04 30 12 Market Update [Sf] Az Cave Creek-2
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Transcript of 04 30 12 Market Update [Sf] Az Cave Creek-2
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8/2/2019 04 30 12 Market Update [Sf] Az Cave Creek-2
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MARKET UPDATEKelli Grant Realty Group
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
April 30, 2012
Presented by Kelli Grant Group Moving People Through Good DeedsPlatinum Premier [email protected](623) 239-4402
CAVE CREEK,
Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC
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Median List Price
Median Lot Size
19.6
Percent Relisted (reset DOM)
2894
3.0
6 %
Median Number of Bathrooms
166
Inventory of Properties Listed
$ 152
Percent Flip (price increased)
5.0 - 10 acres
Median House Size (sq ft)
$ 400,000
35 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
n/a
Percent of Properties with Price Decrease
Strong Buyer's
+
+
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
ottom/Fourth
Lower/Third
Upper/Second
Top/First
This WeekReal-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
10 24010
1292.5 13
3.0
13
166
4.0 59
83
8
11
5.0 - 10acres
15
$ 369,000
6
0
60
4.0
not available
53.0
1846 not available
59
$ 242,175
4.0
287
not available$ 499,000
4.0$ 999,000
12
6
3096
With inventory and days-on-marketbasically unchanged and the MarketAction Index increasing, the market isnot sending strong directional signalfor the near-term outlook.
Monday April 30, 2012
Kelli Grant Group | www.PhoenixHomeResource.com
59
2840
2.0
The median list price in CAVE CREEK,AZ this week is $400,000. The 237
properties have been on the marketfor an average of 166 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+
==
=
CAVE CREEK,
City Overview
Least Expensive Listing
Average List Price
Average Age of Listing
237
$ 6,400,000
$ 60,000
$ 616,380
15
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.
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Single Family Home
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewCAVE CREEK,
Monday April 30, 2012
Median PriceAgain this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-highlevels. The Market Action Index is a good leading indicator for the durability of this trend.
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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Single Family Hom
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewCAVE CREEK,
Monday April 30, 2012
Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.
90-day Average7-day Average
Inventory of Properties Listed for Sale
Inventory has been relatively steady around these levels in recent weeks.
90-day Average7-day Average
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Single Family Hom
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewCAVE CREEK,
Monday April 30, 2012
Market Action IndexThe CAVE CREEK market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 19.65. 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
changes.
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 characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.
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Single Family Hom
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewCAVE CREEK,
Monday April 30, 2012
Days on MarketThe properties have been on the market for an average of 166 days. Half of the listings have come newly on the market in thepast 77 or so days.
90-day Average7-day Average
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
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Single Family Hom