Fort Lauderdale Real Estate Market

Victoria Park (North) Property Value

Fri, 01 Feb 2013 08:22:09 -0800

Property value has declined in Victoria Park (North) during the trailing six months. In terms of PRICE, the average of the 14 closed sales during the trailing-six months ($340,714) is 20% below the average of the 25 closed sales during the trailing-12 months ($425,880). Likewise, in terms of average CLOSED SALE PRICE/LIVING AREA, the trailing-six month average ($228/LIVsqft) is 13% below the trailing-12 month average ($241); and; in terms CLOSED PRICE/LOT AREA, the average of the trailing-six ($44.65/LOTsqft) is 20% below the trailing-24 ($55.91). HOWEVER, since the March 2010 BOTTOM, the property value TRENDLINE has inclined 27%—from $175/LIVsqft to $240/LIVsqft. And the Trend CONTINUES—December’s three closed sales averaged $462,000, $308/LIVsqft, and $58.89/LOTsqft. Regarding properties listed for sale: only two of the current 12 listings are priced below the average of the trailing-12 month average in terms of Closed Price/LIVing Area; none are priced below the trailing-12 month average in terms of LOT Area, and; five are priced below in terms of Price.

Appreciating Victoria Park

Mon, 28 Jan 2013 09:41:10 -0800

Since the BOTTOM last March the Victoria Park (South) property value TRENDLINE has inclined 33%—from $200/LIVsqft to $300/LIVsqft. By all metrics—CLOSED PRICE, CLOSED PRICE/LIVING AREA and CLOSED PRICE/LOT AREA—property value has INCREASED in Victoria Park (south of SE 6th Street). In terms of PRICE, the average of the 23 sales closed during the trailing-6 months ($621,084) is 16% above the average of the 68 sales closed during the trailing-24 months ($520,241). Likewise, in terms of average CLOSED SALE PRICE/LIVING AREA, the trailing-6 month average ($271.15/LIVsqft) is 12% above trailing-24 month average ($239.11). And in terms of CLOSED PRICE/LOT AREA, the average of the trailing-6 ($76.59/LOTsqft) is 12.5% above the trailing-24 ($67.05). The Trend CONTINUES—December’s eight closed sales averaged $705,563, $289.16/LIVsqft, and $74.34/LOTsqft. Some Sellers remain unaware of the CURRENT MARKET TREND—seven of the current 16 listings are priced below the average of the trailing-24 month average in terms of Closed Price/LIVing Area; five listings are priced below the trailing 24-month average in terms of LOT Area, and; five listings are priced below in terms of Price.

Rio Vista property lost value during the past six months.

Tue, 15 Jan 2013 11:09:53 -0800

In terms of CLOSED SALE PRICE, the average of the 39 closed sales during the trailing-12 months ($698,669) is four percent above the average of the 16 closed sales during the trailing-six months ($670,375). Likewise, in terms of average CLOSED SALE PRICE/LIVING AREA property value has declined about one and a half percent.

The HISTORICAL LOW ($75/LIVsqft) was made last November (the HIGH, $601/LIVsqft was made in August 2005). Despite the LOW, November’s four closed sales averaged $264/LIVsqft. December’s two closed sales averaged $414/LIVsqft.

The average of the trailing-six months’ 16 closed sales ($280/LIVsqft) is three percent above the average of the trailing 24-months' 64 sales ($271/LIVsqft), and of the current 14 properties listed for sale ($395/LIVsqft), only two properties are priced below the trailing 24-months’ average closed sale price.

Generally, the East Fort Lauderdale market has turned, and so long as the economy continues to recover, Rio Vista property owners will enjoy a new SELLER’S MARKET.

SEVEN ISLES STILL SINKING

Tue, 10 Jul 2012 09:47:53 -0700

Property value continues sinking in Seven Isles. The August 2011 historical low ($6,974/WFft) was tested last March ($7,600/WFft) and again in May ($8,554/WFft). The historical high ($66,667/WFft) was made in September 2007. The average of the 14 closed sales during the trailing six-months (16,080/WFft) is 8% below the trailing 24-month average ($17,512). In terms of closed price, the trailing six-month average ($1,781,333) is 12% below the trailing 24-month average ($2,027,968). Of the four isle neighborhoods intersecting Las Olas Boulevard, only Nurmi Isle property value has turned up. Currently in Seven Isles, no properties are pending sale and of the 21 listings only two are priced below the closed sale average/waterfront foot of the trailing 24 months.

CITRUS ISLES: NEW HIGH TIDE MARK

Mon, 02 Jul 2012 11:37:23 -0700

Avocado Isle’s May closed sale ($12,692/WFft) breached the previous historical high reached April 2006 on Mango Isle ($11,923/WFft). The historical low, $2,867/WFft) was made January 2010 on Avocado Isle as well. As in several other waterfront neighborhoods, the tide has turned in the Citrus Isles to a seller’s market from a buyer’s market. The average of the nine closed sales of the trailing six-months ($6,766/WFft) is 15% higher than the 23 closed sales of the trailing 24 months ($5,753/WFft). In fact, the average of May’s seven closed sales ($7,923/WFft) is 27% above the average of the trailing 24 months.

WAVERLY LAS OLAS: IT’S THE INVENTORY…

Tue, 24 Apr 2012 09:48:42 -0700

During the harrowing 46-month descent from the January 2007 HIGH ($487/LIVsqft) to the November 2010 LOW ($88/LIVsqft), the INVENTORY of available condos listed for sale ranged between 30 and 50. Now? Five--none priced below the average of the trailing 24-month 54 closed sales ($134/LIVsqft). In fact, the four February and March closed sales as well as the 13 pending sales average $147/LIVsqft. With steady demand and dwinding supply, value rises, and regarding price: the 54 trailing 24 month closed sales average $173,767; the 8 trailing six-month closed sales average $214,988--that's a 32% rise in value.

