Condominiums Report for the week of 6/5/09
Median Price: This week the median condominium price in Aventura 33180 is $364,500. We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up shift in the Market Action Index before we see prices move from these levels
Inventory in 33180: Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to guage whether buyer interest is changing with the available supply. Conditions are strongly in the Buyer’s Market zone. 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 294 or so days. Watch the 90-day DOM trend for signals of a changing market.
Market Action Index: On the Market Action Index a score below 30 equals a Buyers market. The Market Action Index is 12 in Aventura 33180.
For more information on the market in your area contact me at (305) 329-4929 or [email protected]. You can sign up for your own Market Report by filling out the Contact Form under the Local Stats tab located at the top of the page.