Ekaterina Bazyka Market Update (Condo) MIAMI BEACH

Ekaterina Bazyka's MARKET UPDATE
MIAMI BEACH, FL
Current Real Estate Market Conditions for Condos & Townhomes Trends in Pricing Current Levels of Supply and Demand Value Metrics
Report for the week of

September 12, 2011
Presented by Ekaterina Bazyka Luxury Home Specialist http://www.luxmiamirealestate.com - ekaterina.bazyka@gmail.com 954.224.0311
Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC
City Overview
Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311
Condos & Townhomes in
MIAMI BEACH, FL
This Week
The median list price in MIAMI BEACH, FL this week is $360,000. The 2555 properties have been on the market for an average of 247 days.
Median List Price Average List Price
Real-Time Market Profile

$ 360,000 $ 780,466 $ 380 247 2555 $ 30,000,000 $ 15,000 32 16 % 5% 6% 1030 2.0 2.0
Trend
+ == + +
Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing
With inventory and days-on-market basically unchanged and the Market Action Index decreasing, the market is not sending strong directional signal for the near-term outlook.
Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Number of Bedrooms Median Number of Bathrooms
Supply and Demand

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Altos Research Value Statistics

Market Action Index Strong Buyer's 19.6 The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
No change
== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend
Characteristics per Quartile

Quartile Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Beds Baths Age Inventory New Absorbed DOM
$ 1,425,000 $ 495,000 $ 265,900 $ 138,000
1960 1150 900 662
2.0 2.0 1.0 1.0
3.0 2.0 2.0 1.0
9 20 43 47
638 639 639 639
22 19 25 26
13 28 36 47
296 263 225 205
Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties
Page 2 of 31
Monday September 12, 2011
City Overview
MIAMI BEACH, FL
Median Price
Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
7-day Average
90-day Average
Quartile Prices
Prices 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
City Overview
MIAMI BEACH, FL
Price per Square Foot

The 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.
7-day Average
90-day Average
Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.
7-day Average
90-day Average
Page 4 of 31
City Overview
MIAMI BEACH, FL
Market Action Index

The MIAMI BEACH market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 19.61. With several months of inventory available at the current sales rate, buyers should find ample choice.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile

Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. 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
Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantage 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 function of the current rate of sale versus current inventory.
Page 5 of 31
City Overview
MIAMI BEACH, FL
Days on Market
The properties have been on the market for an average of 247 days. Half of the listings have come newly on the market in the past 161 or so days.
7-day Average
90-day Average
Days on Market per Quartile

It 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
Page 6 of 31
Neighborhood Detail
MIAMI BEACH, FL 33139

Real-Time Market Profile Trend
$ 360,000 $ 777,331 $ 441 238 1091 $ 19,000,000 $ 19,900 34 16 % 6% 7% 850 1.0 2.0 + +
This Week
The median list price in MIAMI BEACH, FL 33139 this week is $360,000. The 1091 properties have been on the market for an average of 238 days.
The Market Action Index has been climbing lately while days-on-market are trending down, these point to a positive near-term outlook for the market.
Supply and Demand

The market has settled in at a relative stasis in inventory and sales conditions. It's a Buyer's market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.

Market Action Index Strong Buyer's 19.0 == The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
No change

$ 1,497,000 $ 524,900 $ 265,000 $ 157,500
1740 1078 730 581
2.0 2.0 1.0 1.0
3.0 2.0 1.0 1.0
8 14 45 49
272 273 273 273
9 7 8 18
4 16 13 25
287 241 220 207
Page 7 of 31
Neighborhood Detail
Median Price
This week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. Keep an eye on the Market Action Index for a leading indicator of the duration of this downtrend.
7-day Average
90-day Average
Quartile Prices
In the quartile market segments, we see prices in this zip code 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 8 of 31
Neighborhood Detail

Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
7-day Average
90-day Average

7-day Average
90-day Average
Page 9 of 31
Neighborhood Detail
Market Action Index

The MIAMI BEACH, 33139 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 18.96. With several months of inventory available at the current sales rate, buyers should find ample choice.
90-day Average

Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 10 of 31
Neighborhood Detail
Days on Market
7-day Average
90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 11 of 31
Neighborhood Detail

$ 365,000 $ 576,928 $ 342 239 554 $ 11,750,000 $ 25,000 32 18 % 3% 5% 1040 2.0 2.0 + == + +
This Week
The Market Action index has been trending down lately, while days-onmarket is climbing, providing mostly bearish signs for the market.
Supply and Demand


Trend Key:
No change

$ 950,000 $ 450,000 $ 295,000 $ 140,000
1633 1146 1009 570
2.0 2.0 2.0 1.0
3.0 2.0 2.0 1.0
6 38 44 45
138 138 139 139
5 6 6 2
3 4 4 6
262 245 231 220
Page 12 of 31
Neighborhood Detail
Median Price
We 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.
7-day Average
90-day Average
Quartile Prices
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 13 of 31
Neighborhood Detail

