Real Estate Market Update for Fullerton California

8/9/2019 Real Estate Market Update for Fullerton California

1/22

Current prices for homes on the mark

Trends in priciCurrent levels of supply and dema

Value metri

market updat

Adam Brett - Eric Urba

FULLERTO

Sunday August 15, 20

Report for the week

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2/22

Adam Brett - Eric Urban | www.RealtorAdam.com | 714.496.8116

The median single family home price

in FULLERTON this week is $549,850.

The 528 homes have been on the

market for an average of 130 days.

THIS WEEK

Most Expensive Listing

Least Expensive Listing

Median List Price

Average List Price

Real-Time Market Profile Trend

Total Inventory

$ 549,850

$ 598,407

$ 3,750,000

$ 120,000

528

130Average Days on Market

Asking Price per Square Foot $ 282

29Absorbed This Week*

Percent of Properties with Price Decrease 43 %

Percent Relisted (reset DOM) 14 %

Percent Flip (price increased) 10 %

City Overview FULLERTON

6,501 - 8,000 sq ft

Altos Research Value Statistics

Market Action Index

Median Number of Bedrooms

Median Number of Bathrooms

Median House Size (sq ft)

Median Lot Size

Median Age

1,857

4.0

2.0

48

17Cold! Buyer's Market

Altos Research calculates the Market Action Index which measures available supplyrelative to the current level of demand. Index value above 30 indicates conditions favorthe seller. See the section below for full details.

With inventory trending up but days-

on-market and the Market Action Indeessentially flat recently, conditions

don't seem to have strong up or down

pull.

To get a tightly targeted understanding

of homes in the market, we break eachlocale into quartiles. Each quartile is

25% of the homes listed.

QUARTILES

Characteristics per Quartile

Last Month's Trend Last Quarter's Trend

Trend Key

No Clear Monthly/Quarterly Trend

Bed BathMed.Sqft.

Med.Age Inven. New

Ab-sorbedMed. Lot SizeMedian PriceQuart

Avg.DoM

*Metric "Absorbed this Week" covers properties sold and those taken off the market for other reasons.Since sales sometimes take months to close, it is impossible to discern in real-time exactly which propertiessold.

Most expensive 25% of homes2,953 4.0 2.5 24 132 8 8Less than

4,500 sq ft$ 851,4501 115

Upper-middle 25% of homes2,149 4.0 2.0 39 132 7 6Less than

4,500 sq ft$ 649,0002 135

Lower-middle 25% of homes1,588 3.0 2.0 53 132 7 64,501 - 6500

sq ft$ 449,0003 129

Least expensive 25% of homes1,213 3.0 1.0 56 132 17 94,501 - 6500

sq ft$ 324,9004 143

We'll refer to the quartiles in the trend

graphs below.

Adam Brett - Eric Urban Market Update for FULLERTON


3/22


PRICE

The market has been on a downward

trend recently and this week, while

essentially flat, doesn't break us out of

that cycle.

QUARTILE PRICES

Prices have generally settled at a

plateau, although Quartile 3 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 thes

levels.

Often, we find insights by watching

pricing trends within the quartile

segments.



4/22


In a market where prices are rising

fairly consistently, price per square foo

is essentially flat. This often implies

that new homes coming on the market

are pricier, and also larger than older

homes. As a result the value one canbuy stays the same.

PRICE AND VALUE

INVENTORY

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.



5/22


The FULLERTON market is currently

quite strongly in the Buyer's Market

zone (below 30). The 90-day Market

Action Index stands at 17. With several

months of inventory available at the

current sales rate, buyers should find

ample choice.

Inventory levels have been relatively

consistent relative to sales. Despite the

fact that there is a relatively high

amount of available inventory, this

Buyer's market is still seeing pricesmove higher. Given inventory levels,

these price conditions are relatively

fragile. If the market cools off further,

the price trend is likely to reverse.

The Market Action Index (MAI) illustrates the balance between supply and demand using a

statistical function of the current rate of sale versus current inventory.

