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.

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Median Price for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $357,539

Inventory for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 892

Average Days on Market for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 244

Median Price per Sqft for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $246

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

How’s The Real Estate Market?

MIAMI-AVENTURA 33180 Real Estate Market

All the market trend charts on this page are ‘live’. Bookmark this page to watch the market change each week. Want more details? Subscribe to my Real-Time Market Report. It’s all about what’s going on right now and it’s free! Let me know which neighborhoods you’re interested in and we’ll get you my Real-Time Market Report today! To register click here and make your selection.  You can select Hallandale-33009, Hollywood-33019, Aventura-33180, North Miami Beach-33160 or Miami Beach-33139.

90-day stats for Single Family properties in MIAMI, FL33180 - Aventura as of February 3, 2012
Median List Price:	$747,915	Average List Price:	$849,788
Total Inventory:	62	Price per Square Foot:	$261
Average Home Size:	2,707	Median Lot Size:	8,945
Average # Beds:	3.90	Average # Baths:	3.45
Homes Absorbed:	3	Newly Listed:	3
Days on Market:	230	Average Age:	28

90-day stats for Condo properties in MIAMI, FL33180 - Aventura as of February 3, 2012
Median List Price:	$390,112	Average List Price:	$558,578
Total Inventory:	696	Price per Square Foot:	$255
Average Home Size:	1,520	Median Lot Size:	n/a
Average # Beds:	2.36	Average # Baths:	2.54
Homes Absorbed:	32	Newly Listed:	31
Days on Market:	276	Average Age:	19

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

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.

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!

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

Flash Chart – Condos/Townhomes in Aventura, FL  33180

Flash Chart – Single Family Homes in Aventura, FL  33180

If you would like the latest data for your area 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.

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.

To subscribe to my Real-Time Market  Report, click here.  It’s all about what’s going on right now and it’s free!

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

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

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.

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