christ op he choo market update [condo]_ca_los angeles_90067

8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067

1/10

Current prices for condominiums, townhomes, TICs on the mark

Trends in priciCurrent levels of supply and dema

Value metri

LOS ANGELE

900

market updat

Christophe Choo'

Sunday October 24, 20

Report for the week

Christophe Choo Real Estate Gro

www.ChristopheChoo.com - [email protected]

Presented by Christophe Choo Real Estate Group - Locally Known. Globa

(310)777-63

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2/10

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

The median condominium price in

LOS ANGELES this week is $465,000.

The 1928 condos have been on the

market for an average of 152 days.

THIS WEEK

Most Expensive Listing

Least Expensive Listing

Median List Price

Average List Price

Real-Time Market Profile Trend

Total Inventory

$ 465,000

$ 625,589

$ 19,000,000

$ 60,000

1928

152Average Days on Market

Asking Price per Square Foot $ 365

256Absorbed This Week

Percent of Properties with Price Reductions 40 %

Percent Relisted (reset DOM) 9 %

Percent Flip (price increased) 5 %

City Overview LOS ANGELES

Altos Research Value Statistics

Market Action Index

Median Number of Bedrooms

Median Number of Bathrooms

Median Size (sq ft)

Median Age

1,269

2.0

2.0

23

18Cold! Buyer's Market

Altos Research calculates the Market Action Index which measures available supplyrelative to the current level of demand. Index value above 30 indicates conditions favorthe seller. See the section below for full details.

With inventory and days-on-market

basically unchanged and the MarketAction Index increasing, the market

isn't sending strong directional signal

for the near-term outlook.

To get a tightly targeted understanding

of properties on the market, we break

each locale into quartiles. Each quartile

is 25% of the condos listed.

QUARTILES

Characteristics per Quartile

Last Month's Trend Last Quarter's Trend

Trend Key

No Clear Monthly/Quarterly Trend

Bed BathMed. SqftMed.Age Inven. New

Ab-sorbedMedian PriceQuartile

Avg.DoM

*Metric "Absorbed this Week" covers properties sold and those taken off the market for other reasons.Since sales sometimes take months to close, it is impossible to discern in real-time exactly which propertiessold.

Most expensive 25% of condos1,883 2.0 2.5 18 482 15 50$ 849,5001 167

Upper-middle 25% of condos1,420 2.0 2.0 21 482 14 55$ 543,5002 134

Lower-middle 25% of condos1,108 2.0 2.0 27 482 22 80$ 379,0003 155

Least expensive 25% of condos860 1.0 1.0 35 482 30 71$ 220,0004 156

We'll refer to the quartiles in the trend

graphs below.

2Christophe Choo's Market Update for LOS ANGELES


3/10


PRICE

The market seems to have paused

around this plateau. The Market Action

Index is a good leading indicator for the

durability of this trend.

QUARTILE PRICES

Price weakness is evident almost across

the board. Quartiles 2, 3, and 4 have

been in price decline in recent weeks,

with Quartile 1 remaining basically flat

Look to the Market Action Index as a

leading indicator of the bottom of the

market.

Often, we find insights by watching

pricing trends within the quartile

segments.

Christophe Choo's Market Update for LOS ANGELES


4/10


The market plateau is seen across the

price and value. The price per square

foot and median list price have both

been reasonably stagnant. Watch the

Market Action Index for persistent

changes as a leading indicator beforethe market moves from these levels.

PRICE AND VALUE

INVENTORY

Inventory has been relatively steady

around these levels in recent weeks.



5/10


The condo market in LOS ANGELES is

currently quite strongly in the Buyer's

zone (below 30). The 90-day Market

Action Index stands at 18. With several

months of inventory available at the

current sales rate, buyers should find

ample choice.

The market has shown some evidence o

slowing recently. Both prices and

inventory levels are relatively

unchanged in recent weeks. Watch the

Market Action Index for changes as itcan be a leading indicator for price

changes.

The Market Action Index (MAI) illustrates the balance between supply and demand using astatistical function of the current rate of sale versus current inventory.

An MAI value greater than 30 typically indicates a Seller's Market (a.k.a. "Hot Market")because demand is high enough to quickly gobble up available supply. A hot market willtypically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "ColdMarket") where the inventory of already-listed homes is sufficient to last several months atthe current rate of sales. A cold market will typically cause prices to fall.

