Las Olas Homes

Las Olas Single Family Homes
Real Estate Market Report

 

2011 ended with a very strong finish for the Las Olas Communities of Las Olas Isles, Las Olas 7 Isles, Himmarshee Park, and Colee Hammock.   During the months of November and December of 2011, 18 properties were purchased in these Communities with a purchase price range of $630,000 – $5,460,000.

Of the 18 properties, none were purchased as Short Sales and 1 was purchased as a Bank Owned Foreclosure, 2301 Castilla Isle, purchased for $630,000.   In our local Luxury Market, distressed properties ARE NOT the majority of the Inventory.

The property that was purchased for $5,460,000 is located at 1614 – 1622 Brickell Drive and consists of 2 Buildable Lots that offer a combined total of 200+ Feet of Waterfront along the New River and almost an Acre of Land, which is a rarity in the Ft. Lauderdale area.   With the exception of a 1-Room Guest House and 1-Car Garage, the property is Vacant.    Purchases such as these re-affirm the facts that Waterfront properties continue to command premium prices and hold their values well.    Property Records indicate that the Property’s new Owner is one of Ft. Lauderdale’s most prominent Developers, so I’m looking forward to seeing something fabulous constructed on the property.

The 18 properties that were sold are as follows (all are Waterfront properties):

 

Property Address

Purchase Price

Purchase Date

Year Built

Bedrooms

Full Baths

Garage

Pool

1622 BRICKELL DR

5,460,000

12/2/2011

1945

1

1

1

No
2328 AQUA VISTA BL

5,175,000

12/22/2011

2008

8

11

3

Yes
84 ROYAL PALM DR

4,200,000

12/15/2011

2008

4

5

3

Yes
527 ROYAL PLAZA DR

3,400,000

11/14/2011

2011

5

5

2

Yes
3 PELICAN ISLE

3,175,000

11/9/2011

1995

6

7

3

Yes
1119 SE 4TH ST

2,900,000

12/8/2011

2009

5

6

2

Yes
14 PELICAN ISLE

2,750,000

12/20/2011

1989

4

6

9

Yes
2630 BARCELONA DR

2,175,000

11/18/2011

1991

4

5

2

Yes
2524 SEA ISLAND DR

1,900,000

12/8/2011

1999

5

4

2

Yes
9 FIESTA WY

1,770,000

11/14/2011

1988

7

6

2

Yes
321 LIDO DR

1,400,000

11/4/2011

1990

4

3

2

Yes
316 ISLE OF PALMS DR

1,300,000

11/15/2011

1978

5

5

2

Yes
341 ROYAL PLAZA DR

1,050,000

12/14/2011

1956

3

2

2

Yes
440 ROYAL PLAZA DR

1,000,000

11/1/2011

1956

3

2

2

No
193 FIESTA WAY

860,000

11/1/2011

1961

3

3

2

Yes
104 S GORDON RD

800,000

12/27/2011

1973

3

2

2

Yes
49 FIESTA WY

750,000

12/9/2011

1952

3

3

None Yes
2301 CASTILLA ISLE

630,000

12/21/2011

1952

2

3

1

No

 

The top 5 Sales in pictures

 

Las Olas Homes currently for Sale

Of ~700 total Homes in Las Olas Isles, Las Olas Seven Isles, Riviera, and Idlewyld, 78 are currently listed for sale, so Inventory is not excessive and is at an average, healthy level.  The price range of the properties is $799,000 – $19,900,000, with an average list price of  $2,895,000.    Of the 78 properties, only 6 are listed for prices under $1,000,000.   All of the properties (except for 2) are Waterfront and located on Ocean Access Canals, the Intracoastal, or the New River.

With a beautiful variety of Luxury Homes, close proximity to the Beach, Shops, Restaurants, and Nightlife, in addition to Ocean access without Fixed Bridges, Mega Yacht Dockage, Deep Canals, and fast access to the Intracoastal and Ocean Inlet, properties in the Las Olas area remain a popular choice and they are holding their values well.

Interested in Las Olas Properties?  Click the button below to view properties and customize your search.

 

Las Olas Isles Homes for Sale

 

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2011’s previous Market Reports for Las Olas Isles:

Related information:

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