real estate market update for fullerton

8/9/2019 Real Estate Market Update For Fullerton

1/22

Current prices for homes on the market

Trends in pricingCurrent levels of supply and demand

Value metrics

market updateAdam Brett - Eric Urban

FULLERTON

Sunday July 25, 2010Report for the week of

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2/22

Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116

The median single family home prin FULLERTON this week is $559The 534 homes have been on themarket for an average of 124 days

THIS WEEK

Most Expensive ListingLeast Expensive Listing

Median List PriceAverage List Price

Real-Time Market Profile Trend

Total Inventory

$ 559,000$ 602,909

$ 3,750,000$ 120,000

534124Average Days on Market

Asking Price per Square Foot $ 285

25Absorbed This Week*Percent of Properties with Price Decrease 40 %Percent Relisted (reset DOM) 12 %Percent Flip (price increased) 8 %

City Overview FULLERTON

6,501 - 8,000 sq ft

Altos Research Value StatisticsMarket Action Index

Median Number of BedroomsMedian Number of Bathrooms

Median House Size (sq ft)Median Lot Size

Median Age

1,847

4.02.049

18Cold! Buyer's MarketAltos Research calculates the Market Action Index which measures available supplyrelative to the current level of demand. Index value above 30 indicates conditions favor the seller. See the section below for full details.

With inventory trending up but day

on-market trending down and theMarket Action Index essentially flarecently, conditions don't seem to h strong up or down pull.

To get a tightly targeted understand

of homes in the market, we break elocale into quartiles. Each quartile 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 homes2,976 4.0 3.0 32 133 8 4Less than

4,500 sq ft$ 869,9001 123

Upper-middle 25% of homes2,100 4.0 2.0 38 133 7 6Less than

4,500 sq ft$ 639,0002 134

Lower-middle 25% of homes1,572 3.0 2.0 52 134 7 64,501 - 6500

sq ft$ 444,0003 102

Least expensive 25% of homes1,257 3.0 1.0 56 134 11 94,501 - 6500

sq ft$ 320,0004 139

We'll refer to the quartiles in the tre graphs below.

Adam Brett - Eric Urban Market Update for FULLERTON


3/22


PRICEThis week saw relatively little pricchange from last week. However, pcontinue demonstrate a nice up tren general over the last several weeks

QUARTILE PRICES

Prices have generally settled at a plateau, although Quartile 3 is on aof an up trend in recent weeks. Weneed to see a persistent shift in theMarket Action Index before we see prices across the board move fromlevels.

Often, we find insights by watchin pricing trends within the quartile

segments.



4/22


In a market where prices are rising fairly consistently, price per squareis essentially flat. This often impliethat new homes coming on the marare pricier, and also larger than old

homes. As a result the value one cbuy stays the same.

PRICE AND VALUE

INVENTORYInventory has been climbing latelyNote that rising inventory alone donot signal a weakening market. Lothe Market Action Index and DaysMarket trends to gauge whether buinterest is keeping up with availabl supply.



5/22


The FULLERTON market is currenquite strongly in the Buyer's Marke zone (below 30). The 90-day Mark Action Index stands at 18. With sevmonths of inventory available at thcurrent sales rate, buyers should finample choice.

Inventory levels have been relativeconsistent relative to sales. Despite fact that there is a relatively highamount of available inventory, this

Buyer's market is still seeing pricesmove higher. Given inventory levethese price conditions are relatively fragile. If the market cools off furtthe price trend is likely to reverse.

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 at the 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 index falls into the Buyers Market zone for a long period, prices are likely in for a downwardcorrection.

Not surprisingly given the overallMarket Action Index, all quartiles athe Buyer's Market zone with sevemonths of inventory given the currrate of demand for homes in thequartile. Watch the quartile for chabefore the overall market shifts. Ofone end of the market (e.g. the low

will improve and signal a strengthemarket before the whole group cha

The quartiles can help you answer the question, "How hot is the market for homes in my pricerange?"