MARKET ACTION INDEXProperty prices are a function of supply and demand, and market conditions can becharacterized by analyzing those factors. Watch this index for sustained changes: if the indexfalls into the Buyers Market zone for a long period, prices are likely in for a downwardcorrection.

Not surprisingly given the overall

Market Action Index, all quartiles are in

the Buyer's Market zone with several

months of inventory given the current

rate of demand for homes in the

quartile. Watch the quartile for change

before the overall market shifts. Often

one end of the market (e.g. the low end)

will improve and signal a strengtheningmarket before the whole group changes

The quartiles can help you answer the question, "How hot is the market for homes in my pricerange?"

MARKET ACTION QUARTILES



6/10


DAYS ON MARKET (DOM)

The properties have been on the

market for an average of 138 days. Half

of the listings have come newly on the

market in the past 98 or so days.

DOM 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.



7/10


90067Neighborhood DetailLOS ANGELES

Most Expensive Listing

Least Expensive Listing

Median List Price

Average List Price

Real-Time Market Profile Trend

Total Inventory

$ 1,195,000

$ 1,751,220

$ 14,300,000

$ 270,000

83

171Average Days on Market

Asking Price per Square Foot $ 616

5Absorbed This Week

The median condominium price in

LOS ANGELES 90067 this week is

$1,195,000.

THIS WEEK

Median Number of Bedrooms

Median Number of Bathrooms

Median Size (sq ft)

Median Age

1,767

2.0

2.4

35

Altos Research Value StatisticsMarket Action Index 16Cold! Buyer's Market

With inventory trending up but days-

on-market and the Market Action Inde

essentially flat recently, conditions

don't seem to have strong up or downpull.

PRICE

We continue to see prices in this zip

code bouncing around this plateau.

Look for a persistent up-shift in the

Market Action Index before we seeprices move from these levels.



8/10


PRICE PER QUARTILE

In the quartile market segments, we see

price for this zip code in general with

price stagnation in recent weeks.

Quartile 4 is down, while the rest of the

market is basically flat. Look to the

Market Action Index to determine if thiplateau is the stage for a prolonged

price decline.

QUARTILESharacteristics per QuartileBed BathMed. Sqft

Med.Age Inven. New

Ab-sorbedMedian PriceQuartile

Avg.DoM

Most expensive 25% of condos3,214 3.0 3.5 0 20 0 0$ 3,350,0001 203

Upper-middle 25% of condos2,357 2.0 2.5 30 21 0 0$ 1,495,0002 175

Lower-middle 25% of condos1,580 2.0 2.0 30 21 1 2$ 798,0003 148

Least expensive 25% of condos1,018 2.0 2.0 44 21 1 3$ 465,0004 161

INVENTORYInventory 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.



9/10


The LOS ANGELES 90067 is quite

strongly in the Buyer's Market zone.

The 90-day Market Action Index stands

at 16. With several months of inventory

available at the current sales rate,

buyers should find ample choice.

MARKET ACTION INDEX

MARKET ACTION QUARTILES

Not surprisingly, all quartiles are in the

Buyer's Market zone with several

months of inventory given the current

levels of demand. Watch the quartiles

for changes before the overall market

shifts.

DAYS ON MARKETThe properties have been on the marke

for an average of 171 days. Half of the

listings have come newly on the market

in the past 126 or so days. Watch the 90

day DOM trend for signals of a changin

market.



10/10


DAYS ON MARKET

It is not uncommon for the higher

priced properties in an area (Quartiles

1 and 2) to take longer to sell than

those in the lower quartiles.

About Altos Research CorporationAltos Research Corp. reports real-time analysis of the residential real estate market in local markets acrossthe country. All information contained herein is based on properties currently listed for sale and availablepublicly. When evaluating a particular property, make sure you use comparable sales data in addition tothe market trend information available in this report. The data presented in this report is accurate to thebest of our knowledge, but cannot be guaranteed as such. Use this report as one input in the real estatedecision making process, but do not rely on it for accuracy. Nothing in this report or any other Altos

Research publication is a recommendation to buy or to sell real estate. We recommend you work with alicensed real estate agent or broker.

Altos Research LLC Copyright 2005-2010. All Rights Reserved www.altosresearch.com

http://www.altosresearch.com/http://www.altosresearch.com/

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