Ekaterina Bazyka's MARKET UPDATE

MIAMI BEACH, FL 33140

Current Real Estate Market Conditions for Condos & Townhomes Trends in Pricing Current Levels of Supply and Demand Value Metrics

Report for the week of

September 19, 2011

Presented by Ekaterina Bazyka Luxury Home Specialist http://www.luxmiamirealestate.com - ekaterina.bazyka@gmail.com 954.224.0311

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC

City Overview
Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

Condos & Townhomes in

MIAMI BEACH, FL

This Week
The median list price in MIAMI BEACH, FL this week is $358,000. The 2593 properties have been on the market for an average of 246 days.
Median List Price Average List Price

Real-Time Market Profile

$ 358,000 $ 770,773 $ 377 246 2593 $ 30,000,000 $ 15,000 32 17 % 5% 6% 1020 2.0 2.0

Trend
== == +

Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing

The Market Action Index has been basically flat recently, and days-onmarket decreasing, there are not strong signals for the direction of the market.

Least Expensive Listing Average Age of Listing 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

Supply and Demand

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.

Altos Research Value Statistics

Market Action Index Strong Buyer's 19.6 + 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 a seller's advantage. Below 30, conditions give the advantage to the buyer.

Trend Key:

No change

== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend

Characteristics per Quartile

Quartile Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Beds Baths Age Inventory New Absorbed DOM

$ 1,405,000 $ 495,000 $ 265,000 $ 135,999

1950 1128 897 665

2.0 2.0 1.0 1.0

3.0 2.0 2.0 1.0

9 20 44 47

648 648 648 649

25 28 45 65

22 22 31 49

292 265 221 204

Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Page 2 of 11

Monday September 19, 2011

City Overview

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL

Median Price
This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.

7-day Average

90-day Average

Quartile Prices
Prices 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 11

Monday September 19, 2011

City Overview

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL

Price per Square Foot

The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.

7-day Average

90-day Average

Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.

7-day Average

90-day Average

Page 4 of 11

Monday September 19, 2011

City Overview

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL

Market Action Index

The MIAMI BEACH market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 19.63. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average

Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group changes.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantage 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 function of the current rate of sale versus current inventory.

Page 5 of 11

Monday September 19, 2011

City Overview

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL

Days on Market
The properties have been on the market for an average of 246 days. Half of the listings have come newly on the market in the past 161 or so days.

7-day Average

90-day Average

Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 6 of 11

Monday September 19, 2011

Neighborhood Detail
Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

Condos & Townhomes in

MIAMI BEACH, FL 33140

Real-Time Market Profile Trend
$ 359,000 $ 572,555 $ 343 240 565 $ 11,750,000 $ 25,000 32 20 % 3% 5% 1031 2.0 2.0 == == + ==

This Week
The median list price in MIAMI BEACH, FL 33140 this week is $359,000. The 565 properties have been on the market for an average of 240 days.
Median List Price Average List Price

Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing

Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.

Least Expensive Listing Average Age of Listing 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

Supply and Demand

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.

Altos Research Value Statistics

Market Action Index Strong Buyer's 16.8 == 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 a seller's advantage. Below 30, conditions give the advantage to the buyer.

Trend Key:

No change

== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend

Characteristics per Quartile

Quartile Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Beds Baths Age Inventory New Absorbed DOM

$ 950,000 $ 450,000 $ 295,000 $ 140,000

1621 1120 987 556

2.0 2.0 2.0 1.0

3.0 2.0 2.0 1.0

6 37 44 45

141 141 141 142

7 7 9 15

4 5 4 13

265 240 231 223

Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Page 7 of 11

Monday September 19, 2011

Neighborhood Detail

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL 33140

Median Price
Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.

7-day Average

90-day Average

Quartile Prices
In the quartile market segments, we see prices in this zip code 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 8 of 11

Monday September 19, 2011

Neighborhood Detail

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL 33140

Price per Square Foot

The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.

7-day Average

90-day Average

Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.

7-day Average

90-day Average

Page 9 of 11

Monday September 19, 2011

Neighborhood Detail

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL 33140

Market Action Index

The MIAMI BEACH, 33140 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 16.78. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average

Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantage 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 function of the current rate of sale versus current inventory.

Page 10 of 11

Monday September 19, 2011

Neighborhood Detail

Condos & Townhomes in

Ekaterina Bazyka | Luxury Home Specialist | 954.224.0311

MIAMI BEACH, FL 33140

Days on Market
The properties have been on the market for an average of 240 days. Half of the listings have come newly on the market in the past 175 or so days.

7-day Average

90-day Average

Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 11 of 11

Monday September 19, 2011