Ekaterina Bazyka Market Update [Condo] MIAMI

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

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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,

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


2/241

Median List Price

24.3

Percent Relisted (reset DOM)

1179

2.0

5 %

Median Number of Bathrooms

213

Inventory of Properties Listed

$ 179

Percent Flip (price increased)

Median House Size (sq ft)

$ 210,000

15 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

4 %

Percent of Properties with Price Decrease

Buyer's Advantage

+

+

+

==

==

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

6 371694

1902.0 23

2.0

114

222

2.0 1331

179

68

106

38

$ 149,500

159

54

1331

3.0

592.0

898

1330

$ 62,000

2.0

259

$ 285,000

2.0$ 560,000

6

138

1180

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

Monday September 19, 2011

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

1330

1111

2.0

The median list price in MIAMI, FL thisweek is $210,000. The 5322

properties have been on the marketfor an average of 213 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

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

5322

$ 14,500,000

$ 12,000

$ 329,108

19

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.

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Condos & Townhome


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City OverviewMIAMI


Median PriceThe market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability ofthis trend.

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

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City OverviewMIAMI


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 241

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City OverviewMIAMI


Market Action IndexThe MIAMI market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Indexstands this week at 24.35 so buyers should expect to find reasonable levels of selection.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileThree of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rateof demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than theothers. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on the

premium homes.


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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City OverviewMIAMI


Days on MarketThe properties have been on the market for an average of 213 days. Half of the listings have come newly on the market in thepast 147 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.


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Median List Price

17.6


1316

2.0

3 %


246


$ 288



$ 350,000

19 %

2.0

Market Action Index



3 %


Strong Buyer's

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


14 32146

2082.0 28

1.0

1

239

2.0 49

206

3

0

36

$ 295,000

6

4

49

3.0

12.0

919

49

$ 200,290

2.0

329

$ 425,000

3.0$ 750,000

30

2

1460

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.



49

986

2.0

The median list price in MIAMI, FL33129 this week is $350,000. The 196







No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


196

$ 6,000,000

$ 88,900

$ 573,763

24

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.

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Neighborhood DetailMIAMI, FL 33


Price per Square FootDespite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of themarket being priced at a premium. You can investigate this condition in the quartile details.


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.


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Market Action IndexThe MIAMI, 33129 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 17.55. 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.





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Median List Price

14.7


708

1.0

0 %


169


$ 113



$ 67,500

17 %

1.5

Market Action Index



8 %


Strong Buyer's

==

+

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


4 0984

2241.0 36

2.0

0

161

1.0 3

226

0

0

40

$ 64,000

1

0

3

2.0

01.0

715

3

$ 40,000

1.0

65

$ 87,000

2.0$ 146,900

4

0

510

With inventory trending up but days-on-market and the Market ActionIndex essentially flat recently,conditions do not seem to have strongup or down pull.



3

637

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


12

$ 150,000

$ 25,900

$ 81,475

26

Trend Key:

In a Buyer's market, the relativestasis in inventory and salesconditions has allowed prices to driftlower recently. Expect thatconsistent up trends in demand willbe required before price trendschange significantly.

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Median PriceAgain this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for atrough 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.


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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.




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Median List Price

20.9


1020

2.0

8 %


246


$ 277



$ 281,010

5 %

2.0

Market Action Index



9 %


Strong Buyer's

==

==

==

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


4 01368

2411.5 4

1.0

0

210

1.0 56

252

0

1

34

$ 224,500

4

5

56

2.0

22.0

757

55

$ 139,500

2.0

281

$ 297,000

2.0$ 412,000

4

6

1033

Inventory and days-on-market areboth trending higher recently.However, the improving MarketAction Index implies some increaseddemand will temper the negativetrends.



55

858

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


222

$ 1,350,000

$ 37,000

$ 284,433

10

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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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.




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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.




