NEWPORT BEACH

8/14/2019 NEWPORT BEACH

1/26

MARKET UPDATEJennifer Pritchett

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand

Value Metrics

Report for the week ofFebruary 15, 2010

Presented by Your Orange County Real Estate ConnectionColdwell Banker Residential [email protected]

NEWPORT BEACH,

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2009 Altos Research LLC


2/26

Median List Price

Median Lot Size

16.8

Percent Relisted (reset DOM)

2736

3.0

3 %

Median Number of Bathrooms

262

Inventory of Properties Listed

$ 665

Percent Flip (price increased)

4,501 - 6,500 sqft

Median House Size (sq ft)

$ 1,895,000

29 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

11 %

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

19 34126

2722.5 45

3.0

8

261

4.0 95

231

9

3

Less than4,500 sqft

46

$ 1,675,000

6

5

95

4.0

Less than4,500 sqft

23.5

19284,501 -

6,500 sqft

95

$ 899,000

4.0

286

4,501 -6,500 sqft$ 2,450,000

4.0$ 4,442,000

13

3

3400

The Market Action Index has beentrending down lately, while inventoryis climbing. These trends imply aweakening market.

Monday February 15, 2010

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

94

2450

2.0

The median list price in NEWPORTBEACH, CA this week is $1,895,000.

The 379 properties have been on themarket for an average of 262 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+

==

=

NEWPORBEACH, C

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

379

$ 32,600,000

$ 495,000

$ 2,726,258

33

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

Page 2 of 26

Single Family Home


3/26


City OverviewNEWPO

BEACH, C


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 PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

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

Page 3 of 26

Single Family Hom


4/26


City OverviewNEWPO

BEACH, C


Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.


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 26

Single Family Hom


5/26


City OverviewNEWPO

BEACH, C


Market Action IndexThe NEWPORT BEACH market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 16.84. 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


Buyers/Sellers Cutoff

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

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.

Page 5 of 26

Single Family Hom


6/26


City OverviewNEWPO

BEACH,


Days on MarketThe properties have been on the market for an average of 262 days. Half of the listings have come newly on the market in thepast 203 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 26

Single Family Hom


7/26

Median List Price

Median Lot Size

15.9


2600

2.8

1 %


266


$ 786


Less than 4,500 sqft


$ 2,147,450

28 %

4.0

Market Action Index



12 %


Strong Buyer's

==

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


14 14000

2532.5 51

3.0

3

235

3.0 35

256

0

1

Less than4,500 sqft

48

$ 1,699,000

5

4

35

4.5

Less than4,500 sqft

13.5

1507Less than

4,500 sqft

35

$ 970,000

4.0

318

4,501 -6,500 sqft$ 2,595,000

4.0$ 3,850,000

19

3

2819

With inventory trending up but days-on-market trending down and theMarket Action Index essentially flatrecently, conditions do not seem tohave strong up or down pull.



35

2408

2.0

The median list price in NEWPORTBEACH, CA 92663 this week is

$2,147,450. The 140 properties havebeen on the market for an average of266 days.






No change



==

=

NEWPORBEACH, C

Neighborhood Detail


Average List Price


140

$ 23,900,000

$ 495,000

$ 2,723,961

36

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 26

Single Family Home


8/26


Neighborhood DetailNEWPO

BEACH, C


Median PriceDespite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's highpoint, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.


Quartile PricesIn the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 2 is on a bit ofan up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across theboard move from these levels.


Page 8 of 26

Single Family Hom


9/26



BEACH, C


Price per Square FootThis is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at firstglance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining.Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also gettingmore for their money.




Page 9 of 26

Single Family Hom


10/26



BEACH, C


Market Action IndexThe NEWPORT BEACH, 92663 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day MarketAction Index stands at 15.94. With several months of inventory available at the current sales rate, buyers should find amplechoice.


