ekaterina bazyka, miami realtor market update [condo] miami south beach, 33154
TRANSCRIPT
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH 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 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
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
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Median List Price
19.5
Percent Relisted (reset DOM)
1020
2.0
6 %
Median Number of Bathrooms
257
Inventory of Properties Listed
$ 378
Percent Flip (price increased)
Median House Size (sq ft)
$ 355,000
16 %
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
9 171942
2342.0 44
1.0
30
269
1.0 647
219
15
35
47
$ 265,000
42
22
647
3.0
252.0
660
647
$ 135,000
2.0
306
$ 489,000
2.0$ 1,400,000
20
52
1132
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
646
897
1.0
The median list price in MIAMI BEACH,FL this week is $355,000. The 2587
properties have been on the marketfor an average of 257 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+
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MIAMI BEACH
City Overview
Least Expensive Listing
Average List Price
Average Age of Listing
2587
$ 30,000,000
$ 15,000
$ 767,888
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.
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Condos & Townhome
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
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Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
City OverviewMIAMI BEACH
Monday September 5, 2011
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 been mixed-to-negative trends in recent weeks. Quartile 4 is down, while the rest of the market is basically flat.Look to the Market Action Index to determine if this plateau is the stage for a prolonged price decline.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Condos & Townhom
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
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Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
City OverviewMIAMI BEACH
Monday September 5, 2011
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.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.
90-day Average7-day Average
Page 4 of 11
Condos & Townhom
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
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Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
City OverviewMIAMI BEACH
Monday September 5, 2011
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 19.53. 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.
First/Top Second/Upper Third/Lower Fourth/Bottom
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.
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Condos & Townhom
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Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
City OverviewMIAMI BEACH
Monday September 5, 2011
Days on MarketThe properties have been on the market for an average of 257 days. Half of the listings have come newly on the market in thepast 175 or so days.
90-day Average7-day Average
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Condos & Townhom
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Median List Price
17.1
Percent Relisted (reset DOM)
1285
2.0
5 %
Median Number of Bathrooms
266
Inventory of Properties Listed
$ 362
Percent Flip (price increased)
Median House Size (sq ft)
$ 429,900
18 %
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 22430
2752.0 44
1.0
3
296
2.0 90
218
0
5
45
$ 313,000
5
5
90
3.0
52.0
939
90
$ 151,000
2.0
276
$ 595,000
3.0$ 1,750,000
32
3
1306
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 5, 2011
Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
89
994
2.0
The median list price in MIAMI BEACH,FL 33154 this week is $429,900. The
359 properties have been on themarket for an average of 266 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+
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MIAMI BEACH33
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
359
$ 10,500,000
$ 16,887
$ 851,685
30
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.
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Condos & Townhome
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
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Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
Neighborhood DetailMIAMI BEACH
33
Monday September 5, 2011
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.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 3 is on a bit ofan up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across theboard move from these levels.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Condos & Townhom
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
9/11
Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
Neighborhood DetailMIAMI BEACH
33
Monday September 5, 2011
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.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.
90-day Average7-day Average
Page 9 of 11
Condos & Townhom
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
10/11
Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
Neighborhood DetailMIAMI BEACH
33
Monday September 5, 2011
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 17.09. 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.
First/Top Second/Upper Third/Lower Fourth/Bottom
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
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8/4/2019 Ekaterina Bazyka, Miami Realtor Market Update [Condo] MIAMI SOUTH BEACH, 33154
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Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
Neighborhood DetailMIAMI BEACH
33
Monday September 5, 2011
Days on MarketThe properties have been on the market for an average of 266 days. Half of the listings have come newly on the market in thepast 182 or so days.
90-day Average7-day Average
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Condos & Townhom