Most of what would later become the City of Aventura was initially developed during the late 1970s and into the 80s as a high-rise residential area by Oxford Development Company, when the area was still mostly swampland known as "Biscayne Gardens".
Aventura is also home to the Aventura Mall, a high-end regional mall which was developed by Ray Parello, Donny Soffer, and Eddie Lewis of Oxford Development and is currently owned by Simon Property Group and Turnberry Associates. The enormous success of the mall encouraged explosive growth in the area and saw the closure of stores at the competing The Mall at 163rd Street, which only recently has been revitalized.
Aventura Real Estate Statistics and Market Snapshot
41 condos and houses sold in April with sales prices that were 85% of asking price. The average sales price was $556,000 and the median price was $340,000 and stayed on the market for 137 days. Call 1-800-639-3520 Ext. 9049 for Free Reports on Aventura (our 24-hour recorded info line).
There are currently 2,078 homes and condos for sale in Aventura. Although sales are down about 30% from the March and down about 35% since last year, pending sales (units in contract) are up significantly. There are 99 pending sales up over 135% from December 2007 (42 pending). Due to some of these being short sales, they are not so predictable. Inventory has been relatively level for over a year now. For customized, detailed reports and research from one of the leading real estate experts in the area, contact us at the toll free number above or call Michael Sahlman directly at 786.553.0697. You can email us at Info@HomesForVIPs.com. These reports show recent sales, available stats and facts and trends reports by zip code, area, city and/or building, and provide clients with an overall snapshot of inventory, closed sales, avg. sales price, sale price compared to list price, days on market and months of inventory.
Transportation
The Aventura Express shuttle bus is a city run public bus service, free to Aventura residents. The Miami-Dade Transit, and Broward County transit bus systems also run through the city. The Miami-Dade Metrorail and Metromover does not, however, serve the city.
The main north-south road in the city is Biscayne Boulevard and the main east-west route is the William H. Lehman Causeway. Although no interstates run through the city, I-95 is just 5 minutes away.
Aventura is between south Florida's two main airports, the Miami International Airport and the Fort Lauderdale-Hollywood International Airport, both 15 minutes away.
Area attractions
Perhaps one of the most famous attractions is the Aventura Mall, a 2.4 million square foot indoor shopping center located in the center of the city. The city also has its own exclusive park, Founders Park, and an outdoor mall named the Shops at Waterways. Although not inside the city limits, some of south Florida's finest beaches are just a few minutes away from Aventura, across the William H. Lehman Causeway.
Education
Aventura is served by the Miami-Dade County Public Schools system.
The Aventura City of Excellence School is the only public school located within the City of Aventura. It is a K-8 charter school that is sponsored by the city. It is an award winning school despite the fact that it was built and opened in 2003. The school was ranked in the top 10 of all schools in Florida in 2006. Children who live in Aventura are given admission preference during the admission lottery held every year. The school has an enrollment cap of 100 students per grade so that the school will never be overcrowded
Other Schools that serve Aventura include:
Virginia A. Boone Highland Oaks Elementary School (Unincorporated Miami-Dade County)
Greynolds Park Elementary School (North Miami Beach)
Ojus Elementary School (Unincorporated Miami-Dade County)
All of Aventura is zoned to Highland Oaks Middle School (Unincorporated Miami-Dade County).
High schools that serve Aventura include:
North Miami Beach High School (North Miami Beach)
Dr. Michael Krop High School (Unincorporated Miami-Dade County)
Investment Oultook
The next several months are going to continue to be very favorable for buyers as interest rates are still relatively low. Sellers are now starting to realize that if they want to sell, they must be more flexible and realistic with their pricing.
Aventura continues to be a very attractive area for investing although it would not be a good idea to look for short-term gains right now. As long as you can hold your property for at least 3-5 years, you should be fine. Waterfront property, especially, will continue to be the best investment. Resort areas like Aventura are always in high demand and will continue to attract baby boomers, snowbirds, investors, celebrities, buyers and foreign buyers. The dollar is very weak in Europe, so look for increased investment from there as well as other foreign countries where there is political unrest and unstable economies (i.e. South America). There are few major cities in the U.S. that have the appeal, and its location is easily accessible from South America and Europe. Property prices are low (in some cases less than half) when compared to other major cities in the U.S. like New York, Washington D.C., Chicago, San Francisco, Los Angeles and San Diego.
For more information, please feel free to email me your requests for more information at Info@HomesForVIPs.com, or call me directly at 786.553.0697. For detailed Reports and Free Recorded information 24-hours a day about the Aventura market, call 1-800-639-3520 Ext. 9049.
Note: Part of the description and history of Aventura was excerpted from Wikipedia.