Aventura Real Estate Economic Indicators That Matter to Home Buyers
For real estate, the median home value in this urban center is $1,423,900, home appreciation is set at 2.11% over the last year, and the median age of real estate in this city is 19 years. It is estimated that renters make up 20.08% of the total population, while 30.06% of houses and apartments in this city continue to remain unoccupied (vacancy rate).The city of Aventura has a total of 3.2 square miles in area, and is ideally located on the intracoastal Waterway in northeast Miami-Dade County.
The urban enclave is conveniently located between Fort Lauderdale International & Miami International airports and two of the largest seaports in the world. The city is also strategically located close to two of the hottest night life destinations in south Florida, Las Olas & South Beach. The city is also an upscale condo community, and offers some of South Florida''s best-known condo developments.
The Condo Market Is Excellent Here
At present, many waterfront condominium communities and developments in this city offer marina services for the convenience of their residents, as are an abundance of full service marinas. Boating enthusiasts are flocking to this urban center and many have chosen to purchase waterfront condos that have suitable marina services. For those who buy condo units here that do not offer these nautical amenities, their boats can easily be stored and can be made accessible to any of the city''s numerous marinas.
Important Economic Indicators
Currently, the unemployment rate in this city stands at 2.70%, and job growth is also pegged at 2.92%. Analysts say that future job growth over the next ten years is predicted to be 27.66%. The income per capita here is placed at $45,178, which includes all adults and children, and the city''s median household income is $49,036.
For real estate, the median home value in this urban center is $1,423,900, home appreciation is set at 2.11% over the last year, and the median age of real estate in this city is 19 years. It is estimated that renters make up 20.08% of the total population, while 30.06% of houses and apartments in this city continue to remain unoccupied (vacancy rate).
The Housing Market Here Sees Positive Trends For 2008
According to state real estate market analysts, on a positive note, nearly all other markets, including apartments and commercial rental markets in the Miami-Dade County appear to be remaining steady or even experiencing robust growth. The markets here, although quite in a downslope currently, did not experience a downturn in the same sense that the single family development market did and they continue to be strong.
The optimism about the real estate market in this area seems to be particularly visible among foreign investors, and many respondents have noted that foreign investors and lenders are aggressively trying to infuse additional capital in the state''s rental markets, and have lesser fears about the future of these markets, despite the area having problems with hurricanes, taxes and other concerns.
Aventura, despite the glitches in the housing markets today, continues to offer all kinds of entertainment, shopping, and arts and culture possibilities to its visitors. The Aventura Mall offers wonderful shopping choices, upscale boutiques, theaters and a host of fine dining establishments and entertainment venues to choose from. Whether you go to Waterway''s Shops or Loehman''s Plaza, this city has basically something for everybody. Recently, the city completed an expansive waterfront recreation/community center that offers facilities like a gymnasium, basketball court, computer laboratory facilities and conference rooms.
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