APPRECIATING VICTORIA PARK TOWN HOMES

Fri, 13 Apr 2012 10:03:00 -0700

The 183 town homes sold between the March 2006 HIGH and the July 2010 LOW average $217/LIVsqft; the 76 town homes sold between the LOW and last February average $157. The 13 town homes sold in the trailing three months average $165. Only six of the 33 town homes currently listed for sale are priced under the average closed sale price of the 76 since the LOW.

REAL VALUE RIO VISTA

Tue, 10 Apr 2012 11:44:42 -0700

While property value continues eroding, sales closed during the trailing three months suggest a recovery in Rio Vista is underway. The average of the trailing 24 months' 52 closed sales--$271/LIVsqft is 9% below the average of the trailing three months' eight sales--$296/LIVsqft; and the average closed sale price--$569,598 is 5% below the trailing 3 month average--$598,763. Twelve of the 27 current listings (average $328/LIVsqft/$800,100) are priced below the trailing 24-month average Closed Sale Price/LIVing area, and ten are priced below the average Closed Sale Price.

FT LAUD ISLES CLOSED SALES RANKING TRAIL 12

Fri, 27 Jan 2012 11:58:12 -0800

CLOSED SALES Las Olas-22, Seven-16, Nurmi-12, Citrus-10, Riviera-10, Rio Vista-9.
VALUE (AVG) PRICE Nurmi-$2,832,292, Riviera-$1,960,000, Seven-1,912,969, Las Olas-$1,796,256, Rio Vista-$1,502,156, Citrus-$335,350.
VALUE (AVG) WATERFRONT ($/WFft) Riviera-$23,113, Nurmi-$22,331, Rio Vista-$19,258, Seven-$19,118, Las Olas-$16,370, Citrus-$5,035.
VALUE (AVG) LIVING AREA ($/LIVsqft) Nurmi-$601.99, Seven-$428.49, Rio Vista-$415.20, Las Olas-$396.51, Riviera-$366.69, Citrus-$227.34.

FT LAUD ISLES LISTINGS RANKING CURRENT

Fri, 27 Jan 2012 11:57:15 -0800

PENDING SALES Citrus-3, Nurmi-2, Riviera-1, Seven-0, Las Olas-0, Rio Vista-0.
LISTINGS Seven-28, Las Olas-21, Nurmi-17, Citrus-14, Rio Vista-8, Riviera-6.
PRICE (AVG) Rio Vista-$4,411,688, Riviera-$4,098,333, Las Olas-$4,050,667, Seven-$3,722,000, Nurmi-$3,651,176, Citrus-$649,961, .
PRICE (AVG) WATERFRONT ($/WFft) Rio Vista-$40,289, Nurmi-$28,830, Riviera-$26,584, Seven-$26,185, Las Olas-$20,105, Citrus-$7,326.

RIO VISTA ISLES OFF THE LOW AND SLOW

Tue, 17 Jan 2012 09:37:00 -0800

Since the June 2009 low ($7,111/WFft), only four of the twenty waterfront properties sold below $10,000/WFft, and the 16 properties that sold above $10,000 average $21,456. Waterfront property value is appreciating: average closed sale price trailing 24 months--$1,609,029; average closed sale price trailing six months--$1,903,300. Market activity remains slow; during the last six months five closed sales and six new listings—including three in November (average $44,788/WFft). No sales are pending and of the current eight properties listed for sale, only one is priced under the trailing 24-month closed sale price (moving) average.

CITRUS ISLES: RISING TIDE

Thu, 12 Jan 2012 12:39:18 -0800

Of the 17 waterfront properties sold in the Citrus Isles since the January 2010 historical low ($2,867/WFft) only two properties have closed below $4,000/WFft; and the average of these 17 sales ($5,304/WFft) is 45% higher than the historical low. The three pending sales average $5,968/WFft, discounts continue to dwindle, and of the current 14 listings (average $7,326/WFft) only four properties are priced below the post-historical low-average. Now property value has a long way to go to get back to the historical high--$15,227/WFft) made in August 2008--but market activity has been fair during the past six months: 11 new listings, seven closings.

RIVER HOUSE LAS OLAS: SUPPORT @ $200/LIVsqft

Thu, 15 Dec 2011 11:41:51 -0800

Since the August 2009 Historical Low ($169/LIVsqft), Closed Sale Price per LIVing Area dipped below $200 only once (March 2010) and bounced off $200 six times. These 65 closed sales average $276/LIVsqft and $599,855. Recently however, sales have slowed: 10 sales from June through September; one sale October and November. Currently, five condos are pending sale and of the 11 condos listed for sale, only one is priced below the trailing 24-month (moving) average Closed Sale Price/LIVing Area.

SYMPHONY: FIVE BY FIVE NO JIVE

Tue, 13 Dec 2011 10:01:52 -0800

August’s five closed sales averaged $203/LIVsqft, October’s five $240—no jive, that’s 15% appreciation. One of these five, Condo 1118-N sold for $279 (October), sold for $269 in September 2010, and sold for $431 in July 2006—that’s a 35% depreciation. Currently, the two pending sales average $209 and none of the 14 listings (average $300/LIVsqft) are priced below the average closed sale price of the past 24 months.

WAVERLY RALLY, REALLY...

Mon, 12 Dec 2011 08:46:10 -0800

Twelve months ago Condo 720 sold for $88/LIVsqft—the historical low; the 29 condos sold since averaged $132/LIVsqft. Eleven months ago one of these 29 sales—Condo 720—sold (again) for $119/LIVsqft which proves these days one may make money in real estate. The 18 sales closed during the past six months averaged $136/LIVsqft. Discounts have dwindled to zero; in August Condo 817 sold 18% higher than list price. Ten condos are pending sale and of the seven current listings only one is priced below the average closed sale price of the past 24 months.

WATERGARDEN: CALLING THE BOTTOM

Tue, 06 Dec 2011 11:05:17 -0800

In January 2010, Watergarden Condo 206 sold for $222/LIVsqft, and each of the 40 condos sold since has closed higher. Well higher—the average closed sale value of these forty condos ($321) is 31% higher than the historical low made now nearly two years ago. The historical high (Condo 3110-$564/LIVsqft) recorded in September 2005 is 61% above the low. Furthermore, the three pending sales average $355/LIVsqft, and the current 13 condos listed for sale average $333/LIVsqft.

