Please notice that in July of 2008, there were 73 units for sale in the beautiful Turnberry on the Green high rise in Aventura. Many of these sales were foreclosures and short sales.
In the past year, 50% of these apartments were sold and now there are only 35 units on the market and the prices have improved, as well.
A year ago, it took 251 days for an apartment in Turnberry on the Green to sell, now it takes 177 days to sell. These are averages. Naturally, the better priced units sell quicker than overpriced ones.
The price per square foot has declined. In 2008, the average price per square foot was $228 and now it is $215. This reflects the change in prices throughout Dade County.
However, as the market stabilizes and inventories shrink, prices should start their climb upward.
It is a good time to buy and a good time to sell. Check out my property search. Call me to obtain an opinion of value for your home, as well.