david wright's market update
TRANSCRIPT
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8/14/2019 David Wright's Market Update
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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
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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
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+
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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+
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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.
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Single Family Home
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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
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Single Family Hom
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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
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Single Family Hom
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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
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Single Family Hom
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8/14/2019 David Wright's Market Update
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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+
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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.
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Single Family Home
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8/14/2019 David Wright's Market Update
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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
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Single Family Hom
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8/14/2019 David Wright's Market Update
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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
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Single Family Hom
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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
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8/14/2019 David Wright's Market Update
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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
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Single Family Hom
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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
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8/14/2019 David Wright's Market Update
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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
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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
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8/14/2019 David Wright's Market Update
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8/14/2019 David Wright's Market Update
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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