RIO VISTA EROSION

Wed, 16 Nov 2011 10:57:09 -0800

With no closed sales in October and the average of the three pending sales 23% and 40% below trailing 24-month LIVing and LOT Area Closed Sale Price averages, property value continues to erode in Rio Vista (Dry), Fort Lauderdale’s first subdivision. The current 28 properties listed for sale average per LIVing Area $329—30% higher than the trailing 24-month Closed Sale Price; per LOT Area $104—24% higher, and; per Price $784,568—25% higher. By LIVing Area, three current listings are priced “under market” (below the trailing 24-month Closed Sale Price average); by LOT Area, 10 listings are priced under market, and; by Price, 11 are under market.

RIO VISTA EROSION

Wed, 16 Nov 2011 10:56:54 -0800

HENDRICKS ISLE & ISLE OF VENICE IN RANGE

Tue, 15 Nov 2011 11:57:40 -0800

Since the breathtaking 72% plunge from the December 2007 historical high ($656/LIVsqft) through June 2008, property value has settled mainly in a range between $200-$300/LIVsqft. The average value of the 37 closings during the past 24 is $240/LIVsqft; the average of the 15 closings during the past 12 months is $234, and; the average of the 10 closings during the past six months is $247. The two properties sold in September averaged $198/LIVsqft. No property sold in October. Of the 11 properties currently for sale (average $496), only one is priced under the 24-month closed sales moving average ($240).

VICTORIA PARK TOWN HOMES DOUBLE DIP?

Mon, 14 Nov 2011 09:04:48 -0800

While closings dwindled during the past five months (June 7, July 6, August 5, September 2, October 0), closed sale prices declined from June ($157/LIVsqft) to September ($110), and one of September’s two closed sales ($80) tested the six-year low of $63 made July 2010. Closed sale prices have declined during the past five months, as well (June $337,714, July $322,000, August $298,800, September $225,000. The six-year high ($507,000/632/LIVsqft) was made in March 2006. The seven pending sales average $469,127 or $174/LIVsqft. Six of the current 42 town homes listed for sale ($572,677/$222/LIVsqft) are priced under the 24-month (97 closed sales) moving average ($346,506/$156).

EAST FT LAUD SINGLE FAMILY/TOWN HOME NEIGHBORHOOD LISTING RANKINGS

Wed, 09 Nov 2011 12:05:02 -0800

PENDING SALES: Vic Park TH 7, Vic Park SFH (South) 5, Rio Vista SFH (Dry) 3, Vic Park SFH (North) 3, Hendricks/Venice C/TH 3.
INVENTORY: Vic Park TH 42, Rio Vista SFH (Dry) 28, Vic Park SFH (South) 23, Hendricks/Venice C/TH 14, Vic Park SFH (North) 10.
PRICE (AVG): Hendricks/Venice C/TH $1,246,333, Rio Vista SFH (Dry) $784,568, Vic Park SFH (South) $746,317, Vic Park TH $572,677, Vic Park SFH (North) $416,980.
PRICE (AVG $/LIVsqft): Hendricks/Venice C/TH $426, Rio Vista SFH (Dry) $329, Vic Park SFH (South) $309, Vic Park SFH (North) 0, Vic Park TH $222.
PRICED UNDERMARKET (TRAIL 24 Months/LIVING AREA): Vic Park TH 6, Rio Vista SFH (Dry) 3, Vic Park SFH (South) 3, Hendricks/Venice C/TH 1, Vic Park SFH (North) 0.

EAST FT LAUD SINGLE FAMILY/TOWN HOME NEIGHBORHOOD SALES RANKINGS

Tue, 08 Nov 2011 10:11:52 -0800

SALES TRAIL 24 MONTHS...
CLOSED SALES: Vic Park TH 97, Vic Park SFH (South) 52, Rio Vista SFH (Dry) 51, Vic Park SFH (North) 41, Hendricks/Venice C/TH 37.
PRICE (AVG): Hendricks/Venice C/TH $698,652, Rio Vista SFH (Dry) $589,635, Vic Park SFH (South) $433,576, Vic Park TH $346,506, Vic Park SFH (North) $311,572.
LIVING AREA (AVG $/LIVsqft): Rio Vista SFH (Dry) $261, Hendricks/Venice C/TH $240, Vic Park SFH (South) $236, Vic Park SFH (North) $182, Vic Park TH $156.

SALES TRAIL 6 MONTHS...
CLOSED SALES: Vic Park TH 21, Rio Vista SFH (Dry) 14, Vic Park SFH (North) 13, Vic Park SFH (South) 12, Hendricks/Venice C/TH 10.
PRICE (AVG): Hendricks/Venice C/TH $677,918, Rio Vista SFH (Dry) $582,821, Vic Park SFH (South) $397,121, Vic Park TH $326,905, Vic Park SFH (North) $210,692.
LIVING AREA (AVG $/LIVsqft): Hendricks/Venice C/TH $247, Rio Vista SFH (Dry) $245, Vic Park SFH (South) $200, Vic Park SFH (North) $187, Vic Park TH $155.

EAST FORT LAUDERDALE DOLDRUMS

Mon, 07 Nov 2011 10:03:31 -0800

With only four closed sales in October, Rio Vista, Victoria Park and Hendricks Isle/Isle of Venice drifted into the Doldrums. The Doldrums, a dreadful low-pressure area when trade winds vanish--sometimes for weeks--leads either to balmy breezes, or to squalls, thunderstorms or even hurricanes. With 21 properties pending sale, let's hope the current doldrums leads to balmy breezes.

FLL WATERFRONT PROPERTY SALES LAST 6 MONTHS

Wed, 12 Oct 2011 08:57:30 -0700

CLOSED SALES: Las Olas 11, Riviera 7, Seven 7, Citrus 7, Nurmi 5, Rio Vista 3.
PRICE (avg): Nurmi $3,010,000, Las Olas $1,904,784, Riviera $1,703,571, Seven $1,579,286, Rio Vista $867,633, Citrus $329,643.
WATERFRONT (avg $/WFft): Nurmi $22,744, Seven $19,291, Riviera $15,071, Las Olas $14,931, Rio Vista $12,925, Citrus $5,465.
LIVING AREA (avg $/LIVsqft): Nurmi $608, Riviera $393, Las Olas $364, Seven $325, Rio Vista $290, Citrus $238.

