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]]> http://whatsthepointofaventura.com/2011/05/18/hows-the-real-estate-market-in-your-area/feed/ 0 http://whatsthepointofaventura.com/2011/05/13/miami-fl-real-estate-market-conditions-may-6-2011-2/ http://whatsthepointofaventura.com/2011/05/13/miami-fl-real-estate-market-conditions-may-6-2011-2/#comments Fri, 13 May 2011 07:42:00 +0000 Michael Solovay http://whatsthepointofaventura.com/2011/05/13/miami-fl-real-estate-market-conditions-may-6-2011/ Text and HTML that you enter here will be the introduction

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Median Price for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $799,000

Inventory for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 55

Average Days on Market for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 253

Median Price per Sqft for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $261

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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

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.

Real Estate Market Report For Aventura 33180

Executive Summary for Condos – Townhomes

January 3, 2011

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For more 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!

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 for the week ending 9/25/09 is $350,000
• Lease expensive listing:  $50,000
• Most expensive listing:  $6,000,000
• Current condo & townhomes listed for sale:  1,124
• Closed sales in the last week:  58
• Inventory has been tightening and days-on-market increasing recently
• This week we continue to see a downward notch for prices in this zip code
• Inventory has been falling in recent weeks, but note that declining inventory alone does not signal a strengthening market
• The 90-day Market Action Index stands at 14, strongly in the Buyer’s Market zone

Now take a look at the market by quartiles.  Each quartile is 25% of the homes.

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