Jaime Tineo Market Update white Plains

8/14/2019 Jaime Tineo Market Update white Plains

1/22

Current prices for homes on the mark

Trends in priciCurrent levels of supply and dema

Value metri

market updat

Jaime Tineo'

WHITE PLAIN

2009-10-

Report for the week

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RE/MAX Power Realto

www.WestchesterCribs.com - [email protected]

Presented by Jaime Tin

914-202-27

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http://www.altosresearch.com/http://www.altosresearch.com/


2/22

Jaime Tineo | www.WestchesterCribs.com | 914-202-2760

The median single family home price

in WHITE PLAINS this week is

$679,000. The 151 homes have been on

the market for an average of 153 days.

THIS WEEK

Most Expensive Listing

Least Expensive Listing

Median List Price

Average List Price

Real-Time Market Profile Trend

Total Inventory

$ 679,000

$ 823,232

$ 6,299,000

$ 329,000

151

153Average Days on Market

Asking Price per Square Foot $ 309

15Absorbed This Week*

Percent of Properties with Price Decrease 43 %

Percent Relisted (reset DOM) 9 %

Percent Flip (price increased) 2 %

City Overview WHITE PLAINS

1.0 - 2.5 acres

Altos Research Value Statistics

Market Action Index

Median Number of Bedrooms

Median Number of Bathrooms

Median House Size (sq ft)

Median Lot Size

Median Age

2,283

4.0

2.0

57

15Cold! Buyer's Market

Altos Research calculates the Market Action Index which measures available supplyrelative to the current level of demand. Index value above 30 indicates conditions favorthe seller. See the section below for full details.

Inventory has been lightening lately

and the Market Action Index has beentrending up. Though days-on-market i

increasing, these are mildly positive

indications for the market.

To get a tightly targeted understanding

of homes in the market, we break eachlocale into quartiles. Each quartile is

25% of the homes listed.

QUARTILES

Characteristics per Quartile

Last Month's Trend Last Quarter's Trend

Trend Key

No Clear Monthly/Quarterly Trend

Bed BathMed.Sqft.

Med.Age Inven. New

Ab-sorbedMed. Lot SizeMedian PriceQuart

Avg.DoM

*Metric "Absorbed this Week" covers properties sold and those taken off the market for other reasons.Since sales sometimes take months to close, it is impossible to discern in real-time exactly which propertiessold.

Most expensive 25% of homes0.50 - 1.0 acre3,946 5.0 4.0 57 37 3 4$ 1,349,0001 256

Upper-middle 25% of homes1.0 - 2.5 acres2,646 4.0 3.0 48 38 2 3$ 794,0002 114

Lower-middle 25% of homes1.0 - 2.5 acres1,904 3.5 2.0 59 38 2 7$ 551,3503 127

Least expensive 25% of homes1,568 4.0 2.0 58 38 4 18,001 - 10,000

sq ft$ 449,4504 121

We'll refer to the quartiles in the trend

graphs below.

Jaime Tineo's Market Update for WHITE PLAINS


3/22


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.

QUARTILE PRICES

Pricing is on a slightly negative trend

lately. Prices in Quartile 4 and 1 have

been mixed recently, while the rest of

the market is trending downward. Look

to a strong, persistent up shift in the

Market Action Index as a leading

indicator of the trough in the market.

Often, we find insights by watching

pricing trends within the quartile

segments.



4/22


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.

PRICE AND VALUE

INVENTORY

Inventory has been falling in recent

weeks. Note that declining inventory

alone does not signal a strengthening

market. Look to the Market Action

Index and Days on Market trends to

gauge whether buyer interest is

changing with the available supply.



5/22


The WHITE PLAINS market is currently

quite strongly in the Buyer's Market

zone (below 30). The 90-day Market

Action Index stands at 15. With several

months of inventory available at the

current sales rate, buyers should find

ample choice.

Home sales have been exceeding new

inventory for several weeks. However

because of excess inventory, prices hav

not yet stopped falling. Should the sales

trend continue, expect prices to level ofsoon and potentially to resume their

climb from there. Watch prices as the

market transitions from a Buyer's

market to a Seller's market.

The Market Action Index (MAI) illustrates the balance between supply and demand using a

statistical function of the current rate of sale versus current inventory.

An MAI value greater than 30 typically indicates a Seller's Market (a.k.a. "Hot Market")because demand is high enough to quickly gobble up available supply. A hot market willtypically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "ColdMarket") where the inventory of already-listed homes is sufficient to last several months atthe current rate of sales. A cold market will typically cause prices to fall.

