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    Aventura Faces 48-Month Supply Of Luxury Condos Listed For Sale During Winter Buying Season

    Buyers Paid $436 PSF For Aventura Luxury Condos In First 9 Months Of 2018   

    (This Report Is Powered By Brickell Ventures LP)

    DOWNTOWN MIAMI (Nov. 26, 2018) - Nearly 250 luxury condo units are formally listed for sale at a minimum price of at least $1 million in the market of Aventura in the South Florida county of Miami-Dade, according to a new report from Condo Vultures® Realty LLC.

    Based on luxury condo sales of about five units monthly in the first nine months of 2018, Aventura now has nearly a 48-month supply of units available for purchase in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach during 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 luxury 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.

    (For the latest South Florida preconstruction condo project pipeline, please visit: CraneSpotters.com.)

    Currently, about eight Aventura luxury condo units are under contract - or pending - and waiting to transact at an average asking price of less than $1.5 million each or about $484 per square foot, according to the statistics. 

    The average asking price of a Aventura luxury condo currently listed for sale is less than $1.9 million per unit. This works out to an average asking price of about $585 per square foot, according to the data compiled by CondoVulturesRealty.com.

    In the first nine months of 2018, the average transaction price of a Aventura luxury condo was less than $1.4 million or about $436 per square foot.

    This means the current asking price of a Aventura luxury condo listed for sale is about 37 percent higher than the average transaction price achieved on a per-unit basis and about 34 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 2018, the sellers who were able to unload their units needed about 177 days to transact a Aventura luxury condo listed for sale. The current Days-On-The-Market average for Aventura luxury condos listed for sale is about 272, according to the statistics.

    The number of Days-On-The-Market for the luxury condo units currently under contract is about 82 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.

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