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Fort Lauderdale Real Estate Market

What you need to know before buying Fort Lauderdale real estate...

By Tim Jones | Broker in Fort Lauderdale, FL

Victoria Park (North) Property Value

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.
 

Comments

By Edyta Gryc - Broker Associate,  Fri Feb 1 2013, 09:35
I am always impressed with your detailed analysis. Great job!
 
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