david wright's market update

Upload: api-20697951

Post on 30-May-2018

216 views

Category:

Documents


0 download

TRANSCRIPT

  • 8/14/2019 David Wright's Market Update

    1/16

    MARKET UPDATEDavid Wright's

    Current Real Estate Market Conditions for Single Family Homes

    Trends in Pricing Current Levels of Supply and Demand

    Value Metrics

    Report for the week ofFebruary 15, 2010

    Presented by David WrightWright Realtywww.wrightrealtyservice.com - [email protected]

    YORBA LINDA,

    Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2009 Altos Research LLC

  • 8/14/2019 David Wright's Market Update

    2/16

    Median List Price

    Median Lot Size

    19.8

    Percent Relisted (reset DOM)

    2701

    2.5

    5 %

    Median Number of Bathrooms

    216

    Inventory of Properties Listed

    $ 301

    Percent Flip (price increased)

    0.25 - 0.50 acre

    Median House Size (sq ft)

    $ 759,000

    31 %

    4.0

    Market Action Index

    Median Number of Bedrooms

    Asking Price Per Square Foot

    5 %

    Percent of Properties with Price Decrease

    Strong Buyer's

    ==

    +

    ==

    ==

    Altos Research Value Statistics

    Most Expensive Listing

    Average Days on Market (DoM)

    ottom/Fourth

    Lower/Third

    Upper/Second

    Top/First

    This Week Real-Time Market Profile Trend

    The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

    Supply and Demand

    Characteristics per Quartile

    8 54500

    1862.5 24

    3.0

    6

    256

    4.0 71

    162

    5

    4

    0.50 - 1.0acre

    38

    $ 689,000

    6

    6

    72

    4.5

    0.25 - 0.50acre

    53.0

    15286,501 -

    8,000 sqft

    71

    $ 485,178

    4.0

    260

    0.25 - 0.50acre$ 924,900

    5.0$ 1,409,000

    21

    7

    3250

    Inventory and days-on-market areboth trending higher recently.However, the improving MarketAction Index implies some increaseddemand will temper the negativetrends.

    Monday February 15, 2010

    David Wright | Wright Realty | 7144429692

    71

    2372

    2.0

    The median list price in YORBA LINDA,CA this week is $759,000. The 285

    properties have been on the marketfor an average of 216 days.

    Most expensive 25% of properties

    Upper-middle 25% of properties

    Lower-middle 25% of properties

    Least expensive 25% of properties

    Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

    No change

    Strong upward trend Strong downward trend

    Slight upward trend Slight downward trend+

    ==

    =

    YORBA LINDC

    City Overview

    Least Expensive Listing

    Average List Price

    Average Age of Listing

    285

    $ 5,899,000

    $ 235,000

    $ 944,736

    24

    Trend Key:

    The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

    Page 2 of 16

    Single Family Home

  • 8/14/2019 David Wright's Market Update

    3/16

    David Wright | Wright Realty | 7144429692

    City OverviewYORBA LIND

    C

    Monday February 15, 2010

    Median PriceAgain this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-highlevels. The Market Action Index is a good leading indicator for the durability of this trend.

    90-day Average7-day Average

    Quartile PricesPrices 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 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    4/16

    David Wright | Wright Realty | 7144429692

    City OverviewYORBA LIND

    C

    Monday February 15, 2010

    Price per Square FootDespite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of themarket being priced at a premium. You can investigate this condition in the quartile details.

    90-day Average7-day Average

    Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

    90-day Average7-day Average

    Page 4 of 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    5/16

  • 8/14/2019 David Wright's Market Update

    6/16

    David Wright | Wright Realty | 7144429692

    City OverviewYORBA LIND

    Monday February 15, 2010

    Days on MarketThe properties have been on the market for an average of 216 days. Half of the listings have come newly on the market in thepast 133 or so days.

    90-day Average7-day Average

    Days on Market per QuartileIt 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 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    7/16

    Median List Price

    Median Lot Size

    18.1

    Percent Relisted (reset DOM)

    3000

    2.5

    0 %

    Median Number of Bathrooms

    221

    Inventory of Properties Listed

    $ 291

    Percent Flip (price increased)

    0.25 - 0.50 acre

    Median House Size (sq ft)

    $ 799,000

    37 %

    4.0

    Market Action Index

    Median Number of Bedrooms

    Asking Price Per Square Foot

    5 %

    Percent of Properties with Price Decrease

    Strong Buyer's

    ==

    ==

    ==

    Altos Research Value Statistics

    Most Expensive Listing

    Average Days on Market (DoM)

    ottom/Fourth

    Lower/Third

    Upper/Second

    Top/First

    This Week Real-Time Market Profile Trend

    The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

    Supply and Demand

    Characteristics per Quartile

    12 14004

    2232.5 21

    3.5

    2

    275

    4.0 23

    119

    1

    1

    0.25 - 0.50acre

    24

    $ 699,900

    2

    1

    24

    4.5

    0.25 - 0.50acre

    13.0

    19026,501 -

    8,000 sqft

    23

    $ 533,605

    4.0

    271

    0.25 - 0.50acre$ 910,000

    5.0$ 1,210,800

    20

    4

    3400

    Inventory and days-on-market areboth trending higher recently.However, the improving MarketAction Index implies some increaseddemand will temper the negativetrends.

    Monday February 15, 2010

    David Wright | Wright Realty | 7144429692

    23

    2465

    2.0

    The median list price in YORBA LINDA,CA 92887 this week is $799,000. The

    93 properties have been on themarket for an average of 221 days.

