Westwood & Los Angeles 11 Page Detailed Market Report from -

8/4/2019 Westwood & Los Angeles 11 Page Detailed Market Report from - http://www.ChristopheChoo.com

1/11

MARKET UPDATEChristophe Choo's

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand

Value Metrics

Report for the week ofSeptember 05, 2011

Presented by Christophe Choo Real Estate Group - Locally Known. GloballyConnected.Christophe Choo Real Estate Groupwww.ChristopheChoo.com - [email protected](310)777-6342

LOS ANGELES, 900

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2/11

Median List Price

Median Lot Size

18.1

Percent Relisted (reset DOM)

1414

2.0

6 %

Median Number of Bathrooms

150

Inventory of Properties Listed

$ 229

Percent Flip (price increased)

4,501 - 6,500 sqft

Median House Size (sq ft)

$ 315,000

36 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

12 %

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

61 402744

1592.0 86

2.0

76

140

3.0 1076

165

75

63

6,501 -8,000 sqft

86

$ 240,000

80

49

1077

3.0

4,501 -6,500 sqft

622.0

10454,501 -

6,500 sqft

1076

$ 155,000

3.0

135

4,501 -6,500 sqft$ 490,000

4.0$ 1,300,000

75

56

1510

The Market Action index has beentrending down lately, while days-on-market is climbing, providing mostlybearish signs for the market.

Monday September 5, 2011

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

1076

1284

1.0

The median list price in LOS ANGELES,CA this week is $315,000. The 4305

properties have been on the marketfor an average of 150 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+

==

=

LOS ANGELES,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

4305

$ 125,000,000

$ 49,900

$ 850,087

72

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 11

Single Family Home


3/11


City OverviewLOS ANGELES,


Median PriceDespite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.

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 11

Single Family Hom


4/11




Price per Square FootWhile prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strengthin a market, larger homes are coming more available and buyers are tending to get more home for their money.


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


Page 4 of 11

Single Family Hom


5/11




Market Action IndexThe LOS ANGELES market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 18.13. 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 150 days. Half of the listings have come newly on the market in thepast 98 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

16.3

Percent Relisted (reset DOM)

3046

3.5

5 %

Median Number of Bathrooms

90

Inventory of Properties Listed

$ 628

Percent Flip (price increased)

6,501 - 8,000 sqft

Median House Size (sq ft)

$ 1,747,000

28 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

2 %

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

76 05435

943.2 79

3.0

0

90

3.0 10

72

0

0

0.25 - 0.50acre

72

$ 1,495,000

0

0

10

5.5

6,501 -8,000 sqft

03.5

20526,501 -

8,000 sqft

10

$ 1,292,000

4.5

105

8,001 -10,000 sqft$ 1,945,000

5.0$ 4,447,500

76

1

3280

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.



10

2697

2.2

The median list price in LOS ANGELES,CA 90024 - Westwood this week is

$1,747,000. The 40 properties havebeen on the market for an average of90 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+

==

=

LOS ANGELES,90024 - Westwo

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

40

$ 27,500,000

$ 990,000

$ 3,626,150

69

Trend Key:

Home sales have been exceedingnew inventory for several weeks.Since this is a Buyer's market pricesare not yet moving higher as excessinventory is consumed. However, asthe supply and demand trendscontinue, the market moves into theSeller's zone, and we are likely tosee upward pressure on pricing.

Page 7 of 11

Single Family Home


8/11


Neighborhood DetailLOS ANGELES,

90024 - Westwo


Median PriceThis week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand willbe reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.


Quartile PricesIn the quartile market segments, we see while the lower-half of the market has seen negative price pressures lately, prices inthe upper-half of the market have been mixed. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1and 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.


Page 8 of 11

Single Family Hom


9/11



90024 - Westwo


Price per Square FootWe're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actuallyincreasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.


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



90024 - Westwo


Market Action IndexThe LOS ANGELES, 90024 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 16.26. 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



90024 - Westwo

Monday September 5 2011

Days on MarketThe properties have been on the market for an average of 90 days. Half of the listings have come newly on the market in thepast 77 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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