MARKET ACTION INDEXResidential house prices are a function of supply and demand, and market conditions can becharacterized by analyzing those factors. Watch this index for sustained changes: if the indexfalls into the Buyers Market zone for a long period, prices are likely in for a downwardcorrection.

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 change

before the overall market shifts. Often

one end of the market (e.g. the low end)

will improve and signal a strengtheningmarket before the whole group changes

The quartiles can help you answer the question, "How hot is the market for homes in my pricerange?"

MARKET ACTION QUARTILES



6/22


DAYS ON MARKET (DOM)

The properties have been on the

market for an average of 153 days. Half

of the listings have come newly on the

market in the past 112 or so days.

DOM 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.



7/22


10607Neighborhood DetailWHITE PLAINS



Median List Price

Average List Price


Total Inventory

$ 569,000

$ 672,542

$ 2,200,000

$ 385,000

33



3Absorbed This Week


in WHITE PLAINS 10607 this week is

$569,000.

THIS WEEK




Median Lot Size

Median Age

2,097

4.0

2.1

51Altos Research Value Statistics

2.5 - 5.0 acres

Market Action Index 12Cold! Buyer's Market

Inventory and days-on-market are bot

trending higher recently. However, the

improving Market Action Index implies

some increased demand will temper thnegative trends.

PRICE

Prices in this zip code have been on a

downward trend recently and this

week, while essentially flat, doesn't

break us out of that cycle.



8/22


PRICE PER QUARTILE

In the quartile market segments, we see

the market's price weakness evident

across the board. Quartiles 2, 3, and 4

have been in price decline in recent

weeks, with Quartile 1 remaining

basically flat. Look to the Market ActionIndex as a leading indicator of the

bottom of the market.

QUARTILESCharacteristics per Quartile

Bed BathMed. SqftMed.Age Inven. New


Avg.DoM

Most expensive 25% of homes1.0 - 2.5 acres2,885 4.0 3.0 46 8 0 2$ 934,5001 208

Upper-middle 25% of homes1.0 - 2.5 acres2,125 4.0 3.0 52 8 1 0$ 599,0002 131

Lower-middle 25% of homes0.25 - 0.50acre1,908 3.0 2.5 50 8 0 1$ 533,7503 89

Least expensive 25% of homes2.5 - 5.0 acres1,700 4.0 2.0 54 9 1 0$ 449,0004 110

We're seeing fairly unusual market

conditions as prices have been in a

downward trend but price per square

foot is actually increasing. (Buyers are

paying less and getting less home for

their money.) Anomalies like these can

be attributed to micro-location

variables.

PRICE AND VALUE



9/22


INVENTORY

Inventory has been climbing lately with

33 properties available this week. Note

that rising inventory alone does not

signal a weakening market. Look to the

Market Action Index to gauge whether

buyer interest is keeping up withavailable supply.

The WHITE PLAINS 10607 is quite

strongly in the Buyer's Market zone.

The 90-day Market Action Index stands

at 12. With several months of inventoryavailable at the current sales rate,

buyers should find ample choice.

MARKET ACTION INDEX


Not surprisingly, all quartiles are in theBuyer's Market zone with several


levels of demand. Watch the quartiles

for changes before the overall market

shifts.



10/22


DAYS ON MARKETThe properties have been on the marke

for an average of 133 days. Half of the

listings have come newly on the market

in the past 98 or so days. Watch the 90-

day DOM trend for signals of a changin

market.

DAYS ON MARKET

It is not uncommon for

the higher priced homes in an area

(Quartiles 1 and 2) to take longer to

sell than those in the lower quartiles.

1Jaime Tineo's Market Update for WHITE PLAINS


11/22





Median List Price

Average List Price


Total Inventory

$ 487,000

$ 626,268

$ 1,425,000

$ 350,000

22



2Absorbed This Week



$487,000.

THIS WEEK




Median Lot Size

Median Age

2,013

4.0

2.0


0.25 - 0.50 acre


Inventory has been tightening and

days-on-market increasing recently.

The Market Action Index has been

basically flat, not providing strongindication for market conditions.

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 thispoint, we will be looking for a persisten

upward shift in the Market Action

Index as a leading indicator for a

trough in prices.



12/22


PRICE PER QUARTILE


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 thiplateau is the stage for a prolonged

price decline.




Avg.DoM


Upper-middle 25% of homes2,554 4.0 2.0 87 5 0 0$ 540,0002 111Not Avail

Lower-middle 25% of homes2,064 4.0 1.5 109 6 1 1$ 475,0003 183Not Avail


sq ft$ 392,0004 177

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.

