condovulturesrealty.com
Buyer Experts Specializing In Miami-Dade, Broward, Palm Beach Since 2006
Blog Home » SOUTH FLORIDA MARKET INTELLIGENCE REPORT » Nearly 20-Month Supply Of Aventura Condos Listed For Sale Before Start Of South Florida Winter Buying Season

Nearly 20-Month Supply Of Aventura Condos Listed For Sale Before Start Of South Florida Winter Buying Season

More Than 1,550 Condos Listed For Sale In Aventura

(This Report Is Powered By Brickell Ventures LP)

DOWNTOWN MIAMI (Oct. 29, 2019) - More than 1,550 condo units are formally listed for sale in the Aventura market in the South Florida county of Miami-Dade, according to a new report from Condo Vultures® Realty LLC.

Based on condo sales of less than 79 units monthly in the first nine months of 2019, the Aventura market now has nearly a 20-month supply of units available for purchase in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach before the start of the Winter Buying Season, according to the report based on data from the Southeast Florida MLS Matrix.

A balanced market is generally considered to have about six months of supply. More months of condo supply listed for sale suggests a buyer’s advantage and less months typically indicates a seller’s advantage in the market.

It is worth noting this report only tracks those Aventura condos formally listed for sale. The report does not factor in the nearly 47,500 new condo units currently in the development pipeline east of Interstate 95 in the tricounty South Florida region.

Currently, about 104 Aventura condo units are under contract - or pending - and waiting to transact at an average asking price of about $340,075 each or about $241 per square foot, according to the statistics. 

The average asking price of a Aventura condo currently listed for sale is nearly $671,695 per unit. This works out to an average asking price of about $335 per square foot, according to the data compiled by CondoVulturesRealty.com.

In the first nine months of 2019, the average transaction price of an Aventura condo was more than $402,015 or about $243 per square foot.

This means the current asking price of an Aventura condo listed for sale is about 67 percent higher than the average transaction price achieved on a per-unit basis and nearly 38 percent higher than the average transaction price on a per-square-foot basis between January and September of this year.

In the first three quarters of 2019, the sellers who were able to unload their units needed about 149 days to transact a Aventura condo listed for sale. The current Days-On-The-Market average for Aventura condos listed for sale is about 227, according to the statistics.

The number of Days-On-The-Market for the condo units currently under contract is about 122 in Aventura, according to the statistics.

CondoVulturesRealty.com is a licensed Florida brokerage that specializes in assisting buyers and tenants in value-oriented condo acquisitions and leases in the tricounty region of Miami-Dade, Broward and Palm Beach.