Dennis Blackmore's market update

VIRGINIA BEACH
Sunday April 11, 2010
Real-Time Market Profile Trend
Median List Price THIS WEEK
$ 349,900 The median single family home price
Asking Price per Square Foot $ 159 in VIRGINIA BEACH this week is
Average Days on Market 185 $349,900.
Percent of Properties with Price Decrease 36 %
Percent Relisted (reset DOM) 15 %
Percent Flip (price increased) 4%
Median House Size (sq ft) 2,219
Median Lot Size 0.25 - 0.50 acre Inventory is tightening and days-on-
Median Number of Bedrooms 4.0 market is falling. The Market Action
Median Number of Bathrooms 3.0 Index shows demand heating up. These
Market Action Index* Cold! Buyer's Market 14 are relatively bullish signs for prices.
* see below for details on the Market Action Index

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.

The Market Action Index answers the question "How's the Market?" By measuring the SUPPLY AND DEMAND
current rate of sale versus the amount of the inventory.
Local conditions are currently quite
strongly in the Buyer's Market zone
(below 30). The 90-day Market Action
Index stands at 14. With several months
of inventory available at the current
sales rate, buyers should find ample
choice.

Index above 30 implies Seller's Market conditions. Below 30, conditions favor the
buyer.
QUARTILES
Characteristics per Quartile Investigate the market in
Med. Med. Ab- Avg.
quartiles—where each quartile is 25%
Quart Median Price Sqft Med. Lot Size Bed Bath Age Inven. New sorbed DoM of the homes listed.
0.25 - 0.50 acre
1 $ 764,500 3,522 5.0 4.0 17 564 21 18 275 Most expensive 25% of homes
0.25 - 0.50 acre
2 $ 419,000 2,666 4.0 3.0 12 564 44 24 201 Upper-middle 25% of homes
8,001 - 10,000
3 $ 289,900 2,000 sq ft 4.0 3.0 24 564 70 42 127 Lower-middle 25% of homes
6,501 - 8,000
4 $ 212,800 1,424 sq ft 3.0 2.0 33 565 46 50 137 Least expensive 25% of homes

Dennis Blackmore | www.DennisBlackmore.com | (757) 343-4949 homes@757re.com

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