Jennifer Pritchett

MARKET UPDATE
MISSION VIEJO, CA

· Current Real Estate Market Conditions for Single Family Homes

· Trends in Pricing
· Current Levels of Supply and Demand
· Value Metrics

· Report for the week of

February 15, 2010

· Presented by Your Orange County Real Estate Connection

Coldwell Banker Residential Brokerage
jpritchett@coldwellbanke.com
949-212-5279

Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
 City Overview Single Family Homes in

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

MISSION VIEJO,
CA
This Week Real-Time Market Profile Trend
The median list price in MISSION Median List Price $ 549,900 ±+
VIEJO, CA this week is $549,900. The Average List Price $ 642,898
352 properties have been on the Asking Price Per Square Foot $ 286 ±+
market for an average of 159 days. Average Days on Market (DoM) 159 ≠≠

Inventory of Properties Listed 352 ==

Most Expensive Listing $ 3,675,000

With inventory trending up but days- Least Expensive Listing $ 295,000

on-market trending down and the Average Age of Listing 29

Market Action Index essentially flat Percent of Properties with Price Decrease 26 %
recently, conditions do not seem to Percent Relisted (reset DOM) 5%
have strong up or down pull. Percent Flip (price increased) 7%
Median House Size (sq ft) 1922
Median Lot Size 4,501 - 6,500 sqft
Median Number of Bedrooms 4.0

Supply and Demand

Median Number of Bathrooms 2.0

Altos Research Value Statistics

The market has shown some Market Action Index Strong Buyer's 20.4 ±+
evidence of slowing recently. Both 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
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

6,501 -
Top/First $ 854,450 3262 8,000 sqft 4.0 3.0 20 88 13 5 184 Most expensive 25% of properties

4,501 -
Upper/Second $ 599,900 2118 6,500 sqft 4.0 2.5 31 88 14 10 161 Upper-middle 25% of properties

4,501 -
Lower/Third $ 492,500 1650 6,500 sqft 3.0 2.0 34 88 12 10 137 Lower-middle 25% of properties

Less than
Bottom/Fourth $ 389,450 1437 4,500 sqft 3.0 2.0 34 88 15 9 155 Least expensive 25% of properties

Page 2 of 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA

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

7-day Average 90-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 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA

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 90-day Average

Page 4 of 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA

Market Action Index

The MISSION VIEJO market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 20.40. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of
inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market
shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before 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.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 5 of 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA

Days on Market
The properties have been on the market for an average of 159 days. Half of the listings have come newly on the market in the
past 84 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 Second/Upper Third/Lower Fourth/Bottom

Page 6 of 16 Monday February 15, 2010

 Neighborhood Detail Single Family Homes in

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

MISSION VIEJO,
CA 92692
This Week Real-Time Market Profile Trend
The median list price in MISSION Median List Price $ 571,500 ≠≠
VIEJO, CA 92692 this week is Average List Price $ 708,807
$571,500. The 210 properties have Asking Price Per Square Foot $ 286 ==
been on the market for an average of Average Days on Market (DoM) 150 ≠≠
150 days. Inventory of Properties Listed 210 ==

Most Expensive Listing $ 3,675,000

With inventory trending up but days- Least Expensive Listing $ 295,000

on-market trending down and the Average Age of Listing 24

Market Action Index essentially flat Percent of Properties with Price Decrease 29 %
recently, conditions do not seem to Percent Relisted (reset DOM) 5%
have strong up or down pull. Percent Flip (price increased) 6%
Median House Size (sq ft) 2000
Median Lot Size 4,501 - 6,500 sqft
Median Number of Bedrooms 4.0

Supply and Demand

Median Number of Bathrooms 2.5

Altos Research Value Statistics

The market has shown some Market Action Index Strong Buyer's 17.3 ±+
evidence of slowing recently. Both 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
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