PRICE AND VALUE



13/22


INVENTORY

Inventory has been climbing lately with

22 properties available this week. Note

that rising inventory alone does not

signal a weakening market. Look to the

Market Action Index to gauge whether

buyer interest is keeping up withavailable supply.






MARKET ACTION INDEX






shifts.



14/22





in the past 133 or so days. Watch the 90


market.

DAYS ON MARKET







15/22





Median List Price

Average List Price


Total Inventory

$ 899,900

$ 1,083,889

$ 6,299,000

$ 425,000

65



9Absorbed This Week



$899,900.

THIS WEEK




Median Lot Size

Median Age

2,845

4.0

3.0


1.0 - 2.5 acres



and the Market Action Index has been

trending up. Though days-on-market i

increasing, these are mildly positiveindications for the market.

PRICE

In this zip code this week saw relatively

little price change from last week.

However, we continue to demonstrate a

nice up trend over the last severalweeks.



16/22


PRICE PER QUARTILE


the market's price weakness evident

across the board. All four quartiles hav

been in price decline in recent weeks.

Look to the Market Action Index as a

leading indicator of the bottom of themarket.




Avg.DoM


Upper-middle 25% of homes0.25 - 0.50acre3,183 4.5 4.0 28 16 1 1$ 999,9992 231


Least expensive 25% of homes1.0 - 2.5 acres1,568 3.0 2.0 58 17 1 5$ 549,0004 85

This is a market where watching the

value metrics (like price per square

foot) can provide insight that you don't

get at first glance. Despite the fact that

home prices are rising fairly

consistently, the price per square foot o

homes listed is declining. Often this can

be attributed to new and remodeled

homes on the market. Buyers in the

area are paying more but also getting

more for their money.

PRICE AND VALUE



17/22


INVENTORY


weeks with 65 properties available this

week. Note that declining inventory



Index to gauge whether buyer interestis falling with the available supply.






MARKET ACTION INDEX






shifts.



18/22





in the past 140 or so days. Watch the 90


market.

DAYS ON MARKET







19/22





Median List Price

Average List Price


Total Inventory

$ 549,000

$ 576,887

$ 1,349,000

$ 329,000

31



1Absorbed This Week



$549,000.

THIS WEEK




Median Lot Size

Median Age

1,787

3.0

2.0


1.0 - 2.5 acres



and the Market Action Index has been

trending up. Though days-on-market i

increasing, these are mildly positiveindications for the market.

PRICE

In this zip code this week saw relatively

little price change from last week.

However, we continue to demonstrate a

nice up trend in general over the lastseveral weeks.



20/22


PRICE PER QUARTILE


the lower half of this zip code is showin

slight pricing weakness, while the uppe

half of the market is slightly positive.

Quartile 1 has been trending up

recently, but unless we see a persistentup-shift in the Market Action Index, it

will likely resume the trend of the rest

of the market.




Avg.DoM

Most expensive 25% of homes2,441 4.0 2.0 8 7 1 06,501 - 8,000

sq ft$ 709,0001 131

Upper-middle 25% of homes0.25 - 0.50acre2,170 3.0 2.0 37 8 1 1$ 598,0002 133



sq ft$ 379,0004 77

The market appears to be placing an

increasing premium on homes. When

list prices and price per square foot

consistently increase in tandem, as

they're doing now, you can often find

short-term investment opportunities.

Watch the Market Action Index for

persistent changes as a leading

indicator for these trends to flatten or

drop.

PRICE AND VALUE



21/22


INVENTORY


weeks with 31 properties available this

week. Note that declining inventory



Index to gauge whether buyer interestis falling with the available supply.






MARKET ACTION INDEX






shifts.



22/22





in the past 98 or so days. Watch the 90-


market.

DAYS ON MARKET





About Altos Research CorporationAltos Research Corp. reports real-time analysis of the residential real estate market in local markets acrossthe country. All information contained herein is based on properties currently listed for sale and available

publicly. When evaluating a particular property, make sure you use comparable sales data in addition tothe market trend information available in this report. The data presented in this report is accurate to thebest of our knowledge, but cannot be guaranteed as such. Use this report as one input in the real estatedecision making process, but do not rely on it for accuracy. Nothing in this report or any other AltosResearch publication is a recommendation to buy or to sell real estate. We recommend you work with alicensed real estate agent or broker.

Altos Research LLC Copyright 2005-2009. All Rights Reserved www.altosresearch.com
http://www.altosresearch.com/http://www.altosresearch.com/

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Jaime Tineo Market Update white Plains