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Monday November 30, 2009

Your Local Executive VENICE, CA


Summary Condos - Townhomes - TICs

This Week
Real-Time Market Profile Trend
Median List Price $ 900,000 ≠≠
Asking Price Per Square Foot $ 685 ±+
The median list price in VENICE, CA this week is $900,000. Average Days on Market (DOM) 168 ≠≠
Percent of Properties with Price Decrease 31 %
Percent Relisted (reset DOM) 17 %
Inventory is tightening and days-on-market is falling. But demand
as measured by the Market Action Index is also trending down. The Percent Flip (price increased) 3%
market is not giving strong up or down signals from these data. Median House Size (sq ft) 1451
Median Number of Bedrooms 2.0
Median Number of Bathrooms 2.0
Market Action Index Strong Buyer's 16.2 ≠≠

Supply and Demand


The market has been consistently cool for several weeks. Demand ±+ No change == Strong upward trend ≠≠ Strong downward trend
level are low relative to the available inventory. It's a Buyer's
market and prices continue to fall. Look for a persistent shift in
= Slight upward trend ≠ Slight downward trend
Market Action before prices plateau or begin to rise again.

Price
Market Action Index 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.

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
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.
Quartile Median Price Square Feet Beds Baths Age Inventory New Absorbed DOM

Top/First $ 1,767,500 2700 2.5 2.5 8 0 1 59 Most expensive 25% of properties

Upper/Second $ 1,079,000 1860 2.0 2.0 9 0 0 189 Upper-middle 25% of properties

Lower/Third $ 819,000 1383 2.0 1.0 9 0 0 131 Lower-middle 25% of properties

Bottom/Fourth $ 599,000 912 2.0 1.0 24 9 0 0 279 Least expensive 25% of properties

Pickford Escrow

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