An MAI value greater than 30 typically indicates a Seller's Market (a.k.a. "Hot Market")because demand is high enough to quickly gobble up available supply. A hot market willtypically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "ColdMarket") where the inventory of already-listed homes is sufficient to last several months atthe current rate of sales. A cold market will typically cause prices to fall.

MARKET ACTION INDEXResidential house prices are a function of supply and demand, and market conditions can becharacterized by analyzing those factors. Watch this index for sustained changes: if the indexfalls into the Buyers Market zone for a long period, prices are likely in for a downwardcorrection.

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 change

before the overall market shifts. Often

one end of the market (e.g. the low end)

will improve and signal a strengtheningmarket before the whole group changes

The quartiles can help you answer the question, "How hot is the market for homes in my pricerange?"

MARKET ACTION QUARTILES



6/22


DAYS ON MARKET (DOM)

The properties have been on the

market for an average of 130 days. Half

of the listings have come newly on the

market in the past 84 or so days.

DOM 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.



7/22


92835Neighborhood DetailFULLERTON



Median List Price

Average List Price


Total Inventory

$ 729,900

$ 836,607

$ 3,590,000

$ 259,000

134



5Absorbed This Week


in FULLERTON 92835 this week is

$729,900.

THIS WEEK




Median Lot Size

Median Age

2,420

4.0

2.0

43Altos Research Value Statistics

4,501 - 6500 sq ft

Market Action Index 14Cold! Buyer's Market

Inventory and days-on-market are

climbing, while the Market Action Inde

has been flat recently. The trends point

to a weakening market.

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 seeprices move from these levels.



8/22


PRICE PER QUARTILE

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 pricemove from these current levels.

QUARTILESCharacteristics per Quartile

Bed BathMed. SqftMed.Age Inven. New


Avg.DoM


4,500 sq ft$ 1,250,0001 152


4,500 sq ft$ 819,0002 91

Lower-middle 25% of homes2,170 4.0 2.0 45 34 1 1Less than

4,500 sq ft$ 650,0003 120

Least expensive 25% of homes1,798 3.0 2.0 39 34 0 1Less than

4,500 sq ft$ 499,4504 204

While prices have been basically flat,

the price per square foot has been

heading downward. While not a sign of

broad strength in a market, larger

homes are coming more available and

buyers are tending to get more home

for their money.

PRICE AND VALUE



9/22


10/22


DAYS ON MARKETThe properties have been on the marke

for an average of 142 days. Half of the

listings have come newly on the market

in the past 84 or so days. Watch the 90-

day DOM trend for signals of a changin

market.

DAYS ON MARKET

It is not uncommon for

the higher priced homes in an area

(Quartiles 1 and 2) to take longer to

sell than those in the lower quartiles.

1Adam Brett - Eric Urban Market Update for FULLERTON


11/22





Median List Price

Average List Price


Total Inventory

$ 449,900

$ 515,503

$ 1,250,000

$ 195,000

238



13Absorbed This Week



$449,900.

THIS WEEK




Median Lot Size

Median Age

1,764

4.0

2.0


4,501 - 6500 sq ft


With inventory trending up but days-

on-market and the Market Action Inde

essentially flat recently, conditions

don't seem to have strong up or downpull.

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 seeprices move from these levels.



12/22


PRICE PER QUARTILE


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 pricemove from these current levels.




Avg.DoM


4,500 sq ft$ 759,0001 127


4,500 sq ft$ 599,0002 152


sq ft$ 375,0003 130


sq ft$ 309,0004 146

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.

PRICE AND VALUE



13/22


INVENTORY

Inventory has been climbing lately with

238 properties available this week. Note

that rising inventory alone does not

signal a weakening market. Look to the

Market Action Index to gauge whether

buyer interest is keeping up withavailable supply.

The FULLERTON 92833 is quite strongly

in the Buyer's Market zone. The 90-day

Market Action Index stands at 18. With

several months of inventory availableat the current sales rate, buyers should

find ample choice.

MARKET ACTION INDEX


Not surprisingly, all quartiles are in theBuyer's Market zone with several


levels of demand. Watch the quartiles

for changes before the overall market

shifts.



14/22







market.

DAYS ON MARKET







15/22





Median List Price

Average List Price


Total Inventory

$ 372,500

$ 440,062

$ 1,300,000

$ 120,000

64



6Absorbed This Week



$372,500.

