Facts and Trends – Aventura, FL   March 2009 – May 2010

Number of Properties for Sale vs. Sold – Condo/Townhome

Analysis:

• 14% decrease in homes for sale from May 2009 – May 2010
• no significant increase or decrease in sales
• May 2009 – 19 month supply of homes for sale
• May 2010 – 16 month supply of homes for sale

For more information please contact me at (305) 329-4929 or solovay.m@ewm.com.

Real Estate Market Stats for Aventura, FL  33180

Median Price – Single Family Home vs. Condo/Townhome

Inventory – Single Family Home vs. Condo/Townhome

Average Days on Market – Single Family Home vs. Condo/Townhome

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For more information please contact me at (305) 329-4929 or solovay.m@ewm.com.

The Latest Real Estate Market Data

Stat Table – Condos/Townhomes in Aventura, FL  33180

90-day stats for Condo properties in MIAMI, FL33180 - Aventura as of July 23, 2010
Median List Price:	$347,939	Average List Price:	$455,245
Total Inventory:	1,051	Price per Square Foot:	$245
Average Home Size:	1,671	Median Lot Size:	n/a
Average # Beds:	2.25	Average # Baths:	2.26
Homes Absorbed:	37	Newly Listed:	38
Days on Market:	272	Average Age:	18

Stat Table – Single Family Homes in Aventura, FL  33180

90-day stats for Single Family properties in MIAMI, FL33180 - Aventura as of July 23, 2010
Median List Price:	$699,060	Average List Price:	$794,537
Total Inventory:	68	Price per Square Foot:	$213
Average Home Size:	2,844	Median Lot Size:	7,488
Average # Beds:	3.81	Average # Baths:	3.19
Homes Absorbed:	2	Newly Listed:	3
Days on Market:	239	Average Age:	32

If you would like the latest data for your area delivered to your e-mail then click here to subscribe to my Real-Time Market Report.  It’s free!

For more information contact me at (305) 329-4929 or solovay.m@ewm.com.

The Latest Real Estate Market Data

Flash Chart – Condos/Townhomes in Aventura, FL  33180

Flash Chart – Single Family Homes in Aventura, FL  33180

If you would like the latest data for your area click here to subscribe to my Real-Time Market Report.  It’s free!

For more information please contact me at (305) 329-4929 or solovay.m@ewm.com.

Inventory for Aventura – 33180

Condominiums

Single Family Homes

Inventory is clearly down from this time last year.  The good stuff is going fast.

For more information on buying, selling or leasing your property contact me at (305) 329-4929 or solovay.m@ewm.com.

AVENTURA, FL 33180 – CONDOS – TOWNHOMES

This Week

• The median list price in Aventura is $346,000
• Inventory is up
• Market Action is trending down recently
• Days-on-market appear to be trending lower, however the overall conditions are weakening a bit

Supply and Demand

• The Market Action Index has been trending lower for several weeks while prices have remained relatively stable.  If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

The Market Action Index answers the question “How’s the Market?”  By measuring the current rate of sale versus the amount of the inventory.  Index above 30 implies Seller’s Market Conditions.  Below 30, conditions favor the Buyer.

Price

• We continue to see prices in this zip code bouncing around this plateau.  Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

To subscribe to my Real-Time Market  Report, click here.  It’s all about what’s going on right now and it’s free!

For more information contact me at (305) 329-4929 or solovay.m@ewm.com.

Aventura, FL  33180 – Condominiums & Townhomes

• The median condominium price in Aventura 33180 for the week ending 9/25/09 is $350,000
• Lease expensive listing:  $50,000
• Most expensive listing:  $6,000,000
• Current condo & townhomes listed for sale:  1,124
• Closed sales in the last week:  58
• Inventory has been tightening and days-on-market increasing recently
• This week we continue to see a downward notch for prices in this zip code
• Inventory has been falling in recent weeks, but note that declining inventory alone does not signal a strengthening market
• The 90-day Market Action Index stands at 14, strongly in the Buyer’s Market zone

Now take a look at the market by quartiles.  Each quartile is 25% of the homes.

For more real estate information please contact me at (305) 329-4929 or solovay.m@ewm.com

Aventura, FL  33180 – Condominiums & Townhomes

• The median condominium price in Aventura 33180 this week is $360,000
• Least expensive listing: $58,900
• Most expensive listing:  $6,000,000
• Current condo & townhomes listed for sale:  1,160
• Closed sales in the last week:  43
• Inventory has been tightening and Days-On-Market increasing recently
• We saw relatively little price change from last week, however, we continue to demonstrate a nice up trend in general over the last several weeks
• The 90-day Market Action Index stands at 13, strongly in the Buyer’s Market zone

Now take a look at the market by quartiles.  Each quartile is 25% of the homes.

For more real estate information please contact me at (305) 329-4929 or solovay.m@ewm.com

Broward and Miami-Dade County Residential Inventories Continue To Decline During July

According to data from the Multiple Listing Service (MLS) , Broward and Miami-Dade residential inventories continued to decline during July 2009.

Inventories dropped from 74,966 total homes and condos for sale in July 2008, to 49,058 in July 2009, a 35% decrease in just 12 months.  During that same time frame, sales increased 47% from an average of 2,518 sales per month to 3,707 sales per month.  The inventory supply across both counties decreased from 30 months last year to 13 months today.

According to Ron Shuffield, President, EWM Realtors , “decreasing prices have been the prime motivator for our spike in sales this past year.  If you’re selling, now is the time to make sure that your property is priced accurately.  If you’re buying, your choices will continue to decrease throughout the remainder of 2009.”

You can check-out Facts & Trends reports at www.ewm.com/trendx to see the numbers for your area and price range or ask me to expand your search using our complete data file. Deals are happening!

Contact me for information for your area at (305) 329-4929 or solovay.m@ewm.com

Aventura, FL  33180 – Single Family Homes

• The median single family home price in Aventura 33180 this week is $745,000.
• Least expensive listing:  $35,000
• Most expensive listing:  $6,900,000
• Current single family homes listed for sale:  70
• Closed sales in the last week:  6
• Inventory, Days-On-Market and the Market Action Index (MAI) all recently plateaued and the market is not sending strong directional signal for the near-term outlook.
• Look for a persistent shift (up or down) in the MAI before we see prices move from current levels.
• Price per square foot and median List price have both been reasonably stagnant.
• The 90-day MAI stands at 17, strongly in the Buyer’s Market zone.

Now take a look at the market by quartiles.  Each quartile is 25% of the homes.

For more information please contact me at (305) 329-4929 or solovay.m@ewm.com