Aventura, FL 33180 – Condominiums & Townhomes as of 6/19/09
This Week
The median condominium price in Aventura 33180 is $360,000. Inventory has been tightening and days-on-market increasing recently. The Market Action Index (MAI) has been basically flat, not providing strong indication for market conditions.
Price
This week we again see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the MAI as a leading indicator for a trough in prices.
Inventory
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the MAI and Days on Market trends to gauge whether buyer interest is changing with the available supply.
Market Action Index
In Aventura 33180 the MAI is strongly in the Buyer’s Market zone. The 90-day MAI stands at 13, so with several months of inventory available at the current sales rate, buyers should find ample choice.
Days on Market
The properties have been on the market for an average of 292 days. Half of the listings have come newly on the market in the past 301 or so days. Watch the 90-day DOM trend for signs of a changing market.
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