Miami, FL Is Number One

Miami, FL is the number one town on REALTOR.com’s Q4 Top 10 Turnaround Towns Report.  According to the Miami Association of Realtors, sales of existing single family homes in the Miami Metropolitan Area increased 51% in the 3rd quarter compared to a year ago.  Miami has half as many properties in Realtor.com’s inventory of listings as it had a year ago.  Also, Miami continues to be a hot market for international buyers.  In May, international buyers purchased about 60% of the existing houses and condos and 90% of the newly built homes in Miami.  According to the experts, Miami, one of the hardest hit foreclosure markets, is on its way back.

Fort Lauderdale, FL made the list as well coming in at number eight.  The list also includes several other Florida cities.

I can help you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or solovay.m@ewm.com.

For more information visit the City of Aventura website at:  www.cityofaventura.com

]]> http://whatsthepointofaventura.com/2009/09/02/town-hall-meeting/feed/ 0 http://whatsthepointofaventura.com/2009/03/02/facts-and-trends-aventura-fl/ http://whatsthepointofaventura.com/2009/03/02/facts-and-trends-aventura-fl/#comments Mon, 02 Mar 2009 21:14:26 +0000 Michael Solovay http://whatsthepointofaventura.com/?p=618

Aventura Condos

November 2007 – January 2009

We can see from the chart that:

• 2,053 condos were for sale  in 1/08  vs 1,732 condos for sale  in 1/09 = 16% decrease in the number of condos for sale 
• Amount of inventory went from 57 months supply last year to 31 months supply currently
• 55% increase in number of sales

Interesting Facts:

December 2008 – January 2009

Short Sale Inventory:          331 = 19% of total inventory for sale

Foreclosure Inventory:        31 = 2% of total inventory for sale

                                                      ————–

Total                                            362 = 21% of total inventory for sale

Short Sale Closings:               18% of total closings

Foreclosure Closings:          32% of total closings

                                                     —————-

Total                                           50% of total closings

50% of all Closings for the period were Short Sales and Foreclosures.

For more information please contact me at solovay.m@ewm.com