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Real Estate Market Report – Aventura, FL 33180

Michael Solovay — Tue, 04 May 2010 21:50:26 +0000

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.

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

Real Estate Market Report – Condo/Townhomes in Aventura 33180

Michael Solovay — Wed, 29 Jul 2009 12:00:26 +0000

Aventura, FL 33180 – Condominiums & Townhomes

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.

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

Condominium Real Estate Market Report for Aventura, FL

Michael Solovay — Mon, 29 Jun 2009 12:30:15 +0000

Aventura, FL 33180 – Condominiums & Townhomes 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 a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the MAI as a leading indicator for a trough in prices.

Inventory

Inventory has been falling in recent weeks. 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.

Market Action Index

In Aventura 33180 the MAI is strongly in the Buyer’s Market zone. The 90-day MAI stands at 13, so 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 292 days. Half of the listings have come newly on the market in the past 301 or so days. Watch the 90-day DOM trend for signs of a changing market.

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

Single Family Home Real Estate Market Report for Aventura, FL

Michael Solovay — Fri, 26 Jun 2009 23:45:36 +0000

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.

Market Update for Aventura, FL: 33180

Michael Solovay — Mon, 08 Jun 2009 17:19:20 +0000

Condominiums Report for the week of 6/5/09

Median Price: This week the median condominium price in Aventura 33180 is $364,500. We continue to see prices in this zip code bouncing around this plateau. Look for a persistent upshift in the Market Action Index before we see prices move from these levels

Inventory in 33180: Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to guage whether buyer interest is changing with the available supply. Conditions are strongly in the Buyer’s Market zone. 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 292 days. Half of the listings have come newly on the market in the past 294 or so days. Watch the 90-day DOM trend for signals of a changing market.

Market Action Index: On the Market Action Index a score below 30 equals a Buyers market. The Market Action Index is 12 in Aventura 33180.

For more information on the market in your area contact me at (305) 329-4929 or solovay.m@ewm.com. You can sign up for your own Market Report by filling out the Contact Form under the Local Stats tab located at the top of the page.

Market Report: Aventura, Florida 33180

Michael Solovay — Tue, 02 Jun 2009 02:24:54 +0000

Condo Report for week ending 5/31/09

Sign up for your own Market Report by clicking on the Local Stats tab above, then fill out the request form to get the market report for the zip code of your choice. You can always contact me at (305) 329-4929 or solovay.m@ewm.com for more information.