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Transcript of Downtown Market Report
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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
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8/9/2019 Downtown Market Report
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
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8/9/2019 Downtown Market Report
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Pickford Escrow and The Escrow Firm
City OverviewSAN DIEGO,
Monday August 23, 2010
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
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8/9/2019 Downtown Market Report
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Pickford Escrow and The Escrow Firm
City OverviewSAN DIEGO,
Monday August 23, 2010
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.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.
90-day Average7-day Average
Page 4 of 11
Condos & Townhom
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8/9/2019 Downtown Market Report
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Pickford Escrow and The Escrow Firm
City OverviewSAN DIEGO,
Monday August 23, 2010
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
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
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8/9/2019 Downtown Market Report
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Pickford Escrow and The Escrow Firm
City OverviewSAN DIEGO,
Monday August 23, 2010
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.
90-day Average7-day Average
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 6 of 11
Condos & Townhom
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8/9/2019 Downtown Market Report
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.
Monday August 23, 2010
Pickford Escrow and The Escrow Firm
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
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8/9/2019 Downtown Market Report
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Pickford Escrow and The Escrow Firm
Neighborhood DetailSAN DIEGO,
92
Monday August 23, 2010
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.
90-day Average7-day Average
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 8 of 11
Condos & Townhom
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8/9/2019 Downtown Market Report
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Pickford Escrow and The Escrow Firm
Neighborhood DetailSAN DIEGO,
92
Monday August 23, 2010
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.
90-day Average7-day Average
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.
90-day Average7-day Average
Page 9 of 11
Condos & Townhom
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8/9/2019 Downtown Market Report
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Pickford Escrow and The Escrow Firm
Neighborhood DetailSAN DIEGO,
92
Monday August 23, 2010
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
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
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8/9/2019 Downtown Market Report
11/11
Pickford Escrow and The Escrow Firm
Neighborhood DetailSAN DIEGO,
92
Monday August 23, 2010
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.
90-day Average7-day Average
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 11 of 11
Condos & Townhom