HotOnSanDiego's MARKET UPDATE ESCONDIDO, CA 92029
· 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 19, 2010
· Presented by Sue Johnson, The Hot On San Diego Team Windermere Exclusive Properties www.HotOnSanDiego.com 877-571-2289
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City Overview
Single Family Homes in
ESCONDIDO, CA
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
This Week
Real-Time Market Profile
The median list price in ESCONDIDO, CA this week is $407,225. The 624 properties have been on the market for an average of 133 days.
Trend
Median List Price
$ 407,225
Average List Price
$ 516,414 $ 194
±+
Average Days on Market (DoM)
133
≠≠
Inventory of Properties Listed
624
==
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.
$ 6,500,000
Least Expensive Listing
$ 76,500
Average Age of Listing
28
Percent of Properties with Price Decrease
30 %
Percent Relisted (reset DOM)
6%
Percent Flip (price increased)
6%
Median House Size (sq ft)
2070
Median Lot Size
Supply and Demand
±+
0.50 - 1.0 acre
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
Market Action Index
Strong Buyer's
21.8
==
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
$ 777,000
3278
1.0 - 2.5 acres
4.0
3.0
18
156
13
12
156
Most expensive 25% of properties
Upper/Second
$ 489,900
2578
0.50 - 1.0 acre
4.0
2.5
18
156
18
11
126
Upper-middle 25% of properties
Lower/Third
$ 329,900
1768
0.25 - 0.50 acre
3.0
2.0
32
156
16
16
128
Lower-middle 25% of properties
Bottom/Fourth
$ 225,000
1296
6,501 8,000 sqft
3.0
2.0
42
156
13
13
122
Least expensive 25% of properties
Page 2 of 11
Monday April 19, 2010
Single Family Homes in
City Overview
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA
Median Price Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
7-day Average
90-day Average
Quartile Prices While prices in the upper half of the market has shown essentially mixed pricing lately, the lower half of the market is trending lower. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1 and 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.
First/Top
Page 3 of 11
Second/Upper
Third/Lower
Monday April 19, 2010
Fourth/Bottom
Single Family Homes in
City Overview
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA
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 11
90-day Average
Monday April 19, 2010
Single Family Homes in
City Overview
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA
Market Action Index The ESCONDIDO market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 21.82. 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 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 11
Monday April 19, 2010
Single Family Homes in
City Overview
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA
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 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 6 of 11
Second/Upper
Third/Lower
Monday April 19, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
ESCONDIDO, CA 92029
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
This Week
Real-Time Market Profile
The median list price in ESCONDIDO, CA 92029 this week is $637,000. The 94 properties have been on the market for an average of 118 days.
Trend
Median List Price
$ 637,000
Average List Price
$ 800,365 $ 240
±+
Average Days on Market (DoM)
118
≠≠
Inventory of Properties Listed
94
==
Asking Price Per Square Foot
Most Expensive Listing
With inventory trending up but dayson-market trending down and the Market Action Index essentially flat recently, conditions do not seem to have strong up or down pull.
$ 6,500,000
Least Expensive Listing
$ 217,000
Average Age of Listing
26
Percent of Properties with Price Decrease
37 %
Percent Relisted (reset DOM)
10 %
Percent Flip (price increased)
7%
Median House Size (sq ft)
2577
Median Lot Size
Supply and Demand
==
0.50 - 1.0 acre
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics
Market Action Index
Strong Buyer's
18.1
±+
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:
±+
== 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
$ 995,000
3300
2.5 - 5.0 acres
4.0
3.5
20
23
0
2
149
Most expensive 25% of properties
Upper/Second
$ 729,000
2871
0.50 - 1.0 acre
4.0
2.5
25
23
3
1
111
Upper-middle 25% of properties
Lower/Third
$ 535,000
2468
0.50 - 1.0 acre
3.5
2.5
20
24
4
3
74
Lower-middle 25% of properties
Bottom/Fourth
$ 365,500
1744
0.50 - 1.0 acre
3.5
2.0
32
24
4
1
139
Page 7 of 11
Monday April 19, 2010
Least expensive 25% of properties
Single Family Homes in
Neighborhood Detail
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA 92029
Median Price Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high point, and we'll investigate the Market Action Index later on to see if we expect this week's 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 not showing any strong directional trend. Quartile 4 is down, Quartile 2 is at a plateau, while Quartiles 1 and 3 are up in the last few weeks. We'll need to see strong, persistent shifts (up or down) in the Market Action Index before being able to determine where this market is heading.
First/Top
Page 8 of 11
Second/Upper
Third/Lower
Monday April 19, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA 92029
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 9 of 11
90-day Average
Monday April 19, 2010
Single Family Homes in
Neighborhood Detail
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA 92029
Market Action Index The ESCONDIDO, 92029 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 18.10. 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 10 of 11
Monday April 19, 2010
Single Family Homes in
Neighborhood Detail
Sue Johnson & The Hot On San Diego Real Estate Team 877-571-2289 www.
ESCONDIDO, CA 92029
Days on Market The properties have been on the market for an average of 118 days. Half of the listings have come newly on the market in the past 74 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 11
Second/Upper
Third/Lower
Monday April 19, 2010
Fourth/Bottom