brea california real estate market update
TRANSCRIPT
-
8/8/2019 Brea California Real Estate Market Update
1/14
Current prices for homes on the mark
Trends in priciCurrent levels of supply and dema
Value metri
market updat
Adam Brett - Eric Urba
BRE
Sunday November 28, 20
Report for the week
Powered by Altos Research LLC Copyright 2005-2010. All Rights Reserved
RE/M
www.HomeSoldTeam.c
Presented by Adam Brett - Eric Urb
714.496.8116 - 714.749.74
www.altosresearch.com
http://www.altosresearch.com/http://www.altosresearch.com/ -
8/8/2019 Brea California Real Estate Market Update
2/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
The median single family home price
in BREA this week is $489,000. The 143
homes have been on the market for
an average of 124 days.
THIS WEEK
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 489,000
$ 503,879
$ 925,000
$ 250,000
143
124Average Days on Market
Asking Price per Square Foot $ 262
7Absorbed This Week*
Percent of Properties with Price Decrease 41 %
Percent Relisted (reset DOM) 10 %
Percent Flip (price increased) 9 %
City Overview BREA
Less than 4,500 sq ft
Altos Research Value Statistics
Market Action Index
Median Number of Bedrooms
Median Number of Bathrooms
Median House Size (sq ft)
Median Lot Size
Median Age
1,840
3.3
2.1
32
16Cold! Buyer's Market
Altos Research calculates the Market Action Index which measures available supplyrelative to the current level of demand. Index value above 30 indicates conditions favorthe seller. See the section below for full details.
The Market Action Index has been
trending down lately, indicatingdemand falling along with supply.
Conditions point to mildly negative
trends for the market.
To get a tightly targeted understanding
of homes in the market, we break eachlocale into quartiles. Each quartile is
25% of the homes listed.
QUARTILES
Characteristics per Quartile
Last Month's Trend Last Quarter's Trend
Trend Key
No Clear Monthly/Quarterly Trend
Bed BathMed.Sqft.
Med.Age Inven. New
Ab-sorbedMed. Lot SizeMedian PriceQuart
Avg.DoM
*Metric "Absorbed this Week" covers properties sold and those taken off the market for other reasons.Since sales sometimes take months to close, it is impossible to discern in real-time exactly which propertiessold.
Most expensive 25% of homes2,824 4.0 3.0 8 35 3 36,501 - 8,000
sq ft$ 664,0001 92
Upper-middle 25% of homes2,000 4.0 3.0 33 36 0 14,501 - 6500
sq ft$ 537,2502 113
Lower-middle 25% of homes1,516 3.0 2.0 44 36 0 16,501 - 8,000
sq ft$ 450,0003 132
Least expensive 25% of homes1,402 3.0 2.0 42 36 3 24,501 - 6500
sq ft$ 350,5004 161
We'll refer to the quartiles in the trend
graphs below.
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
3/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
PRICE
The market seems to have paused
around this plateau. The Market Action
Index is a good leading indicator for the
durability of this trend.
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 mov
from these current levels.
Often, we find insights by watching
pricing trends within the quartile
segments.
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
4/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
The market plateau is seen across the
price and value. The price per square
foot and median list price have both
been reasonably stagnant. Watch the
Market Action Index for persistent
changes as a leading indicator beforethe market moves from these levels.
PRICE AND VALUE
INVENTORY
Inventory has been falling in recent
weeks. Note that declining inventory
alone does not signal a strengthening
market. Look to the Market Action
Index and Days on Market trends to
gauge whether buyer interest is
changing with the available supply.
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
5/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
The BREA market is currently quite
strongly in the Buyer's Market zone
(below 30). The 90-day Market Action
Index stands at 16. With several month
of inventory available at the current
sales rate, buyers should find ample
choice.
The Market Action Index has been
trending lower for several weeks while
prices have remained relatively stable.
If inventory continues to grow relative
to demand however, it is likely that wewill see downward pressure on pricing.
The Market Action Index (MAI) illustrates the balance between supply and demand using a
statistical function of the current rate of sale versus current inventory.
An MAI value greater than 30 typically indicates a Seller's Market (a.k.a. "Hot Market")because demand is high enough to quickly gobble up available supply. A hot market willtypically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "ColdMarket") where the inventory of already-listed homes is sufficient to last several months atthe current rate of sales. A cold market will typically cause prices to fall.
MARKET ACTION INDEXResidential house prices are a function of supply and demand, and market conditions can becharacterized by analyzing those factors. Watch this index for sustained changes: if the indexfalls into the Buyers Market zone for a long period, prices are likely in for a downwardcorrection.
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 change
before the overall market shifts. Often
one end of the market (e.g. the low end)
will improve and signal a strengtheningmarket before the whole group changes
The quartiles can help you answer the question, "How hot is the market for homes in my pricerange?"
MARKET ACTION QUARTILES
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
6/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
DAYS ON MARKET (DOM)
The properties have been on the
market for an average of 124 days. Half
of the listings have come newly on the
market in the past 105 or so days.
DOM 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.
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
7/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
92823Neighborhood DetailBREA
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 580,000
$ 640,843
$ 925,000
$ 419,000
21
115Average Days on Market
Asking Price per Square Foot $ 253
0Absorbed This Week
The median single family home price
in BREA 92823 this week is $580,000.
