Market Update - Beverly Hills California 90210

8/8/2019 Market Update - Beverly Hills California 90210

1/11

MARKET UPDATEChristophe Choo's

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand Value Metrics

Report for the week ofNovember 01, 2010

Presented by Christophe Choo Real Estate Group - Locally Known. GloballyConnected.Christophe Choo Real Estate Group www.ChristopheChoo.com - [email protected](310)777-6342

BEVERLY HILLS, CA9021

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2/11

Median List Price

Median Lot Size

15.1

Percent Relisted (reset DOM)

4133

4.5

3 %

Median Number of Bathrooms

196

Inventory of Properties Listed

$ 765

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 3,395,000

46 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

13 %

Percent of Properties with Price Decrease

Strong Buyer's

==

+

+

+

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

22 18500

1794.0 50

3.0

6

194

4.0 70

172

5

3

0.50 - 1.0acre

59

$ 2,495,000

1

0

70

7.0

0.25 - 0.50acre

35.2

2356 6,501 -8,000 sqft

70

$ 1,350,750

5.0

240

0.25 - 0.50acre$ 4,282,500

6.0$ 9,850,000

52

5

5236

The Market Action Index has beentrending down lately, while inventoryis climbing. These trends imply aweakening market.

Monday November 1, 2010

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

69

3614

2.8

The median list price in BEVERLYHILLS, CA this week is $3,395,000.The 279 properties have been on themarket for an average of 196 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 trendSlight upward trend Slight downward trend+

==

=

BEVERLY HILLS, CACity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

279

$ 0$ 519,000

$ 5,544,523

46

Trend Key:

The market has settled in at arelative stasis in inventory and salesconditions. It's a Buyer's market thathas seen prices trend lower. Expectthat consistent up trends in demandwill be required before price trendschange significantly.

age 2 of 11

Single Family Homes in


3/11

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342City Overview

BEVERLY HILLS, CA


Median PriceThe market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability ofthis trend.

90-day Average7-day Average

Quartile PricesMost of the market segments are showing price weakness lately. Notice however, that Quartile 4 at the low-end of the market isstill on an up-trend. Often this condition happens in markets where demand has fallen (for example, due to micro-locationvariables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.

First/Top Second/Upper Third/Lower Fourth/Bottom

age 3 of 11



4/11


BEVERLY HILLS, CA


Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


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.


age 4 of 11



5/11


BEVERLY HILLS, CA


Market Action IndexThe BEVERLY HILLS market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 15.13. 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 given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

changes.


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.

age 5 of 11



6/11


BEVERLY HILLS, CA


Days on MarketThe properties have been on the market for an average of 196 days. Half of the listings have come newly on the market in thepast 140 or so days.


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.


age 6 of 11



7/11

Median List Price

Median Lot Size

14.6

Percent Relisted (reset DOM)

4744

5.0

2 %

Median Number of Bathrooms

204

Inventory of Properties Listed

$ 789

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 3,795,000

47 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

13 %

Percent of Properties with Price Decrease

Strong Buyer's

+

+

+

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 18830

2254.5 50

3.0

3

178

4.0 60

167

4

3

0.50 - 1.0acre

50

$ 2,989,500

3

0

61

7.2

0.25 - 0.50acre

25.5

2650 0.25 - 0.50acre

60

$ 1,495,000

5.0

249

0.50 - 1.0acre$ 4,997,000

6.0$ 11,935,000

54

6

5491

The Market Action Index has beentrending down lately, indicatingdemand falling along with supply.Conditions point to mildly negativetrends for the market.


Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

60

4000

3.0

The median list price in BEVERLYHILLS, CA 90210 this week is$3,795,000. The 241 properties havebeen on the market for an average of204 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 trendSlight upward trend Slight downward trend+

==

=


Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

241

$ 0$ 519,000

$ 6,124,512

43

Trend Key:

The market has settled in at arelative stasis in inventory and salesconditions. It's a Buyer's market thathas seen prices trend lower. Expectthat consistent up trends in demandwill be required before price trendschange significantly.

age 7 of 11



8/11

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342Neighborhood Detail



Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.


Quartile PricesIn the quartile market segments, we see most of this zip code is showing price weakness lately. Notice however, that Quartile 4at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand has fallen (forexample, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes inthe area.


age 8 of 11



9/11




Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


age 9 of 11



10/11




Market Action IndexThe BEVERLY HILLS, 90210 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day MarketAction Index stands at 14.60. With several months of inventory available at the current sales rate, buyers should find amplechoice.

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.


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.

ge 10 of 11



11/11



M d N b 1 2010

Days on MarketThe properties have been on the market for an average of 204 days. Half of the listings have come newly on the market in thepast 147 or so days.


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.


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Market Update - Beverly Hills California 90210