Market Update Report for Aventura 33180 – August 2, 2010

Condos – Townhomes

Click here to read the report as of August 2, 2010.

This week in Aventura 33180:

• the Median Sales Price is $340,000
• the 1,055 properties have been on the market for an average of 246 days
• Inventory is tightening and Days-On-Market is falling
• the Market Action Index shows demand heating up

The market has shown some evidence of slowing recently.  Both Prices and Inventory levels are relatively unchanged in recent weeks.  Watch the Market Action Index for changes as it can be a leading indicator of price changes.

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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.

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

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.

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.