Neighborhood Real Estate Update for Aventura Condos – Quarter 1 and 2 of 2015
The Aventura Condo Market in a Nutshell
Get a quick overview of the Aventura Real Estate Market in the first half year of 2015
The ‘neighborhood economics’ blogs are excellent to gather a pulse on the Aventura Condo Market because we provide the market’s key indicators. This blog focuses on the last half year of Aventura Real Estate Data and is updated every quarter. All data are derived from the MLS South Florida.
Data are given for Aventura Condos in the price ranges of:
- $500,000 – $1M
- $1M – $2M
- $2M +
Summary of the Aventura Condo Market– Q2 2015
$500,000 – $1M
Although inventory decreased drastically in Q1, Q2 showed an increase again. Despite this increase, the inventory in the second quarter did not exceed the first quarter. Prices remained stable.
$1M – $2M
Although in the last 6 months the amount of listings increased, the amount of sold properties remained stable. In June 2015 the highest amount of condos of the entire first half year of 2015 was sold, leading to a sharp decline in the months of inventory. The market is now almost experiencing a neutral market.
Quarter 2 did not underperform compared to quarter 1. Within the second quarter there was an increase in the amount of condos listed and a decrease in the amount of condos sold leading to a sharp increase in the months of inventory.
For Sale vs Sold Properties in Aventura
An overview of how many properties were listed for sale as well as how many properties were sold per month in each price range.
The Months of Inventory in Aventura
The months of inventory is an important indicator in real estate. It indicates how many months it takes to sell all the current listings under the assumption that no new listings will enter the market.
Rules of Thumb
Buyer’s market: more than 9 months of inventory based on closed sales
Seller’s market: less than 6 months of inventory based on closed sales
Neutral market: 6 – 9 months of inventory based on closed sales
The Sales Prices in Aventura
Read our Quarterly Neighborhood analytics for:
♦ Bal Harbour
♦ Coconut Grove
♦ Coral Gables
♦ Downtown / Midtown Miami
♦ Fisher Island
♦ Key Biscayne Condos / Key Biscayne Homes
♦ Miami Beach Condos / Miami Beach Homes
♦ South Beach Condos / South Beach Homes
♦ South Miami
♦ Sunny Isles
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No generalized opinions but an analytic approach