McMillin Realty's MARKET UPDATE CHULA VISTA, CA
· 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 February 01, 2010
· Presented by Liz Klaser's McMillin Realty www.mcmillinrealty.com - clientcare@mcmillinrealty.com 866-694-6491
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City Overview
Single Family Homes in
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
CHULA VISTA, CA
This Week
Real-Time Market Profile
The median list price in CHULA VISTA, CA this week is $379,450. The 612 properties have been on the market for an average of 145 days.
Trend
Median List Price
$ 379,450
Average List Price
$ 430,071 $ 180
±+
Average Days on Market (DoM)
145
≠≠
Inventory of Properties Listed
612
==
Asking Price Per Square Foot
Most Expensive Listing
Inventory is up and Market Action is trending down recently. While dayson-market appears to be trending lower, the overall conditions are weakening a bit.
$ 3,800,000
Least Expensive Listing
$ 170,000
Average Age of Listing
19
Percent of Properties with Price Decrease
17 %
Percent Relisted (reset DOM)
7%
Percent Flip (price increased)
7%
Median House Size (sq ft)
2102
Median Lot Size
Supply and Demand
±+
6,501 - 8,000 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Market Action Index
Buyer's Advantage
26.1
≠≠
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.
Trend Key:
±+
No change
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 540,000
3217
0.25 - 0.50 acre
5.0
3.5
6
153
18
11
169
Most expensive 25% of properties
Upper/Second
$ 413,900
2407
4,501 6,500 sqft
4.0
3.0
8
153
25
11
145
Upper-middle 25% of properties
Lower/Third
$ 339,000
1804
4,501 6,500 sqft
4.0
2.5
10
153
19
8
133
Lower-middle 25% of properties
Bottom/Fourth
$ 260,000
1466
6,501 8,000 sqft
3.0
2.0
42
153
19
14
134
Least expensive 25% of properties
Page 2 of 31
Monday February 1, 2010
Single Family Homes in
City Overview
CHULA VISTA, CA
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Median 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.
7-day Average
90-day Average
Quartile Prices Prices 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
Page 3 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Single Family Homes in
City Overview
CHULA VISTA, CA
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Price per Square Foot 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 before the market moves from these levels.
7-day Average
90-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.
7-day Average
Page 4 of 31
90-day Average
Monday February 1, 2010
Single Family Homes in
City Overview
CHULA VISTA, CA
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Market Action Index The CHULA VISTA market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 26.14 so buyers should expect find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile 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 changes before the overall market shifts. 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 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. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 5 of 31
Monday February 1, 2010
Single Family Homes in
City Overview
CHULA VISTA, CA
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Days on Market The properties have been on the market for an average of 145 days. Half of the listings have come newly on the market in the past 84 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
Page 6 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
CHULA VISTA, CA 91911
This Week
Real-Time Market Profile
The median list price in CHULA VISTA, CA 91911 this week is $285,000. The 115 properties have been on the market for an average of 148 days.
Trend
Median List Price
$ 285,000
Average List Price
$ 314,426 $ 176
±+
Average Days on Market (DoM)
148
≠≠
Inventory of Properties Listed
115
==
Asking Price Per Square Foot
Most Expensive Listing
Inventory is up and Market Action is trending down recently. While dayson-market appears to be trending lower, the overall conditions are weakening a bit.
$ 1,495,000
Least Expensive Listing
$ 170,000
Average Age of Listing
41
Percent of Properties with Price Decrease
19 %
Percent Relisted (reset DOM)
3%
Percent Flip (price increased)
7%
Median House Size (sq ft)
1672
Median Lot Size
Supply and Demand
±+
6,501 - 8,000 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.0
Altos Research Value Statistics
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Market Action Index
Buyer's Advantage
29.7
≠≠
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.
Trend Key:
±+
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
No change
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 401,250
2223
8,001 10,000 sqft
4.0
2.5
15
28
2
2
153
Most expensive 25% of properties
Upper/Second
$ 313,500
1714
6,501 8,000 sqft
4.0
2.5
43
29
5
2
157
Upper-middle 25% of properties
Lower/Third
$ 252,900
1582
6,501 8,000 sqft
3.0
2.0
48
29
6
5
144
Lower-middle 25% of properties
Bottom/Fourth
$ 225,000
1294
8,001 10,000 sqft
3.0
2.0
51
29
1
3
139
Least expensive 25% of properties
Page 7 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91911
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Median Price We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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
Page 8 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91911
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Price per Square Foot 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 before the market moves from these levels.
