FEATURED PROPERTY
SURF CLUB FOUR SEASONS PRIVATE RESI...
SURF CLUB FOUR SEASONS PRIVATE RESIDENCES is slated to be a 5-tower condo project wit...Aventura Tenants Pay $1.75 PSF Monthly For Residential Rentals In First 9 Months Of 2018
(This Report Is Powered By Brickell Ventures LP)
DOWNTOWN MIAMI (Nov. 26, 2018) - At least 690 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 nearly 114 residential properties monthly in the first nine months of 2018, Aventura now has more than a six-month supply of rentals - apartments, condos, efficiencies, multifamily and townhouses - available 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 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 162 rental properties are currently under contract - or pending - and waiting to transact at a median monthly asking price of $2,050 per unit or $1.78 per square foot in Aventura.
The median asking price of a Aventura residential rental property currently listed for lease is $2,625 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 2018, the median transaction price of a Aventura residential rental property was $2,000 or $1.75 per square foot monthly, according to the data.
This means the current asking price of a Aventura residential rental property listed for lease is about 31 percent higher than the median transaction price achieved on a monthly per-property basis and about 12 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 2018, a landlord needed 53 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 63, according to the statistics.
The number of Days-On-The-Market for the residential rental properties currently under contract is about 53 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.