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Is It True That Sales Are Up And Inventories Are Down?

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

Broward County InventoryMiami-Dade County Inventory

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 [email protected]

Written by Michael Solovay | Discussion: No Comments »

Real Estate Market Report – Single Family Homes in Aventura 33180

Aventura, FL  33180 – Single Family HomesIsland Way Home

  • 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.

Neighborhood Detail - Aventura, FL  33180

Island Way HomesIsland Way Homes

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

Characteristics by Quartile

For more information please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Real Estate Market Report – Condo/Townhomes in Aventura 33180

Aventura, FL  33180 – Condominiums  & Townhomes

City of Aventura

  • The median condominium price in Aventura 33180 this week is $354,900.
  • Least expensive listing: $59,900
  • Most expensive listing: $6,000,000
  • Current condominiums listed for sale: 1,221
  • Closed sales in the last week: 41
  • 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.
  • Prices in 33180 have been on a downward trend recently and this week, while essentially flat, does not break us out of that cycle.
  • The 90-day MAI stands at 13, clearly in the Buyer’s Market zone.

Real-Time Market Profile - Aventura 33180 Condo/Townhomes

Turnberry Isle Golfcourse

Waterways Marina

One Island Place

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

Characteristics per Quartile

For more information please contact me at (305) 329-4929 or [email protected]

Enhanced by Zemanta

Written by Michael Solovay | Discussion: No Comments »

Real Estate Market Report – Condo/Townhomes in Hallandale 33009

Hallandale Beach, FL  33009 – Condominiums & Townhomes

There are currently 1,142 condominiums listed for sale in the 33009 zip code.Hallandale Beach, Florida

  • Highest priced listing:  $2,000,000 (4 BR 4.5 BA in The Beach Club)
  • Lowest priced listing:  $34,000 (1 BR 1 BA in Parkside Manor)
  • Pending sales:  160
  • Closed sales in the past 30 days:  46
    • Highest sale price:  $720,000 short sale (3 BR 3.5 BA in The Beach Club)
    • Lowest sale price:  $41,000 foreclosure (1 BR 1 BA in Strand Plaza Condo)

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

Hallandale Condominiums by Quartile

In the quartile market segments, we see prices in this zip code have settled at a price plateau across the board.  Prices in all four quartiles are basically mixed.  Look for a persistent shift (up or down) in the Market Action Index (MAI) before prices move from these current levels.  The 90-day MAI is at 13 which strongly indicates a Buyer’s market.  Inventories have been falling in recent weeks, but note that declining inventory alone does not signal a strengthening market.  Look to the MAI and Days on Market trends to gauge whether buyer interest is changing with the available supply.

The Beach Club CondoHallandale Beach, FLParkside Manor CondoThe Duo Condo

For more information contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Real Estate Market Report – Single Family Homes in Hollywood 33019

Hollywood, FL  33019 – Single Family Homes

There are currently 191 single family homes listed for sale in the 33019 zip code.Hollywood, Florida

  • Highest priced listing:  $7,000,000 (9 BR 9 BA 4 Half Baths in the Hollywood Lakes subdivision)
  • Lowest priced listing:  $169,000 (3 BR 1 BA in the Hollywood Terrace subdivision)
  • Pending sales:  28
  • Closed sales in the past 30 days:  9
    • Highest sale price:  $1,520,000 (6 BR 4.5 BA at 1449 Commodore Wy in  Harbor Islands)
    • Lowest sale price:  $175,000 foreclosure (3 BR 2 BA at 820 N 13th Av in Hollywood Lakes)

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

Single Family Homes - Hollywood, FL  33019

In the quartile market segments, we see the high-end (Quartiles 1 and 2) of the market in this zip code showing some price strength in recent weeks, while Quartile 4 is down and Quartile 3 is at a bit of a plateau.  Without strong directional indication in pricing, we look at the Market Action Index (MAI) for a leading indicator of where prices in general are heading. The 90-day MAI is at 11 which strongly indicates a Buyer’s market.

