Summer 2011 Real Estate Market Update

This real estate market update is presented by Ron Shuffield, President of EWM Realtors.  Today’s great values, which are truly half those 5 or 6 years ago,  are one reason why sales have taken off so much in 2011.  However, since January 2011 we have begun to see an increase in our prices, month after month.

Click here to view the embedded video.

Median Prices

Single Family Homes: Miami-Dade County

• January 2011  $150,000

• May 2011 – $180,000

Single Family Homes: Broward County

• January 2011 – $165,000

• May 2011 – $190,000

Condominiums: Miami-Dade County

• January 2011 – $90,000

• May 2011 – $124,000

Condominiums: Broward County

• January 2011 – $68,000

• May 2011 – $78,000

This is the best time to purchase real estate in South Florida in the past 6 years.

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

Condo Prices for Aventura, FL vs. Miami-Dade County

Are You Looking For That Special South Beach Condo?

Admiral Towers Condo, Apt 706 – $299,000.00

In the heart of the South Beach Deco District you will find the Admiral Towers Condo.  This condo, located at 1020 Meridian Av in Miami Beach, is across from Flamingo Park and just 5 blocks to the beach.  Some of the features of this property that are uncommon to this neighborhood include:

• an assigned parking space
• swimming pool
• balcony
• views to the ocean and SoBe skyline

There is one unique property available in this condo that stands out from all the rest.  It stands out because the current owner has completely renovated the unit from top to bottom.  But, in addition to just a renovation, the layout was redesigned and improved upon creating this one-of-a-kind 1 bedroom + den/office, 1.5 bath apartment home that you will fall in love with.  Some of the many improvements include:

• new kitchen with granite counter tops
• stainless steel appliances
• mahogany wood floors
• a den/office that never existed before
• renovated bathrooms
• and the list goes on

The Admiral Towers Condominium is located at 1020 Meridian Av, Miami Beach, FL  33139.  To view pictures of this property click here.

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

Do You Believe It’s A Good Time To Sell Your Home?

In a recent Keeping Current Matters blog post by Steve Harney entitled Selling Your House?  5 Reasons To Do It NOW!, Steve gives us 5 strong reasons to sell now instead of waiting until later in the year.

1)  Interest Rates Are On The Rise

Interest rates are now over 5%.  As rates increase, the mortgage amount a buyer qualifies for decreases.  Eventually this will have a negative impact on prices.

2)  Your Dream Home Will Never Be Cheaper

If you are buying, COST should be more important than PRICE.  Cost can be dramatically impacted by rising mortgage interest rates.

3)  Buyers Are Out Early

Mounting evidence is showing that buyers are coming out earlier this year than the ‘Spring Buying Season’ due to the believe that now is a good time to buy.  That coupled with the increase in interest rates has started the buying season early.

Pete Flint, CEO of Trulia:

“We’re seeing a national resurgence of buyer and seller activity on Trulia.com.  In January alone, we expierenced an unprecedented level of site traffic including 11 million unique visitors – which is more than 70% year-over-year growth.  We are now experiencing 100,000 property views per minute.”

The National Association of Realtors just reported that the number of house sales increased 12.9% over last month.

4)  Inventory Increases Every Spring

Here is the number of listings available for sale in 2010

• February – 3,531,000
• March – 3,626,000
• April – 4,029,000

Steve Harney believes that there will be an increase in these numbers in 2011 as there is a pent-up selling demand created by the weak market of the last few years.  If you sell now you won’t have to worry about this increasing competition.

5)  We Are In The Eye Of The Foreclosure Storm

As banks try to correct their foreclosure procedures, there is a large supply of discounted properties which have been delayed coming to market.  This inventory will be released sometime in the next few months.  Foreclosures sell on average at a 41% discount.  When they are released these properties will be competing with your house for buyers.  If you are looking to sell in 2011, you want to sell before this inventory becomes your competition.

Let’s sit down today and discuss the best options for you.  You can contact me at (305) 329-4929 or solovay.m@ewm.com.

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

If you would like to receive the latest real estate market 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 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 January 27, 2012
Median List Price:	$389,419	Average List Price:	$557,058
Total Inventory:	698	Price per Square Foot:	$255
Average Home Size:	1,519	Median Lot Size:	n/a
Average # Beds:	2.36	Average # Baths:	2.53
Homes Absorbed:	33	Newly Listed:	32
Days on Market:	276	Average Age:	19

Stat Table – Single Family Homes in Aventura, FL  33180

90-day stats for Single Family properties in MIAMI, FL33180 - Aventura as of January 27, 2012
Median List Price:	$747,069	Average List Price:	$849,204
Total Inventory:	62	Price per Square Foot:	$263
Average Home Size:	2,714	Median Lot Size:	8,931
Average # Beds:	3.90	Average # Baths:	3.44
Homes Absorbed:	3	Newly Listed:	3
Days on Market:	230	Average Age:	28

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.

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.

Harborside at The Waterways – 3640 Yacht Club Dr, Apt 1808 Aventura, FL 33180 – $339,000

Here is an example of pride in ownership. The owner of this property has maintained this unit extremely well. It is immaculate and available for immediate occupancy. This 2 bedroom 2 bath unit located on the 18th floor has spectacular views of The Waterways Marina & Yacht Harbor as well as the ocean and intracoastal.  This property is offered at an excellent price and available for immediate purchase.  Some important items to note are:

• 1,430 sq ft of living space
• ceramic tile floors
• custom built-in desk/work space in the second bedroom
• great south exposure
• crown moldings
• smooth ceiling
• marble master bath with walk-in shower and separate whirlpool tub
• full size washer and dryer
• 1-assigned parking space in the garage
• extra storage is included

The condominium offers 24-hr manned security gate, 24-hr manned lobby security, concierge, gym, 2 heated swimming pools and tennis courts.

click here for a virtual tour of this property

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

Eldorado Towers – 3625 N. Country Club Dr, Apt 2307 Aventura, FL  33180

For those of you that are looking for a spectacular view this is possibly one of the best you will find.  Eldorado Towers, built in 1974, is located along N. Country Club Dr in Aventura.  Here you will find breathtaking views of the newly remodeled Turnberry Isle Golf Course as well as gorgeous water views of the various lakes, water features, intracoastal and the ocean.

Just listed is a 1 BR 1.5 BA furnished unit on the 23rd floor.  This condo features a southern exposure, all newly renovated balcony with glass railing, newly renovated interior hallways.  In addition, the owner of this property completely upgraded and updated the interior of this property.  This stylish unit has gorgeous kitchen and baths and designer furniture sure to please anyone.  All this can be yours for just $159,000, furniture included.

click here for a virtual tour of this property

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

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