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
7-day Average
90-day Average

7-day Average
90-day Average
Page 14 of 31
Neighborhood Detail
Market Action Index

90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 15 of 31
Neighborhood Detail
Days on Market
7-day Average
90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 16 of 31
Neighborhood Detail

$ 449,000 $ 866,283 $ 368 270 344 $ 10,500,000 $ 16,887 31 17 % 6% 6% 1300 2.0 2.0 == + ==
This Week
Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market.
Supply and Demand

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer's market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Market Action Index Strong Buyer's 17.6 == The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
No change

$ 1,772,500 $ 595,000 $ 321,500 $ 151,000
2392 1388 998 956
3.0 2.0 2.0 1.0
3.0 2.0 2.0 2.0
10 34 45 45
86 86 86 86
0 5 4 2
2 5 12 7
271 302 307 202
Page 17 of 31
Neighborhood Detail
Median Price
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
7-day Average
90-day Average
Quartile Prices
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 18 of 31
Neighborhood Detail

The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.
7-day Average
90-day Average

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
7-day Average
90-day Average
Page 19 of 31
Neighborhood Detail
Market Action Index

90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 20 of 31
Neighborhood Detail
Days on Market
7-day Average
90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 21 of 31
Neighborhood Detail

$ 225,000 $ 386,658 $ 218 215 454 $ 7,700,000 $ 15,000 30 14 % 6% 7% 1060 2.0 2.0 == ==
This Week
Inventory is tightening and days-onmarket is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.
Supply and Demand

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer's market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Market Action Index Buyer's Advantage 25.3 The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
No change

$ 649,000 $ 320,000 $ 165,000 $ 88,950
1440 1279 1002 676
2.0 2.0 2.0 1.0
2.0 2.0 2.0 1.0
6 7 43 52
113 113 114 114
0 8 3 3
1 6 5 9
247 218 194 200
Page 22 of 31
Neighborhood Detail
Median Price
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
7-day Average
90-day Average
Quartile Prices
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 23 of 31
Neighborhood Detail

The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.
7-day Average
90-day Average

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
7-day Average
90-day Average
Page 24 of 31
Neighborhood Detail
Market Action Index

The MIAMI BEACH, 33141 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 25.25 so buyers should expect to find reasonable levels of selection.
90-day Average

Three of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the current levels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyers seem to be placing emphasis on the premium homes.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 25 of 31
Neighborhood Detail
Days on Market
7-day Average
90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 26 of 31
Neighborhood Detail
MIAMI BEACH, FL 33109 - Fisher

$ 2,100,000 $ 3,150,545 $ 872 429 112 $ 30,000,000 $ 81,500 20 7% 9% 5% 2530 3.0 3.0 == == == +
This Week
The median list price in MIAMI BEACH, FL 33109 - Fisher Island this week is $2,100,000. The 112 properties have been on the market for an average of 429 days. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Number of Bedrooms Median Number of Bathrooms
Supply and Demand


Trend Key:
No change

$ 6,825,000 $ 2,925,000 $ 1,399,500 $ 567,500
5695 2742 2000 844
4.0 3.0 3.0 2.0
5.5 4.0 3.0 1.0
19 22 23 23
28 28 28 28
1 2 3 0
1 1 0 0
435 494 366 420
Page 27 of 31
Neighborhood Detail
Median Price
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
7-day Average
90-day Average
Quartile Prices
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 28 of 31
Neighborhood Detail

The 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.
7-day Average
90-day Average

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
7-day Average
90-day Average
Page 29 of 31
Neighborhood Detail
Market Action Index

90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 30 of 31
Neighborhood Detail
Days on Market
7-day Average
90-day Average

First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Page 31 of 31

Ekaterina Bazyka Market Update (Condo) MIAMI BEACH

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Ekaterina Bazyka's MARKET UPDATE

Report for the week of

Presented by Ekaterina Bazyka Luxury Home Specialist http://www.luxmiamirealestate.com - ekaterina.bazyka@gmail.com 954.224.0311

Condos & Townhomes in

Real-Time Market Profile

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile

$ 1,425,000 $ 495,000 $ 265,900 $ 138,000

1960 1150 900 662

2.0 2.0 1.0 1.0

3.0 2.0 2.0 1.0

638 639 639 639

296 263 225 205

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

Price per Square Foot

Inventory of Properties Listed for Sale

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

Market Action Index

Market Action Index per Quartile

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

Days on Market per Quartile

Monday September 12, 2011

Condos & Townhomes in

MIAMI BEACH, FL 33139

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile

$ 1,497,000 $ 524,900 $ 265,000 $ 157,500

1740 1078 730 581

2.0 2.0 1.0 1.0

3.0 2.0 1.0 1.0

272 273 273 273

287 241 220 207

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL 33139

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL 33139

Price per Square Foot

Inventory of Properties Listed for Sale

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL 33139

Market Action Index

Market Action Index per Quartile

Monday September 12, 2011

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311