newport coast
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MARKET UPDATEJennifer Pritchett
Current Real Estate Market Conditions for Single Family Homes
Trends in Pricing Current Levels of Supply and Demand
Value Metrics
Report for the week ofFebruary 15, 2010
Presented by Your Orange County Real Estate ConnectionColdwell Banker Residential [email protected]
NEWPORT COAST,
Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2009 Altos Research LLC
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Median List Price
Median Lot Size
13.5
Percent Relisted (reset DOM)
4008
4.5
11 %
Median Number of Bathrooms
322
Inventory of Properties Listed
$ 720
Percent Flip (price increased)
8,001 - 10,000 sqft
Median House Size (sq ft)
$ 3,100,000
37 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
14 %
Percent of Properties with Price Decrease
Strong Buyer's
+
==
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
ottom/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 measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
5 38358
3264.5 6
3.0
3
331
4.0 33
335
0
2
0.25 - 0.50acre
11
$ 2,900,000
3
0
33
6.5
8,001 -10,000 sqft
34.5
27144,501 -
6,500 sqft
33
$ 1,450,000
4.0
296
0.25 - 0.50acre$ 3,995,000
5.0$ 9,245,000
6
3
4556
Even though the days-on-market istrending higher, so is the MarketAction Index at these inventorylevels, providing a neutral outlook forthe market.
Monday February 15, 2010
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
32
4000
2.5
The median list price in NEWPORTCOAST, CA this week is $3,100,000.
The 131 properties have been on themarket for an average of 322 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+
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NEWPORCOAST, C
City Overview
Least Expensive Listing
Average List Price
Average Age of Listing
131
$ 19,850,000
$ 15,990
$ 4,739,364
7
Trend Key:
The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.
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Single Family Home
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Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
City OverviewNEWPO
COAST, C
Monday February 15, 2010
Median PriceAgain this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-highlevels. The Market Action Index is a good leading indicator for the durability of this trend.
90-day Average7-day Average
Quartile PricesPrices 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/Bottom
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Single Family Hom
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Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
City OverviewNEWPO
COAST, C
Monday February 15, 2010
Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.
90-day Average7-day Average
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Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
City OverviewNEWPO
COAST, C
Monday February 15, 2010
Market Action IndexThe NEWPORT COAST market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 13.54. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before 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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
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Single Family Hom
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Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
City OverviewNEWPO
COAST,
Monday February 15, 2010
Days on MarketThe properties have been on the market for an average of 322 days. Half of the listings have come newly on the market in thepast 273 or so days.
90-day Average7-day Average
Days on Market per QuartileIt 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
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Single Family Hom