Downtown Market Report

8/9/2019 Downtown Market Report

1/11

MARKET UPDATE

Your Local

Current Real Estate Market Conditions for Condos & Townhomes

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 92

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


2/11

Median List Price

16.6

Percent Relisted (reset DOM)

1056

2.0

7 %

Median Number of Bathrooms

125

Inventory of Properties Listed

$ 279

Percent Flip (price increased)

Median House Size (sq ft)

$ 289,000

35 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

9 %

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

8 271509

1192.0 23

2.0

48

109

2.0 743

128

56

50

29

$ 230,000

46

43

743

2.5

592.0

760

742

$ 139,000

2.0

143

$ 357,500

2.0$ 620,500

19

38

1145

With inventory and days-on-marketbasically unchanged and the MarketAction Index decreasing, the marketis not sending strong directional signalfor the near-term outlook.

Monday August 23, 2010

Pickford Escrow and The Escrow Firm

742

934

1.0

The median list price in SAN DIEGO,CA this week is $289,000. The 2970

properties have been on the marketfor an average of 125 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price 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

2970

$ 8,695,000

$ 48,000

$ 396,393

21

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

Condos & Townhome


3/11


City OverviewSAN DIEGO,


Median PriceThe market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability ofthis trend.

90-day Average7-day Average

Quartile PricesPrices have been mixed-to-negative trends in recent weeks. Quartile 4 is down, while the rest of the market is basically flat.Look to the Market Action Index to determine if this plateau is the stage for a prolonged price decline.

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

Page 3 of 11

Condos & Townhom


4/11




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.


Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.


Page 4 of 11

Condos & Townhom


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 16.60. 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

Condos & Townhom


6/11




Days on MarketThe properties have been on the market for an average of 125 days. Half of the listings have come newly on the market in thepast 84 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

Condos & Townhom


7/11

Median List Price

14.8

Percent Relisted (reset DOM)

1110

2.0

7 %

Median Number of Bathrooms

163

Inventory of Properties Listed

$ 420

Percent Flip (price increased)

Median House Size (sq ft)

$ 459,900

35 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

13 %

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

5 21738

1501.5 5

1.0

11

163

1.0 151

149

8

10

6

$ 350,000

7

10

151

2.0

72.0

693

150

$ 219,000

2.0

190

$ 575,000

2.0$ 1,059,500

5

13

1270

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.



150

957

1.0

The median list price in SAN DIEGO,CA 92101 this week is $459,900. The

602 properties have been on themarket for an average of 163 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price 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

602

$ 8,695,000

$ 100,000

$ 643,500

9

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.

Page 7 of 11

Condos & Townhome


8/11


Neighborhood DetailSAN DIEGO,

92


Median PriceThe market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch theMarket Action Index to predict how long this trend will last.


Quartile PricesIn the quartile market segments, we see prices in the individual quartiles without strong directional correlation lately. Quartiles2 and 4 have been in price decline in recent weeks, with Quartiles 1 and 3 remaining basically flat. Look to the Market ActionIndex as a leading indicator of the bottom of the market.


Page 8 of 11

Condos & Townhom


9/11



92


Price per Square FootIn a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that newhomes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.


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

Condos & Townhom


10/11



92


Market Action IndexThe SAN DIEGO, 92101 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 14.79. 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

Condos & Townhom


11/11



92


Days on MarketThe properties have been on the market for an average of 163 days. Half of the listings have come newly on the market in thepast 119 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

Condos & Townhom

Documents

Downtown Market Report