miami beach-homes- 33140 market update sept 5th 2011

8/4/2019 MIAMI BEACH-Homes- 33140 Market update Sept 5th 2011

1/11

MARKET UPDATEEkaterina Bazyka's

Current Real Estate Market Conditions for Single Family Homes

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

Median Lot Size

14.9

Percent Relisted (reset DOM)

3232

4.0

6 %

Median Number of Bathrooms

271

Inventory of Properties Listed

$ 469

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 1,425,000

19 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

5 %

Percent of Properties with Price Decrease

Strong Buyer's

+

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==

==

+

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

56 27192

2584.0 65

3.0

4

292

4.0 99

219

4

3

0.50 - 1.0acre

62

$ 995,000

4

2

99

7.0

8,001 -10,000 sqft

25.0

19616,501 -

8,000 sqft

99

$ 519,000

5.0

315

0.25 - 0.50acre$ 2,000,000

6.0$ 7,495,000

61

6

3909

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

98

2704

2.0

The median list price in MIAMI BEACH,FL this week is $1,425,000. The 395

properties have been on the marketfor an average of 271 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

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

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

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=

MIAMI BEACH

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

395

$ 34,500,000

$ 130,000

$ 3,155,130

57

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 2 of 11

Single Family Home


3/11


City OverviewMIAMI BEACH


Median PricePrices continue their climb again this week. We're a long way from the market's price high-point so watch the Market ActionIndex as an indicator of how long this trend will last.

90-day Average7-day Average

Quartile PricesNot surprisingly, given the condition of the overall market, all quartiles have shown price strength in recent weeks. All havebeen increasing in price lately.

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

Page 3 of 11

Single Family Hom


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

Single Family Hom


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 14.86. 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

Single Family Hom


6/11




Days on MarketThe properties have been on the market for an average of 271 days. Half of the listings have come newly on the market in thepast 210 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

Single Family Hom


7/11

Median List Price

Median Lot Size

14.4

Percent Relisted (reset DOM)

3498

4.0

5 %

Median Number of Bathrooms

262

Inventory of Properties Listed

$ 416

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 1,350,000

18 %

4.0

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

62 17996

2644.0 74

3.0

1

236

4.0 38

242

4

2

0.50 - 1.0acre

70

$ 999,748

1

1

39

9.0

6,501 -8,000 sqft

05.0

23676,501 -

8,000 sqft

38

$ 639,000

5.0

305

0.25 - 0.50acre$ 1,772,500

7.0$ 8,550,000

72

1

4114

The Market Action Index has beentrending down lately, while inventoryand days-on-market are climbing. Thetrends imply a weakening market.



38

2792

3.0

The median list price in MIAMI BEACH,FL 33140 this week is $1,350,000. The

153 properties have been on themarket for an average of 262 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size 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

153

$ 34,500,000

$ 299,000

$ 3,301,434

64

Trend Key:

Home sales have been exceedingnew inventory for several weeks.Since this is a Buyer's market pricesare not yet moving higher as excessinventory is consumed. However, asthe supply and demand trendscontinue, the market moves into theSeller's zone, and we are likely tosee upward pressure on pricing.

Page 7 of 11

Single Family Home


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 most of the quartile market segments, we see prices in this zip code have stabilized recently. Only Quartile 4 shows any priceincreases in the last few weeks. Often this condition happens in markets where demand has fallen (for example, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.


Page 8 of 11

Single Family Hom


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 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

Single Family Hom


10/11



33


Market Action IndexThe MIAMI BEACH, 33140 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 14.43. 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

Single Family Hom


11/11



33

Monday September 5 2011

Days on MarketThe properties have been on the market for an average of 262 days. Half of the listings have come newly on the market in thepast 203 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

Single Family Hom

miami beach-homes- 33140 market update sept 5th 2011

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