MARKET ACTION QUARTILES



6/22


DAYS ON MARKET (DOM)The properties have been on themarket for an average of 124 days.of the listings have come newly onmarket in the past 77 or so days.

DOM PER QUARTILEIt is not uncommon for the higher priced homes in an area to take lonto sell than those in the lower

quartiles.



7/22


92835Neighborhood DetailFULLERTON




Total Inventory

$ 729,000$ 830,467

$ 3,590,000$ 259,000



7Absorbed This Week

The median single family home prin FULLERTON 92835 this week $729,000.

THIS WEEK



Median Age

2,413

4.02.0

44Altos Research Value Statistics

6,501 - 8,000 sq ft

Market Action Index 14Cold! Buyer's Market

With inventory trending up but dayon-market trending down and theMarket Action Index essentially fla

recently, conditions don't seem to h strong up or down pull.

PRICEWe continue to see prices in this zicode bouncing around this plateau.Look for a persistent up-shift in the

Market Action Index before we see prices move from these levels.



8/22


PRICE PER QUARTILEIn the quartile market segments, w prices in this zip code have settled price plateau across the board. Pricall four quartiles are basically mixeLook for a persistent shift (up or do

in the Market Action Index before move from these current levels.

QUARTILESCharacteristics per Quartile

Bed BathMed. SqftMed.Age Inven. New


Avg.DoM


4,500 sq ft$ 1,249,9851 137


4,500 sq ft$ 799,0002 97

Lower-middle 25% of homes2,090 4.0 2.0 44 36 4 2Less than

4,500 sq ft$ 649,0003 116

Least expensive 25% of homes1,724 3.0 2.0 39 36 1 2Less than

4,500 sq ft$ 489,9504 176

While prices have been basically f

the price per square foot has beenheading downward. While not a sibroad strength in a market, larger homes are coming more available buyers are tending to get more hom for their money.

PRICE AND VALUE



9/22


INVENTORYInventory has been climbing lately143 properties available this week.that rising inventory alone does no signal a weakening market. Look tMarket Action Index to gauge whe

buyer interest is keeping up withavailable supply.

The FULLERTON 92835 is quite sin the Buyer's Market zone. The 90Market Action Index stands at 14.

several months of inventory availaat the current sales rate, buyers sho find ample choice.

MARKET ACTION INDEX


Not surprisingly, all quartiles are inBuyer's Market zone with severalmonths of inventory given the currlevels of demand. Watch the quarti for changes before the overall mark shifts.



10/22


DAYS ON MARKETThe properties have been on the m for an average of 131 days. Half oflistings have come newly on the min the past 70 or so days. Watch theday DOM trend for signals of a cha

market.

DAYS ON MARKET

It is not uncommon forthe higher priced homes in an area

(Quartiles 1 and 2) to take longer to sell than those in the lower quartile

1Adam Brett - Eric Urban Market Update for FULLERTON


11/22






Total Inventory

$ 450,000$ 521,578

$ 1,250,000$ 190,000



10Absorbed This Week


THIS WEEK



Median Age

1,758

4.02.0


6,501 - 8,000 sq ft




PRICEPrices in this zip code have been ondownward trend recently and thisweek, while essentially flat, doesn'

break us out of that cycle.



12/22


PRICE PER QUARTILEIn the quartile market segments, w prices in this zip code have settled price plateau across the board. Pricall four quartiles are basically mixeLook for a persistent shift (up or do

in the Market Action Index before move from these current levels.




Avg.DoM


4,500 sq ft$ 764,0001 140


4,500 sq ft$ 604,4502 153


sq ft$ 377,0003 119


sq ft$ 307,5004 145

Despite recently falling prices, the

per square foot has stayed reasonab flat. This implies that there's a porof the market being priced at a premium. You can investigate thiscondition in the quartile details.