THIS WEEK
Median Number of Bedrooms
Median Number of Bathrooms
Median House Size (sq ft)
Median Lot Size
Median Age
2,242
3.5
2.5
7Altos Research Value Statistics
Less than 4,500 sq ft
Market Action Index 16Cold! Buyer's Market
Inventory has been trending down and
days-on-market is falling. But demand
as measured by the Market Action
Index is also trending down. The markeis not giving strong up or down signals
from these data.
PRICE
This week prices in this zip code
bumped up a bit but the trend of recent
weeks is generally downward. A pickup
in demand will be reflected in theMarket Action Index, so watch that
chart to try to identify a trough in the
market.
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
8/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
PRICE PER QUARTILE
In the quartile market segments, we see
prices in this zip code have settled at a
price plateau across the board. Prices in
all four quartiles are basically mixed.
Look for a persistent shift (up or down)
in the Market Action Index before pricemove from these current levels.
QUARTILESCharacteristics per Quartile
Bed BathMed. SqftMed.Age Inven. New
Ab-sorbedMed. Lot SizeMedian PriceQuart
Avg.DoM
Most expensive 25% of homes0.25 - 0.50acre3,700 5.0 4.0 7 5 1 0$ 850,0001 87
Upper-middle 25% of homes2,956 4.0 3.0 8 5 0 06,501 - 8,000
sq ft$ 750,0002 108
Lower-middle 25% of homes2,074 3.0 3.0 8 5 0 04,501 - 6500
sq ft$ 550,0003 178
Least expensive 25% of homes1,377 3.0 3.0 7 6 0 0Less than
4,500 sq ft$ 447,0004 92
The market's downward trends are
shared across both price and value.
People are recently placing less value
on homes (you can see the recent
declines in price per square foot as
evidence.) Look for significant changes
in the Market Action Index as a
precursor to price and value changes,
possibly as inflection points for good
investment opportunities.
PRICE AND VALUE
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
9/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
INVENTORY
Inventory has been climbing lately with
21 properties available this week. Note
that rising inventory alone does not
signal a weakening market. Look to the
Market Action Index to gauge whether
buyer interest is keeping up withavailable supply.
The BREA 92823 is quite strongly in the
Buyer's Market zone. The 90-day
Market Action Index stands at 16. With
several months of inventory availableat the current sales rate, buyers should
find ample choice.
MARKET ACTION INDEX
MARKET ACTION QUARTILES
Not surprisingly, all quartiles are in theBuyer's Market zone with several
months of inventory given the current
levels of demand. Watch the quartiles
for changes before the overall market
shifts.
Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
10/14
-
8/8/2019 Brea California Real Estate Market Update
11/14
-
8/8/2019 Brea California Real Estate Market Update
12/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
PRICE PER QUARTILE
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 pricemove from these current levels.
QUARTILESCharacteristics per Quartile
Bed BathMed. SqftMed.Age Inven. New
Ab-sorbedMed. Lot SizeMedian PriceQuart
Avg.DoM
Most expensive 25% of homes2,530 4.0 3.0 29 30 2 36,501 - 8,000
sq ft$ 624,5001 90
Upper-middle 25% of homes1,954 4.0 3.0 33 30 0 16,501 - 8,000
sq ft$ 519,9502 119
Lower-middle 25% of homes1,508 3.0 2.0 45 31 0 16,501 - 8,000
sq ft$ 449,0003 128
Least expensive 25% of homes1,398 3.0 2.0 42 31 3 24,501 - 6500
sq ft$ 349,0004 166
The market plateau is seen across the
price and value. The price per square
foot and median list price have both
been reasonably stagnant. Watch the
Market Action Index for persistent
changes as a leading indicator before
the market moves from these levels.
PRICE AND VALUE
1Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
13/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
INVENTORY
Inventory has been climbing lately with
122 properties available this week. Note
that rising inventory alone does not
signal a weakening market. Look to the
Market Action Index to gauge whether
buyer interest is keeping up withavailable supply.
The BREA 92821 is quite strongly in the
Buyer's Market zone. The 90-day
Market Action Index stands at 15. With
several months of inventory availableat the current sales rate, buyers should
find ample choice.
MARKET ACTION INDEX
MARKET ACTION QUARTILES
Not surprisingly, all quartiles are in theBuyer's Market zone with several
months of inventory given the current
levels of demand. Watch the quartiles
for changes before the overall market
shifts.
1Adam Brett - Eric Urban Market Update for BREA
-
8/8/2019 Brea California Real Estate Market Update
14/14
Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116
DAYS ON MARKETThe properties have been on the marke
for an average of 126 days. Half of the
listings have come newly on the market
in the past 105 or so days. Watch the 90
day DOM trend for signals of a changin
market.
DAYS ON MARKET
It is not uncommon for
the higher priced homes in an area
(Quartiles 1 and 2) to take longer to
sell than those in the lower quartiles.
About Altos Research CorporationAltos Research Corp. reports real-time analysis of the residential real estate market in local markets acrossthe country. All information contained herein is based on properties currently listed for sale and available
publicly. When evaluating a particular property, make sure you use comparable sales data in addition tothe market trend information available in this report. The data presented in this report is accurate to thebest of our knowledge, but cannot be guaranteed as such. Use this report as one input in the real estatedecision making process, but do not rely on it for accuracy. Nothing in this report or any other AltosResearch publication is a recommendation to buy or to sell real estate. We recommend you work with alicensed real estate agent or broker.
Altos Research LLC Copyright 2005-2010. All Rights Reserved www.altosresearch.com
http://www.altosresearch.com/http://www.altosresearch.com/