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.
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2011’s previous Market Reports for Las Olas Isles:
- September – October 2011
- July – August 2011
- May – June 2011
- March – April 2011
- December 2010 – February 2011
Related information: