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