Valencia CA real estate and 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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Valencia CA real estate and 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 VALENCIA, CA Powered by Altos Research LLC | | Copyright ©2005-2013 Altos Research LLC
  2. 2. Median List Price Median Lot Size 48.5 Percent Relisted (reset DOM) 2431 3.0 7 % Median Number of Bathrooms 57 Inventory of Properties Listed $ 255 Percent Flip (price increased) 4,501 - 6,500 sqft Median House Size (sq ft) $ 599,000 25 % 4.0 Market Action Index Median Number of Bedrooms Asking Price Per Square Foot 8 % 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 11 13708 283.0 36 3.0 7 84 4.0 23 22 2 7 6,501 - 8,000 sqft 33 $ 549,900 4 4 23 4.0 4,501 - 6,500 sqft 13.0 1596 4,501 - 6,500 sqft 23 $ 425,000 4.0 94 6,501 - 8,000 sqft$ 659,000 4.5$ 825,000 13 5 2784 The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market. Monday March 24, 2014 The Paris911 Team | | 661-400-1720 22 2197 2.0 The median list price in VALENCIA, CA this week is $599,000. The 91 properties have been on the market for an average of 57 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±+ == ≠≠ ≠= VALENCIA, CA City Overview Least Expensive Listing Average List Price Average Age of Listing 91 $ 1,795,000 $ 349,000 $ 643,794 20 Trend Key: Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller's market so watch for upward pricing pressure in the near future if the trend continues. Page 2 of 6 Single Family Homes in
  3. 3. The Paris911 Team | | 661-400-1720 City Overview VALENCIA, CA Monday March 24, 2014 Median Price The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend. 90-day Average7-day Average Quartile Prices Prices have generally settled at a plateau, although Quartile 1 is on a bit of an up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels. 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 VALENCIA, CA Monday March 24, 2014 Price per Square Foot The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices. 90-day Average7-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. 90-day Average7-day Average Page 4 of 6 Single Family Homes in
  5. 5. The Paris911 Team | | 661-400-1720 City Overview VALENCIA, CA Monday March 24, 2014 Market Action Index The VALENCIA market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 48.52; 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 VALENCIA, CA Monday March 24, 2014 Days on Market The properties have been on the market for an average of 57 days. Half of the listings have come newly on the market in the past 28 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