6,501 -
Top/First $ 909,450 3477 8,000 sqft 4.0 3.0 20 52 6 2 195 Most expensive 25% of properties

4,501 -
Upper/Second $ 669,950 2348 6,500 sqft 4.0 2.5 21 52 10 4 158 Upper-middle 25% of properties

4,501 -
Lower/Third $ 525,000 1740 6,500 sqft 3.0 2.0 23 53 10 3 110 Lower-middle 25% of properties

Less than
Bottom/Fourth $ 375,000 1439 4,500 sqft 2.0 1.0 33 53 11 1 135 Least expensive 25% of properties

Page 7 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92692

Median Price
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their
absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading
indicator for a trough in prices.

7-day Average 90-day Average

Quartile Prices
In the quartile market segments, we see prices in this zip code 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 8 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92692

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.

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 90-day Average

Page 9 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92692

Market Action Index

The MISSION VIEJO, 92692 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action
Index stands at 17.32. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of
demand. Watch the quartiles for changes before the overall market shifts.

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.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 10 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92692

Days on Market
The properties have been on the market for an average of 150 days. Half of the listings have come newly on the market in the
past 80 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 Second/Upper Third/Lower Fourth/Bottom

Page 11 of 16 Monday February 15, 2010

 Neighborhood Detail Single Family Homes in

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

MISSION VIEJO,
CA 92691
This Week Real-Time Market Profile Trend
The median list price in MISSION Median List Price $ 523,950 ==
VIEJO, CA 92691 this week is Average List Price $ 545,427
$523,950. The 142 properties have Asking Price Per Square Foot $ 284 ≠≠
been on the market for an average of Average Days on Market (DoM) 174 ≠≠
174 days. Inventory of Properties Listed 142 ≠≠

Most Expensive Listing $ 1,250,000

Inventory has been tightening and Least Expensive Listing $ 299,000

days-on-market decreasing recently. Average Age of Listing 37

The Market Action Index has been Percent of Properties with Price Decrease 23 %
basically flat, not providing strong Percent Relisted (reset DOM) 6%
indication for market conditions. Percent Flip (price increased) 8%
Median House Size (sq ft) 1853
Median Lot Size 6,501 - 8,000 sqft
Median Number of Bedrooms 4.0

Supply and Demand

Median Number of Bathrooms 2.0

Altos Research Value Statistics

The market has shown some Market Action Index Buyer's Advantage 23.5 ±+
evidence of slowing recently. Both 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
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

6,501 -
Top/First $ 695,000 2660 8,000 sqft 4.0 2.5 36 35 4 5 206 Most expensive 25% of properties

6,501 -
Upper/Second $ 554,900 2066 8,000 sqft 4.0 2.0 40 35 3 6 129 Upper-middle 25% of properties

6,501 -
Lower/Third $ 472,450 1572 8,000 sqft 3.5 2.0 37 36 6 6 168 Lower-middle 25% of properties

4,501 -
Bottom/Fourth $ 410,000 1446 6,500 sqft 3.0 2.0 36 36 4 7 193 Least expensive 25% of properties

Page 12 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92691

Median Price
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the
Market Action Index to predict how long this trend will last.

7-day Average 90-day Average

Quartile Prices
In the quartile market segments, we see prices in this zip code 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 13 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92691

Price per Square Foot

This is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at first
glance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining.
Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also getting
more for their money.

7-day Average 90-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.

7-day Average 90-day Average

Page 14 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92691

Market Action Index

The MISSION VIEJO, 92691 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day
Market Action Index stands this week at 23.48 so buyers should expect find reasonable levels of selection.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of
demand. Watch the quartiles for changes before the overall market shifts.

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.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 15 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
MISSION VIEJO,
CA 92691

Days on Market
The properties have been on the market for an average of 174 days. Half of the listings have come newly on the market in the
past 94 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 Second/Upper Third/Lower Fourth/Bottom

Page 16 of 16 Monday February 15, 2010