HENDRICKS/ISLE OF VENICE CONDO MARKET SLOW

By
Real Estate Broker/Owner with Coast Counties Realty

Hendricks Isle/Isle of VeniceWhile 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 do 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).  Get the details at... http://www.coastcountiesrealty.com/Reports/HI1.htm

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