Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154

8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154

1/11

MARKET UPDATEEkaterina Bazyka's

Current Real Estate Market Conditions for Condos & Townhomes

Trends in Pricing Current Levels of Supply and Demand

Value Metrics

Report for the week ofSeptember 05, 2011

Presented by Ekaterina BazykaLuxury Home Specialisthttp://www.luxmiamirealestate.com - [email protected]

MIAMI BEACH, FL 331

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC


2/11

Median List Price

19.5

Percent Relisted (reset DOM)

1020

2.0

6 %

Median Number of Bathrooms

257

Inventory of Properties Listed

$ 378

Percent Flip (price increased)

Median House Size (sq ft)

$ 355,000

16 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

6 %

Percent of Properties with Price Decrease

Strong Buyer's

+

==

==

==

+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

Bottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

9 171942

2342.0 44

1.0

30

269

1.0 647

219

15

35

47

$ 265,000

42

22

647

3.0

252.0

660

647

$ 135,000

2.0

306

$ 489,000

2.0$ 1,400,000

20

52

1132

Days-on-market has been trending uprecently but the Market Action Indexand inventory levels are basically flatand not providing strong indicationsfor the market.

Monday September 5, 2011

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

646

897

1.0

The median list price in MIAMI BEACH,FL this week is $355,000. The 2587

properties have been on the marketfor an average of 257 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

MIAMI BEACH

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

2587

$ 30,000,000

$ 15,000

$ 767,888

32

Trend Key:

Inventory levels have been relativelyconsistent relative to sales. Despitethe fact that there is a relativelyhigh amount of available inventory,this Buyer's market is still seeingprices move higher. Given inventorylevels, these price conditions arerelatively fragile. If the marketcools off further, the price trend islikely to reverse.

Page 2 of 11

Condos & Townhome


3/11


City OverviewMIAMI BEACH


Median PriceThis week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in generalover the last several weeks.

90-day Average7-day Average

Quartile PricesPrices have been mixed-to-negative trends in recent weeks. Quartile 4 is down, while the rest of the market is basically flat.Look to the Market Action Index to determine if this plateau is the stage for a prolonged price decline.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 3 of 11

Condos & Townhom


4/11




Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.


Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.


Page 4 of 11

Condos & Townhom


5/11




Market Action IndexThe MIAMI BEACH market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 19.53. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

changes.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical functionof the current rate of sale versus current inventory.

Page 5 of 11

Condos & Townhom


6/11




Days on MarketThe properties have been on the market for an average of 257 days. Half of the listings have come newly on the market in thepast 175 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


Page 6 of 11

Condos & Townhom


7/11

Median List Price

17.1

Percent Relisted (reset DOM)

1285

2.0

5 %

Median Number of Bathrooms

266

Inventory of Properties Listed

$ 362

Percent Flip (price increased)

Median House Size (sq ft)

$ 429,900

18 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

6 %

Percent of Properties with Price Decrease

Strong Buyer's

+

==

==

+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

Bottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

10 22430

2752.0 44

1.0

3

296

2.0 90

218

0

5

45

$ 313,000

5

5

90

3.0

52.0

939

90

$ 151,000

2.0

276

$ 595,000

3.0$ 1,750,000

32

3

1306

With inventory and days-on-marketbasically unchanged and the MarketAction Index decreasing, the marketis not sending strong directionalsignal for the near-term outlook.



89

994

2.0

The median list price in MIAMI BEACH,FL 33154 this week is $429,900. The

359 properties have been on themarket for an average of 266 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

MIAMI BEACH33

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

359

$ 10,500,000

$ 16,887

$ 851,685

30

Trend Key:

Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.

Page 7 of 11

Condos & Townhome


8/11


Neighborhood DetailMIAMI BEACH

33


Median PriceDespite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's highpoint, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.


Quartile PricesIn the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 3 is on a bit ofan up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across theboard move from these levels.


Page 8 of 11

Condos & Townhom


9/11



33


Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.


Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.


Page 9 of 11

Condos & Townhom


10/11



33


Market Action IndexThe MIAMI BEACH, 33154 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 17.09. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical functionof the current rate of sale versus current inventory.

age 10 of 11

Condos & Townhom


11/11



33


Days on MarketThe properties have been on the market for an average of 266 days. Half of the listings have come newly on the market in thepast 182 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


Page 11 of 11

Condos & Townhom

Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154

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