Ekaterina Bazyka, Miami Realtor Market Update [Condo] FORT Lauderdale 33301 Week of September 5th...

8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] FORT Lauderdale 33301 Week of September 5th 20011

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]

FORT LAUDERDALE,333

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


2/11

Median List Price

21.0

Percent Relisted (reset DOM)

1320

2.0

5 %

Median Number of Bathrooms

210

Inventory of Properties Listed

$ 91

Percent Flip (price increased)

Median House Size (sq ft)

$ 115,995

23 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

7 %

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 271914

1782.0 29

2.0

64

217

2.0 888

177

45

64

34

$ 79,900

80

23

888

2.0

502.0

1000

887

$ 33,998

2.0

267

$ 165,000

2.0$ 489,000

24

70

1350

The Market Action Index has beentrending down recently, but as days-on-market decreases also, there arenot strong signals for the direction ofthe market.

Monday September 5, 2011

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

887

1225

2.0

The median list price in FORTLAUDERDALE, FL this week is

$115,995. The 3550 properties havebeen on the market for an average of210 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+

==

=

FOLAUDERDALE

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

3550

$ 9,750,000

$ 10,890

$ 244,354

26

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

Page 2 of 11

Condos & Townhome


3/11


City OverviewFO

LAUDERDALE


Median PriceDespite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.

90-day Average7-day Average

Quartile PricesPrices in most of the market have stabilized recently. Only Quartile 4 shows any price increases in the last few weeks. Often thiscondition happens in markets where demand has fallen (for example, due to micro-location variables) but supply is stillrelatively short. Buyers are focusing on the lowest price homes in the area.

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

Page 3 of 11

Condos & Townhom


4/11


City OverviewFO

LAUDERDALE


Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


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


Page 4 of 11

Condos & Townhom


5/11


City OverviewFO

LAUDERDALE


Market Action IndexThe FORT LAUDERDALE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 21.05. 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


City OverviewFO

LAUDERDALE


Days on MarketThe properties have been on the market for an average of 210 days. Half of the listings have come newly on the market in thepast 133 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

17.4

Percent Relisted (reset DOM)

1622

2.0

6 %

Median Number of Bathrooms

224

Inventory of Properties Listed

$ 236

Percent Flip (price increased)

Median House Size (sq ft)

$ 359,950

21 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

9 %

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

6 43150

2042.0 7

1.0

3

242

2.0 57

183

2

7

10

$ 289,000

3

0

57

3.5

22.0

1211

57

$ 164,000

2.0

266

$ 499,000

3.0$ 899,000

7

3

1878

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



57

1246

1.0

The median list price in FORTLAUDERDALE, FL 33301 this week is

$359,950. The 228 properties havebeen on the market for an average of224 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+

==

=

FOLAUDERDALE

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

228

$ 3,995,000

$ 89,900

$ 515,191

16

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 DetailFO

LAUDERDALE


Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out ofthat cycle.


Quartile PricesIn the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 3 has beendeclining in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the boardmove from these levels.


Page 8 of 11

Condos & Townhom


9/11



LAUDERDALE


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 relatively steady around these levels in recent weeks.


Page 9 of 11

Condos & Townhom


10/11



LAUDERDALE


Market Action IndexThe FORT LAUDERDALE, 33301 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day MarketAction Index stands at 17.39. With several months of inventory available at the current sales rate, buyers should find amplechoice.

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



LAUDERDALE


Days on MarketThe properties have been on the market for an average of 224 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 11 of 11

Condos & Townhom

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