FLL WATERFRONT PROPERTY SALES LAST 6 MONTHS

Wed, 12 Oct 2011 08:56:49 -0700

FLL WATERFRONT PROPERTY SALES LAST 6 MONTHS

Wed, 12 Oct 2011 08:56:00 -0700

FLL WATERFRONT PROPERTY SALES LAST 6 MONTHS

Wed, 12 Oct 2011 08:54:58 -0700

FLL WATERFRONT PROPERTY SALES LAST 6 MONTHS

Wed, 12 Oct 2011 08:54:14 -0700

FLL Waterfront Property Rankings (Sep'11)

Tue, 11 Oct 2011 11:29:14 -0700

Pending Sales: Citrus 7, Las Olas 1, Nurmi 1, Rio Vista 1 Riviera 0, Seven 0.
Listings: Seven 27, Las Olas 22, Citrus 15, Nurmi 12, Rio Vista 9, Riviera 6.
Listings Undermarket Last 24 Months $/WFft: Nurmi 6, Las Olas 5, Seven 5, Citrus 3, Riviera 2, Rio Vista 1.
Listings Undermarket Last 6 Months $/WFft: Nurmi 7, Seven 6, Las Olas 5, Riviera 3, Citrus 1, Rio Vista 1.

RIVIERA ISLE VALUE GAINS

Thu, 22 Sep 2011 11:50:13 -0700

The average closed sale price per waterfront foot ($23,946) of the seven sales closed during the past six months is five times the the November 2009 historical low ($4,781/WFft). Of the six properties cuurently available for sale (average $33,145/WFft) TWO are priced under the average closed sale price of the past 24 months ($13,376). Over the past 24 months on a closed PRICE, WATERFRONT, AND LOT AREA basis, Riviera Isles property value is increasing and on a LIVING AREA basis value is decreasing.

SEVEN ISLES REACHES HISTORICAL LOW

Wed, 21 Sep 2011 12:15:33 -0700

A new historical low ($6,974/WFft) was made last month in Seven Isles with the sale of a foreclosed property on Sea Island Drive. A factor of ten higher, the historical high ($66,667/WFft) was made in September 2007. Prior to last month, the previous low ($8,133/WFft) was a short sale on Delmar Place closed in January 2010. The following month—neither a foreclosure nor a short sale—another Delmar property sold for $8,667/WFft. However, the 19 sales closed between February 2010 and July 2011 averaged $18,875/WFft. Of the current 27 properties listed for sale (average $29,077/WFft), five are priced under market ($17,918/WFft--average of the 28 closed sales during the past 24 months). Currently, there are no pending sales. While on a closed price per WATERFRONT FOOT-basis property value has increased during the past six months, on a closed-PRICE basis, property value has continued to decline during the past 24 months. On a closed price per LIVING AREA basis, property value has dropped 25% during the past six months, and on a closed price per LOT area basis, property value has declined very gradually over the past 24 months.

CITRUS ISLES SOUR TURNS SWEET

Mon, 12 Sep 2011 11:03:04 -0700

Three of the seven waterfront properties sold during the past six months closed in August, and the average of the three ($4,858/WFft) is a 41% increase from the January 2010 historical low ($2,867/WFft). The seven pending sales average $5,773/WFft, and of the current 15 listings (average $7,406/WFft), only three are priced under market (Citrus $4,997, Orange $5,053, Tangelo $4,431). While property value continues declining the slope has become shallower, indicating a bottom is near .

RIO VISTA ISLES TESTING THE LOW

Wed, 07 Sep 2011 11:36:55 -0700

The June 2009 historical low ($7,111/WFft) was tested in June 2010 ($9,232), November 2010 ($8,994), and most recently last June ($9,000). However, absent these four sales, the remaining twelve closings since June 2009 average $20,298/WFft. Market activity during the past twelve months is characteristically slow in Fort Lauderdale’s first and most exclusive waterfront subdivision: eight new listings, six closed sales. Of the nine waterfront properties currently available for sale (average $36,576/WFft), only one is priced below market ($12,871/WFft). One property is pending sale ($30,902/WFft).

FLL Condos Las Olas & Downtown Rankings (Aug'11)

Tue, 23 Aug 2011 13:09:55 -0700

CLOSINGS LAST 24 MONTHS: Waverly 66, Symphony 60, River House 59, Watergarden 44, Las Olas Grand 33, Las Olas Beach Club 26.
CLOSINGS LAST 12 MONTHS: Symphony 34, Waverly 33, River House 33, Watergarden 19, Las Olas Grand 18, Las Olas Beach Club 12.
CLOSINGS LAST 6 MONTHS: Symphony 17, Waverly 14, River House 14, Las Olas Grand 12, Watergarden 10, Las Olas Beach Club 5.

AVERAGE CLOSED PRICE ($/LIVsqft) LAST 24 MONTHS: Las Olas Beach Club $399, Las Olas Grand $335, Watergarden $327, River House $268, Symphony $217, Waverly $135.
AVERAGE CLOSED PRICE ($/LIVsqft) LAST 12 MONTHS: Las Olas Beach Club $419, Las Olas Grand $335, Watergarden $319, Symphony River House $272, $210 Waverly $131.
AVERAGE CLOSED PRICE ($/LIVsqft) LAST 6 MONTHS: Las Olas Beach Club $451, Las Olas Grand $355, Watergarden $318, River House $268, Symphony $217, Waverly $122.

