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

Hollywood, FL  33019 – Single Family Homes

There are currently 191 single family homes listed for sale in the 33019 zip code.

• Highest priced listing:  $7,000,000 (9 BR 9 BA 4 Half Baths in the Hollywood Lakes subdivision)
• Lowest priced listing:  $169,000 (3 BR 1 BA in the Hollywood Terrace subdivision)
• Pending sales:  28
• Closed sales in the past 30 days:  9
  • Highest sale price:  $1,520,000 (6 BR 4.5 BA at 1449 Commodore Wy in  Harbor Islands)
  • Lowest sale price:  $175,000 foreclosure (3 BR 2 BA at 820 N 13th Av in Hollywood Lakes)

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

In the quartile market segments, we see the high-end (Quartiles 1 and 2) of the market in this zip code showing some price strength in recent weeks, while Quartile 4 is down and Quartile 3 is at a bit of a plateau.  Without strong directional indication in pricing, we look at the Market Action Index (MAI) for a leading indicator of where prices in general are heading. The 90-day MAI is at 11 which strongly indicates a Buyer’s market.

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

Condominiums in zip code 33160 (including Sunny Isles Beach & North Miami Beach)

There are currently 2,084 condominiums listed for sale in the 33160 zip code.

• Highest priced listing: $12,900,000 (4 BR 4.5 BA at Acqualina Ocean Resort)
• Lowest priced listing:  $40,000 (cabana w/ bathroom at  Oceania III Condo)
• Pending Sales:  263
• Closed sales in the past 30 days: 60
  • Highest sale price:  $2,000,000 (4 BR 6.5 BA at Turnberry Ocean Colony)
  • Lowest sale price:  $35,000 foreclosure (1 BR 1 BA at Tall Trees Condo)

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

In the quartile market segments, we see the lower half of this zip code is showing slight pricing weakness, while the upper half of the market is slightly positive.  Quartile 1 has been trending up recently, but unless we see a persistent up-shift in the Market Action Index (MAI), it will likely resume the trend of the rest of the market.  Currently the MAI for this market is 11 signifying a Buyer’s market.

For more information 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