Monday April 22, 2013
Jay Valento's Real Estate Market Report Executive Summary
LONG BEACH, CA Single Family Homes
This Week The median list price in LONG BEACH, CA this week is $434,500.
Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Real-Time Market Profile
Trend
Median List Price $ 434,500 Asking Price Per Square Foot $ 314 Average Days on Market (DOM) 120 Percent of Properties with Price Decrease 17 % Percent Relisted (reset DOM) n/a Percent Flip (price increased) 9% Median House Size (sq ft) 1378 Median Lot Size 4,501 - 6,500 sqft Median Number of Bedrooms 3.0
== == ≠≠
Median Number of Bathrooms
Supply and Demand
Market Action Index
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.
±+
No change
2.0
Seller's Advantage
42.7
==
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Price Market Action Index
This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.
Price Trends
7-Day Rolling Average
90-Day Rolling Average
Buyer/Seller Cutoff
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 Seller's Market conditions. Below 30, conditions favor the buyer.
Quartiles
7-Day Rolling Average
Characteristics per Quartile Quartile
Median Price
Sq. Ft.
Top/First
$ 995,000
Upper/Second
90-Day Rolling Average
Investigate the market in quartiles where each quartile is 25% of homes ordered by price.
Lot Size
Beds
Baths
Age Inventory New Absorbed DOM
2528
4,501 6,500 sqft
3.0
2.5
52
119
18
10
156
$ 539,900
1486
4,501 6,500 sqft
3.0
2.0
63
119
25
25
98
Upper-middle 25% of properties
Lower/Third
$ 349,900
1176
4,501 6,500 sqft
3.0
1.0
68
119
27
20
98
Lower-middle 25% of properties
Bottom/Fourth
$ 219,900
1002
4,501 6,500 sqft
2.0
1.0
70
119
23
20
128
Most expensive 25% of properties
Least expensive 25% of properties
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