APPRECIATING LAS OLAS GRAND APPRECIATION

Mon, 22 Aug 2011 11:14:39 -0700

While the 33 closed sales during the past 24 months as well as the 18 closed sales during the past 12 months average $335/LIVsqft, the average of the 12 sales during the past six months—$355—show six percent condo value appreciation. Although last September’s historical low ($222) is 71% off the November 2007 historical high ($762), the average of last April’s four closed sales (349) is a 56% appreciation from the low. Currently, the four pending sales average $337, and of the ten condos available (average $444), only three are under market: Condo 503/603 @ $315; Condo 2303 @ $320, and; Condo 2402 @ $325. During the past six months closed sales (12) exceed new listings (11). New listing prices from May ($437) have declined through June ($416) and July ($315).

RIVER HOUSE RANGE

Thu, 18 Aug 2011 09:51:33 -0700

During the past year, the 33 closed sales at Las Olas River House ranged between $207 and $336 and averaged $272/LIVsqft. The historical high ($610) occurred in April 2006; the harrowing low ($163) was made in August 2009. Since May, discounts (from last list price) have dwindled dramatically—between one and seven percent. The six pending sales average $341/LIVsqft, and of the current 15 listings (average $446) only three are priced under market: Condo 1505 @ $258; Condo 2104 @ $230, and; Condo 306 @ $256. The four new condos listed in February averaged $352/LIVsqft; the five in June averaged $360.

SYMPHONY CONDO FLL--DO RE MI

Tue, 16 Aug 2011 10:59:52 -0700

DO—last November’s historical low ($148/LIVsqft); RE—January’s closed sale ($259); MI—July’s closing ($304) shows Symphony Condo value scaling higher—a 52% FA SOL LA from the May 2006 historical high ($631). While the average of the six pending sales ($204) predict a RE—not a DO—NONE of the 13 current listings (average $293) are UNDERMARKET (priced below the average closed sale price of the 60 sales during the past 24 months). Market activity during the past six months is pretty fair: 25 new listings; 17 closed sales. February’s six new list prices average $225; July’s three average $329.

WATERGARGEN WATERSHED...

Tue, 09 Aug 2011 10:54:27 -0700

While last January’s historical low ($222/LIVsqft) continues to hold, the average sale price of the 10 closed sales during the past six months (318/LIVsqft) shows the decline in Watergarden condo values easing to (a) bottom. The average sale price of the 44 closed sales during the past 24 months: $327 and of the 19 sales during the past 12 months: $319 is a decline of 45% from the October 2006 historical high ($585). Since last April’s 16%, discounts (from last list price) dwindled to zero in July. The five pending sales average $312/LIVsqft may presage further slight value decline; of the 15 current listings (average $353), five are priced below the average closed sale price of the past 24 months ($327). Market activity during the past six months has been good: 17 new listings; 10 closed sales. In every month since February average list prices per month have increased.

WAVERLY LAS OLAS: LEADING DOWNTOWN CONDO INDICATOR

Wed, 03 Aug 2011 09:55:25 -0700

What happens in the downtown condo market—highs, shorts, REOs, lows—happens first at The Waverly—the first and most populated of the five newer Fort Lauderdale downtown condos. Since December 2009 values—on a Closed Price/Living Area basis ($/LIVsqft) have stayed right around $150/LIVsqft, and inventory has ranged between 25 and 40 listings. NOW INVENTORY IS FIVE LISTINGS. That’s right, FIVE condos available for sale. If value is a function of supply and demand, prices will be increasing—probably soon after the 12 pending listings close. Note the average value of the 12 pending sales is $177,488 and the average of the five listings is $327,580—NONE under market. The historical high was January 2007 ($487/LIVsqft); the historical low was last November ($88/LIVsqft). Market activity is good; during the past six months 13 new listings and 15 closed sales. New list prices made a bottom last January and February ($115/LIVsqft) and are easing higher (May $140, June $126, July $257).

A TALE OF TWO VICTORIA PARKS (SOUTH AND NORTH)

Wed, 27 Jul 2011 11:21:48 -0700

When property value is reduced to location, dividing Victoria Park at NE 6th Street seems natural; South orients to Downtown, Federal Highway and Las Olas; North orients to Holiday Park, Sunrise Boulevard and Galleria Mall. While the historical high values (for single family homes) in both the South ($748/LIVsqft) and the North ($718/LIVsqft) occurred in March 2006, the historical low occurred in the North (March 2010, $73/LIVsqft) a year earlier than the historical low in the South (March 2011, $101/LIVsqft). The 56 closed sales during the trailing 24 months in the South average $247/LIVsqft; in the North the average closed sale price of the 39 sales is $191/LIVsqft. The 24 current listings in the South average $314/LIVsqft, and in the North, the current 16 listings average $243/LIVsqft.

HENDRICKS AND VENICE LOW HOLDS, SALES PICKING UP

Wed, 20 Jul 2011 09:54:25 -0700

The March 2010 historical low continues to hold, and of the ten sales closed during the past six months five occurred in June (one in May and two each in April and March). While March-May sales per LIVing Area averaged $213/LIVsqft, June’s closed sale price increased to $253/LIVsqft. March-May discounts (from last list price) averaged almost 18 percent, June’s halved to nine percent. Currently, four properties are pending sale (average $339/LIVsqft); and 14 properties are listed for sale (average $426/LIVsqft). Based on closed sale price averages during the last six, 12 and 24-month periods, only one current listing is priced under-market (Boathouse, $221/LIVsqft). Average new listing prices increased the last two months (May $302/LIVsqft, $1,003,457; June $336/LIVsqft, $1,375,000).

RIO VISTA SALES DEAR

Tue, 19 Jul 2011 08:57:02 -0700

Of the ten Rio Vista (dry) properties sold during the last six months, seven closed in March and April; one property closed sale in May and one in June. New listings are dwindling; 27 properties were listed during the last six months—eight each in January and March. Currently, eight properties are pending sale (five short sales) and 25 properties are listed for sale. Based on closed sale prices during the last six months, six current listings are priced under the (market) average per living area ($/LIVsqft); 13 are priced under market per lot area ($/LOTsqft), and 12 are priced under market by closed sale price ($). The historical market high was August 2005 ($600.51/LIVsqft and $105.56/LOTsqft). The historical low was a foreclosure sold last October ($81.93/LIVsqft and $29.15/LOTsqft). This low was tested in June—a foreclosure that sold for $205,000 ($32.80/LOTsqft) which in September 2002 sold for $345,000 and in August 1999 for $215,000.

