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Valencia CA Condo and townhome update by Paris911 11.03.2014

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Condos and townhomes that are moving and being listed in the Valencia CA City, which is located within the Santa Clarita Valley Cities. We have just concluded our weekly real estate reports that are all compiled and placed within our MacBoX at our main Santa Clarita real estate website. go to and type in the words market updates into the macBoX. You can also check out our daily real estate radio show at the same location. We have a seven day format, each show different, but very helpful for those wanting to buy or sell real estate and homes. I'm Connor MacIvor with REMAX of Valencia CA's Paris911 Team of Realtors. Enjoy our systems and let me know how I may help you when you are ready.

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Valencia CA Condo and townhome update by Paris911 11.03.2014

  1. 1. MARKET UPDATE Paris911 Intel Reports · Current Real Estate Market Conditions for Condos & Townhomes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics · Report for the week of November 03, 2014 · Presented by Connor and Paris MacIvor / REMAX of Santa Clarita CA REMAX of Valencia CA / The Paris911 Team / 661-400-1720 VALENCIA, CA Powered by Altos Research LLC | | Copyright ©2005-2014 Altos Research LLC
  2. 2. Median List Price 42.6 Percent Relisted (reset DOM) 1217 2.0 2 % Median Number of Bathrooms 68 Inventory of Properties Listed $ 290 Percent Flip (price increased) Median House Size (sq ft) $ 319,900 36 % 2.0 Market Action Index Median Number of Bedrooms Asking Price Per Square Foot 8 % Percent of Properties with Price Decrease Seller's Advantage ≠≠ ±+ == ±+ ≠≠ Altos Research Value Statistics Most Expensive Listing Average Days on Market (DoM) Bottom/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 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. Supply and Demand Characteristics per Quartile 14 31660 872.0 18 1.0 1 55 2.0 15 48 0 2 26 $ 309,999 1 2 15 2.5 02.0 740 15 $ 230,000 2.0 85 $ 360,000 3.0$ 429,000 10 0 1390 The Market Action Index has been trending down lately, indicating demand falling along with supply. Conditions point to mildly negative trends for the market. Monday November 3, 2014 The Paris911 Team | | 661-400-1720 14 1000 1.0 The median list price in VALENCIA, CA this week is $319,900. The 59 properties have been on the market for an average of 68 days. Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft. No change Strong upward trend Strong downward trend Slight upward trend Slight downward trend±+ == ≠≠ ≠= VALENCIA, CA City Overview Least Expensive Listing Average List Price Average Age of Listing 59 $ 849,900 $ 143,000 $ 341,125 18 Trend Key: The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer's zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action. Page 2 of 6 Condos & Townhomes in
  3. 3. The Paris911 Team | | 661-400-1720 City Overview VALENCIA, CA Monday November 3, 2014 Median Price Again this week we see a downward notch for prices. Prices continue to pull back from the market's highs. The Market Action Index is a good leading indicator for the durability of this trend. 90-day Average7-day Average Quartile Prices Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels. First/Top Second/Upper Third/Lower Fourth/Bottom Page 3 of 6 Condos & Townhomes in
  4. 4. The Paris911 Team | | 661-400-1720 City Overview VALENCIA, CA Monday November 3, 2014 Price per Square Foot 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. 90-day Average7-day Average Inventory of Properties Listed for Sale 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. 90-day Average7-day Average Page 4 of 6 Condos & Townhomes in
  5. 5. The Paris911 Team | | 661-400-1720 City Overview VALENCIA, CA Monday November 3, 2014 Market Action Index The VALENCIA market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 42.60 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly. Buyers/Sellers Cutoff90-day Average Market Action Index per Quartile Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for 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. Page 5 of 6 Condos & Townhomes in
  6. 6. The Paris911 Team | | 661-400-1720 City Overview VALENCIA, CA Monday November 3, 2014 Days on Market The properties have been on the market for an average of 68 days. Half of the listings have come newly on the market in the past 49 or so days. 90-day Average7-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 Second/Upper Third/Lower Fourth/Bottom Page 6 of 6 Condos & Townhomes in