LAS OLAS RIVER HOUSE: STEADY APPRECIATION, DWINDLING DISCOUNTS

By
Real Estate Broker/Owner with Coast Counties Realty

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.  Get the details at... http://www.coastcountiesrealty.com/Reports/RH1.htm

River House Las Olas Fort Lauderdale

Comments (2)

Anonymous
justaloco

Unit 3210 should have been omitted from the author's calculations because it is a "raw" penthouse unit. This is different then "Designer Ready" which is how most of the units were originally sold. The raw units have no walls, no wiring, no kitchen, no finished ceiling or lighting. There are only cheap Home Depot sinks and toilets to qualify the units for sale.

Apr 26, 2011 08:31 AM
#1
Anonymous
Tim Jones

This is a fair point, and thanks for making it...

Apr 26, 2011 09:09 AM
#2