Market Update: Jennifer Pritchett

Jennifer Pritchett
MARKET UPDATE
NEWPORT BEACH, 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

NEWPORT
BEACH, CA
This Week Real-Time Market Profile Trend
The median list price in NEWPORT Median List Price $ 1,895,000 ≠≠
BEACH, CA this week is $1,895,000. Average List Price $ 2,726,258
The 379 properties have been on the Asking Price Per Square Foot $ 665 ≠≠
market for an average of 262 days. Average Days on Market (DoM) 262 ±+
Inventory of Properties Listed 379 ==
Most Expensive Listing $ 32,600,000

The Market Action Index has been Least Expensive Listing $ 495,000
trending down lately, while inventory Average Age of Listing 33

is climbing. These trends imply a Percent of Properties with Price Decrease 29 %
weakening market. Percent Relisted (reset DOM) 11 %
Percent Flip (price increased) 3%
Median House Size (sq ft) 2736
Median Lot Size 4,501 - 6,500 sqft
Median Number of Bedrooms 4.0
Supply and Demand

Median Number of Bathrooms 3.0
Altos Research Value Statistics

The market has shown some Market Action Index Strong Buyer's 16.8 ≠≠
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
Less than
Top/First $ 4,442,000 4126 4,500 sqft 4.0 4.0 19 94 5 3 286 Most expensive 25% of properties
4,501 -
Upper/Second $ 2,450,000 3400 6,500 sqft 4.0 3.5 13 95 9 2 261 Upper-middle 25% of properties
Less than
Lower/Third $ 1,675,000 2450 4,500 sqft 4.0 2.5 45 95 8 3 272 Lower-middle 25% of properties
4,501 -
Bottom/Fourth $ 899,000 1928 6,500 sqft 3.0 2.0 46 95 6 3 231 Least expensive 25% of properties
Page 2 of 26 Monday February 15, 2010

Single Family Homes in
City Overview
NEWPORT
BEACH, CA
Median Price
The market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
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

City Overview
NEWPORT
BEACH, CA
Price per Square Foot

The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can
see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a
precursor to price and value changes, possibly as inflection points for good investment opportunities.
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.

City Overview
NEWPORT
BEACH, CA
Market Action Index

The NEWPORT BEACH market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action
Index stands at 16.84. 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
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.

City Overview
NEWPORT
BEACH, CA
Days on Market
The properties have been on the market for an average of 262 days. Half of the listings have come newly on the market in the
past 203 or so days.
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.

Neighborhood Detail Single Family Homes in

NEWPORT
BEACH, CA
The median list price in NEWPORT Median List Price $ 2,147,450 ==
BEACH, CA 92663 this week is Average List Price $ 2,723,961
$2,147,450. The 140 properties have Asking Price Per Square Foot $ 786 ≠≠
been on the market for an average of Average Days on Market (DoM) 266 ≠≠
266 days. Inventory of Properties Listed 140 ==

With inventory trending up but days- Least Expensive Listing $ 495,000
on-market trending down and the Average Age of Listing 36

Market Action Index essentially flat Percent of Properties with Price Decrease 28 %
recently, conditions do not seem to Percent Relisted (reset DOM) 12 %
have strong up or down pull. Percent Flip (price increased) 1%
Median Lot Size Less than 4,500 sqft
Supply and Demand


Inventory levels have been relatively Market Action Index Strong Buyer's 15.9 ±+
consistent relative to sales. Despite The Market Action Index answers the question "How's the Market?" By measuring
the fact that there is a relatively implies a seller's advantage. Below 30, conditions give the advantage to the
high amount of available inventory, buyer.
this Buyer's market is still seeing
prices move higher. Given inventory Trend Key: == Strong upward trend ≠≠ Strong downward trend
levels, these price conditions are ±+ No change = Slight upward trend ≠ Slight downward trend
relatively fragile. If the market
cools off further, the price trend is
likely to reverse.
Less than
4,501 -
Less than
Less than

Neighborhood Detail
NEWPORT
BEACH, CA
Median Price
Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high
point, 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 Prices
In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 2 is on a bit of
an up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the
board move from these levels.

Neighborhood Detail
NEWPORT
BEACH, CA

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.


Neighborhood Detail
NEWPORT
BEACH, CA
Market Action Index

The NEWPORT BEACH, 92663 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market
Action Index stands at 15.94. With several months of inventory available at the current sales rate, buyers should find ample
choice.

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.

Neighborhood Detail
NEWPORT
BEACH, CA
Days on Market



NEWPORT
BEACH, CA
The median list price in NEWPORT Median List Price $ 1,660,000 ±+
$1,660,000. The 163 properties have Asking Price Per Square Foot $ 543 ±+
been on the market for an average of Average Days on Market (DoM) 251 ±+

The Market Action Index has been Least Expensive Listing $ 539,900
trending down lately, while inventory Average Age of Listing 30

is climbing. These trends imply a Percent of Properties with Price Decrease 31 %
weakening market. Percent Relisted (reset DOM) 10 %
Median Lot Size 6,501 - 8,000 sqft
Supply and Demand


The market has shown some Market Action Index Strong Buyer's 17.8 ≠≠
evidence of slowing recently. Both The Market Action Index answers the question "How's the Market?" By measuring
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
0.25 - 0.50
Top/First $ 3,672,500 5220 acre 5.0 4.5 22 40 1 1 284 Most expensive 25% of properties
6,501 -
6,501 -
Less than

Neighborhood Detail
NEWPORT
BEACH, CA
Median Price
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index
before we see prices move from these levels.
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.

