fullerton california real estate market update

8/7/2019 Fullerton California Real Estate Market Update

1/22

Current prices for homes on the mark

Trends in priciCurrent levels of supply and dema

Value metri

market updat

Adam Brett - Eric Urba

FULLERTO

Sunday February 6, 20

Report for the week

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2/22

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

The median single family home price

in FULLERTON this week is $499,950.

The 418 homes have been on the

market for an average of 162 days.

THIS WEEK

Most Expensive Listing

Least Expensive Listing

Median List Price

Average List Price

Real-Time Market Profile Trend

Total Inventory

$ 499,950

$ 577,315

$ 4,400,000

$ 160,000

418

162Average Days on Market

Asking Price per Square Foot $ 269

28Absorbed This Week*

Percent of Properties with Price Decrease 35 %

Percent Relisted (reset DOM) 10 %

Percent Flip (price increased) 8 %

City Overview FULLERTON

6,501 - 8,000 sq ft

Altos Research Value Statistics

Market Action Index

Median Number of Bedrooms

Median Number of Bathrooms

Median House Size (sq ft)

Median Lot Size

Median Age

1,861

3.8

2.0

49

16Cold! Buyer's Market

Altos Research calculates the Market Action Index which measures available supplyrelative to the current level of demand. Index value above 30 indicates conditions favorthe seller. See the section below for full details.

Inventory has been decreasing lately

but the Market Action Index is fallingalso. With days-on-market climbing,

these are relatively negative

implications for the market.

To get a tightly targeted understanding

of homes in the market, we break eachlocale into quartiles. Each quartile is

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 homes3,000 4.0 3.0 23 104 4 88,001 - 10,000

sq ft$ 838,5001 170

Upper-middle 25% of homes2,123 4.0 3.0 38 104 4 36,501 - 8,000

sq ft$ 579,0002 161

Lower-middle 25% of homes1,516 3.0 2.0 56 105 9 86,501 - 8,000

sq ft$ 399,5003 152

Least expensive 25% of homes1,213 3.0 2.0 57 105 4 94,501 - 6500

sq ft$ 309,9004 166

We'll refer to the quartiles in the trend

graphs below.

Adam Brett - Eric Urban Market Update for FULLERTON


3/22


4/22


The market plateau is seen across the

price and value. The price per square

foot and median list price have both

been reasonably stagnant. Watch the

Market Action Index for persistent

changes as a leading indicator beforethe market moves from these levels.

PRICE AND VALUE

INVENTORY

Inventory has been falling in recent

weeks. Note that declining inventory

alone does not signal a strengthening

market. Look to the Market Action

Index and Days on Market trends to

gauge whether buyer interest is

changing with the available supply.



5/22


The FULLERTON market is currently

quite strongly in the Buyer's Market

zone (below 30). The 90-day Market

Action Index stands at 16. With several

months of inventory available at the

current sales rate, buyers should find

ample choice.

The Market Action Index has been

trending lower for several weeks while

prices have remained relatively stable.

If inventory continues to grow relative

to demand however, it is likely that wewill see downward 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 atthe 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 indexfalls into the Buyers Market zone for a long period, prices are likely in for a downwardcorrection.

Not surprisingly given the overall

Market Action Index, all quartiles are in

the Buyer's Market zone with several

months of inventory given the current

rate of demand for homes in the

quartile. Watch the quartile for change

before the overall market shifts. Often

one end of the market (e.g. the low end)

will improve and signal a strengtheningmarket before the whole group changes

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 the

market for an average of 162 days. Half

of the listings have come newly on the

market in the past 126 or so days.

DOM PER QUARTILE

It is not uncommon for the higher

priced homes in an area to take longer

to sell than those in the lower

quartiles.



7/22


92835Neighborhood DetailFULLERTON



Median List Price

Average List Price


Total Inventory

$ 627,000

$ 771,877

$ 3,590,000

$ 265,000

92



4Absorbed This Week


in FULLERTON 92835 this week is

$627,000.

THIS WEEK




Median Lot Size

Median Age

2,341

4.0

2.9

44Altos Research Value Statistics

8,001 - 10,000 sq ft

Market Action Index 14Cold! Buyer's Market

Inventory has been tightening and

days-on-market increasing recently.


basically flat, not providing strongindication for market conditions.

PRICE

Again this week in this zip code we see

a downward notch for prices. Pricing

has been weak in recent weeks and

versus their absolute-high level. At thispoint, we will be looking for a persisten

upward shift in the Market Action

Index as a leading indicator for a

trough in prices.



8/22


PRICE PER QUARTILE

In the quartile market segments, we see

prices across the quartiles of this zip

code not tightly correlated recently.

Prices in Quartile 1 and 4 have been

mixed recently, while the rest of the

market is trending downward. Look to astrong, persistent up shift in the Marke

Action Index as a leading indicator of

the trough in the market.

QUARTILESCharacteristics per Quartile

Bed BathMed. SqftMed.Age Inven. New


Avg.DoM

Most expensive 25% of homes0.25 - 0.50acre3,632 4.0 5.0 13 23 1 1$ 1,099,0001 201


sq ft$ 715,9992 142


sq ft$ 562,0003 196

Least expensive 25% of homes1,807 4.0 2.0 45 23 2 16,501 - 8,000

sq ft$ 469,9004 165

The market's downward trends are

shared across both price and value.