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Median List Price

22.4


902

2.0

6 %


129


$ 99



$ 79,500

12 %

2.0

Market Action Index



3 %


Strong Buyer's

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


4 02157

842.0 6

1.5

1

109

2.0 8

186

1

2

36

$ 72,000

0

0

8

4.0

22.0

736

8

$ 43,500

2.0

136

$ 90,000

3.0$ 692,000

22

1

848

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.



8

1037

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


32

$ 899,000

$ 33,000

$ 204,609

18

Trend Key:


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Median PriceThis week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand willbe reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.




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Median List Price

30.2


830

2.0

0 %


128


$ 132



$ 119,000

12 %

2.0

Market Action Index



0 %


Seller's Advantage

==

==

==

+

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


3 02198

2062.0 3

2.0

0

100

2.0 4

146

0

0

14

$ 119,000

1

1

5

4.0

01.5

640

4

$ 65,000

1.5

58

$ 162,500

3.0$ 269,500

22

0

812

With inventory trending up but days-on-market and the Market ActionIndex essentially flat recently,conditions do not seem to have strongup or down pull.



4

984

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


17

$ 330,000

$ 39,900

$ 146,071

12

Trend Key:

The market has not shown strongdirectional trends in terms of supplyand demand. However, inventory issufficiently low to keep us in theSeller's Market zone and prices havebeen moving upward as evidence.

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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.




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Market Action IndexThe MIAMI, 33135 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at30.18 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.


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.





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age 31 of 241

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Median List Price

24.7


970

2.0

0 %


172


$ 125



$ 110,000

17 %

2.0

Market Action Index



0 %


Buyer's Advantage

+

+

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


2 02200

1222.0 5

1.0

1

158

2.0 5

108

0

0

6

$ 107,000

0

2

5

3.5

32.0

699

4

$ 65,000

2.5

0

$ 0

3.0$ 377,000

4

1

1265




4

948

2.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


18

$ 384,999

$ 44,000

$ 185,994

15

Trend Key:


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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.




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Price per Square FootWhile prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strengthin a market, larger homes are coming more available and buyers are tending to get more home for their money.




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Market Action IndexThe MIAMI, 33134 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day MarketAction Index stands this week at 24.67 so buyers should expect to find reasonable levels of selection.







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Median List Price

20.0


1590

2.0

3 %


236


$ 301



$ 459,000

18 %

2.0

Market Action Index



4 %


Strong Buyer's

+

+

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


10 22607

2672.0 9

1.0

3

238

2.0 31

164

1

1

29

$ 389,000

6

3

32

4.0

23.0

622

31

$ 105,000

2.0

278

$ 580,000

3.0$ 1,300,000

15

5

1882

The Market Action Index has beenclimbing lately while days-on-marketare trending down, these point to apositive near-term outlook for themarket.



31

1200

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


125

$ 14,500,000

$ 12,900

$ 731,657

19

Trend Key:


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Median PriceAgain this week in this zip code we see a downward notch for prices. We continue to pull back from the market's highs. At thispoint, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.




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Price per Square FootDespite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of themarket being priced at a premium. You can investigate this condition in the quartile details.




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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.





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age 41 of 241

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Median List Price

17.6


1207

2.0

9 %


249


$ 325



$ 375,112

17 %

2.0

Market Action Index



8 %


Strong Buyer's

==

+

+

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


3 11789

2552.0 4

1.0

6

234

1.0 95

213

5

2

4

$ 299,999

9

4

95

3.0

22.0

800

95

$ 189,000

2.0

293

$ 440,000

2.0$ 749,000

4

6

1315

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



95

1084

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


380

$ 4,400,000

$ 49,000

$ 473,959

7

Trend Key:


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Median PriceIn the last few weeks we've seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in theMarket Action Index before we see prices deviate from these levels.




