LAS OLAS ISLES AUGUST BOTTOM

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