market area update › relocationdirectorscouncil...$418,300 $418,300 15,269 946 946 104 104 $404...

MARKET AREA UPDATE Year: 2017 Report as of: 1Q 2Q 3Q 4Q

Market Area (City, State): Miami-Dade, Florida

Provided by (Company / Companies): Coldwell Banker Residential Real Estate Provided by RDC Member(s):

What are the most significant trends in your current real estate market? (Attach addenda, charts, graphs, etc. as appropriate)

*Market Action Reports included

Define Market Area: Urban (city limit area only) Metro Area (as defined by MSA) Other: Please explain: * Single Family

(detached) Condominiums / Townhomes

(attached)

**Sales Price (current) Choose one: Average Median

$ 476,662

$ 418,300

**Sales Price (same time prior year) Choose one: Average Median

$ 454,825

$ 349,775

Average Days on Market – list to contract (current)

# 75 Increase Decreasing Stable

# 104 Increase Decreasing Stable

Absorption – Months of Inventory (last 3 months) Number of active listings divided by the average # of sales per month (for the last 3 months) = # of months needed to sell existing inventory Example: Active Listings = 4500 Closed sales in the past 3 months = 4000 RIGHT: 4,000/3 (months)=1,333 (sales per month)

4,500/1,333=3.37 months of inventory WRONG: 4,500/4,000=1 month of inventory

# 6.47

# 17.24

Absorption – Months of Inventory (same time prior year) # 6.83 # 17.37

Active Listings # 6,228 # 14,001

Closed ( total last 3 months) # 2,888 # 2,436

Expired Listings ( total last 3 months if available) # n/a # n/a

Change in Home Values

-3.2%

Increase in past 3 months

Stable

Decreasing in past 3 months

1.5 %

Increase in past 3 months

Stable

Decreasing in past 3 months

Sold LP/SP Ratio (last 3 months) 94.4% 92.4%

**Average = the result by adding all sales prices and dividing by the number of units sold Median = denoting the middle of the range of values

How would you rate the overall economic conditions in area as defined above: Mixed Stable Healthy Shrinking Depressed Supply of Listings: (Single family) Shortage Oversupply Balanced ~ (Condo/Town home) Shortage Oversupply Balanced Overall Market Conditions: Active Stable Sluggish Flat Depressed Unemployment Rate: % % 4.6 Average – Please check trend: Increasing Decreasing Same Please describe local economic conditions/climate: (draw upon newspaper articles concerning the coming and going of corporations, layoffs, etc.) *Miami-Dade County continues to expand its economy led by its two largest economic engines: Miami International Airport and Port Miami. It is becoming one of the top global communities in international trade and commerce, along with economic production. Miami-Dade County is a premiere global community to live and invest in, and continues enhancing entrepreneurships.

Is There a Charge for Rental Assistance: Yes No Outsourced Is Home/Condo Rental Information Available in Your MLS: Yes No

Single Family Housing Availability: (3+Bedrooms) Shortage Oversupply Balanced Average Rent 2220.00 Condo/Townhome Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent 2075.00 Apartment Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent 2436.00

REAL ESTATE MARKET DATA

GENERAL ECONOMY

RENTAL INFORMATION

Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year

Median List Price of all Current Listings

Average List Price of all Current Listings

January Median Sales Price

January Average Sales Price

Total Properties Currently for Sale (Inventory)

January Number of Properties Sold

January Average Days on Market (Solds)

Asking Price per Square Foot (based on New Listings)

January Sold Price per Square Foot

January Month's Supply of Inventory

January Sale Price vs List Price Ratio

Property Sales

Prices

Inventory & MSI

Data is provided courtesy of Miami Association of REALTORS and may not reflect all relevant real estate activity. Coldwell Banker Residential Real Estate

does not warrant or guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

Market Action Report January 2018

County: Miami-Dade

Price Range: All | Properties: Condo - Twn

Trending versus*: Trending versus*:

$410,000

$863,182

$232,700 $232,700

$418,300 $418,300

15,269

946 946

104 104

$404 $404

$281 $281

16.1 16.1

91.9% 91.9%

The Total Inventory of Properties available for sale as of

January was 15,269, up 3.2% from 14,795 last month and up

1.8% from 14,994 in January of last year. January 2018

Inventory was at its highest level compared with January of

2017 and 2016.

