Altos Research-Leads Drip's Executive Summary

Monday July 4, 2011

VIRGINIA BEACH, VA
Single Family Homes

This Week
The median list price in VIRGINIA BEACH, VA this week is $339,900. The Market Action Index has been basically flat recently, and dayson-market decreasing, there are not strong signals for the direction of the market.

Real-Time Market Profile Median List Price $ 339,900 Asking Price Per Square Foot $ 151 Average Days on Market (DOM) 176 Percent of Properties with Price Decrease 37 % Percent Relisted (reset DOM) 10 % Percent Flip (price increased) 3% Median House Size (sq ft) 2226 Median Lot Size 0.25 - 0.50 acre Median Number of Bedrooms 4.0 Median Number of Bathrooms Market Action Index Strong Buyer's 2.5 16.4

Trend == +

Supply and Demand

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 prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

No change

== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend

Price
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.

Market Action Index

Price Trends

7-Day Rolling Average

90-Day Rolling Average

Buyer/Seller Cutoff

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 Seller's Market conditions. Below 30, conditions favor the buyer.

Quartiles
Quartile Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size
8,001 10,000 sqft 0.25 - 0.50 acre 0.25 - 0.50 acre

7-Day Rolling Average

90-Day Rolling Average

Characteristics per Quartile

Investigate the market in quartiles where each quartile is 25% of homes ordered by price.
Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Beds

Baths

Age Inventory New Absorbed DOM

$ 749,900 $ 400,000 $ 279,500 $ 199,000

3577 2600 2032

5.0 4.0 4.0 3.0

3.5 2.5 2.5 2.0

20 12 25 36

514 515 515 515

11 26 37 33

12 16 31 42

257 180 124 142

1440 not available

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