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Your Local MARKET UPDATE DEL MAR, 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 November 02, 2009
· Presented by Pickford Escrow - San Diego Pickford Escrow and The Escrow Firm [email protected] (858) 525-5478
Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
City Overview Pickford Escrow and The Escrow Firm
DEL MAR, CA
This Week
Real-Time Market Profile
The median list price in DEL MAR, CA this week is $1,999,900. The 131 properties have been on the market for an average of 214 days.
Trend
Median List Price
$ 1,999,900
Average List Price
$ 4,374,360 $ 748
±+
Average Days on Market (DoM)
214
±+
Inventory of Properties Listed
131
==
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.
$ 76,000,000
Least Expensive Listing
$ 799,000
Average Age of Listing
32
Percent of Properties with Price Decrease
38 %
Percent Relisted (reset DOM)
15 %
Percent Flip (price increased)
0%
Median House Size (sq ft)
2919
Median Lot Size
Supply and Demand
±+
0.25 - 0.50 acre
Median Number of Bedrooms
4.0
Median Number of Bathrooms
3.0
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market.
Market Action Index
Strong Buyer's
15.2
≠≠
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
$ 6,349,500
4000
0.25 - 0.50 acre
4.0
4.5
37
32
1
0
264
Most expensive 25% of properties
Upper/Second
$ 2,550,000
3000
0.25 - 0.50 acre
4.0
3.5
22
33
1
2
210
Upper-middle 25% of properties
Lower/Third
$ 1,749,500
3164
0.25 - 0.50 acre
4.0
3.0
30
33
3
0
207
Lower-middle 25% of properties
Bottom/Fourth
$ 1,250,000
2258
6,501 8,000 sqft
4.0
2.5
31
33
0
2
177
Least expensive 25% of properties
Page 2 of 6
Monday November 2, 2009
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
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 generally settled at a plateau, although Quartile 3 has been declining in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.
First/Top
Page 3 of 6
Second/Upper
Third/Lower
Monday November 2, 2009
Fourth/Bottom
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
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 6
90-day Average
Monday November 2, 2009
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
Market Action Index The DEL MAR market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 15.20. 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 5 of 6
Monday November 2, 2009
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
Days on Market The properties have been on the market for an average of 214 days. Half of the listings have come newly on the market in the past 175 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 6
Second/Upper
Third/Lower
Monday November 2, 2009
Fourth/Bottom
· 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 November 02, 2009
· Presented by Pickford Escrow - San Diego Pickford Escrow and The Escrow Firm [email protected] (858) 525-5478
Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
City Overview Pickford Escrow and The Escrow Firm
DEL MAR, CA
This Week
Real-Time Market Profile
The median list price in DEL MAR, CA this week is $1,999,900. The 131 properties have been on the market for an average of 214 days.
Trend
Median List Price
$ 1,999,900
Average List Price
$ 4,374,360 $ 748
±+
Average Days on Market (DoM)
214
±+
Inventory of Properties Listed
131
==
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.
$ 76,000,000
Least Expensive Listing
$ 799,000
Average Age of Listing
32
Percent of Properties with Price Decrease
38 %
Percent Relisted (reset DOM)
15 %
Percent Flip (price increased)
0%
Median House Size (sq ft)
2919
Median Lot Size
Supply and Demand
±+
0.25 - 0.50 acre
Median Number of Bedrooms
4.0
Median Number of Bathrooms
3.0
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market.
Market Action Index
Strong Buyer's
15.2
≠≠
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
$ 6,349,500
4000
0.25 - 0.50 acre
4.0
4.5
37
32
1
0
264
Most expensive 25% of properties
Upper/Second
$ 2,550,000
3000
0.25 - 0.50 acre
4.0
3.5
22
33
1
2
210
Upper-middle 25% of properties
Lower/Third
$ 1,749,500
3164
0.25 - 0.50 acre
4.0
3.0
30
33
3
0
207
Lower-middle 25% of properties
Bottom/Fourth
$ 1,250,000
2258
6,501 8,000 sqft
4.0
2.5
31
33
0
2
177
Least expensive 25% of properties
Page 2 of 6
Monday November 2, 2009
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
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 generally settled at a plateau, although Quartile 3 has been declining in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.
First/Top
Page 3 of 6
Second/Upper
Third/Lower
Monday November 2, 2009
Fourth/Bottom
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
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 6
90-day Average
Monday November 2, 2009
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
Market Action Index The DEL MAR market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 15.20. 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 5 of 6
Monday November 2, 2009
City Overview
DEL MAR, CA
Pickford Escrow and The Escrow Firm
Days on Market The properties have been on the market for an average of 214 days. Half of the listings have come newly on the market in the past 175 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 6
Second/Upper
Third/Lower
Monday November 2, 2009
Fourth/Bottom
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