THIS WEEK




Median Lot Size

Median Age

1,324

3.0

1.5


4,501 - 6500 sq ft

Market Action Index 21Cool. Buyer's Market

Inventory has been tightening and

days-on-market increasing recently.

The Market Action Index has been

basically flat, not providing strongindication for market conditions.

PRICE

In this zip code this week saw relatively

little price change from last week.

However, we continue to demonstrate a

nice up trend in general over the lastseveral weeks.



16/22


PRICE PER QUARTILE


pricing across most of the zip code

relatively strong recently. While

Quartile 4 is basically flat, all other

segments are in an up trend period.

Unless the Market Action Index has apersistent downward shift, expect that

Quartile 4 will assume a similar trend

with the other groups.




Avg.DoM

Most expensive 25% of homes2,350 4.0 2.5 65 16 2 08,001 - 10,000

sq ft$ 657,4001 97

Upper-middle 25% of homes1,376 3.0 1.0 61 16 2 24,501 - 6500

sq ft$ 427,2502 117


sq ft$ 342,2503 136


sq ft$ 274,9504 96

In a market where prices are rising

fairly consistently, price per square foo

is essentially flat. This often implies

that new homes coming on the market

are pricier, and also larger than older

homes. As a result the value one can

buy stays the same.

PRICE AND VALUE



17/22


INVENTORY







The FULLERTON 92832 market is

currently in the 'Buyer's Market' zone

(below 30), though not strongly so. The

90-day Market Action Index stands thisweek at 21 so buyers should expect to

find reasonable levels of selection.

MARKET ACTION INDEX






shifts.



18/22







market.

DAYS ON MARKET







19/22





Median List Price

Average List Price


Total Inventory

$ 538,500

$ 579,791

$ 3,750,000

$ 250,000

90



5Absorbed This Week



$538,500.

THIS WEEK




Median Lot Size

Median Age

1,821

3.5

2.0


6,501 - 8,000 sq ft


Days-on-market has been trending up

recently but the Market Action Index

and inventory levels are basically flat

and not providing strong indications fothe market.

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.



20/22


PRICE PER QUARTILE


prices in this zip code without strong

directional indication lately. Quartiles 1

and 4 are mixed, while Quartile 3 is up

and Quartile 2 is down. Look to

persistent shifts in the Market ActionIndex as a leading indicator for strong

moves (up or down) in the market as a

whole.




Avg.DoM


4,500 sq ft$ 797,0001 96

Upper-middle 25% of homes1,888 3.0 2.0 49 22 1 26,501 - 8,000

sq ft$ 599,0002 94

Lower-middle 25% of homes1,612 4.0 1.0 53 23 1 26,501 - 8,000

sq ft$ 479,9003 125


sq ft$ 350,0004 114

Despite recently falling prices, the price

per square foot has stayed reasonably

flat. This implies that there's a portion

of the market being priced at a

premium. You can investigate this

condition in the quartile details.

PRICE AND VALUE



21/22


INVENTORY







The FULLERTON 92831 is quite strongly

in the Buyer's Market zone. The 90-day

Market Action Index stands at 16. With

several months of inventory availableat the current sales rate, buyers should

find ample choice.

MARKET ACTION INDEX






shifts.



22/22







market.

DAYS ON MARKET





About Altos Research CorporationAltos Research Corp. reports real-time analysis of the residential real estate market in local markets acrossthe country. All information contained herein is based on properties currently listed for sale and available

publicly. When evaluating a particular property, make sure you use comparable sales data in addition tothe market trend information available in this report. The data presented in this report is accurate to thebest of our knowledge, but cannot be guaranteed as such. Use this report as one input in the real estatedecision making process, but do not rely on it for accuracy. Nothing in this report or any other AltosResearch publication is a recommendation to buy or to sell real estate. We recommend you work with alicensed real estate agent or broker.

Altos Research LLC Copyright 2005-2010. All Rights Reserved www.altosresearch.com
http://www.altosresearch.com/http://www.altosresearch.com/

Real Estate Market Update for Fullerton California

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