Paris911 Intel Reports MARKET UPDATE CASTAIC, CA · Current Real Estate Market Conditions for Condos & Townhomes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics · Report for the week of March 30, 2015 · Presented by Connor and Paris MacIvor / REMAX of Santa Clarita CA REMAX of Valencia CA / The Paris911 Team www.Paris911.com / [email protected] 661-400-1720 Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2014 Altos Research LLC City Overview Condos & Townhomes in CASTAIC, CA The Paris911 Team | www.Paris911.com | 661-400-1720 This Week Real-Time Market Profile The median list price in CASTAIC, CA this week is $395,000. The 5 properties have been on the market for an average of 85 days. $ 395,000 Average List Price $ 365,197 ±+ $ 227 ±+ Average Days on Market (DoM) 85 ≠≠ Inventory of Properties Listed 5 == Asking Price Per Square Foot With inventory trending up but dayson-market trending down and the Market Action Index essentially flat recently, conditions do not seem to have strong up or down pull. Trend Median List Price Most Expensive Listing $ 439,000 Least Expensive Listing $ 179,987 Average Age of Listing 13 Percent of Properties with Price Decrease 60 % Percent Relisted (reset DOM) 0% Percent Flip (price increased) 0% Median House Size (sq ft) 1667 Median Number of Bedrooms 3.0 Median Number of Bathrooms 2.5 Supply and Demand Altos Research Value Statistics The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing. Market Action Index Buyer's Advantage 28.0 ≠≠ 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. Trend Key: ±+ No change == Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend Characteristics per Quartile Quartile Median Price Sq. Ft. Beds Baths Age Inventory New Absorbed DOM Most expensive 25% of properties Top/First $ 439,000 1932 3.0 3.0 8 1 0 0 252 Upper/Second $ 428,000 1667 3.0 2.5 8 1 0 0 14 Upper-middle 25% of properties Lower/Third $ 395,000 1667 3.0 3.0 8 1 0 0 105 Lower-middle 25% of properties Bottom/Fourth $ 281,994 1412 2.5 2.2 22 2 1 0 28 Page 2 of 6 Monday March 30, 2015 Least expensive 25% of properties Condos & Townhomes in City Overview CASTAIC, CA The Paris911 Team | www.Paris911.com | 661-400-1720 Median Price Despite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift. 7-day Average 90-day Average Quartile Prices Prices have been mixed-to-negative trends in recent weeks. Quartile 4 is down, while the rest of the market is basically flat. Look to the Market Action Index to determine if this plateau is the stage for a prolonged price decline. First/Top Page 3 of 6 Second/Upper Third/Lower Monday March 30, 2015 Fourth/Bottom Condos & Townhomes in City Overview CASTAIC, CA The Paris911 Team | www.Paris911.com | 661-400-1720 Price per Square Foot The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 7-day Average Page 4 of 6 90-day Average Monday March 30, 2015 Condos & Townhomes in City Overview CASTAIC, CA The Paris911 Team | www.Paris911.com | 661-400-1720 Market Action Index The CASTAIC market is currently in the Buyer's Advantage zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 27.96 so buyers should expect to find reasonable levels of selection. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile The higher end of the market (Quartiles 1 and 2) is in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. The low-end of the market is where buyers are focusing more of their attention. Notice that Quartiles 1 and 2 (the higher half of the market) have a Market Action Index below 30 (Buyer's Market). 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 Monday March 30, 2015 Condos & Townhomes in City Overview CASTAIC, CA The Paris911 Team | www.Paris911.com | 661-400-1720 Days on Market The properties have been on the market for an average of 85 days. Half of the listings have come newly on the market in the past 42 or so days. 7-day Average 90-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 Page 6 of 6 Second/Upper Third/Lower Monday March 30, 2015 Fourth/Bottom
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