carmel valley market report

8/9/2019 Carmel Valley Market Report

1/11

MARKET UPDATE

Your Local

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand

Value Metrics

Report for the week ofAugust 23, 2010

Presented by Pickford Escrow - San DiegoPickford Escrow and The Escrow [email protected](858) 525-5478

SAN DIEGO, CA 921

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC


2/11

Median List Price

Median Lot Size

17.6

Percent Relisted (reset DOM)

1776

2.5

6 %

Median Number of Bathrooms

102

Inventory of Properties Listed

$ 285

Percent Flip (price increased)

6,501 - 8,000 sqft

Median House Size (sq ft)

$ 519,000

41 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

10 %

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

10 503200

912.0 45

3.0

65

87

3.0 768

104

65

83

8,001 -10,000 sqft

50

$ 419,000

62

41

768

3.5

4,501 -6,500 sqft

542.5

12364,501 -

6,500 sqft

767

$ 240,000

4.0

125

4,501 -6,500 sqft$ 629,000

4.0$ 1,149,995

32

62

1996

Inventory and days-on-market areclimbing, while the Market ActionIndex has been flat recently. Thetrends point to a weakening market.

Monday August 23, 2010

Pickford Escrow and The Escrow Firm

767

1530

2.0

The median list price in SAN DIEGO,CA this week is $519,000. The 3070

properties have been on the marketfor an average of 102 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+

==

=

SAN DIEGO,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

3070

$ 13,478,000

$ 70,000

$ 698,058

39

Trend Key:

The Market Action Index has beentrending lower for several weekswhile prices have remainedrelatively stable. If inventorycontinues to grow relative todemand however, it is likely that wewill see downward pressure onpricing.

Page 2 of 11

Single Family Home


3/11


City OverviewSAN DIEGO,


Median PriceThe market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

90-day Average7-day Average

Quartile PricesPricing trends have been lacking strong directional indication lately. Only Quartile 2 is trending higher while Quartiles 3 and 1are flat. Look to the Market Action Index for persistent changes (up or down) as a leading indicator for the significant pricechanges.

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

Page 3 of 11

Single Family Hom


4/11




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.


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.


Page 4 of 11

Single Family Hom


5/11




Market Action IndexThe SAN DIEGO market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 17.61. 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 given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

changes.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical functionof the current rate of sale versus current inventory.

Page 5 of 11

Single Family Hom


6/11




Days on MarketThe properties have been on the market for an average of 102 days. Half of the listings have come newly on the market in thepast 70 or so days.


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.


Page 6 of 11

Single Family Hom


7/11

Median List Price

Median Lot Size

17.7

Percent Relisted (reset DOM)

3275

3.5

4 %

Median Number of Bathrooms

103

Inventory of Properties Listed

$ 359

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 1,150,000

41 %

5.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

15 %

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

6 45744

843.0 10

4.0

5

111

5.0 52

53

0

9

0.50 - 1.0acre

12

$ 925,000

6

2

53

5.5

4,501 -6,500 sqft

34.5

20084,501 -

6,500 sqft

52

$ 739,000

5.0

165

6,501 -8,000 sqft$ 1,299,000

5.0$ 2,637,500

9

6

3666

Inventory has been lightening latelyand the Market Action Index has beentrending up. These are mildly positiveindications for the market.



52

2841

2.5

The median list price in SAN DIEGO,CA 92130 this week is $1,150,000. The

209 properties have been on themarket for an average of 103 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+

==

=

SAN DIEGO,

92

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

209

$ 7,695,000

$ 569,900

$ 1,473,637

11

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.

Page 7 of 11

Single Family Home


8/11


Neighborhood DetailSAN DIEGO,

92


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.


Quartile PricesIn the quartile market segments, we see the market's price weakness evident across the board. Quartiles 2, 3, and 4 have beenin price decline in recent weeks, with Quartile 1 remaining basically flat. Look to the Market Action Index as a leading indicatorof the bottom of the market.


Page 8 of 11

Single Family Hom


9/11



92


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.


Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


Page 9 of 11

Single Family Hom


10/11



92


Market Action IndexThe SAN DIEGO, 92130 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 17.70. 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.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical functionof the current rate of sale versus current inventory.

age 10 of 11

Single Family Hom


11/11



92

Monday August 23 2010

Days on MarketThe properties have been on the market for an average of 103 days. Half of the listings have come newly on the market in thepast 56 or so days.


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.


Page 11 of 11

Single Family Hom

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