VICTORIA PARK TOWN HOME VALUE TREND UP CONTINUES

Fri, 17 Jun 2011 11:10:01 -0700

Property value on a Closed Sale Price per Living Area basis ($/LIVsqft) has continued increasing since the July 2010 historical low ($62.79/
LIVsqft). The historical high was March 2006 ($632.17).
The average of the ten March closed sales is $142.27; the average of the eight in April is $159.55. One town home sold in May for $207.99/LIVsqft ($625,000). The 20 pending sales average $171.51; discounts have dwindled to less than 10% in the last three months.
The average closed sale price during the last six months ($151.77) is below the 24 month average ($156.43); conversely, the last six months average price ($359,517) is slightly higher than the 24 month average, ($358,379).
Among the 28 current listings (average $241.31/LIVsqft, $652,318), none is priced below market (24, 12, and six month closed sale price averages).
New listing prices are trending higher. While market activity during the last six months is good (48 listings, 30 closings), in May four town homes were listed for sale and only one sold.

NURMI ISLES BREATHTAKING PLUNGE

Tue, 31 May 2011 10:28:31 -0700

Waterfront property value in Nurmi Isles took a breathtaking 85% plunge from the July 2009 historical high, $59,375/WFft to last April’s historical low, $8,889. But the four additional waterfront properties sold in April—average $30,773/WFft—made a nice recovery. No properties are pending sale, and of the 13 current listings (average $31,254/WFft), four are priced under the trailing-24 month average closed sale price (per waterfront foot). Market Activity has increased during the past six months: ten new listings and nine closings.

RIVIERA ISLES RAMP UP

Thu, 26 May 2011 11:34:42 -0700

The historical low made November 2009 ($4,781/WFft) was tested last December ($6,044/WFft), and the six sales since average $21,275 WFft—including two in March and April that closed above $30,000/WFft. The two pending sales average $9,484/WFft, and of the eight properties for sale (average $27,535/WFft), only two are priced under market. The average sale price of the last six months ($1,591,875) is 16 percent above the average of the last 24 months. During the past six months, market activity has ramped up—nine new listings, eight closed sales, discounts (from last list price) have dwindled to about 10 percent, and new listing prices have increased 29 percent.

Fort Lauderdale Waterfront Market Rankings...

Mon, 23 May 2011 09:16:27 -0700

PENDING SALES: Citrus 3, Las Olas 2, Riviera 2, Seven 1, Nurmi 0, Rio Vista 0.
CURRENT LISTINGS: Seven 28, Las Olas 25, Citrus 17, Nurmi 13, Rio Vista 11, Riviera 8.
UNDERMARKET (Avg 24 Mo Closed) WATERFRONT: Las Olas 8, Seven 6, Nurmi 4, Citrus 3, Rio Vista 1, Riviera 0.
UNDERMARKET (Avg 6 Mo Closed) WATERFRONT: Las Olas 7, Seven 6, Nurmi 4, Citrus 3, Riviera 0, Rio Vista 0.
UNDERMARKET (Avg 24 Mo Closed) LIVING AREA: Seven 9, Citrus 8, Nurmi 7, Las Olas 4, Rio Vista 2, Riviera 2.
UNDERMARKET (Avg 6 Mo Closed) LIVING AREA: Nurmi 8, Citrus 8, Seven 2, Riviera 2, Las Olas 0, Rio Vista 0.

Fort Lauderdale Waterfront Market Rankings...

Fri, 20 May 2011 10:55:52 -0700

CLOSED SALES LAST 24 MONTHS: Seven 19, Las Olas 24, Nurmi 23, Riviera 21, Rio Vista 17, Citrus 15.
CLOSED SALES LAST 6 MONTHS: Nurmi 9, Las Olas 8, Riviera 8, Seven 6, Rio Vista 4, Citrus 3.

AVERAGE CLOSED SALES PRICE LAST 24 MONTHS: Nurmi $2,503,745, Las Olas $2,178,416, Seven $1,812,177, Rio Vista $1,691,768, Riviera $1,343,190, Citrus $385,307.
AVERAGE CLOSED SALES PRICE LAST 6 MONTHS: Nurmi $3,100,833, Las Olas $1,916,167, Seven $1,597,917, Riviera $1,591,875, Rio Vista $1,256,975, Citrus $384,367.

AVERAGE CLOSED SALE PRICE/WATERFRONT FOOT LAST 24 MONTHS: Nurmi $20,849, Rio Vista $17,263, Seven $17,073, Las Olas $16,523, Riviera $13,470, Citrus $5,221.
AVERAGE CLOSED SALE PRICE/WATERFRONT FOOT LAST 6 MONTHS: Nurmi Isles $22,744, Seven $19,291, Riviera $15,071, Las Olas $14,931, Rio Vista $12,925, Citrus $5,465.

AVERAGE CLOSED SALE PRICE/LIVING AREA LAST 24 MONTHS: Nurmi $562, Seven $493, Rio Vista $444, Las Olas $431, Riviera $426, Citrus $253.
AVERAGE CLOSED SALE PRICE/LIVING AREA LAST 6 MONTHS: Nurmi Isles $613, Riviera $420, Seven $361, Rio Vista $361, Las Olas $294, Citrus $256.

NEARING BOTTOM IN LAS OLAS ISLES

Tue, 10 May 2011 09:49:21 -0700

The historical low made last January ($9,500/Waterfront Foot) has been tested twice since—in March ($9,787) and again last month ($10,560). The last closed sale in April ($28,000/WFft) and the average of the last list prices of the two pending sales ($15,098) suggest a near bottom in Las Olas Isles. While closed sales trends continue declining in terms of price and per living area and per lot area, the average of the two April closed sales is considerably higher than the 24, the 12 and the six month averages in terms of closed price per waterfront foot, closed price, closed price per living area, and closed price per lot area. Market activity is fair; during the last six months: 17 properties have been listed for sale, and eight properties have been sold. For new listings in the last six months, the trend is higher in terms of price, price per waterfront feet and price per lot area and lower for price per living area. Eight of the 25 current listings are listed under closed sale market averages.