PRICE AND VALUE



13/22


INVENTORYInventory has been climbing lately240 properties available this week.that rising inventory alone does no signal a weakening market. Look tMarket Action Index to gauge whe

buyer interest is keeping up withavailable supply.



MARKET ACTION INDEX





14/22



market.

DAYS ON MARKET





15/22






Total Inventory

$ 349,900$ 423,215

$ 1,300,000$ 120,000



6Absorbed This Week


THIS WEEK



Median Age

1,314

3.01.5


4,501 - 6500 sq ft

Market Action Index 22Cool. Buyer's Market

The Market Action Index has beenbasically flat recently, and days-onmarket decreasing, there aren't stro

signals for the direction of the mar

PRICERecently prices in this zip have setat a plateau even though they dippethis week. Look for a persistent up

in the Market Action Index before see prices significantly move fromlevels.



16/22


PRICE PER QUARTILEIn the quartile market segments, w pricing across most of the zip coderelatively strong recently. WhileQuartile 4 is basically flat, all other segments are in an up trend period

Unless the Market Action Index ha persistent downward shift, expect tQuartile 4 will assume a similar trewith the other groups.




Avg.DoM

Most expensive 25% of homes2,138 4.0 2.0 73 15 0 06,501 - 8,000

sq ft$ 639,0001 86

Upper-middle 25% of homes1,426 3.0 1.0 56 15 1 44,501 - 6500

sq ft$ 380,0002 78


sq ft$ 330,0003 154


sq ft$ 275,0004 84

The market plateau is seen across t

price and value. The price per squa foot and median list price have botbeen reasonably stagnant. Watch thMarket Action Index for persistentchanges as a leading indicator befothe market moves from these level

PRICE AND VALUE



17/22


INVENTORYInventory has been falling in recenweeks with 61 properties availableweek. Note that declining inventoralone does not signal a strengthenimarket. Look to the Market Action

Index to gauge whether buyer interis falling with the available supply.

The FULLERTON 92832 market icurrently in the 'Buyer's Market' zo(below 30), though not strongly so

90-day Market Action Index standsweek at 22 so buyers should expec find reasonable levels of selection.

MARKET ACTION INDEX





18/22



market.

DAYS ON MARKET





19/22






Total Inventory

$ 545,000$ 581,831

$ 3,750,000$ 249,000



2Absorbed This Week


THIS WEEK



Median Age

1,832

3.72.0


6,501 - 8,000 sq ft




PRICEWe continue to see prices in this zicode bouncing around this plateau.Look for a persistent up-shift in the

Market Action Index before we see prices move from these levels.



20/22


PRICE PER QUARTILEIn most of the quartile market segments, we see prices in this ziphave stabilized recently. Only Quar shows any price increases in the la few weeks. Often this condition ha

in markets where demand has falle(for example, due to micro-locationvariables) but supply is still relativ short. Buyers are focusing on the l price homes in the area.




Avg.DoM


4,500 sq ft$ 784,9001 78

Upper-middle 25% of homes1,888 3.0 2.0 49 22 1 18,001 - 10,000

sq ft$ 599,9502 69

Lower-middle 25% of homes1,581 4.0 1.0 52 22 0 06,501 - 8,000

sq ft$ 473,4503 110


sq ft$ 359,0004 102

The market plateau is seen across t

price and value. The price per squa foot and median list price have botbeen reasonably stagnant. Watch thMarket Action Index for persistentchanges as a leading indicator befothe market moves from these level

PRICE AND VALUE



21/22


INVENTORYInventory has been falling in recenweeks with 89 properties availableweek. Note that declining inventoralone does not signal a strengthenimarket. Look to the Market Action

Index to gauge whether buyer interis falling with the available supply.



MARKET ACTION INDEX





22/22


DAYS ON MARKETThe properties have been on the m for an average of 89 days. Half of tlistings have come newly on the min the past 70 or so days. Watch theday DOM trend for signals of a cha

market.

DAYS ON MARKET



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/

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