A comparatively lower MSI is more beneficial for sellers while a

higher MSI is better for buyers. The January 2018 MSI of 16.1

months was at a mid level compared with January of 2017 and

2016.

Copyright © Coldwell Banker Residential Real Estate | Price Range: All | Property Types: Condo - Twn

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2017) / YTD = Year-to-date | Arrows indicate if Month / YTD values are higher (up), lower (down) or unchanged (flat)

Number of Properties Sold

January Property sales were 946, up 4.6% from 904 in January

of 2017 and 19.8% lower than the 1,179 sales last month.

January 2018 sales were at a mid level compared to January of

2017 and 2016. January YTD sales of 946 are running 4.6%

ahead of last year's year-to-date sales of 904.

Median Sales Price and Average Sales PriceThe Median Sales Price in January was $232,700, up 4.3% from

$223,000 in January of 2017 and down 2.0% from $237,500

last month. The Average Sales Price in January was $418,300,

up 19.6% from $349,775 in January of 2017 and up 7.8% from

$388,081 last month. January 2018 ASP was at the highest

level compared to January of 2017 and 2016.

Total Inventory & Month's Supply of Inventory (MSI)

Coldwell Banker Residential

5951 Cattleridge Ave

Sarasota, FL 34232https://www.coldwellbankerhomes.com/florida

941-487-1400

1,2

57

1,5

21

1,5

85

1,5

10

1,5

78

1,5

81

1,4

12

1,3

58

1,4

31

1,1

42

1,2

99

99

5

1,0

84

1,3

54

1,3

15

1,2

94

1,3

97

1,1

88

1,2

19

1,1

49

1,0

03

1,0

15

1,1

11

90

4

1,0

12

1,3

52

1,1

32

1,3

80

1,3

60

1,1

47

1,2

07

85

6

1,0

50

98

1

1,1

79

94

6

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

F

15

M A M J J A S O N D J

16

F M A M J J A S O N D J

17


18

150

200

250

300

350

400

450

F

15


16


17


18

13

,55

7

13

,47

3

13

,26

7

12

,93

9

12

,58

3

12

,48

1

12

,31

6

12

,23

7

12

,53

3

12

,76

4

12

,70

7

13

,56

5

14

,08

7

14

,20

1

14

,24

6

14

,24

9

14

,28

3

14

,22

5

14

,16

3

14

,26

9

14

,45

3

14

,76

6

14

,43

7

14

,99

4

15

,21

5

15

,37

4

15

,21

2

15

,18

7

14

,94

6

15

,05

0

15

,01

3

14

,79

1

15

,48

5

15

,32

1

14

,79

5

15

,26

9

0.0

5.0

10.0

15.0

20.0

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

F

15


16


17


18

3 Mo Avg

3 Mo Avg

Market Time

Selling Price per Square Foot

Selling Price vs Original Listings Price

Inventory / New Listings / Sales




County: Miami-Dade


Inventory / New Listings / SalesThis last view of the market combines monthly inventory of

Properties for sale along with New Listings and Sales. The

graph shows the basic annual seasonality of the market as well

as the relationship between these items. The number of New

Listings in January 2018 was 3,373, up 56.3% from 2,158 last

month and up 2.9% from 3,278 in January of last year.


Days On Market for Sold Properties

The average Days On Market (DOM) shows how many days the

average Property is on the market before it sells. An upward

trend in DOM tends to indicate a move towards more of a

Buyer's market, a downward trend a move towards more of a

Seller's market. The DOM for January was 104, down 1.9% from

106 days last month and down 3.7% from 108 days in January of

last year. The January 2018 DOM was at a mid level compared

with January of 2017 and 2016.

Selling Price per Square FootThe Selling Price per Square Foot is a great indicator for the

direction of Property values. Since Median Sales Price and

Average Sales price can be impacted by the 'mix' of high or low

end Properties in the market, the selling price per square foot is

a more normalized indicator on the direction of Property values.

