We have some very encouraging news, here! From 2/08 until 4/09 the inventory of condos, county wide, has shrunk.
In February of 2008, Dade County had 53 months supply of condos of all prices and only 470 a month were selling. Now in April of 2009, it has gone down to 27 months supply and we are selling 753 condos a month. This shows an increase in sales of more than 60%.
Now, exactly what is selling? Properties priced below 300k are the faster growing sales in Dade County. These properties are driving the market. But, eventually supplies will soon become limited and prices will go up. This is a very promising trend.
In the market of condos priced between 300k and 999k, it is very slow going. Only 128 condos are sold each month and the most competitively priced condos are the ones selling.
So, if you are looking for a real deal, there are condos priced under $100k available which was unheard of a few years ago. Real Estate is more affordable now than many people realize.
Even on Country Club Drive In Aventura, there are apartments available, now, under $100k!!
Call me to take a look at what you are missing!!
