In the past 30 days, there have been 25 condo sales in Aventura. But there are 915 condos still for sale and more are coming up, every day. The rates of foreclosures have risen and the sale prices are affected by this phenomonem.
In the single family market, there are 213 homes on the market in the Aventura area and 10 sold in the past thirty days.
However, signs of some decent activity is in the Pending Sales. 46 condos went into contract in the last 30 days and 10 more single family homes went into contract. So in a month or two, we will see these pending sales become closed sales.
As credit markets loosen up and prices come down to meet the market, we will see the Aventura inventories start to decline.
Any questions? Let me hear from you.