Las Olas Isles Homes
Real Estate Market Report
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Since my previous Market report, 31 properties were purchased in the Communities of Las Olas Isles and Riviera Isles during the months of April – September of 2014. The Homes were purchased for prices ranging from $700,000 – $12,500,000, with an average purchase price of $2,319,758. Of the properties that were purchased, only 3 were purchased for prices under $1,000,000, all of which are Teardowns that were purchased for prices that primarily reflect their Land value alone.
All of the properties that were purchased are located on Ocean Access Canals, with the exception of 1000 Riviera Drive (the Anheuser Busch Estate), which is an Intracoastal Point Lot property purchased for $12,500,000 on June 20, 2014.
Of ~700 total Homes in Las Olas Isles, Las Olas Seven Isles, Riviera, and Idlewyld, 80 Single Family Properties are currently listed for sale, so Inventory is not excessive and is at an average, healthy level. The price range of the properties is $1,200,000 – $14,995,000, with an average list price of $3,861,729.
Close proximity to the Beach, Shops, Restaurants, and Nightlife, in addition to Ocean access without Fixed Bridges, Mega Yacht Dockage, Deep Water Canals, Luxury properties, and fast access to the Intracoastal and Ocean Inlet all contribute to the Las Olas area and nearby Waterfront Communities maintaining high demand and property values.
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