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Median List Price

20.7


1190

2.0

5 %


232


$ 394



$ 409,500

12 %

2.0

Market Action Index



4 %


Strong Buyer's

+

+

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


6 71931

2452.0 4

1.0

8

220

1.0 174

207

5

6

5

$ 350,000

20

10

175

3.0

72.0

808

174

$ 237,000

2.0

255

$ 499,000

2.0$ 1,139,500

4

13

1306

The Market Action Index has beenclimbing lately while days-on-marketare trending down, these point to apositive near-term outlook for themarket.



174

1000

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


697

$ 8,530,000

$ 15,000

$ 643,610

8

Trend Key:


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Median PriceRecently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in theMarket Action Index before we see prices significantly move from these levels.




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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.




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age 51 of 241

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Median List Price

18.4


1083

2.0

7 %


168


$ 307



$ 325,000

13 %

2.0

Market Action Index



2 %


Strong Buyer's

==

==

+

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


1 01359

1562.0 3

1.0

5

145

2.0 67

235

1

4

6

$ 265,000

8

0

68

2.0

22.0

776

67

$ 146,750

2.0

133

$ 399,000

2.0$ 527,500

1

7

1119

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



67

1040

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


269

$ 950,000

$ 14,900

$ 337,477

5

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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Median PriceWhile this week the median price in this zip code didn't fluctuate much, we continue to sit at all time high prices. Watch forpersistent downward shift in the Market Action Index into the Buyer's zone as a leading indicator of the price strength subsiding.




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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.


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age 56 of 241

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Median List Price

19.0


1312

2.0

4 %


189


$ 136



$ 186,500

15 %

2.0

Market Action Index



5 %


Strong Buyer's

+

==

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


29 11913

1092.0 30

2.0

2

206

2.0 28

209

1

2

43

$ 149,900

3

0

28

3.0

02.0

878

27

$ 95,000

2.0

234

$ 220,000

2.0$ 398,985

29

5

1312




27

1312

1.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


110

$ 1,450,000

$ 32,000

$ 248,168

32

Trend Key:


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Median PriceThis week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand willbe reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.




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Median List Price

33.5


1000

2.0

3 %


184


$ 79



$ 87,000

10 %

2.0

Market Action Index



1 %


Seller's Advantage

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


20 21400

1462.0 24

2.0

4

187

2.0 30

191

5

2

25

$ 70,000

8

1

30

2.0

22.0

848

29

$ 54,450

2.0

213

$ 105,000

3.0$ 164,900

25

2

1120

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.



29

946

1.5








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


118

$ 270,000

$ 38,000

$ 100,876

23

Trend Key:

In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone so watch changes in the MAI. Ifthe market heats up, prices arelikely to resume an upward climb.

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Median PriceRecently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in theMarket Action Index before we see prices significantly move from these levels.




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Price per Square FootWhile prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strengthin a market, larger homes are coming more available and buyers are tending to get more home for their money.




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Market Action IndexThe MIAMI, 33193 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at33.48 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.


Market Action Index per QuartileThe lower end of this zip code are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. The high-end of the market is showing demand strength in the Seller's Market zone, while Quartiles 3 and 4 have aMarket Action Index below 30 (Buyer's Market).





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Median List Price

24.3


1770

3.0

6 %


198


$ 104



$ 182,450

17 %

3.0

Market Action Index



0 %


Buyer's Advantage

==

+

+

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


7 01839

1823.0 8

3.0

1

276

3.0 5

148

0

0

7

$ 180,000

0

0

5

3.0

03.0

1678

4

$ 160,000

3.5

201

$ 192,500

3.0$ 250,000

7

0

1934

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.



4

1770

3.0








No change



==

=

MIAMI, FL 33

Neighborhood Detail


Average List Price


18

$ 279,900

$ 145,000

$ 195,483

7

Trend Key:


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Median PriceWe continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week.Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.




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Market Action IndexThe MIAMI, 33194 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day MarketAction Index stands this week at 24.34 so buyers should expect to find reasonable levels of selection.







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Neighbor

Documents

Ekaterina Bazyka Market Update [Condo] MIAMI