Ekaterina Bazyka Market Update [SF] MIAMI BEACH

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

1/26

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 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


2/26

Median List Price

Median Lot Size

14.2

Percent Relisted (reset DOM)

3187

4.0

5 %

Median Number of Bathrooms

263

Inventory of Properties Listed

$ 467

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 1,398,500

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

58 07120

2343.0 65

3.0

3

281

4.0 102

231

1

2

0.50 - 1.0acre

64

$ 962,500

13

4

102

7.0

6,501 -8,000 sqft

15.0

19344,501 -

6,500 sqft

102

$ 497,000

5.0

306

0.25 - 0.50acre$ 2,048,500

6.0$ 7,637,500

59

4

3914

The Market Action Index has beentrending down lately, while inventoryis climbing. These trends imply aweakening market.

Monday September 19, 2011

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

102

2630

2.0

The median list price in MIAMI BEACH,FL this week is $1,398,500. The 408

properties have been on the marketfor an average of 263 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 BEACH

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

408

$ 34,500,000

$ 167,310

$ 3,180,634

57

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.

Page 2 of 26

Single Family Home


3/26


City OverviewMIAMI BEACH


Median PriceAgain this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-highlevels. The Market Action Index is a good leading indicator for the durability of this 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

Page 3 of 26

Single Family Hom


4/26




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 4 of 26

Single Family Hom


5/26




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 14.22. 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 26

Single Family Hom


6/26




Days on MarketThe properties have been on the market for an average of 263 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 26

Single Family Hom


7/26

Median List Price

Median Lot Size

10.2


3566

4.0

15 %


277


$ 692


8,001 - 10,000 sqft


$ 2,950,000

16 %

4.0

Market Action Index



10 %


Strong Buyer's

==

+

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


34 07668

2474.0 61

3.0

0

371

4.0 20

197

0

0

0.50 - 1.0acre

66

$ 1,845,000

0

0

20

7.0

8,001 -10,000 sqft

05.0

20426,501 -

8,000 sqft

20

$ 872,000

5.0

295

0.25 - 0.50acre$ 3,800,000

6.0$ 7,925,000

62

2

4534

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.



20

3184

3.0

The median list price in MIAMI BEACH,FL 33139 this week is $2,950,000. The

80 properties have been on themarket for an average of 277 days.






No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


80

$ 29,500,000

$ 0

$ 4,250,574

53

Trend Key:


Page 7 of 26

Single Family Home


8/26


Neighborhood DetailMIAMI BEACH

33


Median PricePrice trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen anice run recently.


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 26

Single Family Hom


9/26



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.


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.


Page 9 of 26

Single Family Hom


10/26



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 10.22. 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 26

Single Family Hom


11/26



33






Page 11 of 26

Single Family Hom


12/26

Median List Price

Median Lot Size

14.3


3404

4.0

4 %


250


$ 416


8,001 - 10,000 sqft


$ 1,372,500

18 %

4.0

Market Action Index



5 %


Strong Buyer's

==

==

+

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


70 07903

2654.0 74

3.0

0

226

4.0 39

224

0

1

0.50 - 1.0acre

71

$ 995,000

4

2

39

9.0

6,501 -8,000 sqft

05.0

23676,501 -

8,000 sqft

38

$ 599,000

5.0

288

0.25 - 0.50acre$ 1,772,500

7.0$ 8,550,000

71

2

4145

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



38

2682

3.0








No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


154

$ 34,500,000

$ 299,000

$ 3,337,957

65

Trend Key:


age 12 of 26

Single Family Home


13/26



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.




age 13 of 26

Single Family Hom


14/26



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 14 of 26

Single Family Hom


15/26



33









age 15 of 26

Single Family Hom


16/26



33






age 16 of 26

Single Family Hom


17/26

Median List Price

Median Lot Size

17.3


2313

3.0

4 %


300


$ 297


4,501 - 6,500 sqft


$ 672,500

24 %

4.0

Market Action Index



3 %


Strong Buyer's

==

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


52 05343

3022.0 62

3.0

3

241

3.0 19

295

1

0

0.25 - 0.50acre

63

$ 549,000

4

1

19

5.5

4,501 -6,500 sqft

04.0

17454,501 -

6,500 sqft

18

$ 375,000

4.0

363

8,001 -10,000 sqft$ 850,000

5.0$ 4,075,000

58

0

3017

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



18

1950

2.0

The median list price in MIAMI BEACH,FL 33154 this week is $672,500. The







No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


74

$ 32,500,000

$ 259,000

$ 2,199,551

54

Trend Key:


age 17 of 26

Single Family Home


18/26



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.




age 18 of 26

Single Family Hom


19/26



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.




age 19 of 26

Single Family Hom


20/26



33









age 20 of 26

Single Family Hom


21/26



33






age 21 of 26

Single Family Hom


22/26

Median List Price

Median Lot Size

12.4


3006

4.0

1 %


237


$ 504


8,001 - 10,000 sqft


$ 1,587,000

14 %

4.0

Market Action Index



3 %


Strong Buyer's

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


58 06470

1953.0 58

3.0

2

265

4.0 25

173

1

1

0.25 - 0.50acre

61

$ 1,250,000

2

1

25

7.0

8,001 -10,000 sqft

15.0

17636,501 -

8,000 sqft

24

$ 370,000

5.0

321

0.25 - 0.50acre$ 2,175,000

5.5$ 6,245,000

56

0

3854

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



24

2619

2.0








No change



==

=

MIAMI BEACH33

Neighborhood Detail


Average List Price


98

$ 14,900,000

$ 167,310

$ 2,766,792

51

Trend Key:


age 22 of 26

Single Family Home


23/26



33


Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out ofthat cycle.




age 23 of 26

Single Family Hom


24/26



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.




age 24 of 26

Single Family Hom


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age 25 of 26

Single Family Hom


26/26



33





Single Family Hom

Documents

Ekaterina Bazyka Market Update [SF] MIAMI BEACH