COSTA MESA

8/14/2019 COSTA MESA

1/16

MARKET UPDATEJennifer Pritchett

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand

Value Metrics

Report for the week ofFebruary 15, 2010

Presented by Your Orange County Real Estate ConnectionColdwell Banker Residential [email protected]

COSTA MESA,

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2009 Altos Research LLC


2/16

Median List Price

Median Lot Size

20.7

Percent Relisted (reset DOM)

1772

2.0

5 %

Median Number of Bathrooms

173

Inventory of Properties Listed

$ 332

Percent Flip (price increased)

4,501 - 6,500 sqft

Median House Size (sq ft)

$ 589,000

28 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

7 %

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

41 22375

1572.0 48

3.0

3

137

3.0 48

192

2

5

4,501 -6,500 sqft

54

$ 539,000

5

2

48

2.5

4,501 -6,500 sqft

42.0

12744,501 -

6,500 sqft

47

$ 407,400

3.0

206

4,501 -6,500 sqft$ 649,000

4.0$ 830,000

47

5

1900

With inventory trending up but days-on-market trending down and theMarket Action Index essentially flatrecently, conditions do not seem tohave strong up or down pull.

Monday February 15, 2010

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

47

1780

1.5

The median list price in COSTA MESA,CA this week is $589,000. The 190

properties have been on the marketfor an average of 173 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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COSTA MESC

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

190

$ 2,999,000

$ 200,000

$ 637,978

43

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

Page 2 of 16

Single Family Home


3/16


City OverviewCOSTA MES

C


Median PriceThis week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in generalover the last several weeks.

90-day Average7-day Average

Quartile PricesPrices 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 16

Single Family Hom


4/16



C


Price per Square FootIn a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that newhomes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.


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.


Page 4 of 16

Single Family Hom


5/16



C


Market Action IndexThe COSTA MESA market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 20.71. 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


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantagezone (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 thecurrent rate of sale versus current inventory.

Page 5 of 16

Single Family Hom


6/16




Days on MarketThe properties have been on the market for an average of 173 days. Half of the listings have come newly on the market in thepast 108 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.


Page 6 of 16

Single Family Hom


7/16

Median List Price

Median Lot Size

20.3


1516

2.0

6 %


198


$ 372


6,501 - 8,000 sqft


$ 605,000

29 %

3.0

Market Action Index



8 %


Strong Buyer's

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+

+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


48 02224

1682.0 54

3.0

1

256

3.0 22

121

1

2

6,501 -8,000 sqft

55

$ 537,000

4

1

22

2.0

4,501 -6,500 sqft

32.5

11266,501 -

8,000 sqft

22

$ 379,450

3.0

248

4,501 -6,500 sqft$ 682,500

4.0$ 895,000

51

2

1648




21

1461

1.0

The median list price in COSTA MESA,CA 92627 this week is $605,000. The

87 properties have been on themarket for an average of 198 days.






No change



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COSTA MESCA 9262

Neighborhood Detail


Average List Price


87

$ 2,549,000

$ 290,000

$ 664,937

45

Trend Key:


Page 7 of 16

Single Family Home


8/16


Neighborhood DetailCOSTA MES

CA 926


Median PriceDespite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's highpoint, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.


Quartile PricesIn the quartile market segments, we see price for this zip code in general with price stagnation in recent weeks. Quartile 4 isdown, while the rest of the market is basically flat. Look to the Market Action Index to determine if this plateau is the stage fora prolonged price decline.


Page 8 of 16

Single Family Hom


9/16



CA 926


Price per Square FootIn a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that newhomes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.




Page 9 of 16

Single Family Hom


10/16



CA 926


Market Action IndexThe COSTA MESA, 92627 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 20.27. With several months of inventory available at the current sales rate, buyers should find ample choice.


Market Action Index per QuartileThree of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the currentlevels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyersseem to be placing emphasis on the premium homes.





age 10 of 16

Single Family Hom


11/16



CA 926






Page 11 of 16

Single Family Hom


12/16

Median List Price

Median Lot Size

20.8


1900

2.0

4 %


152


$ 318


4,501 - 6,500 sqft


$ 575,000

28 %

4.0

Market Action Index



6 %


Strong Buyer's

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+




ottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


30 12383

1372.0 47

3.0

1

119

4.0 26

257

1

3

4,501 -6,500 sqft

48

$ 547,000

2

1

26

2.5

4,501 -6,500 sqft

22.0

13374,501 -

6,500 sqft

26

$ 457,500

4.0

93

4,501 -6,500 sqft$ 634,500

4.0$ 735,000

46

3

1940




25

1810

2.0

The median list price in COSTA MESA,CA 92626 this week is $575,000. The

103 properties have been on themarket for an average of 152 days.






No change



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COSTA MESCA 9262

Neighborhood Detail


Average List Price


103

$ 2,999,000

$ 200,000

$ 615,206

41

Trend Key:


age 12 of 16

Single Family Home


13/16



CA 926


Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend in general over the last several weeks.


Quartile PricesIn the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 3 is on a bit ofan up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across theboard move from these levels.


age 13 of 16

Single Family Hom


14/16



CA 926


Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.




age 14 of 16

Single Family Hom


15/16



CA 926


Market Action IndexThe COSTA MESA, 92626 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 20.83. With several months of inventory available at the current sales rate, buyers should find ample choice.


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.





age 15 of 16

Single Family Hom


16/16



CA 926





Single Family Hom

COSTA MESA

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