Monday August 22, 2011
Michael's Executive Summary
MIAMI, FL 33180 Single Family Homes
This Week
Real-Time Market Profile
Trend
Median List Price $ 795,000 Asking Price Per Square Foot $ 274 Average Days on Market (DOM) 238 Percent of Properties with Price Decrease 31 % Percent Relisted (reset DOM) 8% Percent Flip (price increased) 6% Median House Size (sq ft) 2838 Median Lot Size 8,001 - 10,000 sqft Median Number of Bedrooms 4.0
The median list price in MIAMI, FL 33180 - Aventura this week is $795,000. Inventory and days-on-market are climbing, while the Market Action Index has been flat recently. The trends point to a weakening market.
Median Number of Bathrooms
Supply and Demand
Market Action Index
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.
±+
No change
== == ==
3.0
Strong Buyer's
11.5
±+
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Price
Market Action Index
While this week the median price in this zip code didn't fluctuate much, we continue to sit at all time high prices. Watch for persistent downward shift in the Market Action Index into the Buyer's zone as a leading indicator of the price strength subsiding.
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
90-Day Rolling Average
Characteristics per Quartile Investigate the market in quartiles where each quartile is 25% of homes ordered by price.
Quartile
Median Price
Sq. Ft.
Top/First
$ 1,175,000
Upper/Second
Lot Size
Beds
Baths
Age Inventory New Absorbed DOM
3374
6,501 8,000 sqft
4.0
4.0
15
15
0
0
265
Most expensive 25% of properties
$ 869,000
2980
4,501 6,500 sqft
4.0
3.0
14
15
1
1
325
Upper-middle 25% of properties
Lower/Third
$ 649,000
2618
8,001 10,000 sqft
4.0
3.0
22
16
1
0
149
Lower-middle 25% of properties
Bottom/Fourth
$ 294,500
2094
8,001 10,000 sqft
3.0
3.0
52
16
0
0
219
Least expensive 25% of properties
Michael Solovay | www.WhatsThePointofAventura.com | 305.332.4260
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