Saugus Homes California real estate housing market
 

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Saugus Homes California real estate housing market Document Transcript

  • 1. Paris911 Intel Reports MARKET UPDATE SAUGUS, CA · Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics · Report for the week of September 01, 2014 · Presented by Connor and Paris MacIvor / REMAX of Santa Clarita CA REMAX of Valencia CA / The Paris911 Team www.Paris911.com / remax@paris911.com 661-400-1720 Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2014 Altos Research LLC
  • 2. The Paris911 Team | www.Paris911.com | 661-400-1720 This Week Real-Time Market Profile Trend Median List Price Average List Price Asking Price Per Square Foot Average Days on Market (DoM) Most Expensive Listing Median Lot Size $ 529,633 0 % 48.7 Percent Relisted (reset DOM) 1720 2.5 Median Number of Bedrooms Median Number of Bathrooms 29 Inventory of Properties Listed $ 284 Percent Flip (price increased) 0.25 - 0.50 acre Median House Size (sq ft) $ 477,450 33 % 4.0 Market Action Index 0 % Percent of Properties with Price Decrease Strong Seller's == == ≠ == ±+ Altos Research Value Statistics Inventory is up and Market Action is trending down recently. While days-on- market appears to be trending lower, the overall conditions are weakening a bit. Top/First Upper/Second Lower/Third Bottom/Fourth The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer. Supply and Demand Characteristics per Quartile $ 799,000 4.0 == ≠≠ = ≠ ±+ No change Slight upward trend Slight downward trend Strong upward trend Strong downward trend 2781 8 1 0 0 2.5 32 10 3.5 1 84 3.5 2 24 0 0 0.25 - 0.50 acre 22 $ 477,450 1 2 4.0 6,501 - 8,000 sqft 2.0 0 1545 5.0 - 10 acres 1 $ 417,000 4.0 21 0.25 - 0.50 $ 589,900 acre 9 0 2750 Monday September 1, 2014 1677 2.5 The median list price in SAUGUS, CA this week is $477,450. The 6 properties have been on the market for an average of 29 days. Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM SAUGUS, CA City Overview Least Expensive Listing Average Age of Listing 6 $ 799,000 $ 415,000 21 Trend Key: The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller's Market zone and prices have been moving upward as evidence. Page 2 of 6 Single Family Homes in
  • 3. City Overview The Paris911 Team | www.Paris911.com | 661-400-1720 SAUGUS, CA Monday September 1, 2014 Median Price Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend. 7-day Average 90-day Average Quartile Prices Prices in most of the market have stabilized recently. Only Quartile 4 shows any price increases 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. First/Top Second/Upper Third/Lower Fourth/Bottom Page 3 of 6 Single Family Homes in
  • 4. City Overview The Paris911 Team | www.Paris911.com | 661-400-1720 SAUGUS, CA Price per Square Foot We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location Monday September 1, 2014 variables. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 7-day Average 90-day Average Page 4 of 6 Single Family Homes in
  • 5. City Overview The Paris911 Team | www.Paris911.com | 661-400-1720 SAUGUS, CA Monday September 1, 2014 Market Action Index The SAUGUS market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 48.66; indicating very little supply relative to the demand. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile The higher end of the market (Quartiles 1 and 2) is in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. The low-end of the market is where buyers are focusing more of their attention. Notice that Quartiles 1 and 2 (the higher half of the market) have a Market Action Index below 30 (Buyer's Market). 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 characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. Page 5 of 6 Single Family Homes in
  • 6. City Overview The Paris911 Team | www.Paris911.com | 661-400-1720 SAUGUS, CA Monday September 1, 2014 Days on Market The properties have been on the market for an average of 29 days. Half of the listings have come newly on the market in the past 21 or so days. 7-day Average 90-day Average Days on Market 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. First/Top Second/Upper Third/Lower Fourth/Bottom Page 6 of 6 Single Family Homes in