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.





age 10 of 26

Single Family Hom


11/26



BEACH,






Page 11 of 26

Single Family Hom


12/26

Median List Price

Median Lot Size

17.8


3050

3.0

4 %


251


$ 543


6,501 - 8,000 sqft


$ 1,660,000

31 %

4.0

Market Action Index



10 %


Strong Buyer's

==

+

+

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


22 15220

2782.5 40

3.0

1

219

4.0 41

224

5

0

0.25 - 0.50acre

43

$ 1,249,000

2

1

41

4.5

6,501 -8,000 sqft

13.5

1905Less than

4,500 sqft

41

$ 775,000

4.0

284

6,501 -8,000 sqft$ 1,950,000

5.0$ 3,672,500

13

1

3556

The Market Action Index has beentrending down lately, while inventoryis climbing. These trends imply aweakening market.



40

2467

2.0








No change



==

=

NEWPORBEACH, C

Neighborhood Detail


Average List Price


163

$ 32,600,000

$ 539,900

$ 2,289,610

30

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

age 12 of 26

Single Family Home


13/26



BEACH, C


Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


age 13 of 26

Single Family Hom


14/26



BEACH, C


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.




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15/26



BEACH, C









age 15 of 26

Single Family Hom


16/26



BEACH,






age 16 of 26

Single Family Hom


17/26

Median List Price

Median Lot Size

13.6


2568

3.0

3 %


268


$ 1,272




$ 3,487,500

22 %

4.0

Market Action Index



6 %


Strong Buyer's

==




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


10 04026

2333.0 12

3.0

2

289

4.0 9

272

0

1

Less than4,500 sqft

60

$ 2,600,000

0

0

9

3.5

Less than4,500 sqft

13.5

1608Less than

4,500 sqft

9

$ 1,495,000

4.0

278

Less than4,500 sqft$ 4,345,000

4.0$ 7,900,000

40

0

2700

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.



9

2492

2.0








No change



==

=

NEWPORBEACH, C

Neighborhood Detail


Average List Price


36

$ 9,900,000

$ 1,199,000

$ 4,260,306

38

Trend Key:

The market has been consistentlycool for several weeks. Demandlevel are low relative to theavailable inventory. It's a Buyer'smarket and prices continue to fall.Look for a persistent shift in MarketAction before prices plateau or beginto rise again.

age 17 of 26

Single Family Home


18/26



BEACH, C


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. All four quartiles have been inprice decline in recent weeks. Look to the Market Action Index as a leading indicator of the bottom of the market.


age 18 of 26

Single Family Hom


19/26



BEACH, C






age 19 of 26

Single Family Hom


20/26



BEACH, C









age 20 of 26

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age 21 of 26

Single Family Hom


22/26

Median List Price

Median Lot Size

10.8


2540

2.5

0 %


285


$ 1,050




$ 2,572,500

30 %

3.0

Market Action Index



12 %


Strong Buyer's

==

==

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


16 02853

1633.0 38

3.0

3

326

4.0 10

439

1

0

Less than4,500 sqft

66

$ 1,992,500

0

1

10

3.2

Less than4,500 sqft

02.5

1661Less than

4,500 sqft

10

$ 1,535,000

3.0

213

Less than4,500 sqft$ 2,749,000

3.5$ 5,772,500

10

0

2685

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



10

2367

1.5








No change



==

=

NEWPORBEACH, C

Neighborhood Detail


Average List Price


40

$ 9,995,000

$ 1,095,000

$ 3,132,998

35

Trend Key:

In terms of supply and demand, themarket is getting cooler - moresupply is coming on the marketrelative to the sales demand.However, in recent weeks priceshave been moving higher. Since it istechnically a Buyer's market, thisprice trend may be a result ofimproved quality (newer, largerhomes) of the homes being listed.Look at the descriptive statistics

age 22 of 26

Single Family Home


23/26



BEACH, C


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 most of the quartile market segments, we see prices in this zip code have stabilized recently. Only Quartile 4 shows any priceincreases in the last few weeks. Often this condition happens in markets where demand has fallen (for example, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.


age 23 of 26

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BEACH,





Single Family Hom

NEWPORT BEACH

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