    Most expensive 25% of properties

    Upper-middle 25% of properties

    Lower-middle 25% of properties

    Least expensive 25% of properties

    Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

    No change

    Strong upward trend Strong downward trend

    Slight upward trend Slight downward trend+

    ==

    =

    YORBA LINDCA 9288

    Neighborhood Detail

    Least Expensive Listing

    Average List Price

    Average Age of Listing

    93

    $ 2,300,000

    $ 320,000

    $ 868,652

    19

    Trend Key:

    Inventory levels have been relativelyconsistent relative to sales. Despitethe fact that there is a relativelyhigh amount of available inventory,this Buyer's market is still seeingprices move higher. Given inventorylevels, these price conditions arerelatively fragile. If the marketcools off further, the price trend islikely to reverse.

    Page 7 of 16

    Single Family Home

  • 8/14/2019 David Wright's Market Update

    8/16

    David Wright | Wright Realty | 7144429692

    Neighborhood DetailYORBA LIND

    CA 928

    Monday February 15, 2010

    Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of thatcycle.

    90-day Average7-day Average

    Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.

    First/Top Second/Upper Third/Lower Fourth/Bottom

    Page 8 of 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    9/16

    David Wright | Wright Realty | 7144429692

    Neighborhood DetailYORBA LIND

    CA 928

    Monday February 15, 2010

    Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.

    90-day Average7-day Average

    Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

    90-day Average7-day Average

    Page 9 of 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    10/16

    David Wright | Wright Realty | 7144429692

    Neighborhood DetailYORBA LIND

    CA 928

    Monday February 15, 2010

    Market Action IndexThe YORBA LINDA, 92887 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 18.09. With several months of inventory available at the current sales rate, buyers should find ample choice.

    Buyers/Sellers Cutoff90-day Average

    Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. 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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantagezone (below 30) for a long period, prices are likely in for a downward correction.

    The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.

    age 10 of 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    11/16

    David Wright | Wright Realty | 7144429692

    Neighborhood DetailYORBA LIND

    CA 928

    Monday February 15, 2010

    Days on MarketThe properties have been on the market for an average of 221 days. Half of the listings have come newly on the market in thepast 133 or so days.

    90-day Average7-day Average

    Days on Market per QuartileIt 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 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    12/16

    Median List Price

    Median Lot Size

    20.1

    Percent Relisted (reset DOM)

    2534

    2.5

    7 %

    Median Number of Bathrooms

    214

    Inventory of Properties Listed

    $ 306

    Percent Flip (price increased)

    0.25 - 0.50 acre

    Median House Size (sq ft)

    $ 749,900

    28 %

    4.0

    Market Action Index

    Median Number of Bedrooms

    Asking Price Per Square Foot

    5 %

    Percent of Properties with Price Decrease

    Strong Buyer's

    ==

    +

    +

    +

    Altos Research Value Statistics

    Most Expensive Listing

    Average Days on Market (DoM)

    ottom/Fourth

    Lower/Third

    Upper/Second

    Top/First

    This Week Real-Time Market Profile Trend

    The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

    Supply and Demand

    Characteristics per Quartile

    7 34800

    1822.0 32

    3.0

    5

    249

    4.0 48

    178

    3

    3

    0.50 - 1.0acre

    39

    $ 679,490

    3

    6

    48

    4.5

    0.25 - 0.50acre

    63.0

    14806,501 -

    8,000 sqft

    48

    $ 482,000

    4.0

    246

    0.25 - 0.50acre$ 942,000

    5.0$ 1,599,000

    24

    2

    3230

    With inventory trending up but days-on-market trending down and theMarket Action Index essentially flatrecently, conditions do not seem tohave strong up or down pull.

    Monday February 15, 2010

    David Wright | Wright Realty | 7144429692

    47

    2346

    2.0

    The median list price in YORBA LINDA,CA 92886 this week is $749,900. The

    191 properties have been on themarket for an average of 214 days.

    Most expensive 25% of properties

    Upper-middle 25% of properties

    Lower-middle 25% of properties

    Least expensive 25% of properties

    Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

    No change

    Strong upward trend Strong downward trend

    Slight upward trend Slight downward trend+

    ==

    =

    YORBA LINDCA 9288

    Neighborhood Detail

    Least Expensive Listing

    Average List Price

    Average Age of Listing

    191

    $ 5,899,000

    $ 235,000

    $ 984,639

    26

    Trend Key:

    The market has settled in at arelative stasis in inventory and salesconditions. It's a Buyer's market thathas seen prices trend lower. Expectthat consistent up trends in demandwill be required before price trendschange significantly.

    age 12 of 16

    Single Family Home

  • 8/14/2019 David Wright's Market Update

    13/16

    David Wright | Wright Realty | 7144429692

    Neighborhood DetailYORBA LIND

    CA 928

    Monday February 15, 2010

    Median PriceRecently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in theMarket Action Index before we see prices significantly move from these levels.

    90-day Average7-day Average

    Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.

    First/Top Second/Upper Third/Lower Fourth/Bottom

    age 13 of 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    14/16

    David Wright | Wright Realty | 7144429692

    Neighborhood DetailYORBA LIND

    CA 928

    Monday February 15, 2010

    Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.

    90-day Average7-day Average

    Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

    90-day Average7-day Average

    age 14 of 16

    Single Family Hom

  • 8/14/2019 David Wright's Market Update

    15/16

  • 8/14/2019 David Wright's Market Update

    16/16

    David Wright | Wright Realty | 7144429692

    Neighborhood DetailYORBA LIND

    CA 928

    Days on MarketThe properties have been on the market for an average of 214 days. Half of the listings have come newly on the market in thepast 133 or so days.

    90-day Average7-day Average

    Days on Market per QuartileIt 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

    Single Family Hom