Las Olas Homes Purchased Recently
Within the months of July and August of 2011, 11 Homes were purchased in the Las Olas Communities of Las Olas Isles, Riviera Isles, and Idlewyld. The purchase price range of the properties was $530,000 – $2,700,000. The properties that were purchased are as follows:
|
Address |
Purchase Price |
Purchase Date |
| 701 Idlewyld Dr. | $2,700,000 | 8/31/11 |
| 540 Lido Dr. | $2,150,000 | 7/19/11 |
| 526 Solar Isle Dr. | $1,975,000 | 7/11/11 |
| 431 San Marco Dr. | $1,553,627 | 7/22/11 |
| 325 Seven Isles Dr. | $1,100,000 | 7/25/11 |
| 401 San Marco Dr. | $915,000 | 8/29/11 |
| 652 SE 25th Av. | $751,000 | 8/12/11 |
| 2319 Sea Island Dr. | $530,000 | 8/12/11 |
Details about the Home that was purchased for $2,700,000 (pictured below):
- Located at 701 Idlewyld Drive in Idlewyld
- Purchased for $2,700,000 on August 31, 2011
- 5 Bedrooms, 5 Full Baths, and 2 Full Baths
- 4-Car Garage
- Pool
- 65′ of Intracoastal Waterfront
- Built in 1991
Short Sales and Foreclosures
Ofo the 11 properties sold, 1 of the properties was purchased as a Short Sale and 1 was purchased as a Bank Owned Foreclosure. In our Luxury Market, distressed properties ARE NOT the majority of the available inventory, nor the majority of the properties sold.
- 325 Seven Isles Drive was purchased as a Short Sale for $1,100,000
- 2319 Sea Island Dr. was purchased as a Bank Owned Foreclosure. Listed for $524,000, purchased for $530,000, and went under contract for purchase within 7 days of being listed on the Market (most Foreclosures in our local Market sell for prices that are equal to or above their list prices and most sell within 30 days or less). The House has 2 Bedrooms, 2 Baths, a Garage, and 76′ of Waterfront. It was purchased for Land value only and is a Teardown/in need of complete renovation (see property pictures below):
Las Olas Homes for Sale
Of ~700 total Homes in Las Olas Isles, Las Olas Seven Isles, Riviera, and Idlewyld, 81 are currently listed for sale, so Inventory is not excessive and is at an average, healthy level. The price range of the properties is $682,500 – $20,000,000, with an average list price of $2,500,000. The properties are all Waterfront and located on Ocean Access Canals, the Intracoastal, or the New River.
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