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David Wright's

MARKET UPDATE
BREA, CA

· 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


February 15, 2010

· Presented by David Wright


Wright Realty
www.wrightrealtyservice.com - david@wrightrealtyservice.com
7144429692

Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
City Overview Single Family Homes in

David Wright | Wright Realty | 7144429692


BREA, CA

This Week Real-Time Market Profile Trend


The median list price in BREA, CA this Median List Price $ 499,000 ≠≠
week is $499,000. The 110 properties Average List Price $ 533,544
have been on the market for an Asking Price Per Square Foot $ 266 ==
average of 144 days. Average Days on Market (DoM) 144 ==

Inventory of Properties Listed 110 ±+

Most Expensive Listing $ 1,799,000


Days-on-market has been trending up Least Expensive Listing $ 149,000

recently but the Market Action Index Average Age of Listing 34


and inventory levels are basically flat Percent of Properties with Price Decrease 30 %
and not providing strong indications Percent Relisted (reset DOM) 12 %
for the market. Percent Flip (price increased) 7%
Median House Size (sq ft) 1942
Median Lot Size 4,501 - 6,500 sqft
Median Number of Bedrooms 3.5

Supply and Demand


Median Number of Bathrooms 2.0

Altos Research Value Statistics


The market has settled in at a Market Action Index Strong Buyer's 22.4 ±+
relative stasis in inventory and sales 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
conditions. It's a Buyer's market that implies a seller's advantage. Below 30, conditions give the advantage to the
has seen prices trend lower. Expect buyer.
that consistent up trends in demand
will be required before price trends Trend Key: == Strong upward trend ≠≠ Strong downward trend
change significantly. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

6,501 -
Top/First $ 699,900 2956 8,000 sqft 4.0 2.5 8 27 1 3 158 Most expensive 25% of properties

4,501 -
Upper/Second $ 535,000 2100 6,500 sqft 4.0 2.0 41 27 3 5 136 Upper-middle 25% of properties

6,501 -
Lower/Third $ 475,000 1700 8,000 sqft 3.0 2.0 45 28 2 2 99 Lower-middle 25% of properties

4,501 -
Bottom/Fourth $ 357,400 1328 6,500 sqft 3.0 1.8 39 28 3 1 182 Least expensive 25% of properties

Page 2 of 16 Monday February 15, 2010


Single Family Homes in
City Overview
David Wright | Wright Realty | 7144429692
BREA, CA

Median Price
The market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

7-day Average 90-day Average

Quartile Prices
While prices in the upper half of the market has shown essentially mixed pricing lately, the lower half of the market is trending
lower. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1 and 2 remaining basically flat. Look to the
Market Action Index as a leading indicator of the bottom of the market.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 3 of 16 Monday February 15, 2010


Single Family Homes in
City Overview
David Wright | Wright Realty | 7144429692
BREA, CA

Price per Square Foot


We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually
increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-
location variables.

7-day Average 90-day Average

Inventory of Properties Listed for Sale


Inventory has been relatively steady around these levels in recent weeks.

7-day Average 90-day Average

Page 4 of 16 Monday February 15, 2010


Single Family Homes in
City Overview
David Wright | Wright Realty | 7144429692
BREA, CA

Market Action Index


The BREA market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at
22.35. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile


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 changes before the overall market
shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

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 characterized by
analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage
zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 5 of 16 Monday February 15, 2010


Single Family Homes in
City Overview
David Wright | Wright Realty | 7144429692
BREA, CA

Days on Market
The properties have been on the market for an average of 144 days. Half of the listings have come newly on the market in the
past 91 or so days.

7-day Average 90-day Average

Days on Market 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.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 6 of 16 Monday February 15, 2010


Neighborhood Detail Single Family Homes in

David Wright | Wright Realty | 7144429692


BREA, CA 92821

This Week Real-Time Market Profile Trend


The median list price in BREA, CA Median List Price $ 495,000 ±+
92821 this week is $495,000. The 92 Average List Price $ 497,414
properties have been on the market Asking Price Per Square Foot $ 266 ==
for an average of 150 days. Average Days on Market (DoM) 150 ==

Inventory of Properties Listed 92 ±+

Most Expensive Listing $ 949,000


Days-on-market has been trending up Least Expensive Listing $ 260,000

recently but the Market Action Index Average Age of Listing 39


and inventory levels are basically flat Percent of Properties with Price Decrease 27 %
and not providing strong indications Percent Relisted (reset DOM) 12 %
for the market. Percent Flip (price increased) 8%
Median House Size (sq ft) 1750
Median Lot Size 4,501 - 6,500 sqft
Median Number of Bedrooms 3.0

Supply and Demand


Median Number of Bathrooms 2.0

Altos Research Value Statistics


The market has shown some Market Action Index Strong Buyer's 22.4 ±+
evidence of slowing recently. Both 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
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

4,501 -
Top/First $ 665,000 2400 6,500 sqft 4.0 2.5 27 23 1 4 178 Most expensive 25% of properties

6,501 -
Upper/Second $ 525,000 1997 8,000 sqft 4.0 2.0 45 23 2 3 118 Upper-middle 25% of properties

6,501 -
Lower/Third $ 474,900 1593 8,000 sqft 4.0 2.0 45 23 1 2 115 Lower-middle 25% of properties

4,501 -
Bottom/Fourth $ 339,900 1200 6,500 sqft 3.0 1.5 40 23 3 1 188 Least expensive 25% of properties

Page 7 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA 92821

Median 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 see prices move from these levels.

