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Tag Archives: Aventura Condos

2010 Real Estate Market Report for The Point in Aventura, Florida

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The year 2010 proved rather successful for The Point development in Aventura, Florida.  Several South Florida real estate buyers invested in condos at each of The Point’s five towers and it’s easy to see why.
The Point community is the apex of luxury living.  From its breath-taking views of the Atlantic Ocean and Intracoastal Waterway to its resort style amenities, The Point has it all!
I recently compiled all the 2010 sales data for The Point to see just how successful 2010 was for this development and even I was impressed with how well the community fared. If you are in the market to buy or sell real estate in Aventura, such as at The Point, this information will prove invaluable for you.

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High End Real Estate Sales Making a Comeback in the Aventura Florida Real Estate Market

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A new record was recently broken in the South Florida real estate market when I closed on 3903 Island Estates Drive in Aventura in December, it became the highest priced sale on an Aventura single family home since 2006 and the 2nd highest priced sale for a single family home ever.

This gorgeous 6 bedroom, 8.5 bathroom new construction home sold for $4,350,000 in December, it was a cash transaction.

Luxury Home Sales Picking Up in South Florida

Our recent closing on 3903 Island Estates Drive illustrates a larger trend in the Aventura real estate market.  Wealthy home buyers are returning to the luxury housing market en masse.  Why? Because this is the perfect environment for buying a luxury South Florida property:

  • A stronger stock market has boosted home buyer confidence
  • Low interest rates have created a buyer’s market in Aventura, Florida
  • Signs abound that prices for luxury properties have bottomed out , giving South Florida home buyers yet another reason to enter the market.

All of this has led to an increase in home and condo sales in Miami-Dade and Palm Beach counties.  In December, there were at least 5 condo sales in Palm Beach County that sold for more than $2 million.  Twenty-five houses also sold for more than $2 million in Palm Beach County.

In Miami-Dade County, at least 10 homes and 15 condos sold for more than $2 million in December.

The spike in real estate activity can be largely attributed to foreign buyers such as Canadians and Brazilians wanting to take advantage of the low prices on condos, said Ron Shuffield, president of our company, Esslinger-Wooten-Maxwell, Inc. Realtors. That factor definitely played a role in the recent sale of 3903 Island Estates Drive: the buyer was Brazillian.

Buying an Aventura, Florida Property For Sale

Given the allure of buying a high-end property in Aventura, it’s easy to understand why the inventory of luxury properties for sale is falling.  Contact me, Scott Patterson, today to learn about available listings in Aventura, as well as our other beautiful South Forida communities, such as Hallandale and Golden Beach.

Real Estate Pricing is Key !

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I listed PH4 at the 7000 Building in Williams Island and in less than a week it was under contract for almost full price. If you price it right it will sell ! Whereas another penthouse in the building has been on and off the market since 2004 starting at $3.1 million to now $1.750 million.

When a Listing is on the market for a long period of time, it becomes stale. PH4 pictured below was listed for $1,495,000 and sold for $1,485,000 in less than a week, this was a cash transaction and an International Buyer. The seller was realistic in his asking price and the Buyer recognized its great value and therefore paid almost list price. If a Buyer sees value and you price it right from the start you have a great chance of selling it quicker.  Pricing is an important factor especially in today’s real estate market.

For real estate information on your condo or home, contact me anytime.

The Point of Aventura “Sold Price Per Square Foot”

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The Point of Aventura is a waterfront community comprised of five towers and courtyard homes located in the heart of Aventura Florida along the Intracoastal waterway. Amenities include Intracoastal pool, Club and Spa (cardio and weight room), tennis courts, childrens playground, game room,  restaurant and salon.  Each tower has unique views to offer of the  Atlantic Ocean, Intracoastal and City.

The Point

Highest and Lowest sale per/sq.ft. in the Past 6 Months
– Highest: Atlantic II Unit #2401 sold for $322 sq.ft. on 8-14-2009 for $850,000 (see unit) 21150 Point Place #2401-6244

– Lowest: Atlantic I Unit #704 sold for $197 sq.ft. on 5-26-2009 for $625,000 (see unit)

See all closed sales in the past 6 months

A really great tool for determining the list price for a property is to find out what the current Absorption Rate and Months Supply of Inventory is at the time.  It is beneficial in assisting  Sellers and Buyers to better understand the market and forecast trends.  Absorption rate is the time it takes to sell the current inventory at the present rate of sales, currently the absorption rate for The Point Condos is 3.92 p/month, therefore on average 4 listings are selling every month.

When it comes to Months Supply of Inventory a  supply of 6 to 9 months is optimum and anything over 9 months is generally considered a Buyer’s Market.  Currently there is 13 months supply of inventory at the Point.

For information on active listings or additional information please contact me anytime.

Hamptons South of Aventura Active Listings

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Hampton’s South is one of Aventura’s Luxury condo buildings.  It was built in 2004 and is located along the Intracoastal Waterway overlooking Golden Beach and the Atlantic Ocean.  20201 E Country Club Dr-345Some of the developments amenities include: Intracoastal pool, tennis court pavilion, fitness center, private elevator to each unit and valet service.  Hamptons South is located across from the exclusive Fairmont Turnberry Isle Resort & Club, Golf Course, jogging trail and minutes to the Shops of Aventura Mall.

