Tag Archives: Aventura Estates

The Aventura Mall Expansion Is Underway

Aventura, FL – The beautiful city of Aventura is not only a great place to live in the many communities such as Porto Vita, Island Estates, Aventura Estates and also play golf at The Turnberry Isle Resort & Golf Club but the city is known for one of the nations largest and highest grossing luxury shopping malls in the US., “The Aventura Mall”. To many of us, it has become not only a convenience but staple of our Lifestyle.

The Aventura Mall not only has some of the best shopping around, its also has great restaurants, a movie theater, and an Equinox Gym. Well, if anyone is wondering what all the construction is on the east side of the mall, you can bet it’s going to be big. The new expansion of the mall includes a 315,000 sq. ft. retail wing and parking garage along with a host of destination restaurants and a new state of the art food court.QE5oWH2 Starting to sound good to you isn’t it? To top it all off, renderings have revealed plans for a new Tesla store to be included in the expansion. Let me know what stores you would want to see be included in the expansion in your comments below!

– Scott

South Florida Real Estate Market Update

Last time I discussed with you a trend on the South Florida real estate market in which home prices are dropping and South Florida home buyer interest is rising.

Today I’d like to discuss with you a recent report by Zillow.com that further breaks down the drop in South Florida home prices.

Zillow.com is a Seattle-based company that studies real estate trends all across the country.

South Florida Homes for Sale

According to the recent report by Zillow.com, South Florida home values decreased by 12.8 percent during the first quarter of 2011 when compared to the first quarter of 2010.

Compared with the 25 largest metropolitan areas, the South Florida area (which includes Palm Beach County, Broward County and Miami-Dade County) ranked number five for steepest drops in home values.

Detroit and Atlanta tied for the largest annual decline in home values at 17.3 percent.

Here’s what else the real estate website reported about our South Florida real estate market:

  • South Florida home values have dropped to 2002 levels.
  • Miami-Dade and Broward County home values are less than half of what they were five years ago.

And although Zillow.com previously predicted that the national housing market would bottom out by late 2011, experts are now saying that the housing market won’t bottom out until 2012.

Since Florida’s housing market crashed before much of the rest of the country, my prediction is that our housing market will bottom out earlier than that.

Purchasing a South Florida Home for Sale

The news from Zillow.com is likely grim news for South Florida home sellers looking to get a great price for their South Florida home for sale.

But for South Florida home buyers, conditions are just right to enter the South Florida real estate market.

For more information contact me today to further discuss your options on the South Florida real estate market as a South Florida home buyer.

Feel free to browse some of our amazing residential communities in South Florida online.  These include:

Until next time,

Scott

Gated Single Family And Townhome Communities In Aventura Florida

Aventura Florida Real Estate Community YTD Market Report

Aventura Lakes

Number of current Active Listings: 16
Highest Priced Listing: $1,650,000
Lowest Priced Listing: $499,000
Number of Sales this year: 8
Highest Priced Sale YTD: $873,000
Lowest Priced Sale YTD: $620,000

Island Estates

Number of current Active Listings: 3
Highest Priced Listing: $6,700,000
Lowest Priced Listing: $5,900,000
Number of Sales this year: 1
Highest Priced YTD Sale: $4,250,000
Lowest Priced YTD Sale: N/A

Courtyards at the Point:

Number of current Active Listings: 6
Highest Priced Listing: $1,980,000
Lowest Priced Listing: $1,200,000
Number of Sales this year: 2
Highest Priced Sale YTD: $1,400,000
Lowest Priced Sale YTD: $915,000

Golden Pointe:

Number of current Active Listings: 4
Highest Priced Listing: $640,000
Lowest Priced Listing: $588,000
Number of Sales this year: 1
Highest Priced Sale YTD: $660,000
Lowest Priced Sale YTD : N/A

Aventura Estates:

Number of current Active Listings: 9
Highest Priced Listing: $1,999,000
Lowest Priced Listing: $949,000
Number of Sales this year: 2
Highest Priced Sale YTD : $1,126,000
Lowest Priced Sale YTD: Not Disclosed

Island Way:

Number of current Active Listings: 3
Highest Priced Listing: $899,999
Lowest Priced Listing: $735,000
Number of Sales this year: 5
Highest Priced Sale YTD: $970,000
Lowest Priced Sale YTD: $720,000

Presidential Estates:

Number of current Active Listings: 15
Highest Priced Listing: $3,250,000
Lowest Priced Listing: $999,000
Number of Sales this year: 5
Highest Priced Sale YTD: $3,200,000
Lowest Priced Sale YTD: $900,000

Villa Flora

Number of current Active Listings: 4
Highest Priced Listing: $3,700,000
Lowest Priced Listing: $1,999,000
Number of Sales this year: 0
Highest Priced Sale YTD: N/A
Lowest Priced Sale YTD : N/A

Porto-Vita

Number of current Active Listings: 1
Highest Priced Listing: $2,850,000
Lowest Priced Listing: N/A
Number of Sales this year: 0
Highest Priced Sale YTD: N/A
Lowest Priced Sale YTD: N/A

Scott Patterson Aventura Real Estate
Phone: 305.466.3070

*Data courtesy of MLS