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MARKET UPDATE
Your Local
Current Real Estate Market Conditions for Single Family
Homes
Trends in Pricing Current Levels of Supply and Demand
Value Metrics
Report for the week ofAugust 23, 2010
Presented by Pickford Escrow - San DiegoPickford Escrow and The
Escrow [email protected](858) 525-5478
LA JOLLA, CA 920
Powered by Altos Research LLC | www.altosresearch.com |
Copyright 2005-2010 Altos Research LLC
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Median List Price
Median Lot Size
11.7
Percent Relisted (reset DOM)
3131
3.5
3 %
Median Number of Bathrooms
165
Inventory of Properties Listed
$ 776
Percent Flip (price increased)
0.25 - 0.50 acre
Median House Size (sq ft)
$ 2,295,000
40 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
10 %
Percent of Properties with Price Decrease
Strong Buyer's
==
+
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+
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
ottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?"
by measuringthe current rate of sale versus the amount of the
inventory. Index above 30implies a seller's advantage. Below 30,
conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
20 45327
1593.0 42
3.0
5
143
4.0 79
129
4
3
0.50 - 1.0acre
38
$ 1,795,000
5
4
79
5.0
8,001 -10,000 sqft
34.0
20838,001 -
10,000 sqft
79
$ 1,195,000
4.0
230
0.25 - 0.50acre$ 2,800,000
5.0$ 5,972,500
34
5
3716
Inventory and days-on-market areclimbing, while the Market
ActionIndex has been flat recently. Thetrends point to a weakening
market.
Monday August 23, 2010
Pickford Escrow and The Escrow Firm
78
2486
2.5
The median list price in LA JOLLA, CA92037 this week is
$2,295,000. The
315 properties have been on themarket for an average of 165
days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New
Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend+
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=
LA JOLLA,
920
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
315
$ 42,000,000
$ 650,000
$ 3,743,562
34
Trend Key:
In terms of supply and demand, themarket is getting cooler -
moresupply is coming on the marketrelative to the sales
demand.However, in recent weeks priceshave been moving higher.
Since it istechnically a Buyer's market, thisprice trend may be a
result ofimproved quality (newer, largerhomes) of the homes being
listed.Look at the descriptive statistics
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Single Family Home
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Pickford Escrow and The Escrow Firm
Neighborhood DetailLA JOLLA,
920
Monday August 23, 2010
Median PricePrices in this zip code have been on a downward
trend recently and this week, while essentially flat, doesn't break
us out of thatcycle.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see prices in
this zip code without strong directional trend lately. Prices in
Quartiles 1 and4 have been mixed in recent weeks, while Quartile 3
is down and Quartile 2 is up. Look to the Market Action Index to
determinewhen we may see a shift in prices from these current
levels.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Single Family Hom
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Pickford Escrow and The Escrow Firm
Neighborhood DetailLA JOLLA,
920
Monday August 23, 2010
Price per Square FootDespite recently falling prices, the price
per square foot has stayed reasonably flat. This implies that
there's a portion of themarket being priced at a premium. You can
investigate this condition in the quartile details.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been
climbing lately. Note that rising inventory alone does not signal a
weakening market. Look to the MarketAction Index and Days on Market
trends to gauge whether buyer interest is keeping up with available
supply.
90-day Average7-day Average
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Single Family Hom
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Pickford Escrow and The Escrow Firm
Neighborhood DetailLA JOLLA,
920
Monday August 23, 2010
Market Action IndexThe LA JOLLA, 92037 market is currently quite
strongly in the Buyer's Advantage zone (below 30). The 90-day
Market ActionIndex stands at 11.67. With several months of
inventory available at the current sales rate, buyers should find
ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles
are in the Buyer's Market zone with several months of inventory
given the current levels ofdemand. 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 characterizedby analyzing those
factors. Watch this index for sustained changes: if the index falls
into the BuyersAdvantage zone (below 30) for a long period, prices
are likely in for a downward correction.
The Market Action Index (MAI) illustrates a balance between
supply and demand using a statistical functionof the current rate
of sale versus current inventory.
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Single Family Hom
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Pickford Escrow and The Escrow Firm
Neighborhood DetailLA JOLLA,
920
Monday August 23, 2010
Days on MarketThe properties have been on the market for an
average of 165 days. Half of the listings have come newly on the
market in thepast 112 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher
priced homes in an area to take longer to sell than those in the
lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Single Family Hom