Hollywood LakesHollywood, FL

For more information contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 1 Comment »

Real Estate Market Report – Condominiums in 33160

Sunny Isles Beach, FL

Condominiums in zip code 33160 (including Sunny Isles Beach & North Miami Beach)

There are currently 2,084 condominiums listed for sale in the 33160 zip code.

  • Highest priced listing: $12,900,000 (4 BR 4.5 BA at Acqualina Ocean Resort)
  • Lowest priced listing:  $40,000 (cabana w/ bathroom at  Oceania III Condo)
  • Pending Sales:  263
  • Closed sales in the past 30 days: 60
    • Highest sale price:  $2,000,000 (4 BR 6.5 BA at Turnberry Ocean Colony)
    • Lowest sale price:  $35,000 foreclosure (1 BR 1 BA at Tall Trees Condo)

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

Condos in 33160 - Characteristics per Quartile

In the quartile market segments, we see the lower half of this zip code is showing slight pricing weakness, while the upper half of the market is slightly positive.  Quartile 1 has been trending up recently, but unless we see a persistent up-shift in the Market Action Index (MAI), it will likely resume the trend of the rest of the market.  Currently the MAI for this market is 11 signifying a Buyer’s market.

Sunny Isles Beach, FLSunny Isles Beach, Florida 33160

For more information contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Real Estate Market Report – Aventura Single Family Homes

Aventura, FL  33180 – Single Family Homes as of 7/03/09

Real Estate Market Report

This Week

The median single family home price in Aventura 33180 this week is $497,450.  Inventory has been tightening and days-on-market increasing recently.  The Market Action Index (MAI) has been basically flat.

Price

Again this week we see a downward notch for prices.  Pricing has been weak in recent weeks and versus their absolute-high level.  We will be looking for a persistent upward ship in the MAI as a leading indicator for a trough in prices.

Price and Value

The market’s downward trends are shared across both price and value.  People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence).  Look for significant changes in the MAI as a precursor to price and value changes.

Inventory

Inventory has been falling in recent weeks with 60 properties available this week.

Market Action Index

Aventura 33180 is quite strongly in the Buyer’s Market zone.  The 90-day MAI stands at 15.

Days On Market

The properties have been on the market for an average of 262 days.  Half of the listings have come newly on the market in the past 231 or so days.  Watch the 90-day DOM trend for signals of a changing market.

The Real Estate Market Report is posted on a weekly basis.  Look for updates in the coming weeks.  For more information contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 3 Comments »

Real Estate Market Report – Aventura Condominiums

Aventura, FL  33180 – Condos & Townhomes as of 7/03/09

Real Estate Market Report - Aventura, FL  33180

This Week

The median condominium price in Aventura 33180 this week is $360,000.  Inventory has been tightening and days-on-market increasing recently.  The Market Action Index (MAI) has been basically flat.

Price

Recently price has settled at a plateau even though they dipped this week.  Look for a persistent up-shift in the MAI before we see prices significantly move from these levels.

Inventory

Inventory has been Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

Condominium Real Estate Market Report for Aventura, FL

Aventura, FL  33180 – Condominiums & Townhomes as of 6/19/09

Condo Market Report as of 6/19/09

This Week

The median condominium price in Aventura 33180 is $360,000.  Inventory has been tightening and days-on-market increasing recently.  The Market Action Index (MAI) has been basically flat, not providing strong indication for market conditions.

Price

This week we again see Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

Single Family Home Real Estate Market Report for Aventura, FL

Aventura, FL 33180 – Single Family Homes as of 6/19/09

Market Update for Single Family Homes in Aventura, FL

This Week

The median single family home price this week is $722,000.  Inventory has been tightening and days-on-market increasing recently.  The Market Action Index has been basically flat, not providing strong indication for market conditions.

Price

This week saw relatively little price change from last week, however, we continue to demonstrate a nice up trend over the last several weeks.

Price and Value

The market appears to be Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

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