7-day Average
90-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.
7-day Average
Page 9 of 31
90-day Average
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91911
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Market Action Index The CHULA VISTA, 91911 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 29.71 so buyers should expect find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile The middle of this zip code (Quartiles 2 and 3) are in the Buyer's Market zone with several months of inventory given the current levels of demand. Notice that Quartiles 2 and 3 (the middle of the market) are showing weaker demand than either end.
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. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 10 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91911
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Days on Market The properties have been on the market for an average of 148 days. Half of the listings have come newly on the market in the past 84 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
Page 11 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
CHULA VISTA, CA 91910
This Week
Real-Time Market Profile
The median list price in CHULA VISTA, CA 91910 this week is $365,000. The 112 properties have been on the market for an average of 138 days.
Trend
Median List Price
$ 365,000
Average List Price
$ 484,861 $ 201
±+
Average Days on Market (DoM)
138
±+
Inventory of Properties Listed
112
==
Asking Price Per Square Foot
Most Expensive Listing
The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.
$ 2,999,500
Least Expensive Listing
$ 195,000
Average Age of Listing
33
Percent of Properties with Price Decrease
23 %
Percent Relisted (reset DOM)
7%
Percent Flip (price increased)
5%
Median House Size (sq ft)
1860
Median Lot Size
Supply and Demand
==
6,501 - 8,000 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Market Action Index
Buyer's Advantage
24.6
≠≠
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.
Trend Key:
±+
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
No change
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 615,000
3056
0.25 - 0.50 acre
4.5
3.2
14
28
6
4
167
Most expensive 25% of properties
Upper/Second
$ 399,000
2022
4,501 6,500 sqft
4.0
2.5
22
28
9
3
161
Upper-middle 25% of properties
Lower/Third
$ 329,500
1650
6,501 8,000 sqft
3.0
2.5
24
28
4
2
85
Lower-middle 25% of properties
Bottom/Fourth
$ 250,438
1272
6,501 8,000 sqft
3.0
2.0
60
28
4
4
140
Page 12 of 31
Monday February 1, 2010
Least expensive 25% of properties
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91910
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Median Price The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
7-day Average
90-day Average
Quartile Prices 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 this plateau is the stage for a prolonged price decline.
First/Top
Page 13 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91910
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
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 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.
7-day Average
Page 14 of 31
90-day Average
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91910
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Market Action Index The CHULA VISTA, 91910 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 24.61 so buyers should expect find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile Three of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the current levels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyers seem to be placing emphasis on the premium homes.
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. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 15 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91910
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Days on Market 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 70 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
Page 16 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
CHULA VISTA, CA 91915
This Week
Real-Time Market Profile
The median list price in CHULA VISTA, CA 91915 this week is $399,000. The 113 properties have been on the market for an average of 144 days.
Trend
Median List Price
$ 399,000
Average List Price
$ 399,698 $ 172
±+
Average Days on Market (DoM)
144
==
Inventory of Properties Listed
113
==
Asking Price Per Square Foot
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Most Expensive Listing
$ 685,000
Least Expensive Listing
$ 239,580
Average Age of Listing
8
Percent of Properties with Price Decrease
14 %
Percent Relisted (reset DOM)
7%
Percent Flip (price increased)
4%
Median House Size (sq ft)
2310
Median Lot Size
Supply and Demand
±+
4,501 - 6,500 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Market Action Index
Buyer's Advantage
24.9
≠≠
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.
Trend Key:
±+
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
No change
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 499,950
3040
6,501 8,000 sqft
5.0
3.5
6
28
3
0
158
Most expensive 25% of properties
Upper/Second
$ 429,500
2462
4,501 6,500 sqft
4.0
2.5
6
28
3
0
172
Upper-middle 25% of properties
Lower/Third
$ 364,950
2153
4,501 6,500 sqft
3.0
2.5
6
28
3
2
119
Lower-middle 25% of properties
Bottom/Fourth
$ 295,000
1544
2.5 - 5.0 acres
3.0
2.5
9
29
5
0
127
Least expensive 25% of properties
Page 17 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91915
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Median 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 see prices move from these levels.
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
Page 18 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91915
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Price per Square Foot 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 before the market moves from these levels.
7-day Average
90-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.
7-day Average
Page 19 of 31
90-day Average
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91915
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Market Action Index The CHULA VISTA, 91915 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 24.90 so buyers should expect find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile 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.
