The news for the month of October has not been encouraging for sellers.<\/p>\n
In the single family home market, ten homes with an average price of $829k were on the market and there was only one sale.\u00a0 The average price per square foot for this sale was $261.\u00a0 There were no sales during July, August or September.<\/p>\n
The condo market is more deeply affected by the recession in Aventura.\u00a0 There were 1033 condos for sale in October, 40 were sold and the average days on the market were 165 up from 130 the month before.\u00a0 Sales were 93% ofthe asking price and the average price sold was $306K<\/p>\n
The important lesson to be learned from these statistics is that properties must be priced right when they first go on the market.\u00a0 The lowest price you can ask will get the attention of the market and it is wise to come out with that best price as soon as you go on the market then start too high and lower it as the months pass by.<\/p>\n
On the other hand, this market should be encouraging for buyers.\u00a0 Interest rates are down to 5.5 for a 30 year fixed and with so much inventory on the market, offers will be well received.<\/p>\n","protected":false},"excerpt":{"rendered":"
The news for the month of October has not been encouraging for sellers. In the single family home market, ten homes with an average price of $829k were on the market and there was only one sale.\u00a0 The average price per square foot for this sale was $261.\u00a0 There were no sales during July, August<\/p>\n