brea, ca real estate market update

8/7/2019 Brea, CA Real Estate Market Update

1/14


2/14

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

The median single family home prin BREA this week is $469,000. Thomes have been on the market foan average of 147 days.

THIS WEEK

Most Expensive ListingLeast Expensive Listing

Median List PriceAverage List Price

Real-Time Market Profile Trend

Total Inventory

$ 469,000$ 469,440

$ 829,000$ 249,900

103147Average Days on Market

Asking Price per Square Foot $ 268

12Absorbed This Week*Percent of Properties with Price Decrease 52 %Percent Relisted (reset DOM) 14 %Percent Flip (price increased) 8 %

City Overview BREA

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

1,781

3.02.435

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.

Inventory has been lightening latel

and the Market Action Index has btrending up. Though days-on-markincreasing, these are mildly positivindications for the market.

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 homes2,250 4.0 3.0 23 25 4 64,501 - 6500

sq ft$ 599,9001 124

Upper-middle 25% of homes1,914 3.0 3.0 28 26 3 44,501 - 6500

sq ft$ 497,5002 156

Lower-middle 25% of homes1,474 3.0 2.0 46 26 2 16,501 - 8,000

sq ft$ 435,0003 144

Least expensive 25% of homes1,255 3.0 2.0 44 26 1 14,501 - 6500

sq ft$ 337,2504 165

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

Adam Brett - Eric Urban Market Update for BREA


3/14


PRICEThe market has been on a downwatrend recently and this week, whileessentially flat, doesn't break us outhat cycle.

QUARTILE PRICES

Prices have generally settled at a plateau, although Quartile 2 has betrending a bit downward in recent weeks. We'll need to see a persisten shift in the Market Action Index bewe see prices across the board mov from these levels.

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

segments.



4/14


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 persistent

changes as a leading indicator befothe market moves from these level

PRICE AND VALUE

INVENTORYInventory has been falling in recenweeks. Note that declining inventoalone does not signal a strengthenimarket. Look to the Market ActionIndex and Days on Market trends t gauge whether buyer interest ischanging with the available supply



5/14


The BREA market is currently quit strongly in the Buyer's Market zon(below 30). The 90-day Market AcIndex stands at 18. With several mof inventory available at the curren sales rate, buyers should find amplchoice.

Home sales have been exceeding ninventory for several weeks. Since a Buyer's market prices are not yetmoving higher as excess inventory

consumed. However, as the supplydemand trends continue, the markemoves into the Seller's zone, and wlikely to see upward 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 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



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7/14


92823Neighborhood DetailBREA




Total Inventory

$ 535,000$ 572,527

$ 829,000$ 419,000



3Absorbed This Week

The median single family home prin BREA 92823 this week is $535

THIS WEEK



Median Age

2,111

3.32.9

8Altos Research Value Statistics

4,501 - 6500 sq ft

Market Action Index 11Cold! Buyer's Market

Inventory has been trending down days-on-market is falling. But demas measured by the Market Action

Index is also trending down. The mis not giving strong up or down sig from these data.

PRICEWe continue to see prices in this zicode hovering around these currenlevels, even though they bumped u

bit this week. Look for a persistent shift in the Market Action Index bewe see prices move significantly frhere.



8/14


PRICE PER QUARTILEIn the quartile market segments, w prices in this zip code generally setat a plateau, although Quartile 2 habeen trending a bit downward in reweeks. We'll need to see a persisten

shift in the Market Action Index bewe see prices across the board mov from these levels.

QUARTILESCharacteristics per Quartile

Bed BathMed. SqftMed.Age Inven. New

Ab-sorbedMed. Lot SizeMedian PriceQuart

Avg.DoM

Most expensive 25% of homes3,800 4.0 4.0 9 3 0 16,501 - 8,000

sq ft$ 800,0001 119

Upper-middle 25% of homes2,222 4.0 3.0 9 4 1 0Less than

4,500 sq ft$ 602,5002 86

Lower-middle 25% of homes1,928 3.0 2.5 9 4 0 1Less than

4,500 sq ft$ 511,5003 210

Least expensive 25% of homes1,238 3.0 2.5 8 4 0 1Less than

4,500 sq ft$ 427,0004 149

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



9/14


INVENTORYInventory has been falling in recenweeks with 15 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 BREA 92823 is quite stronglyBuyer's Market zone. The 90-dayMarket Action Index stands at 11. W

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.



10/14


11/14


92821Neighborhood DetailBREA




Total Inventory

$ 454,950$ 451,868

$ 700,000$ 249,900



9Absorbed This Week

The median single family home prin BREA 92821 this week is $454

THIS WEEK



Median Age

1,745

3.02.0

39Altos Research Value Statistics

6,501 - 8,000 sq ft

Market Action Index 18Cold! Buyer's Market

Inventory has been lightening lateland the Market Action Index has btrending up. Though days-on-mark

increasing, these are mildly positivindications for the market.

PRICE Again this week in this zip code wea downward notch for prices. Pricihas been weak in recent weeks and

versus their absolute-high level. At point, we will be looking for a perupward shift in the Market ActionIndex as a leading indicator for atrough in prices.

1Adam Brett - Eric Urban Market Update for BREA


12/14


13/14


INVENTORYInventory has been steady around tlevels in recent weeks with 88 propcurrently available.

The BREA 92821 is quite stronglyBuyer's Market zone. The 90-dayMarket Action Index stands at 18.

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.

1Adam Brett - Eric Urban Market Update for BREA


14/14


DAYS ON MARKETThe properties have been on the m for an average of 148 days. Half oflistings have come newly on the min the past 136 or so days. Watch thday 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

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
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brea, ca real estate market update

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