Monday August 2, 2010
Michael Solovay's Executive Summary
MIAMI, FL 33180 Condos - Townhomes - TICs
This Week
Real-Time Market Profile Median List Price Asking Price Per Square Foot Average Days on Market (DOM) 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
The median list price in MIAMI, FL 33180 - Aventura this week is $340,000. Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Market Action Index
Supply and Demand Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.
±+
No change
Trend $ 340,000 $ 235 246 28 % 6% 5% 1670 2.0 2.0
±+ ≠≠ ≠≠
11.6
==
Strong Buyer's
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Price
Market Action Index
Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
Price Trends
7-Day Rolling Average
90-Day Rolling Average
Buyer/Seller Cutoff
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 Seller's Market conditions. Below 30, conditions favor the buyer.
Quartiles
7-Day Rolling Average
Characteristics per Quartile Quartile
Median Price
Square Feet
Beds
Baths
90-Day Rolling Average
Investigate the market in quartiles where each quartile is 25% of homes ordered by price.
Age Inventory New Absorbed DOM
Top/First
$ 739,000
2816
3.0
3.0
10
263
5
7
291
Most expensive 25% of properties
Upper/Second
$ 400,000
1700
2.0
2.0
16
264
5
6
273
Upper-middle 25% of properties
Lower/Third
$ 279,000
1306
2.0
2.0
19
264
10
9
217
Lower-middle 25% of properties
Bottom/Fourth
$ 148,250
1060
2.0
2.0
35
264
28
16
205
Least expensive 25% of properties
Michael Solovay | www.WhatsThePointofAventura.com | 305.332.4260
Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2010 Altos Research LLC