The January 2018 Selling Price per Square Foot of $281 was up

4.4% from $269 last month and up 5.5% from 266 in January of

last year.

Selling Price versus Listing Price RatioThe Selling Price vs Original Listing Price reveals the average

amount that Sellers are agreeing to come down from their

original list price. The lower the ratio is below 100% the more of

a Buyer's market exists, a ratio at or above 100% indicates more

of a Seller's market. The January 2018 Selling Price vs Original

List Price of 91.9% was down from 92.4% last month and down

from 92.0% in January of last year.




941-487-1400

91

108104

0

20

40

60

80

100

120

F

15


16


17


18

274

266

281

250

255

260

265

270

275

280

285

290

295

300

F

15


16


17


18

93.3%

92.0% 91.9%

91%

91%

92%

92%

93%

93%

94%

94%

95%

F

15


16


17


18

13

,55

7

13

,47

3

13

,26

7

12

,93

9

12

,58

3

12

,48

1

12

,31

6

12

,23

7

12

,53

3

12

,76

4

12

,70

7

13

,56

5

14

,08

7

14

,20

1

14

,24

6

14

,24

9

14

,28

3

14

,22

5

14

,16

3

14

,26

9

14

,45

3

14

,76

6

14

,43

7

14

,99

4

15

,21

5

15

,37

4

15

,21

2

15

,18

7

14

,94

6

15

,05

0

15

,01

3

14

,79

1

15

,48

5

15

,32

1

14

,79

5

15

,26

9

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

F

15


16


17


18

Avg Selling Price divided by Avg Listing Price for sold properties during the month

3 Mo Avg

3 Mo Avg

3 Mo Avg



Inventory / New Listings / SalesThis last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual

seasonality of the market as well as the relationship between these items. The number of New Listings in January 2018 was 3,373, up 56.3% from

2,158 last month and up 2.9% from 3,278 in January of last year.


Inventory / Listings / Sales January 2018

County: Miami-Dade





941-487-1400

13

,55

7

13

,47

3

13

,26

7

12

,93

9

12

,58

3

12

,48

1

12

,31

6

12

,23

7

12

,53

3

12

,76

4

12

,70

7

13

,56

5

14

,08

7

14

,20

1

14

,24

6

14

,24

9

14

,28

3

14

,22

5

14

,16

3

14

,26

9

14

,45

3

14

,76

6

14

,43

7

14

,99

4

15

,21

5

15

,37

4

15

,21

2

15

,18

7

14

,94

6

15

,05

0

15

,01

3

14

,79

1

15

,48

5

15

,32

1

14

,79

5

15

,26

9

2,9

33

3,1

52

2,9

71

2,6

34

2,7

49

2,6

36

2,6

43

2,7

27

2,9

26

2,6

00

2,4

33 3

,28

3

3,2

28

3,0

58

2,9

26

2,7

13

2,7

20

2,5

03

2,6

42

2,6

35

2,3

86

2,5

65

2,2

99 3

,27

8

2,8

59

3,2

55

2,6

35

2,8

55

2,7

15

2,6

79

2,7

60

1,7

48 2

,95

0

2,6

77

2,1

58

3,3

73

1,2

57

1,5

21

1,5

85

1,5

10

1,5

78

1,5

81

1,4

12

1,3

58

1,4

31

1,1

42

1,2

99

99

5

1,0

84

1,3

54

1,3

15

1,2

94

1,3

97

1,1

88

1,2

19

1,1

49

1,0

03

1,0

15

1,1

11

90

4

1,0

12

1,3

52

1,1

32

1,3

80

1,3

60

1,1

47

1,2

07

85

6

1,0

50

98

1

1,1

79

94

6

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

F 15 M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M J J A S O N D J 18

Inventory New Listings Sales

Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year

Median List Price of all Current Listings

Average List Price of all Current Listings

January Median Sales Price

January Average Sales Price

Total Properties Currently for Sale (Inventory)

