ekaterina bazyka market update [condo] miami beach 33154

8/4/2019 Ekaterina Bazyka Market Update [Condo] MIAMI 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 12, 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)

1030

2.0

6 %

Median Number of Bathrooms

247

Inventory of Properties Listed

$ 380

Percent Flip (price increased)

Median House Size (sq ft)

$ 360,000

16 %

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)

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 131960

2252.0 43

1.0

25

263

1.0 639

205

19

36

47

$ 265,900

26

22

639

3.0

282.0

662

639

$ 138,000

2.0

296

$ 495,000

2.0$ 1,425,000

20

47

1150

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

Monday September 12, 2011

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

638

900

1.0

The median list price in MIAMI BEACH,FL this week is $360,000. The 2555

properties have been on the marketfor an average of 247 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

2555

$ 30,000,000

$ 15,000

$ 780,466

32

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 OverviewMIAMI BEACH


Median PriceDespite this week's up 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 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 value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently.These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.


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 19.61. 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 247 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

17.6

Percent Relisted (reset DOM)

1300

2.0

6 %

Median Number of Bathrooms

270

Inventory of Properties Listed

$ 368

Percent Flip (price increased)

Median House Size (sq ft)

$ 449,000

17 %

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 22392

3072.0 45

1.0

4

302

2.0 86

202

5

12

45

$ 321,500

2

0

86

3.0

52.0

956

86

$ 151,000

2.0

271

$ 595,000

3.0$ 1,772,500

34

7

1388

Inventory has been lightening latelyand the Market Action Index has beentrending up. These are mildly positiveindications for the market.



86

998

2.0

The median list price in MIAMI BEACH,FL 33154 this week is $449,000. The

344 properties have been on themarket for an average of 270 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

344

$ 10,500,000

$ 16,887

$ 866,283

31

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 7 of 11

Condos & Townhome


8/11


Neighborhood DetailMIAMI BEACH

33


Median PriceThe market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch theMarket Action Index to predict how long this trend will last.


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 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 falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


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 17.64. 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 270 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 market update [condo] miami beach 33154

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