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 this week is $360,000
• Least expensive listing: $58,900
• Most expensive listing:  $6,000,000
• Current condo & townhomes listed for sale:  1,160
• Closed sales in the last week:  43
• Inventory has been tightening and Days-On-Market increasing recently
• We saw relatively little price change from last week, however, we continue to demonstrate a nice up trend in general over the last several weeks
• The 90-day Market Action Index stands at 13, 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