Monday January 3, 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 $330,000. The Market Action Index has been trending down lately, indicating demand falling along with supply. Conditions point to mildly negative trends for the market.
Market Action Index
Supply and Demand The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
±+
No change
Trend $ 330,000 $ 232 249 29 % 5% 2% 1430 2.0 2.0
≠≠ ±+ ±+
15.0
≠≠
Strong Buyer's
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Price Market Action Index
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
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
$ 735,000
2620
3.0
3.0
9
253
6
4
286
Most expensive 25% of properties
Upper/Second
$ 399,000
1610
2.0
2.0
20
254
5
5
263
Upper-middle 25% of properties
Lower/Third
$ 269,450
1250
2.0
2.0
21
254
4
7
251
Lower-middle 25% of properties
Bottom/Fourth
$ 150,000
1073
2.0
2.0
30
254
6
8
194
Least expensive 25% of properties
Michael Solovay | www.WhatsThePointofAventura.com | 305.332.4260
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