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Old Northeast Market Update – Conclusion

Northeast Quadrant of Old Northeast

Old Northeast Quadrant 4

For today’s final installment in the Old Northeast Market Analysis series, we’re looking at the quadrant that contains Historic Granada Terrace, from 22nd Avenue N north to 30th Avenue N and from 1st Street east to Coffee Pot Bayou. It’s a very small sample, to be sure, and very distinctive in style. Many of the homes are of the Mediterranean style, and historic guidelines ensure that new homes and additions/remodels stay true to the character of the neighborhood. The eastern border of the quadrant has sidewalks running alongside the water, ideal for jogging, walking and just enjoying the views, including lots of birds and sometimes a manatee.Old Northeast Quadrant 4 Chart 1

In addition to being a very small data sample, there’s also a big disparity in the homes – you’ll find some blocks with the large, distinctive Spanish homes we referenced above, and some blocks with small 1950’s block homes. This makes the data very hard to interpret, especially averages. For example, in 2008, the average price of 4 closed sales was $701,250, compared with the average price of 2 closed sales in 2009 at $192,500. There are only a few clear pictures we can glean. Read the rest of this entry »

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