People are recently placing less value

on homes (you can see the recent

declines in price per square foot as

evidence.) Look for significant changes

in the Market Action Index as a

precursor to price and value changes,

possibly as inflection points for good

investment opportunities.

PRICE AND VALUE



9/22


INVENTORY

Inventory has been climbing lately with

92 properties available this week. Note

that rising inventory alone does not

signal a weakening market. Look to the

Market Action Index to gauge whether

buyer interest is keeping up withavailable supply.

The FULLERTON 92835 is quite strongly

in the Buyer's Market zone. The 90-day

Market Action Index stands at 14. With

several months of inventory availableat the current sales rate, buyers should

find ample choice.

MARKET ACTION INDEX


Not surprisingly, all quartiles are in theBuyer's Market zone with several


levels of demand. Watch the quartiles

for changes before the overall market

shifts.



10/22


DAYS ON MARKETThe properties have been on the marke

for an average of 176 days. Half of the

listings have come newly on the market

in the past 140 or so days. Watch the 90

day DOM trend for signals of a changin

market.

DAYS ON MARKET

It is not uncommon for

the higher priced homes in an area

(Quartiles 1 and 2) to take longer to

sell than those in the lower quartiles.

1Adam Brett - Eric Urban Market Update for FULLERTON


11/22





Median List Price

Average List Price


Total Inventory

$ 419,450

$ 495,705

$ 1,150,000

$ 190,000

182



16Absorbed This Week



$419,450.

THIS WEEK




Median Lot Size

Median Age

1,645

3.4

2.0


6,501 - 8,000 sq ft






PRICE

This week prices in this zip code

bumped up a bit but the trend of recent

weeks is generally downward. A pickup

in demand will be reflected in theMarket Action Index, so watch that

chart to try to identify a trough in the

market.



12/22


PRICE PER QUARTILE


prices in this zip code generally settled

at a plateau, although Quartile 2 has

been trending a bit downward in recen

weeks. We'll need to see a persistent

shift in the Market Action Index beforewe see prices across the board move

from these levels.




Avg.DoM


sq ft$ 729,0001 211


sq ft$ 559,0002 149


sq ft$ 359,9003 161


sq ft$ 302,5004 175

Despite recently falling prices, the price

per square foot has stayed reasonably

flat. This implies that there's a portion

of the market being priced at a

premium. You can investigate this

condition in the quartile details.

PRICE AND VALUE



13/22


INVENTORY

Inventory has been steady around thes

levels in recent weeks with 182

properties currently available.





find ample choice.

MARKET ACTION INDEX






shifts.



14/22







market.

DAYS ON MARKET







15/22





Median List Price

Average List Price


Total Inventory

$ 348,900

$ 393,319

$ 875,000

$ 235,000

56



3Absorbed This Week



$348,900.

THIS WEEK




Median Lot Size

Median Age

1,346

3.0

1.9


6,501 - 8,000 sq ft






PRICE

We continue to see prices in this zip

code bouncing around this plateau.

Look for a persistent up-shift in the

Market Action Index before we seeprices move from these levels.



16/22


PRICE PER QUARTILE


prices in this zip code generally settled

at a plateau, although Quartile 2 has

been trending a bit downward in recen

weeks. We'll need to see a persistent

shift in the Market Action Index beforewe see prices across the board move

from these levels.




Avg.DoM


sq ft$ 574,4001 104


sq ft$ 372,0002 164


sq ft$ 317,0003 166


sq ft$ 272,0004 156

The market plateau is seen across the

price and value. The price per square

foot and median list price have both

been reasonably stagnant. Watch the

Market Action Index for persistent

changes as a leading indicator before

the market moves from these levels.

PRICE AND VALUE



17/22


INVENTORY











find ample choice.

MARKET ACTION INDEX






shifts.



18/22







market.

DAYS ON MARKET







19/22





Median List Price

Average List Price


Total Inventory

$ 507,500

$ 659,783

$ 4,400,000

$ 160,000

88



5Absorbed This Week



$507,500.

THIS WEEK




Median Lot Size

Median Age

1,890

3.0

2.2


6,501 - 8,000 sq ft


Inventory has been decreasing lately

but the Market Action Index is falling

also. With days-on-market climbing,

these are relatively negativeimplications for the market.

PRICE

Again this week in this zip code we see

a downward notch for prices. Pricing

has been weak in recent weeks and

versus their absolute-high level. At thispoint, we will be looking for a persisten

upward shift in the Market Action

Index as a leading indicator for a

trough in prices.



20/22


PRICE PER QUARTILE


prices across the quartiles of this zip

code not tightly correlated recently.

Prices in Quartile 1 and 4 have been

mixed recently, while the rest of the

market is trending downward. Look to astrong, persistent up shift in the Marke

Action Index as a leading indicator of

the trough in the market.




Avg.DoM

Most expensive 25% of homes0.25 - 0.50acre3,054 4.0 4.0 34 22 1 0$ 842,4501 113


sq ft$ 569,5002 154


sq ft$ 424,9503 175

Least expensive 25% of homes1,292 3.0 2.0 56 22 0 16,501 - 8,000

sq ft$ 329,5004 102

The market's downward trends are

shared across both price and value.

People are recently placing less value

on homes (you can see the recent

declines in price per square foot as

evidence.) Look for significant changes

in the Market Action Index as a

precursor to price and value changes,

possibly as inflection points for good

investment opportunities.

PRICE AND VALUE



21/22


INVENTORY











find ample choice.

MARKET ACTION INDEX






shifts.



22/22







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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