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  • PRECONSTRUCTION
    CONDO PROJECT TRACKER
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    Nearly 1,600 Aventura Condos Listed For Sale At Peak Of South Florida Winter Buying Season

    Buyers Purchased More Than 1,000 Aventura Condos In Year 2018

    (This Report Is Powered By Brickell Ventures LP)

    DOWNTOWN MIAMI (March 16, 2019) - Nearly 1,600 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 about 84 units monthly in the 12 months of 2018, the Aventura market now has nearly a 19-month supply of units available for purchase in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach at the peak 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.

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

    Currently, about 116 Aventura condo units are under contract - or pending - and waiting to transact at an average asking price of nearly $426,190 each or about $251 per square foot, according to the statistics. 

    The average asking price of a Aventura condo currently listed for sale is more than $669,785 per unit. This works out to an average asking price of about $330 per square foot, according to the data compiled by CondoVulturesRealty.com.

    In the 12 months of 2018, the average transaction price of an Aventura condo was nearly $401,465 or about $248 per square foot.

    This means the current asking price of a Aventura condo listed for sale is nearly 67 percent higher than the average transaction price achieved on a per-unit basis and about 33 percent higher than the average transaction price on a per-square-foot basis between January and December of last year.

    In the four quarters of 2018, the sellers who were able to unload their units needed about 145 days to transact a Aventura condo listed for sale. The current Days-On-The-Market average for Aventura condos listed for sale is about 206, according to the statistics.

    The number of Days-On-The-Market for the condo units currently under contract is about 188 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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