Aventura Real Estate: Buying Condos In What's Perceived To be A Buyer's Market

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Formerly known as a large suburb off the city of Miami, Aventura has now blossomed as a true-blue urban enclave, with the blossoming or real estate developments, more shopping districts, entertainment, arts and culture venues, marinas, sports and leisure facilities, and top-notch educational institutions.

The property markets here are also booming despite the damage brought about by the real estate crunch, and the area has a wide offering of sing-family, waterfront homes and condominiums, which make up a large majority of the home dwelling types offered here.

Luxury Condo Choices Are Aplenty Here

For those who wish to purchase condos in this lovely city, there re many developments that offer buyers a first-class lifestyle, complete with many amenities for families, retirees and single folks. The city is famous for being called the City of Excellence, and is also recognized as the "Beverly Hills" of Florida. Aventura, Florida means luxury living and is close to everything.

The city has a large offering of condos, ranging from upmarket and luxurious developments at Porto Vita, Turnberry Village and Aventura Marina. The upmarket condos at Porto Vita have renamed stylishness in the city, and the two two luxury towers here are located along the Intracoastal Waterway. The condos at Turnberry Village offer pre-construction condo deals to buyers, and is is a twin mid-rise 14-story Mediterranean styled project that has 455 units.

Current Condo MLS Figures

Based on the recent Multiple Listing Services (MLS) figures for this city, there are currently 2,459 condo units listed in this sunny Florida city. The highest priced listing is pegged at $4,800,000 and the lowest-priced condo listing is valued at $110,000 . At present, the properties under contract are placed at 172. According to the closed sales figures, there are around 38.5 months of inventory in the city's condo market.

Is It A Buyer's Market Here Now?

According to local property market analysts, by the numbers presented on the MLS figures, it could be safely said that Aventura's condo market today would be a buyer's market of sorts, as there are many properties for sale and very few closings as well. It was noted that there were over 2000 condo listings alone, and if you're selling condos, it would mean that you would price these competitively from the start, by basing from the closed sale prices. Condo sellers here too need to be accessible and ensure that their real estate agent is easily accessible as well.

A condo seller here would also need to ensure that their condo unit is in good condition, since a competitive market would mean buyers will surely have other better choices to look at. For condo buyers, they ill surely have the upper hand in this type of market, although tis won't mean that they have the right to offend sellers with really disgusting low offers, however this would mean that someone who is serious about selling his or her condo unit will definitely be willing to negotiate.
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Charlie Ragonesi
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Interesting post I am working now with someone who is thinking about selling a condo in Miami and moving here. His agent is telling him ,almost word for word, what you are saying in your post
Apr 08, 2008 11:55 PM #1
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