Nearly 815 Aventura Residential Properties Listed For Rent Before Start Of South Florida Winter Season

Aventura Tenants Pay $1.78 PSF Monthly For Residential Rentals In First Nine Months Of 2019

(This Report Is Powered By Brickell Ventures LP)

DOWNTOWN MIAMI (Nov. 1, 2019) - Nearly 815 residential rental properties are formally listed for lease in the city of Aventura in the South Florida county of Miami-Dade, according to a new report from Condo Vultures® Realty LLC. 

Based on completed leases of less than 157 residential properties monthly in the first nine months of 2019, Aventura now has more than a five-month supply of rentals - apartments, condos, efficiencies, multifamily and townhouses - available 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 supply listed for lease suggests a tenant’s advantage and less months typically indicates a landlord’s advantage in the market. 

It is worth noting that about 133 rental properties are currently under contract - or pending - and waiting to transact at a median monthly asking price of about $2,200 per unit or $1.90 per square foot in Aventura. 

The median asking price of a Aventura residential rental property currently listed for lease is $2,575 per property monthly. This works out to a median asking price of $1.96 per square foot monthly, according to the data compiled by CondoVulturesRealty.com. 

In the first nine months of 2019, the median transaction price of a Aventura residential rental property was about $2,084 or about $1.78 per square foot monthly, according to the data. 

This means the current asking price of a Aventura residential rental property listed for lease is nearly 24 percent higher than the median transaction price achieved on a monthly per-property basis and about 10 percent higher than the median transaction price achieved on a monthly per-square-foot basis between January and September of this year. 

In the first three quarters of 2019, a landlord needed 58 days - on a median basis - to lease a Aventura residential rental. The current median Days-On-The-Market rate for a Aventura residential rental property listed for lease is 67, according to the statistics. 

The number of Days-On-The-Market for the residential rental properties currently under contract is about 50 in Aventura, according to the statistics.

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