January Number of Properties Sold

January Average Days on Market (Solds)

Asking Price per Square Foot (based on New Listings)

January Sold Price per Square Foot

January Month's Supply of Inventory

January Sale Price vs List Price Ratio

Property Sales

Prices

Inventory & MSI




County: Miami-Dade

Price Range: All | Properties: S

Trending versus*: Trending versus*:

$539,000

$1,399,536

$334,500 $334,500

$476,662 $476,662

6,228

854 854

75 75

$254 $254

$189 $189

7.3 7.3

93.6% 93.6%

The Total Inventory of Properties available for sale as of

January was 6,228, up 2.6% from 6,070 last month and down

12.1% from 7,089 in January of last year. January 2018

Inventory was at its lowest level compared with January of 2017

and 2016.

A comparatively lower MSI is more beneficial for sellers while a

higher MSI is better for buyers. The January 2018 MSI of 7.3

months was at its lowest level compared with January of 2017

and 2016.

Copyright © Coldwell Banker Residential Real Estate | Price Range: All | Property Types: S

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2017) / YTD = Year-to-date | Arrows indicate if Month / YTD values are higher (up), lower (down) or unchanged (flat)

Number of Properties Sold

January Property sales were 854, down 5.3% from 902 in

January of 2017 and 20.5% lower than the 1,074 sales last

month. January 2018 sales were at a mid level compared to

January of 2017 and 2016. January YTD sales of 854 are

running 5.3% behind last year's year-to-date sales of 902.

Median Sales Price and Average Sales PriceThe Median Sales Price in January was $334,500, up 9.1% from

$306,500 in January of 2017 and down 0.1% from $334,950

last month. The Average Sales Price in January was $476,662,

up 4.8% from $454,825 in January of 2017 and down 6.2% from

$508,185 last month. January 2018 ASP was at the highest level

compared to January of 2017 and 2016.

Total Inventory & Month's Supply of Inventory (MSI)




941-487-1400

1,0

00

1,2

62

1,3

18

1,3

02

1,4

21

1,4

13

1,2

01

1,2

29

1,1

98

95

5

1,1

58

85

1

1,0

04

1,2

17

1,2

10

1,2

15

1,3

35

1,1

88

1,3

10

1,1

60

1,0

43

1,0

68

1,1

45

90

2

92

6

1,2

98

1,1

99

1,3

52

1,3

69

1,1

17

1,1

82

69

9

1,0

30

96

0

1,0

74

85

4

0

200

400

600

800

1,000

1,200

1,400

1,600

F

15


16


17


18

200

250

300

350

400

450

500

550

600

F

15


16


17


18

8,0

07

7,6

24

7,2

10

6,9

78

6,7

59

6,8

80

6,8

62

6,9

07

7,0

28

6,9

62

6,7

33

7,0

90

7,3

33

7,2

34

7,1

67

7,0

91

7,0

65

7,0

47

7,0

80

7,1

09

7,0

90

7,1

60

6,7

95

7,0

89

6,9

80

6,8

70

6,7

21

6,6

18

6,5

15

6,6

54

6,6

93

6,4

31

6,5

93

6,3

27

6,0

70

6,2

28

0.0

2.0

4.0

6.0

8.0

10.0

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

F

15


16


17


18

3 Mo Avg

3 Mo Avg

Market Time

Selling Price per Square Foot

Selling Price vs Original Listings Price

Inventory / New Listings / Sales




County: Miami-Dade


Inventory / New Listings / SalesThis last view of the market combines monthly inventory of

Properties for sale along with New Listings and Sales. The

graph shows the basic annual seasonality of the market as well

as the relationship between these items. The number of New

Listings in January 2018 was 2,145, up 52.8% from 1,404 last

month and down 2.0% from 2,188 in January of last year.


Days On Market for Sold Properties

The average Days On Market (DOM) shows how many days the

average Property is on the market before it sells. An upward

trend in DOM tends to indicate a move towards more of a

Buyer's market, a downward trend a move towards more of a

Seller's market. The DOM for January was 75, equal to 75 days

last month and down 5.1% from 79 days in January of last year.

