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Canyon Country real estate and housing market update 2014-083


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We are a real estate team serving the greater Los Angeles Cities. Our Monday market update reports are about the market data and housing market intel for the Santa Clarita Valley cities. Our Team name is known as and we are REMAX of Valencia CA realtors, that site is located at Reach out to us and our market updates cover the Santa Clarita Valley markets, including Acton, Castaic, Canyon Country, Saugus, Santa Clarita, Stevenson Ranch and Valencia. Be safe - search well and thanks for checking out our real estate and housing market reports.

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Canyon Country real estate and housing market update 2014-083

  1. 1. MARKET UPDATE Paris911 Intel Reports · 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 March 24, 2014 · Presented by Connor and Paris MacIvor / REMAX of Santa Clarita CA REMAX of Valencia CA / The Paris911 Team / 661-400-1720 CANYON COUNTRY, CA Powered by Altos Research LLC | | Copyright ©2005-2013 Altos Research LLC
  2. 2. Median List Price Median Lot Size 52.3 Percent Relisted (reset DOM) 2360 3.0 1 % Median Number of Bathrooms 77 Inventory of Properties Listed $ 224 Percent Flip (price increased) 6,501 - 8,000 sqft Median House Size (sq ft) $ 512,000 28 % 4.0 Market Action Index Median Number of Bedrooms Asking Price Per Square Foot 9 % Percent of Properties with Price Decrease Strong Seller's ≠≠ == ≠≠ == == Altos Research Value Statistics Most Expensive Listing Average Days on Market (DoM) Bottom/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 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 25 33718 732.0 42 4.0 3 66 4.0 19 42 5 3 0.25 - 0.50 acre 47 $ 435,000 8 2 19 3.8 8,001 - 10,000 sqft 33.0 1262 6,501 - 8,000 sqft 19 $ 379,900 4.0 127 6,501 - 8,000 sqft$ 549,900 4.0$ 959,994 10 7 2871 Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions. Monday March 24, 2014 The Paris911 Team | | 661-400-1720 18 1960 2.0 The median list price in CANYON COUNTRY, CA this week is $512,000. The 75 properties have been on the market for an average of 77 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±+ == ≠≠ ≠= CANYON COUNTRY, CA City Overview Least Expensive Listing Average List Price Average Age of Listing 75 $ 3,900,000 $ 199,000 $ 674,401 31 Trend Key: The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend. Page 2 of 6 Single Family Homes in
  3. 3. The Paris911 Team | | 661-400-1720 City Overview CANYON COUNTRY, CA Monday March 24, 2014 Median Price Despite this week's down tic, the price trend remains upward for several weeks. A persistent drop of the Market Action Index into the Buyer's zone will be a leading indicator of the price strength subsiding. 90-day Average7-day Average Quartile Prices Prices in most of the market have been trending higher in recent weeks. However the high-end of the market (Quartile 1) is showing some weakness. If this trend continues, expect downward price pressures on the rest of the market to follow. First/Top Second/Upper Third/Lower Fourth/Bottom Page 3 of 6 Single Family Homes in
  4. 4. The Paris911 Team | | 661-400-1720 City Overview CANYON COUNTRY, CA Monday March 24, 2014 Price per Square Foot This is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at first glance. 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 getting more for their money. 90-day Average7-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the 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 4 of 6 Single Family Homes in
  5. 5. The Paris911 Team | | 661-400-1720 City Overview CANYON COUNTRY, CA Monday March 24, 2014 Market Action Index The CANYON COUNTRY market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 52.27; indicating very little supply relative to the demand. Buyers/Sellers Cutoff90-day Average Market Action Index per Quartile Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group. 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. 6. The Paris911 Team | | 661-400-1720 City Overview CANYON COUNTRY, CA Monday March 24, 2014 Days on Market The properties have been on the market for an average of 77 days. Half of the listings have come newly on the market in the past 42 or so days. 90-day Average7-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