The Escrow Leaders MARKET UPDATE€¦ · MISSION VIEJO, CA 92692 Monday October 19, 2015 Market...

MARKET UPDATEThe Escrow Leaders

· Current Real Estate Market Conditions for Condos & Townhomes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics

· Report for the week ofOctober 19, 2015

· Presented by Bob FoxEscrow [email protected] | www.escrowleaders.com(949) 322-5036

MISSION VIEJO, CA

Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2014 Altos Research LLC

Median List Price

43.9

Percent Relisted (reset DOM)

1304

2.0

8 %

Median Number of Bathrooms

74

Inventory of Properties Listed

$ 346

Percent Flip (price increased)

Median House Size (sq ft)

$ 459,950

42 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

3 %

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 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

14 01803

682.0 28

2.0

2

84

2.0 16

41

1

3

30

$ 429,450

6

0

16

3.0

22.0

900

15

$ 316,900

3.0

107

$ 485,000

3.0$ 615,000

35

2

1450

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.

Monday October 19, 2015

Escrow Leaders - Bob Fox | [email protected] |

15

1280

2.0

The median list price in MISSIONVIEJO, CA this week is $459,950. The62 properties have been on themarket for an average of 74 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±+

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MISSION VIEJO, CACity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

62

$ 755,000

$ 235,000

$ 460,785

28

Trend Key:

The market has been cooling overtime and prices plateaued for awhile. Despite the consistentdecrease in MAI, we're in the Seller'szone. Watch for changes in MAI. Ifthe MAI resumes it's climb, priceswill likely follow suit. If the MAIdrops consistently or falls into theBuyer's zone, watch for downwardpressure on prices.

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Condos & Townhomes in


City OverviewMISSION VIEJO, CA


Median PriceThe market appears to be hovering around this plateau. This week prices eased down a bit. The Market Action Index is a goodleading indicator for the durability of this shift.

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

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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.


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Market Action IndexThe MISSION VIEJO market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index standsat 43.92 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 QuartileNot surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before thewhole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal aslowdown for the whole group.


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 Buyer’sAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

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Days on MarketThe properties have been on the market for an average of 74 days. Half of the listings have come newly on the market in thepast 56 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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Median List Price

42.8


1333

2.0

3 %


78


$ 356



$ 469,000

48 %

2.0

Market Action Index



3 %


Seller's Advantage

≠

±+

=

==

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


30 01746

742.0 26

2.0

0

66

2.0 8

43

0

2

24

$ 459,950

1

0

8

2.0

22.0

1070

8

$ 360,000

2.0

136

$ 499,450

3.0$ 615,000

36

1

1450

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.



7

1293

2.0

The median list price in MISSIONVIEJO, CA 92692 this week is$469,000. The 31 properties havebeen on the market for an average of78 days.






No change



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≠=

MISSION VIEJO, CA92692

Neighborhood Detail


Average List Price


31

$ 664,900

$ 305,000

$ 482,681

29

Trend Key:

The market has been cooling overtime and prices plateaued for awhile. Despite the consistentdecrease in MAI, we're in the Seller'szone. Watch for changes in MAI. Ifthe MAI resumes it's climb, priceswill likely follow suit. If the MAIdrops consistently or falls into theBuyer's zone, watch for downwardpressure on prices.

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Neighborhood DetailMISSION VIEJO, CA

92692


Median PricePrices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index beforewe see prices deviate from these levels.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


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92692


Price per Square FootThe value placed on homes appears to be on the upswing, despite the fact that prices in general have remained basically flat.These conditions can arise when inventory is light and a greater number of smaller homes have more influence on overall prices.




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92692


Market Action IndexThe MISSION VIEJO, 92692 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Indexstands at 42.83 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.


Market Action Index per QuartileNot surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before thewhole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal aslowdown for the whole group.




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92692






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Median List Price

47.0


1280

2.0

13 %


71


$ 343



$ 427,900

35 %

3.0

Market Action Index



3 %


Strong Seller's

≠

±+

±+

==

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


3 01803

822.0 35

2.0

2

92

2.0 8

19

1

1

30

$ 379,000

5

0

8

3.0

02.5

750

8

$ 302,400

3.0

93

$ 467,500

3.0$ 619,900

29

1

1389

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.



7

1200

2.0

The median list price in MISSIONVIEJO, CA 92691 this week is$427,900. The 31 properties havebeen on the market for an average of71 days.






No change



== ≠≠

≠=

MISSION VIEJO, CA92691

Neighborhood Detail


Average List Price


31

$ 755,000

$ 235,000

$ 438,889

27

Trend Key:

The market has been cooling off abit in recent weeks, as more homesare available and demand is less.However, the market is still notablyin the Seller's zone so we haven't yetseen prices move lower as a result.It may take a few more weeks ofslack demand for prices to reflectand begin to fall. Expect thiscondition if the index falls to theBuyer's zone.

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92691


Median PriceDespite this week's down tick, price trends in this zip code have been moving up in the last few weeks. We are below themarket's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become adownward trend.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


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92691


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




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92691


Market Action IndexThe MISSION VIEJO, 92691 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day MarketAction Index stands at 46.98; indicating very little supply relative to the demand.


Market Action Index per QuartileNot surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before thewhole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal aslowdown for the whole group.




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92691






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