OFF THE HIGH A (LAS OLAS) GRAND BOTTOM

Thu, 14 Apr 2011 11:57:30 -0700

While the decline (70%) from the November 2007 historical high ($762/LIVsqft)) was breathtaking, last September’s bottom ($222) has held through March as the historical low. In fact, the average of the nine condos closed since the low ($344) is a 35% rebound. Average closed sale prices have been fairly flat during the past 24-month ($713,016), past 12-month ($705,278) and past six-month ($705,556) periods; however, the rebound is clear on a closed sale price/living area basis (past 24-month period $330, 12-month $323, and six-month $344). Market activity is fair; during the past six months, sellers have listed eight condos for sale and buyers have purchased 10 condos. Current listings number 18 (average list price/living area $389 and price $876,333). The three pending sales average $403/LIVsqft and $791,333 (last list price). During the past six months new listings have ranged between $700,000 and $900,000 and averaged about $400/LIVsqft.

LAS OLAS RIVER HOUSE: STEADY APPRECIATION, DWINDLING DISCOUNTS

Fri, 18 Mar 2011 12:20:36 -0700

Property value has steadily appreciated and discounts have commensurately dwindled since the discounted 68%-sale of Condo 3210 made the historical low ($163/LIVsqft) in August 2009—a 73% plunge from the historical high ($610) made in April 2006. While the average closed sale price during the past six months (19 sales, $483,605) is lower than the 24-month average (63 sales, $614,211), the average closed sale price per living area during the past six months ($276) is higher than the 24-month average ($270). Currently, seven sales are pending (average $289); and of the 22 condos listed for sale (average $411), only one is priced below the 24-month average closed sale price. Market activity is fair; 25 new listings and 17 closed sales during the last six months.

SYMPHONY CONDO: IN STUNNING DECLINE A SILVER LINING

Wed, 09 Mar 2011 11:33:42 -0800

In March 2007, Symphony Condo 1102-S sold for $494.87/LIVsqft ($675,000). Last November, Symphony Condo 1102-S sold for $148.40/LIVsqft ($227,500)-a stunning 70% decline in property value. Silver lining: last November's sale of 1102-S is holding as the historical low; the 12 sales since range between $167 and $259/LIVsqft. The historical high, $631/LIVsqft was reached in May 2006. Currently, five condos are pending sale (average value $226/LIVsqft). Market activity during the last six month is good: 24 new listings, and 17 closed sales. The average value of the 15 listings available for sale is $272/LIVsqft--none priced below the trailing 24 month closed sale price average of $222/LIVsqft.

HISTORICAL LOW HOLDS AT WATERGARDEN

Thu, 17 Feb 2011 13:47:32 -0800

Since the historical low 13 months ago ($222/LIVsqft), the 21 condos sold at Watergarden ranged between $394 (last May) and $255 (last December), and averaged $329/LIVsqft. The historical low is 62% off the historical high of $586 reached in October 2006. Currently, one sale is pending (last list price $277) and of the 26 condos available for sale (average $365), seven are listed under market. In the last six months, 15 condos have been listed for sale and nine condos have sold. New listing prices have increased every month since September.

Equilibrium at Waverly Las Olas

Thu, 10 Feb 2011 12:16:56 -0800

Property value over the past two years on closed price/living area basis ($/LIVsqft) has leveled at Waverly Las Olas: $140/LIVsqft over the past 24 months (average of 61 sales); $137 over the past 12 months (25 sales), and; $134 over the past 6 months (13 sales). Value continues declining but slowly, and last November’s sale at $88/LIVsqft may prove to have been the historical bottom. The historical top was reached in January 2007 ($487/LIVsqft). Conversely, average closed sale price has edged up: $171,796 over 24 months to $175,231 over the past six months. Currently, nine condos are pending sale and seven of the current 18 listings are priced under the two year average closed sale price ($140/LIVsqft). The rate of new listings has slowed over the past six months (9); the rate of sales has increased slightly (13). New listing prices have continued declining, both in terms of price and living area.

VICTORIA PARK SOUTH AMAZINGLY STABLE; NORTH REMAINS WEAK

Thu, 27 Jan 2011 10:53:18 -0800

Since the low two years ago (January 2009), the market for single family homes market in South Victoria Park has been amazingly stable; in each of the last 24, 12 and six-month periods the aggregate average closed sale price per living area is $250/LIVsqft. Not so in North Victoria Park (north of NE 6th St) where the property value continues declining; in the same 24, 12 and six month periods aggregate averages are $189, $177 and $160/LIVsqft. Aggregate average closed sale prices in South Victoria Park in these periods have ranged from $436,565 (24 months ago) to $448,800 in the last six months, and; in the North, $321,603 to $265,333.

HENDRICKS/ISLE OF VENICE CONDO MARKET REMAINS SLOW

Fri, 14 Jan 2011 10:17:49 -0800

While the four sales in the past six months make the Hendricks/Venice condo market among East Ft Lauderdale’s slowest, the seven pending sales may not suggest quickening activity: only two of the 30 current listings are priced under market and moreover, the average closed sale price $249/LIVsqft) of the 31 condos sold during the last two years is 37% below the average list price ($395/LIVsqft). Sellers may be getting the message however, as the average list price/month has declined during the past six months from $400/LIVsqft ($850,000) to $200 ($499,000). The historical low was reached last March ($134/LIVsqft/$587,000)—a fraction of the historical high recorded in December 2007 ($656/LIVsqft/$2,130,000).

VICTORIA PARK TOWN HOMES: SUMMER 2010 REMAINS HISTORICAL LOW

Thu, 13 Jan 2011 10:52:08 -0800

During the past seven months, each of the 20 Victoria Park town homes closed sold for a price well above last July's historical low of $62.79 (per living area square foot)-on average, by a factor of two higher ($159/LIVsqft), and by a factor of four below the historical high reached in March 2006 ($632). The market for Victoria Park town homes strengthened from July through November, but December's six sales weakened (average $114/LIVsqft). The eight pending sales average $160/LIVsqft; and of the 48 current listings ($210/LIVsqft), 16 or 33% are priced under market. 38 town homes have been listed during the past six months; average list prices/month dipped in September ($140/LIVsqft or $266,833), and increased through December ($159 or $372,467).

