Ekaterina Bazyka Market Update [Condo] MIAMI BEACH

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

1/31

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,

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


2/31

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 31

Condos & Townhome


3/31


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 31

Condos & Townhom


4/31




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 31

Condos & Townhom


5/31




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 31

Condos & Townhom


6/31




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 31

Condos & Townhom


7/31

Median List Price

18.7


850

2.0

6 %


238


$ 438



$ 350,000

17 %

1.0

Market Action Index



6 %


Strong Buyer's

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


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.






No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


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 31

Condos & Townhome


8/31


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 31

Condos & Townhom


9/31



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 31

Condos & Townhom


10/31



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.


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.





age 10 of 31

Condos & Townhom


11/31



33






Page 11 of 31

Condos & Townhom


12/31

Median List Price

16.8


1031

2.0

5 %


240


$ 343



$ 359,000

20 %

2.0

Market Action Index



3 %


Strong Buyer's

+

==

==

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


6 41621

2312.0 44

1.0

9

240

2.0 141

223

7

4

45

$ 295,000

15

7

142

3.0

52.0

556

141

$ 140,000

2.0

265

$ 450,000

2.0$ 950,000

37

13

1120

Even though the days-on-market istrending higher, so is the MarketAction Index at these inventorylevels, providing a neutral outlook forthe market.



141

987

1.0








No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


565

$ 11,750,000

$ 25,000

$ 572,555

32

Trend Key:


age 12 of 31

Condos & Townhome


13/31



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.




age 13 of 31

Condos & Townhom


14/31



33






age 14 of 31

Condos & Townhom


15/31



33









age 15 of 31

Condos & Townhom


16/31



33






age 16 of 31

Condos & Townhom


17/31

Median List Price

18.4


1300

2.0

5 %


269


$ 362



$ 439,000

17 %

2.0

Market Action Index



6 %


Strong Buyer's

+

==

+

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


10 42492

2942.0 46

1.0

5

300

2.0 87

210

5

5

45

$ 319,000

7

5

87

3.0

72.0

939

87

$ 150,000

2.0

273

$ 595,000

3.0$ 1,835,000

34

3

1404

Even though the days-on-market istrending higher, so is the MarketAction Index at these inventorylevels, providing a neutral outlook forthe market.



86

1008

2.0








No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


347

$ 10,500,000

$ 16,887

$ 869,584

32

Trend Key:


age 17 of 31

Condos & Townhome


18/31



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.




age 18 of 31

Condos & Townhom


19/31



33


Price per Square FootIn a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that newhomes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.




age 19 of 31

Condos & Townhom


20/31



33









age 20 of 31

Condos & Townhom


21/31



33






age 21 of 31

Condos & Townhom


22/31

Median List Price

25.3


1061

2.0

6 %


211


$ 222



$ 225,000

15 %

2.0

Market Action Index



5 %


Buyer's Advantage

+

==

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


6 11482

1922.0 43

1.0

10

192

2.0 116

206

10

7

52

$ 166,000

11

6

116

2.0

82.0

680

116

$ 89,945

2.0

255

$ 325,000

2.0$ 649,000

6

12

1251

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



115

1010

1.0








No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


463

$ 7,700,000

$ 15,000

$ 391,580

30

Trend Key:


age 22 of 31

Condos & Townhome


23/31



33


Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend in general over the last several weeks.




age 23 of 31

Condos & Townhom


24/31



33






age 24 of 31

Condos & Townhom


25/31



33


Market Action IndexThe MIAMI BEACH, 33141 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-dayMarket Action Index stands this week at 25.32 so buyers should expect to find reasonable levels of selection.


Market Action Index per QuartileThree of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the currentlevels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyersseem to be placing emphasis on the premium homes.





age 25 of 31

Condos & Townhom


26/31



33






age 26 of 31

Condos & Townhom


27/31

Median List Price

9.2


2530

3.0

6 %


421


$ 869



$ 2,100,000

9 %

3.0

Market Action Index



10 %


Strong Buyer's

==

+

==

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


19 25100

3763.0 23

2.0

0

452

3.0 27

407

0

2

23

$ 1,399,000

1

0

28

5.0

04.0

844

27

$ 567,500

3.0

452

$ 2,800,000

4.0$ 6,500,000

22

0

2740

Inventory and days-on-market areclimbing, while the Market ActionIndex has been flat recently. Thetrends point to a weakening market.



27

1950

1.0

The median list price in MIAMI BEACH,FL 33109 - Fisher Island this week is

$2,100,000. The 109 properties havebeen on the market for an average of421 days.






No change



==

=

MIAMI BEACH33109 - Fish

Neighborhood Detail


Average List Price


109

$ 30,000,000

$ 81,500

$ 3,077,311

21

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.

age 27 of 31

Condos & Townhome


28/31



33109 - Fish


Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.




age 28 of 31

Condos & Townhom


29/31



33109 - Fish


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 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.


age 29 of 31

Condos & Townhom


30/31



33109 - Fish









age 30 of 31

Condos & Townhom


31/31



33109 - Fish





Condos & Townhom

Ekaterina Bazyka Market Update [Condo] MIAMI BEACH

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