Monday August 22, 2011
Michael'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 $369,000. Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.
Market Action Index
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.
±+
No change
Trend $ 369,000 $ 255 277 21 % 4% 5% 1481 2.0 2.0
±+ ±+ ==
15.9
±+
Strong Buyer's
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Price Market Action Index
In the last few weeks we've seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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 Quartile
7-Day Rolling Average
90-Day Rolling Average
Characteristics per Quartile Investigate the market in quartiles where each quartile is 25% of homes ordered by price. Median Price
Square Feet
Beds
Baths
Age Inventory New Absorbed DOM
Top/First
$ 770,000
2563
3.0
3.0
11
187
4
6
325
Most expensive 25% of properties
Upper/Second
$ 449,000
1664
2.0
2.0
14
187
3
8
307
Upper-middle 25% of properties
Lower/Third
$ 299,000
1320
2.0
2.0
20
187
6
10
265
Lower-middle 25% of properties
Bottom/Fourth
$ 181,950
1094
2.0
2.0
29
188
12
12
210
Least expensive 25% of properties
Michael Solovay | www.WhatsThePointofAventura.com | 305.332.4260
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