Las Olas Grand Condo
Real Estate Market Report
Las Olas Grand Condo offers Luxury Amenities, spacious Residences, and beautiful views of the New River, Ocean, Intracoastal, and/or City, in addition to walking distance to Las Olas Restaurants, Shops, and Nightlife.
Since my previous Market update, 11 Units were purchased in Las Olas Grand Condo. One of the Units was purchased as a Short Sale and none were purchased as Bank Owned Foreclosures. Of the 11 Units that were purchased, 1 is a Villa, 2 are 2-Story Riverfront Townhomes (Units 604 and 403), and the others are Ashley, Bradford, and Champagne Floor Plans. Below are additional details about the Units that were purchased.
| Purchase Price | Purchase Date | *Unit Number | Square Feet of Living Area | Bedrooms & Baths |
| $1,400,000 | February 28, 2013 | 3606 | 2,635 | 3 Bedrooms & 3.5 Baths |
| $1,100,000 | June 27, 2013 | 403 | 3,010 | 2 Bedrooms & 3 Baths |
| $975,000 | March 29, 2013 | Villa 1 | 3,560 | 3 Bedrooms & 3.5 Baths |
| $800,000 | April 15, 2013 | 604 | 3,060 | 2 Bedrooms & 3 Baths |
| $750,000 | February 15, 2013 | 3603 | 2,110 | 2 Bedrooms & 2.5 Baths |
| $750,000 | May 31, 2013 | 1204 | 2,110 | 2 Bedrooms & 2.5 Baths |
| $745,000 | February 1, 2013 | 3503 | 2,110 | 2 Bedrooms & 2.5 Baths |
| $720,000 | February 26, 2013 | 804 | 2,110 | 2 Bedrooms & 2.5 Baths |
| $650,000 | May 17, 2013 | 702 | 1,630 | 2 Bedrooms & 2 Baths |
| $650,000 | June 5, 2013 | 2805 | 1,630 | 2 Bedrooms & 2 Baths |
| $640,000 | April 1, 2013 | 602 | 1,630 | 2 Bedrooms & 2 Baths |
*-With 4-digit Unit numbers above, the first 2 Digits indicate the Floor that the Unit is located on and, with 3-Digit Unit numbers, the first number indicates the Floor where the Unit is located.
Factors that affect purchase prices include views (North, South, East, or West Exposure, River, Ocean, City and/or Intracoastal), higher Floors vs. lower Floors (related to views), Square Feet, Furnishings, and the type and quality of interior Finishes (there are some Residences that are simply stunning so far as the types of Flooring, Lighting, custom Window Treatments, and other design elements and others that will most likely require upgrades or have very basic/lower quality Finishes).
Las Olas Grand Condos for Sale
Of 213 total Units in the Building, only 3 are currently listed for sale, so Inventory is extremely low, which is what we’re currently experiencing in South Florida’s Condo Market as a result of significantly increased sales. 10% is considered an average level of Inventory for a Condo Building, which in the case of Las Olas Grand would equal 21 Units on the Market for sale. It’s no longer a Buyer’s Market. Properties are selling VERY quickly and multiple Offers are quite common.
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