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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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.

Chairman’s Club

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Best Cities For A Housing Recovery

Forbes magazine identified 161 of the country’s largest metro areas where sales activity has increased compared to 2008 and where foreclosure sales, as a percentage of total sales, are low.

Forbes magazine considers these markets as on the road to recovery:

1. Miami-Ft. Lauderdale, FL
2. Lincoln, NE
3. Colorado Springs, CO
4. Salem, OR
5. San Luis Obispo, CA
6. Bremerton, WA
7. Denver, CO
8. Redding, CA
9. Santa Barbara, CA
10. San Jose, CA

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

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

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 placing an increasing premium on homes.  When list prices and price per square foot consistently increase in tandem, as they are doing now, you often find short-term investment opportunities.  Watch the MAI for persistent changes as a leading indicator for these trends to flatten or drop.

Inventory

Inventory has been falling in recent weeks with 76 properties available this week.  Note that declining inventory alone does not signal a strengthening market.  Look to the MAI to gauge whether buyer interest is falling with the available supply.

Market Action Index (MAI)

The Market Action Index for Aventura – 33180 is strongly in the Buyer’s Market zone.  The 90-day MAI is at 14.  With several months of inventory available at the current sales rate, buyers should find ample choice.

Days on Market

The properties have been on the market for an average of 254 days.  Half of the listings have come newly on the market in the past 220 or so days.  Watch the 90-day DOM trend for signals of a changing market.

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

Retirement Planning:  Buy Real Estate in Your IRA

Most people do not realize that there is an IRS provision that let’s them use their Self-Directed IRA to purchase real estate. This can be an excellent way to invest in that foreclosure property you were interested in.   Remember, your investment grows tax free in an IRA.

What types of Real Estate can be used for IRA’s?      

• residential
• condos
• multifamily units
• land
• commercial strip malls
• hotels

Why have the IRA invest in Real Estate?

• dissatisfaction with stocks & bonds
• real estate is a tangible asset
• real estate produces rental income which is tax free until distribution
• great appreciation at this time with foreclosures & REO’s

Yes, you can hold property in your retirement account, but there are many rules so be careful.  A mistake can turn into a tax disaster.  Be sure to follow Self-Directed IRA rules. You have to get your dollars from your retirement custodian (probably your broker) to an independent custodian that offers real estate as an investment option. 

While real estate isn’t appropriate for everyone’s retirement account, it should at least be looked at as another option in retirement investment alternatives. Consult with an expert in the field.

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