Taking a look at a more narrowly defined Real Estate Market can be very helpful because all Real Estate is Local. We have done this for Miami Beach Area Single Family Homes.
The below chart is data from the past 90 days for Single Family Homes, ending 07/31/13. The data is taken from South East Florida’s Multiple Listing Service (MLS) for the cities and townships of Miami Beach (South Beach, Mid Beach, & North Beach), Surfside, Bal Harbour, Bay Harbor Islands, and Fisher Island. This data will help to analyze market conditions from month to month.
As you can see, we have broken the data into price ranges, and then you can see the amount of Active homes for sale, how many Real Buyers losed on a home for sale, how many of those listing agreements Expired unsold, then further calculated what percent of the Active homes for sale Expired and Sold. Then we calculated the Average Days on Market (Avg DOM), which is the amount of days it took the homes that sold to obtain a Real Buyer. Then we show the Average Discount, which is the percentage the Listed Price was discounted to the Actual Sale Price for all Closed Sales. The last column is for Average Age of the homes Sold.
Target Market Data – Single Family Homes
|
Price Range
|
Active | Closed | Listings
Expired |
% Listing
Expired |
% Sold | Avg DOM | Average
Discount |
Average Age |
| $0 – $399,999 | 8 | 6 | 2 | 25.00% | 75.00% | 62 | +2% | 1944 |
| $400,000 – $499,999 | 4 | 7 | 1 | 25.00% | 175.00% | 45 | 7% | 1946 |
| $500,000 – $649,999 | 11 | 11 | 2 | 18.18% | 100.00% | 215 | 6% | 1943 |
| $650,000 – $799,999 | 19 | 10 | 4 | 21.05% | 52.63% | 150 | 10% | 1934 |
| $800,000 – $999,999 | 21 | 12 | 1 | 4.76% | 57.14% | 111 | 6% | 1944 |
| $1,000,000 – $1,299,999 | 31 | 8 | 5 | 16.13% | 25.81% | 187 | 11% | 1954 |
| $1,300,000 – $1,599,999 | 19 | 6 | 6 | 31.58% | 31.58% | 71 | 14% | 1954 |
| $1,600,000 – $1,999,999 | 14 | 4 | 3 | 21.43% | 28.57% | 73 | 7% | 1943 |
| $2,000,000 – $2,999,999 | 21 | 8 | 5 | 23.81% | 38.10% | 128 | 10% | 1970 |
| $3,000,000 – $3,999,999 | 24 | 10 | 5 | 20.83% | 41.67% | 265 | 8% | 1950 |
| $4,000,000 – $4,999,999 | 13 | 3 | 2 | 15.38% | 23.08% | 249 | 8% | 1950 |
| $5,000,000 – $5,999,999 | 10 | 2 | 2 | 20.00% | 20.00% | 313 | 13% | 1966 |
| $6,000,000 – $6,999,999 | 9 | 2 | 0 | 0.00% | 22.22% | 294 | 7% | 1949 |
| $7,000,000 – $9,999,999 | 21 | 3 | 1 | 4.76% | 14.29% | 163 | 11% | 1959 |
| $10,000,000 + | 28 | 8 | 2 | 7.14% | 28.57% | 259 | 8% | 1980 |
| Totals: | 253 | 100 | 41 | 16.21% | 39.53% | 172 | 8% | 1952
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