7-day Average 90-day Average

Quartile Prices
In the quartile market segments, we see while the lower-half of the market has seen negative price pressures lately, prices in
the upper-half of the market have been mixed. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1
and 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 8 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA 92821

Price per Square Foot


The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently.
These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

7-day Average 90-day Average

Inventory of Properties Listed for Sale


Inventory has been relatively steady around these levels in recent weeks.

7-day Average 90-day Average

Page 9 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA 92821

Market Action Index


The BREA, 92821 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 22.38. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile


Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of
demand. Watch the quartiles for changes before the overall market shifts.

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 characterized by
analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage
zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 10 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA 92821

Days on Market
The properties have been on the market for an average of 150 days. Half of the listings have come newly on the market in the
past 91 or so days.

7-day Average 90-day Average

Days on Market 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.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 11 of 16 Monday February 15, 2010


Neighborhood Detail Single Family Homes in

David Wright | Wright Realty | 7144429692


BREA, CA
92823
This Week Real-Time Market Profile Trend
The median list price in BREA, CA Median List Price $ 656,500 ≠≠
92823 this week is $656,500. The 18 Average List Price $ 718,206
properties have been on the market Asking Price Per Square Foot $ 265 ==
for an average of 113 days. Average Days on Market (DoM) 113 ≠≠

Inventory of Properties Listed 18 ±+

Most Expensive Listing $ 1,799,000


The Market Action Index has been Least Expensive Listing $ 149,000

basically flat recently, and days-on- Average Age of Listing 11


market decreasing, there are not Percent of Properties with Price Decrease 44 %
strong signals for the direction of the Percent Relisted (reset DOM) 11 %
market. Percent Flip (price increased) 6%
Median House Size (sq ft) 2700
Median Lot Size 4,501 - 6,500 sqft
Median Number of Bedrooms 4.0

Supply and Demand


Median Number of Bathrooms 2.5

Altos Research Value Statistics


The market has settled in at a Market Action Index Strong Buyer's 19.8 ±+
relative stasis in inventory and sales 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
conditions. It's a Buyer's market that implies a seller's advantage. Below 30, conditions give the advantage to the
has seen prices trend lower. Expect buyer.
that consistent up trends in demand
will be required before price trends Trend Key: == Strong upward trend ≠≠ Strong downward trend
change significantly. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

0.25 - 0.50
Top/First $ 1,024,900 3910 acre 4.0 3.2 3 4 0 0 205 Most expensive 25% of properties

8,001 -
Upper/Second $ 792,000 2978 10,000 sqft 4.0 2.5 8 4 1 0 102 Upper-middle 25% of properties

4,501 -
Lower/Third $ 599,000 2136 6,500 sqft 4.0 2.0 8 5 1 1 37 Lower-middle 25% of properties

Less than
Bottom/Fourth $ 470,000 1512 4,500 sqft 3.0 2.0 7 5 0 0 126 Least expensive 25% of properties

Page 12 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA
92823

Median Price
This week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will
be reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.

7-day Average 90-day Average

Quartile Prices
In the quartile market segments, we see the market's price weakness evident across the board. Quartiles 1, 2, and 4 have been
in price decline in recent weeks, with Quartile 3 remaining basically flat. Look to the Market Action Index as a leading indicator
of the bottom of the market.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 13 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA
92823

Price per Square Foot


We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually
increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-
location variables.

7-day Average 90-day Average

Inventory of Properties Listed for Sale


Inventory has been relatively steady around these levels in recent weeks.

7-day Average 90-day Average

Page 14 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA
92823

Market Action Index


The BREA, 92823 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 19.82. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile


Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of
demand. Watch the quartiles for changes before the overall market shifts.

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 characterized by
analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage
zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 15 of 16 Monday February 15, 2010


Single Family Homes in
Neighborhood Detail
David Wright | Wright Realty | 7144429692
BREA, CA
92823

Days on Market
The properties have been on the market for an average of 113 days. Half of the listings have come newly on the market in the
past 94 or so days.

7-day Average 90-day Average

Days on Market 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.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 16 of 16 Monday February 15, 2010