Neighborhood Detail
NEWPORT
BEACH, CA

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.


Neighborhood Detail
NEWPORT
BEACH, CA
Market Action Index

choice.


Neighborhood Detail
NEWPORT
BEACH, CA
Days on Market



NEWPORT
BEACH, CA
$3,487,500. The 36 properties have Asking Price Per Square Foot $ 1,272 ≠≠
been on the market for an average of Average Days on Market (DoM) 268 ≠≠

Inventory is up and Market Action is Least Expensive Listing $ 1,199,000
trending down recently. While days- Average Age of Listing 38

on-market appears to be trending Percent of Properties with Price Decrease 22 %
lower, the overall conditions are Percent Relisted (reset DOM) 6%
weakening a bit. Percent Flip (price increased) 3%
Supply and Demand


The market has been consistently Market Action Index Strong Buyer's 13.6 ≠≠
cool for several weeks. Demand The Market Action Index answers the question "How's the Market?" By measuring
level are low relative to the implies a seller's advantage. Below 30, conditions give the advantage to the
available inventory. It's a Buyer's buyer.
market and prices continue to fall.
Look for a persistent shift in Market Trend Key: == Strong upward trend ≠≠ Strong downward trend
Action before prices plateau or begin ±+ No change = Slight upward trend ≠ Slight downward trend
to rise again.
Less than
Less than
Less than
Less than
Bottom/Fourth $ 1,495,000 1608 4,500 sqft 3.0 2.0 60 9 0 0 272 Least expensive 25% of properties

Neighborhood Detail
NEWPORT
BEACH, CA
Median Price
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that
cycle.
Quartile Prices
In the quartile market segments, we see the market's price weakness evident across the board. All four quartiles have been in
price decline in recent weeks. Look to the Market Action Index as a leading indicator of the bottom of the market.

Neighborhood Detail
NEWPORT
BEACH, CA



Neighborhood Detail
NEWPORT
BEACH, CA
Market Action Index

choice.


Neighborhood Detail
NEWPORT
BEACH, CA
Days on Market



NEWPORT
BEACH, CA
$2,572,500. The 40 properties have Asking Price Per Square Foot $ 1,050 ≠≠
been on the market for an average of Average Days on Market (DoM) 285 ==

Inventory and days-on-market are Least Expensive Listing $ 1,095,000
climbing, while the Market Action Average Age of Listing 35

Index has been flat recently. The Percent of Properties with Price Decrease 30 %
trends point to a weakening market. Percent Relisted (reset DOM) 12 %
Supply and Demand


In terms of supply and demand, the Market Action Index Strong Buyer's 10.8 ±+
market is getting cooler - more The Market Action Index answers the question "How's the Market?" By measuring
supply is coming on the market implies a seller's advantage. Below 30, conditions give the advantage to the
relative to the sales demand. buyer.
However, in recent weeks prices
have been moving higher. Since it is Trend Key: == Strong upward trend ≠≠ Strong downward trend
technically a Buyer's market, this ±+ No change = Slight upward trend ≠ Slight downward trend
price trend may be a result of
improved quality (newer, larger
homes) of the homes being listed.
Look at the descriptive statistics
Less than
Less than
Less than
Less than
Bottom/Fourth $ 1,535,000 1661 4,500 sqft 3.0 1.5 66 10 0 0 439 Least expensive 25% of properties

Neighborhood Detail
NEWPORT
BEACH, CA
Median Price
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that
cycle.
Quartile Prices
In most of the quartile market segments, we see prices in this zip code have stabilized recently. Only Quartile 4 shows any price
increases in the last few weeks. Often this condition happens in markets where demand has fallen (for example, due to micro-
location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.

Neighborhood Detail
NEWPORT
BEACH, CA



Neighborhood Detail
NEWPORT
BEACH, CA
Market Action Index

choice.


Neighborhood Detail
NEWPORT
BEACH, CA
Days on Market


Market Update: Jennifer Pritchett

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Jennifer Pritchett

· Current Real Estate Market Conditions for Single Family Homes

· Report for the week of

· Presented by Your Orange County Real Estate Connection

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

Inventory of Properties Listed 379 ==

Most Expensive Listing $ 32,600,000

trending down lately, while inventory Average Age of Listing 33

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile

Page 2 of 26 Monday February 15, 2010

7-day Average 90-day Average

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 3 of 26 Monday February 15, 2010

Price per Square Foot

7-day Average 90-day Average

Inventory of Properties Listed for Sale

7-day Average 90-day Average

Page 4 of 26 Monday February 15, 2010

Market Action Index

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 5 of 26 Monday February 15, 2010

7-day Average 90-day Average

Days on Market per Quartile

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 6 of 26 Monday February 15, 2010

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

Most Expensive Listing $ 23,900,000

on-market trending down and the Average Age of Listing 36

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile

Page 7 of 26 Monday February 15, 2010

7-day Average 90-day Average

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 8 of 26 Monday February 15, 2010

Price per Square Foot

7-day Average 90-day Average

Inventory of Properties Listed for Sale

7-day Average 90-day Average

Page 9 of 26 Monday February 15, 2010

Market Action Index

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 10 of 26 Monday February 15, 2010

7-day Average 90-day Average

Days on Market per Quartile

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 11 of 26 Monday February 15, 2010

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

Most Expensive Listing $ 32,600,000

trending down lately, while inventory Average Age of Listing 30

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile