Aventura Isles – Modern Community of Homes and Townhomes in Miami, FL

As you know, the coronavirus pandemic has changed the preferences of homeowners. Many people now prefer to live in townhouses or single-family houses, and try to avoid living in high-rise buildings. In your own home, you have more personal space and a great opportunity to avoid large groups of people. In addition, out-of-state migration to Florida and low interest rates have created additional demand for homes and townhouses.

Today we will tell you about Aventura Isles – one of the highly popular complexes of single-family homes and townhouses in Miami, and how high consumer demand has influenced local pricing and inventory.

The location of the community is very convenient – it is just 15 minutes from the ocean, Aventura and Sunny Isles Beach. In addition, it is equidistant from the cities of Miami and Fort Lauderdale. If you work in these cities, the journey will take approximately 30 minutes. Major airports such as Miami International and Fort Lauderdale Hollywood International are approximately 25 minutes’ drive from Aventura Isles.

Single-family houses come in 3 series and each of them has 4 different models:

The Island series are entry-level houses. All of them are located within the community with a backyard view bordering the neighbor’s. The smaller models Amelia and Bermuda have 3 bedrooms, while the Captiva and Sanibel models have 4 bedrooms. All models in this series include 2 full and one half bathrooms (powder room), as well as a garage for 1 car.

The Caribbean series are mid-range homes, overlooking the interior of the community or a small lake like the Island. Smaller models of this type are Antigua and Barbados, with 3 bedrooms, 2.5 bathrooms and a garage for 1 car. The Cayman and San Lucas are larger homes with 1 extra bedroom and 1 extra garage space.

The Jewel series are more spacious premium homes. Most of them are houses on the border of the village, with no neighbors outside the backyard fence. Many houses offer beautiful views of the canal or lake. Diamond is the most premium model with 5 bedrooms and 4 full bathrooms. All other models in this series have 4 bedrooms and 2.5 bathrooms.

Let’s deal with inventory using a weekly chart. First, as an example, to understand how the diagram works, let’s look at townhouses.

How do I read a diagram? For example, during the week ending May 9, 7 townhouses were put up for sale: 2 Azalea models, 1 Jasmine, 1 Hibiscus and 3 Orchid models. At the same time, 2 townhouses were in the process of completing the transaction, and 1 townhouse was sold during this week.

We can track these individual sales and get the names of old and new owners from public records and try to find a connection. But even without analysis, we can conclude that June and July were the best months to sell a townhouse. But at the same time, March and April were the best months to sell a single-family home. If you are a buyer, then the best time to buy a home was in May and June, and if you wanted to buy a townhouse in Aventura Isles, you had to get it done before May.

We would like to note that despite the fact that 6-8 townhouses were put on the market in April, which was a higher level of inventory compared to June and July, it is still a very low level compared to historical norms.

The lower part of the graph represents the volume of transactions under the contract and sales. In just 2 weeks of July, 6 transactions for the sale of townhouses were closed, but in June there was not a single transaction for the sale of houses.

Now let’s look at the prices

The purple line represents the average price of the objects put up for sale, and the red dots represent the average prices of the objects sold. Unsurprisingly, due to low inventory, the average price for a townhouse rose from $ 377,000 in March to $ 454,000 at the end of July. As for the houses, the average price for them increased from $ 545,000 to $ 723,000.

It is unclear if the situation will change in the coming months. On the one hand, we have lowered interest rates slightly, and the pandemic has begun to have less impact on people’s preferences. On the other hand, people continue to move from high-rise buildings to townhouses and single-family houses.

The inventory level is constantly fluctuating, so buying or selling a couple of weeks later or earlier will allow you to choose the most suitable option, as well as save tens of thousands of dollars.