There is a huge disparity between the single-family and condo real estate market in Aventura, Florida. Although Aventura is known for its luxury highrises overlooking the golf course and Intracoastal Waterways, it also has an active single-family market.
- Highest priced listing: $3,914,000
- Lowest priced listing : $364,888
- Properties currently under contract: 6
- Closed properties since 1/1/2007: 13
- According to the closed sales – there are 28 months of inventory in the Aventura single-family market.
- Highest priced listing: $4,800,000
- Lowest priced listing : $110,000
- Properties currently under contract: 172
- Closed properties since 1/1/2007: 382
- According to the closed sales – there are 38.5 months of inventory in the Aventura condo market.
As you can see by these numbers, it is definitely a buyer’s market. There are a lot of properties for sale and very few closings.
There are over 2000 condo listings in Aventura alone!! If you are a condo seller this means the following:
- price competitively from the start (don’t make the mistake of comparing your condo unit with other units on the market – only look at closed sale prices)
- be accessible and make sure your real estate agent is easily accessible as well. Showing at a short moment’s notice can make the difference.
- Make sure your condo-unit is in tip-top shape (repairs leaky faucets, no squeaky doors, clean and immaculate)
- Make sure the place shows beautifully – a professional stager may be worth the extra expense.
- Be flexible! (we don’t mean “give it away” – but if you want to sell, the price needs to be negotiable).
If you are a buyer you do have the upper hand – this doesn’t mean you have the right to offend sellers with ridiculous low offers, but it means that someone who is serious about selling will be willing to negotiate. Working with a Realtor is of upmost importance when trying to see this amount of inventory. A Realtor that works the area will only show you properties that meet your needs rather than seing 200 properties before you make a move.
For more information about Aventura Real Estate and other real estate markets in South Florida, please contact RICK & INES at info@miamism.com
