About Fort Lauderdale's Seven Isles

A new historical low ($6,974/WFft was made last month in Seven Isles with the sale of a foreclosed property on Sea Island Drive. A factor of ten higher, the historical high ($66,667/WFft) was made in September 2007. Prior to last month, the previous low ($8,133/WFft) was a short sale on Delmar Place closed in January 2010. The following month—neither a foreclosure nor a short sale—another Delmar property sold for $8,667/WFft. However, the 19 sales closed between February 2010 and July 2011 averaged $18,875/WFft. Of the current 27 properties listed for sale (average $29,077/WFft), five are priced under market ($17,918/WFft--average of the 28 closed sales during the past 24 months). Currently, there are no pending sales. While on a closed price per WATERFRONT FOOT-basis property value has increased during the past six months, on a closed-PRICE basis, property value has continued to decline during the past 24 months. On a closed price per LIVING AREA basis, property value has dropped 25% during the past six months, and on a closed price per LOT area basis, property value has declined very gradually over the past 24 months. Get the details... http://www.coastcountiesrealty.com/Reports/SI1.htm Get

Seven Isles $700,000 http://southfloridamls.com/Pub/EmailView.asp?r=339509289&s=FLL&t=FLL

MARKET DATA http://www.coastcountiesrealty.com/Reports/SI1.htm

The historical low made in January 2010 ($8,133/Waterfront Foot) was barely tested this January ($9,500/WFft), and the two March closed sales averaged $24,306/WFft. The average closed price per waterfront foot during the past six months ($19,291) is more than 11% higher than the 24-month average ($17,073). The 28 current listings average $29,132/WFft-with six properties priced under the 24-month average. Discounts (from last list price) waxed during the past 12 months to 29% last January, and waned since; the two March closings were each discounted 16%. The rate of new listings has increased since January: 13-average list price/WFft/month, $22,000-$32,000.

Get the details... http://www.coastcountiesrealty.com/Reports/SI1.htm