Sample Market Report from Less Than Six Percent


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Sample Market Report from Less Than Six Percent

  1. 1. LessThan6PercentMARKET UPDATE GILROY, CA 95020· 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 April 01, 2013· Presented by max@lessthan6percent.comLessThan6Percentwww.LessThan6Percent.com1-800-692-5010 Powered by Altos Research LLC | | Copyright ©2005-2010 Altos Research LLC
  2. 2. Neighborhood Detail Single Family Homes in LessThan6Percent | 1-800-692-5010 GILROY, CA 95020 This Week Real-Time Market Profile Trend The median list price in GILROY, CA Median List Price $ 564,450 == 95020 this week is $564,450. The 126 Average List Price $ 782,583 properties have been on the market Asking Price Per Square Foot $ 250 ±+ for an average of 111 days. Average Days on Market (DoM) 111 ±+ Inventory of Properties Listed 126 ±+ Most Expensive Listing $ 5,195,000 With inventory and days-on-market Least Expensive Listing $ 59,000 basically unchanged and the Market Average Age of Listing 32 Action Index decreasing, the market Percent of Properties with Price Decrease 10 % is not sending strong directional Percent Relisted (reset DOM) n/a signal for the near-term outlook. Percent Flip (price increased) 11 % Median House Size (sq ft) 2097 Median Lot Size 6,501 - 8,000 sqft Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 2.0 Altos Research Value Statistics In the last few weeks the market has Market Action Index Sellers Advantage 41.9 ≠≠ achieved a relative stasis point in The Market Action Index answers the question "Hows the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 terms of sales to inventory. implies a sellers advantage. Below 30, conditions give the advantage to the However, inventory is sufficiently buyer. low to keep us in the Sellers Market zone so watch changes in the MAI. If Trend Key: == Strong upward trend ≠≠ Strong downward trend the market heats up, prices are ±+ No change = Slight upward trend ≠ Slight downward trend likely to resume an upward climb. Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM 8,001 - Top/First $ 1,290,000 3986 10,000 sqft 4.0 3.0 33 31 1 0 199 Most expensive 25% of properties 6,501 -Upper/Second $ 699,000 3081 8,000 sqft 4.0 3.0 10 31 1 1 83 Upper-middle 25% of properties 6,501 - Lower/Third $ 450,000 1870 8,000 sqft 4.0 2.0 11 32 3 3 65 Lower-middle 25% of properties 4,501 -Bottom/Fourth $ 299,000 1312 6,500 sqft 3.0 2.0 41 32 2 1 100 Least expensive 25% of propertiesPage 2 of 6 Monday April 1, 2013
  3. 3. Single Family Homes in Neighborhood Detail LessThan6Percent | 1-800-692-5010 GILROY, CA 95020 Median Price Despite this weeks down tic, price trends in this zip code have generally been moving up lately. We are below the markets high point, and well investigate the Market Action Index later on to see if we expect this weeks blip to become a downward trend. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see prices in this zip code 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/BottomPage 3 of 6 Monday April 1, 2013
  4. 4. Single Family Homes in Neighborhood Detail LessThan6Percent | 1-800-692-5010 GILROY, CA 95020 Price per Square Foot In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been relatively steady around these levels in recent weeks. 7-day Average 90-day AveragePage 4 of 6 Monday April 1, 2013
  5. 5. Single Family Homes in Neighborhood Detail LessThan6Percent | 1-800-692-5010 GILROY, CA 95020 Market Action Index The GILROY, 95020 market is currently in the Sellers Advantage zone (greater than 30). The 90-day Market Action Index stands at 41.87 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all segments in this zip code 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 Monday April 1, 2013
  6. 6. Single Family Homes in Neighborhood Detail LessThan6Percent | 1-800-692-5010 GILROY, CA 95020 Days on Market The properties have been on the market for an average of 111 days. Half of the listings have come newly on the market in the past 38 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/BottomPage 6 of 6 Monday April 1, 2013