Ekaterina Bazyka Market Update [Condo] MIAMI BEACH 33139

8/4/2019 Ekaterina Bazyka Market Update [Condo] MIAMI BEACH 33139

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 19, 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

19.6

Percent Relisted (reset DOM)

1020

2.0

6 %

Median Number of Bathrooms

246

Inventory of Properties Listed

$ 377

Percent Flip (price increased)

Median House Size (sq ft)

$ 358,000

17 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

5 %

Percent of Properties with Price Decrease

Strong Buyer's

+

==

==

+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/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 221950

2212.0 44

1.0

45

265

1.0 648

204

28

31

47

$ 265,000

65

25

649

3.0

222.0

665

648

$ 135,999

2.0

292

$ 495,000

2.0$ 1,405,000

20

49

1128

The Market Action Index has beenbasically flat recently, and days-on-market decreasing, there are notstrong signals for the direction of themarket.

Monday September 19, 2011

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

648

897

1.0

The median list price in MIAMI BEACH,FL this week is $358,000. The 2593

properties have been on the marketfor an average of 246 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

2593

$ 30,000,000

$ 15,000

$ 770,773

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 settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

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 19.63. 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 246 days. Half of the listings have come newly on the market in thepast 161 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

18.7

Percent Relisted (reset DOM)

850

2.0

6 %

Median Number of Bathrooms

238

Inventory of Properties Listed

$ 438

Percent Flip (price increased)

Median House Size (sq ft)

$ 350,000

17 %

1.0

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)

ottom/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

8 71729

2271.0 46

1.0

18

245

1.0 277

199

7

13

51

$ 260,000

29

11

278

3.0

102.0

582

277

$ 151,500

2.0

281

$ 499,000

2.0$ 1,499,000

14

17

1072

With inventory trending up but days-on-market trending down and theMarket Action Index essentially flatrecently, conditions do not seem tohave strong up or down pull.



277

725

1.0

The median list price in MIAMI BEACH,FL 33139 this week is $350,000. The

1109 properties have been on themarket for an average of 238 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

1109

$ 19,000,000

$ 19,900

$ 772,451

35

Trend Key:

The market has settled in at arelative stasis in inventory and salesconditions. It's a Buyer's market thathas seen prices trend lower. Expectthat consistent up trends in demandwill be required before price trendschange significantly.

Page 7 of 11

Condos & Townhome


8/11


Neighborhood DetailMIAMI BEACH

33


Median PriceAgain this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus theirabsolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leadingindicator for a trough in prices.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


Page 8 of 11

Condos & Townhom


9/11



33


Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.


Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.


Page 9 of 11

Condos & Townhom


10/11



33


Market Action IndexThe MIAMI BEACH, 33139 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 18.73. 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 238 days. Half of the listings have come newly on the market in thepast 154 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

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