Currently there are 21 Active Listings, below is the Average Price Per Square Foot for Active Listings based on the bedroom count.

What are you in the Market for?

If you are in the market for a 2 Bedroom: Average Price/Sq.Ft. = $150.00
If you are in the market for a 3 Bedroom: Average Price/Sq.Ft. = $379.00
If you are in the market for a 4 Bedroom: Average Price/Sq.Ft. = $375.00

Check out the newest listing in Hamptons South

20201 E Country Club Dr-26

Quick Facts:
Unit# 2409
3 Bedrooms plus den/media room
3.5 Baths
Over 3,260 sq.ft.
Unobstructed Intracoastal, ocean and golf course views
Highly upgraded

View all 21 Active Listings in Hamptons South

New Listing in Williams Island Villa Marina in Aventura

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New Listing in Williams Island located in Villa Marina (The 7000 Bluilding) with stunning views of the Atlantic Ocean and Intracoastal Waterway feauturing two, three and four bedroom residences.  Williams Island caters to a luxury lifestyle and some of the amenities include Tennis club, spa and health club, restaurants and marina.

Williams Island Villa Marina Unit# 604

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Quick Facts Unit#604: 3 Bedrooms, 3 Baths, over 2,690 sq.ft., 2 parking spaces listed for $699,000 and currently the best priced 3 bedroom/3 bath “04” line unit in the development.

Recent Sales”04″ Line

Unit# 1104 closed for $770,000 or $286 sq.ft. on 4/22/2009
Unit# 2904 is currently pending scheduled to close 6/1/2009

Active Listings “04” Line

Unit# 604 (Featured) List Price: $699,000 or $260 sq.ft.
Unit# 404 List Price: $719,900 or $268 sq.ft.
Unit# 2804 List Price: $855,000 or $318 sq.ft.
Unit# 2704 List Price: $899,000 or $334 sq.ft.
Unit# 2604 List Price: $950,000 or $353 sq.ft.
Unit# 2104 List Price: $1,490,000 $554 sq.ft.
Unit# 3004 List Price: $1,770,000 $658 sq.ft. (includes 300 sq.ft. pool cabana)

For additional information on this or other units in Aventura please contact me at 305.466.3070

Aventura Condo Real Estate Update

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2009 Aventura Florida Condo Re-sales

As the first month of the year comes to a close I thought we would look at the Aventura condo closed re-sales so far this year.  As of right now there have been a total of 35 condo re-sales in Aventura.  Out of these 70% of the condo re-sales have been under $300,000.  Below is a list of the condo re-sales over $300,000 so far this year.

  • Bellamare @ Williams Island condo unit#808 4BR, 4.5BA sold for $1,325,000
  • The Peninsula condo unit #1104 2BR, 2.5BA sold for $720,000
  • One Island Place condo unit #1201 2BR, 3BA sold for $684,000
  • Hidden Bay condo unit #2015 3BR, 2.5BA sold for $490,000
  • The Point North Tower condo unit# 1810 3BR, 2BA sold for $460,000
  • Aventura Marina condo unit #1717 2BR, 2BA sold for $399,900
  • Hamptons West condo unit#2111 2BR, 2BA sold for $395,000
  • Turnberry Village condo unit#601 2BR, 2BA sold for $375,000
  • The Parc Turnberry Isle condo unit#1432 2BR, 3BA sold for $350,000
  • Williams Island 4000 Bldg. condo unit#804 2BR, 2BA sold for $325,000

Search for active condo listings in Aventura

Hidden Bay Condo Aventura Florida Market Update

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There are 3 towers that make up Hidden Bay in Aventura Florida.  There are currently a total of 58 units on the market ranging in price from $179,000 for a 1 bedroom/1 bath to $2,100,000 for a two-story 3 bedroom/3 Bath tower suite.

In the past 90 days there have been 3 closed sales a 2 bedroom/2.5 bath for $420,000 a 3 bedroom/2.5 bath for $420,000 and a 4 bedroom/4.5 bath for $850,000.

Hidden Bay offers a 66-slip private marina, tennis courts, golf course, clubhouse and fitness center and overlooks the ocean and intracoastal waterway and is located in Aventura Bay (Dumfoundling bay).

Hidden Bay is just minutes from my office in Aventura and next to 12-Acre Founders Park and two minutes to Aventura Mall.

See Properties For Sale In Hidden Bay

Please visit Aventura Real Estate for additional information.

Porto-Vita Aventura Florida

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Porto-Vita is an exclusive community located on the Intracoastal waterway and across from The Fairmont Turnberry Isle Resort & Club in Aventura Florida and is considered one of the elite (higher end) developments in South Florida. Porto-Vita offers two condo towers, mid-rise condos, as well as townhomes directly on the Intracoastal waterway. Porto Vita is a Lifestyle with the most ultimate amenities including The Villa Grande Club and a 21 slip private marina. Location is everything, between both infrastructures of Miami-Dade and Fort Lauderdale Florida and minutes from shopping at “The Aventura Mall”, “The Shops of Bal Harbour” and South Beach.

Current Market Data:

Active Condo Listings: 21 (List Price Range from $1,149,000 to $6,000,000)

Active Townhome Listings: 1 (List Price $2,495,000)

There have been 3 closed sales in the past 12 months at Porto-Vita and the highest price was a condo which sold for $3,600,000 in January 2008.