The January 2018 DOM was at a mid level compared with

January of 2017 and 2016.

Selling Price per Square FootThe Selling Price per Square Foot is a great indicator for the

direction of Property values. Since Median Sales Price and

Average Sales price can be impacted by the 'mix' of high or low

end Properties in the market, the selling price per square foot is

a more normalized indicator on the direction of Property values.

The January 2018 Selling Price per Square Foot of $189 was

down 1.0% from $191 last month and up 5.4% from 180 in

January of last year.

Selling Price versus Listing Price RatioThe Selling Price vs Original Listing Price reveals the average

amount that Sellers are agreeing to come down from their

original list price. The lower the ratio is below 100% the more of

a Buyer's market exists, a ratio at or above 100% indicates more

of a Seller's market. The January 2018 Selling Price vs Original

List Price of 93.6% was down from 94.7% last month and down

from 94.2% in January of last year.




941-487-1400

72

7975

0

10

20

30

40

50

60

70

80

90

F

15


16


17


18

185

180

189

150

155

160

165

170

175

180

185

190

195

200

F

15


16


17


18

95.6%

94.2%

93.6%

92%

93%

93%

94%

94%

95%

95%

96%

96%

97%

F

15


16


17


18

8,0

07

7,6

24

7,2

10

6,9

78

6,7

59

6,8

80

6,8

62

6,9

07

7,0

28

6,9

62

6,7

33

7,0

90

7,3

33

7,2

34

7,1

67

7,0

91

7,0

65

7,0

47

7,0

80

7,1

09

7,0

90

7,1

60

6,7

95

7,0

89

6,9

80

6,8

70

6,7

21

6,6

18

6,5

15

6,6

54

6,6

93

6,4

31

6,5

93

6,3

27

6,0

70

6,2

28

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

F

15


16


17


18

Avg Selling Price divided by Avg Listing Price for sold properties during the month

3 Mo Avg

3 Mo Avg

3 Mo Avg



Inventory / New Listings / SalesThis last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual

seasonality of the market as well as the relationship between these items. The number of New Listings in January 2018 was 2,145, up 52.8% from

1,404 last month and down 2.0% from 2,188 in January of last year.


Inventory / Listings / Sales January 2018

County: Miami-Dade





941-487-1400

8,0

07

7,6

24

7,2

10

6,9

78

6,7

59

6,8

80

6,8

62

6,9

07

7,0

28

6,9

62

6,7

33 7,0

90

7,3

33

7,2

34

7,1

67

7,0

91

7,0

65

7,0

47

7,0

80

7,1

09

7,0

90

7,1

60

6,7

95

7,0

89

6,9

80

6,8

70

6,7

21

6,6

18

6,5

15

6,6

54

6,6

93

6,4

31

6,5

93

6,3

27

6,0

70

6,2

28

1,9

22

2,0

88

2,0

05

1,9

58

2,1

12

2,0

76

1,9

79

2,0

23

2,0

92

1,7

32

1,4

97

2,1

62

2,2

43

2,1

12

2,0

18

2,0

36

2,0

87

1,8

37

1,9

88

2,0

03

1,7

32

1,7

61

1,4

05

2,1

88

1,8

59 2,1

96

1,8

24

2,0

51

1,8

90

1,9

05

2,0

44

1,0

38

1,8

73

1,7

35

1,4

04

2,1

45

1,0

00

1,2

62

1,3

18

1,3

02

1,4

21

1,4

13

1,2

01

1,2

29

1,1

98

95

5

1,1

58

85

1

1,0

04

1,2

17

1,2

10

1,2

15

1,3

35

1,1

88

1,3

10

1,1

60

1,0

43

1,0

68

1,1

45

90

2

92

6

1,2

98

1,1

99

1,3

52

1,3

69

1,1

17

1,1

82

69

9

1,0

30

96

0

1,0

74

85

4

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

F 15 M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M J J A S O N D J 18

Inventory New Listings Sales

market area update › relocationdirectorscouncil...$418,300 $418,300 15,269 946 946 104 104 $404...

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