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. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 20 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91915
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Days on Market The properties have been on the market for an average of 144 days. Half of the listings have come newly on the market in the past 91 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
Page 21 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
CHULA VISTA, CA 91914
This Week
Real-Time Market Profile
The median list price in CHULA VISTA, CA 91914 this week is $499,900. The 83 properties have been on the market for an average of 184 days.
Trend
Median List Price
$ 499,900
Average List Price
$ 642,981 $ 174
±+
Average Days on Market (DoM)
184
≠≠
Inventory of Properties Listed
83
==
Asking Price Per Square Foot
Most Expensive Listing
Demand measured by the Market Action Index is increasing and dayson-market is trending downward. Even as more properties come available, these are positive trends for the market.
$ 3,800,000
Least Expensive Listing
$ 322,000
Average Age of Listing
6
Percent of Properties with Price Decrease
12 %
Percent Relisted (reset DOM)
5%
Percent Flip (price increased)
1%
Median House Size (sq ft)
3024
Median Lot Size
Supply and Demand
≠≠
8,001 - 10,000 sqft
Median Number of Bedrooms
5.0
Median Number of Bathrooms
3.5
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, the as supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.
Market Action Index
Strong Buyer's
22.0
==
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.
Trend Key:
±+
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
No change
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 670,000
4235
0.50 - 1.0 acre
5.0
4.5
4
20
2
2
213
Most expensive 25% of properties
Upper/Second
$ 575,000
3617
8,001 10,000 sqft
5.0
3.5
5
21
2
1
146
Upper-middle 25% of properties
Lower/Third
$ 465,000
2656
6,501 8,000 sqft
5.0
3.0
6
21
6
3
193
Lower-middle 25% of properties
Bottom/Fourth
$ 390,000
2150
4,501 6,500 sqft
4.0
2.5
7
21
0
1
183
Least expensive 25% of properties
Page 22 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91914
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Median Price Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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
Page 23 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91914
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Price per Square Foot Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
7-day Average
90-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.
7-day Average
Page 24 of 31
90-day Average
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91914
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Market Action Index The CHULA VISTA, 91914 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 21.96. With several months of inventory available at the current sales rate, buyers should find ample choice.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile 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.
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. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 25 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91914
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Days on Market The properties have been on the market for an average of 184 days. Half of the listings have come newly on the market in the past 98 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
Page 26 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
CHULA VISTA, CA 91913
This Week
Real-Time Market Profile
The median list price in CHULA VISTA, CA 91913 this week is $379,900. The 189 properties have been on the market for an average of 133 days.
Trend
Median List Price
$ 379,900
Average List Price
$ 392,627 $ 176
±+
Average Days on Market (DoM)
133
==
Inventory of Properties Listed
189
==
Asking Price Per Square Foot
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Most Expensive Listing
$ 875,000
Least Expensive Listing
$ 191,000
Average Age of Listing
10
Percent of Properties with Price Decrease
15 %
Percent Relisted (reset DOM)
9%
Percent Flip (price increased)
12 %
Median House Size (sq ft)
2123
Median Lot Size
Supply and Demand
±+
4,501 - 6,500 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Market Action Index
Buyer's Advantage
26.9
≠≠
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.
Trend Key:
±+
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
No change
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 495,000
3114
6,501 8,000 sqft
5.0
3.5
7
47
5
3
139
Most expensive 25% of properties
Upper/Second
$ 410,850
2500
4,501 6,500 sqft
4.0
3.0
8
47
6
3
123
Upper-middle 25% of properties
Lower/Third
$ 350,000
1901
4,501 6,500 sqft
4.0
2.5
8
47
5
2
106
Lower-middle 25% of properties
Bottom/Fourth
$ 310,000
1613
Less than 4,500 sqft
3.0
2.5
8
48
4
2
162
Least expensive 25% of properties
Page 27 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91913
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Median 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 see prices move from these levels.
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
Page 28 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91913
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Price per Square Foot 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 before the market moves from these levels.
7-day Average
90-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.
7-day Average
Page 29 of 31
90-day Average
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91913
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Market Action Index The CHULA VISTA, 91913 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 26.86 so buyers should expect find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile 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.
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. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 30 of 31
Monday February 1, 2010
Single Family Homes in
Neighborhood Detail
CHULA VISTA, CA 91913
McMillin Realty | www.mcmillinrealty.com | 866-694-6491
Days on Market The properties have been on the market for an average of 133 days. Half of the listings have come newly on the market in the past 84 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
Page 31 of 31
Second/Upper
Third/Lower
Monday February 1, 2010
Fourth/Bottom