The Latest Real Estate Market Data

Flash Chart – Condos/Townhomes in Aventura, FL  33180

Flash Chart – Single Family Homes in Aventura, FL  33180

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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.

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

Aventura, FL  33180 – Single Family Homes

• The median single family home price in Aventura 33180 this week is $745,000.
• Least expensive listing:  $35,000
• Most expensive listing:  $6,900,000
• Current single family homes listed for sale:  70
• Closed sales in the last week:  6
• 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.
• Look for a persistent shift (up or down) in the MAI before we see prices move from current levels.
• Price per square foot and median List price have both been reasonably stagnant.
• The 90-day MAI stands at 17, 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 information please contact me at (305) 329-4929 or solovay.m@ewm.com

Aventura, FL  33180 – Single Family Homes as of 7/03/09

This Week

The median single family home price in Aventura 33180 this week is $497,450.  Inventory has been tightening and days-on-market increasing recently.  The Market Action Index (MAI) has been basically flat.

Price

Again this week we see a downward notch for prices.  Pricing has been weak in recent weeks and versus their absolute-high level.  We will be looking for a persistent upward ship in the MAI as a leading indicator for a trough in prices.

Price and Value

The market’s downward trends are shared across both price and value.  People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence).  Look for significant changes in the MAI as a precursor to price and value changes.

Inventory

Inventory has been falling in recent weeks with 60 properties available this week.

Market Action Index

Aventura 33180 is quite strongly in the Buyer’s Market zone.  The 90-day MAI stands at 15.

Days On Market

The properties have been on the market for an average of 262 days.  Half of the listings have come newly on the market in the past 231 or so days.  Watch the 90-day DOM trend for signals of a changing market.

The Real Estate Market Report is posted on a weekly basis.  Look for updates in the coming weeks.  For more information contact me at (305) 329-4929 or solovay.m@ewm.com

Aventura, FL  33180 – Condos & Townhomes as of 7/03/09

This Week

The median condominium price in Aventura 33180 this week is $360,000.  Inventory has been tightening and days-on-market increasing recently.  The Market Action Index (MAI) has been basically flat.

Price

Recently price has settled at a plateau even though they dipped this week.  Look for a persistent up-shift in the MAI before we see prices significantly move from these levels.

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

Aventura 33180 is still strongly in the Buyer’s Market zone.  The 90-day MAI stands at 12.

Days On Market

The properties have been on the market for an average of 294 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 signals of a changing market.

Real Estate Market Report for Aventura 33180 is posted on a weekly basis.  Look for updates in the coming weeks.  For more information 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

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.