JUNE 2009 REMAINS HISTORICAL LOW AT NURMI ISLES

Wed, 29 Dec 2010 13:55:15 -0800

During the past eighteen months, each of the 12 properties in Nurmi Isles sold above the June 2009 historical low of $9,205/Waterfront Foot ($782,400 closed sale price). Not including the July 2009 sale ($59,375/WFft and $5,937,500 closed sale price), the remaining 11 sales averaged $17,433/WFft and $1,957,273 closed sale price. Prior to the July 2009 sale, the five-year historical high occurred in March 2007 ($53,529/WFft and $4,550,000 closed sale price). While September’s two sales were relatively weak (average $12,541/WFft and $1,160,000 closed sale price), November’s sale was stronger than the 18-month averages ($22,222/WFft and $2,000,000). During the past six months, discounts have ranged between 10 and 23 percent. One sale is pending ($14,950/WFft and $1,495,950 last list price). Of the 17 current listings, seven are priced under market. Market activity has picked up during the past six months with 11 new listings and six closed sales. Get the details at...http://www.coastcountiesrealty.com/Reports/NI1.htm

LAS OLAS ISLES AUGUST BOTTOM.

Thu, 23 Dec 2010 09:51:54 -0800

With the two closed sales last August and September, the bottom may have been reached in the Las Olas Isles. From the five-year market top reached in February 2007 ($41,690/Waterfront Foot), property value on a waterfront foot basis ($/WFft) fell to $9,750 in August and $10,000 in September. October’s one sale closed at $31,000/WFft. No sales in November and the three pending sales (last list price) average $22,731/WFft. Market activity is picking up with six new listings in October and four in November. Of the 32 properties currently listed for sale, fifteen are priced below 24, 12 and six month averages. New List Prices on a waterfront foot basis fell to $13,809 in November from the trailing 12 month high of $52,500 in July. Buyers can find opportunities for good deals in Las Olas Isles. Get the details… http://www.coastcountiesrealty.com/Reports/LOI1.htm

Symphony

Tue, 16 Nov 2010 11:42:42 -0800

Market Activity Good, Prices Easing To Bottom at Symphony...
Get closed sale price data at...
http://www.coastcountiesrealty.com/Reports/S1.htm

Waverly Las Olas

Tue, 16 Nov 2010 11:39:38 -0800

Prices Continue Sliding at Waverly Las Olas...
Get closed sale price data...
http://www.coastcountiesrealty.com/Reports/W1.htm

Watergarden

Tue, 16 Nov 2010 11:36:59 -0800

Price Trends UP at Watergarden...
Get closed sales data at...
http://www.coastcountiesrealty.com/Reports/WG1.htm

Las Olas Grand

Tue, 16 Nov 2010 11:34:01 -0800

Price Trend Turns UP at Las Olas Grand...
Get closed sale price data...
http://www.coastcountiesrealty.com/Reports/LOG1.htm

350 Las Olas

Tue, 16 Nov 2010 11:31:35 -0800

Market Activity Slow, Prices UP at 350 Las Olas...
Get closed sales data...
http://www.coastcountiesrealty.com/Reports/3501.htm

River House Las Olas

Tue, 16 Nov 2010 11:28:03 -0800

Prices Trending UP at River House Las Olas...
Get closed sales data...
http://www.coastcountiesrealty.com/Reports/RH1.htm

Las Olas Beach Club

Tue, 16 Nov 2010 11:24:20 -0800

Market activity slow and prices continue drifting DOWN at Las Olas Beach Club...
Check closed sales data at...
http://www.coastcountiesrealty.com/Reports/LOBC1.htm

Rio Vista (Dry) Market Data Updated October 2010

Mon, 11 Oct 2010 08:49:59 -0700

In Rio Vista (Dry): property values last April tested the previous July 2009 bottom, but all 12 subsequent sales (May-September) closed higher. In terms of price, the 24, 12 and 6-month trend line favors buyers, but closed sale price/living area and lot area--while still favoring buyers--has flattened; in fact, closed sale price/living area during the last six months has increased from $175/sqft in April to $275/sqft in September. Market activity is good; during the past six months 20 properties have been listed for sale, and 15 properties have sold. 17 of the current 27 listings are priced under market. New listing prices are trending flat to higher. For the details go to the Rio Vista Market Data page on the Coast Counties Realty website:
http://www.coastcountiesrealty.com/Reports/RV1.htm
Or call Tim Jones direct, 954.235.8466.

Las Olas Isles Market Data Updated

Thu, 23 Sep 2010 08:36:04 -0700

Latest Market Data Available for Las Olas Isles:

http://www.coastcountiesrealty.com/Reports/LOI1.htm

Every neighborhood records its own market history and creates its own unique real estate cycle. Real estate values cycle up and down, slowly -- providing opportunities to learn market history, examine current trends, and consider when prices may turn up or down.

Before you make an offer to buy or agree to sell, discover the market history of your neighborhood, and understand its real estate cycle.

Coast Counties Realty carefully collects, organizes, graphs and maintains the specific historical and current neighborhood market data buyers and sellers need to know in order to make the best buying or selling decision.

Coast Counties Realty Market data available:

Downtown/Las Olas Condos

350 Las Olas

Las Olas Beach Club

Las Olas Grand

River House Las Olas

Symphony

Watergarden

Waverly

Neighborhoods

Rio Vista Single Family Homes (Dry Lots)

Victoria Park Town Homes

Victoria Park Single Family Homes

Hendricks Isle & Isle of Venice Town Homes & Condos

Waterfront

Seven Isles

Riviera Isles

Rio Vista Isles

Nurmi Isles

Las Olas Isles

Citrus Isles

Additional neighborhood market data available on request;

Contact Tim Jones, Broker…

tim@coastcountiesrealty.com

Direct 954.235.8466