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 Condos.
The below chart is data from the past 90 days for Condominiums,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 condos for sale, how many Real Buyers Closed on a condo for sale, how many of those listing agreements Expired unsold, then further calculated what percent of the Active condos for sale Expired and Sold. Then we calculated the Average Days on Market (Avg DOM), which is the amount of days it took the condos 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 Closed Sales that were newer construction, which we considered to be anything built after 1995, versus older buildings built before 1995.
Target Market Data – Condominiums
| Price Range | Active | Closed |
Listings Expired |
% Listing Expired |
% Sold | Avg DOM | Average
Discount |
New
vs Resale |
| $0 – $199,999 | 264 | 228 | 57 | 21.59% | 86.36% | 92 | 2% | 6 vs. 222 |
| $200,000 – $249,999 | 124 | 80 | 24 | 19.35% | 64.52% | 79 | 3% | 4 vs. 76 |
| $250,000 – $299,999 | 176 | 86 | 32 | 18.18% | 48.86% | 107 | 5% | 11 vs. 75 |
| $300,000 – $349,999 | 116 | 35 | 14 | 12.07% | 30.17% | 136 | 5% | 6 vs. 29 |
| $350,000 – $399,999 | 112 | 35 | 22 | 19.64% | 31.25% | 97 | 6% | 7 vs. 28 |
| $400,000 – $499,999 | 192 | 66 | 32 | 16.67% | 34.38% | 138 | 6% | 26 vs. 40 |
| $500,000 – $599,999 | 127 | 65 | 24 | 18.90% | 51.18% | 113 | 6% | 29 vs. 36 |
| $600,000 – $699,999 | 95 | 39 | 21 | 22.11% | 41.05% | 164 | 5% | 22 vs. 17 |
| $700,000 – $799,999 | 73 | 25 | 9 | 12.33% | 34.25% | 134 | 5% | 17 vs. 8 |
| $800,000 – $899,999 | 69 | 22 | 11 | 15.94% | 31.88% | 157 | 6% | 18 vs. 4 |
| $900,000 – $1,179,999 | 87 | 29 | 18 | 20.69% | 33.33% | 192 | 7% | 20 vs. 9 |
| $1,180,000 – $1,399,999 | 50 | 27 | 10 | 20.00% | 54.00% | 186 | 6% | 18 vs. 9 |
| $1,400,000 – $1,799,999 | 57 | 21 | 9 | 15.79% | 36.84% | 132 | 6% | 18 vs. 3 |
| $1,800,000 – $2,199,999 | 45 | 14 | 1 | 2.22% | 31.11% | 309 | 5% | 13 vs. 1 |
| $2,200,000 – $2,699,999 | 37 | 8 | 3 | 8.11% | 21.62% | 99 | 7% | 7 vs. 1 |
| $2,700,000 – $3,199,999 | 31 | 13 | 8 | 25.81% | 41.94% | 180 | 10% | 10 vs. 3 |
| $3,200,000 – $3,999,999 | 52 | 10 | 9 | 17.31% | 19.23% | 151 | 8% | 6 vs. 4 |
| $4,000,000 – $4,999,999 | 20 | 3 | 1 | 5.00% | 15.00% | 182 | 4% | 3 vs. 0 |
| $5,000,000 + | 88 | 15 | 17 | 19.32% | 17.05% | 288 | 11% | 12 vs. 3 |
| Totals: | 1815 | 821 | 322 | 17.74% | 45.23% | 154 | 6% | 253 vs. 568 |