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 June 23, 2014 Presented by Intero Real Estate Services Intero Real Estate Services www.Facebook.com/InteroEastBay 510.651.6500 UNION CITY, CA 94587 Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2013 Altos Research LLC Median List Price Median Lot Size 65.0 Percent Relisted (reset DOM) 2138 2.5 14 % Median Number of Bathrooms 31 Inventory of Properties Listed $ 352 Percent Flip (price increased) 4,501 - 6,500 sqft Median House Size (sq ft) $ 761,950 17 % 4.0 Market Action Index Median Number of Bedrooms Asking Price Per Square Foot 21 % Percent of Properties with Price Decrease Strong Seller's == == + +
Altos Research Value Statistics
Most Expensive Listing Average Days on Market (DoM) Bottom/Fourth Lower/Third Upper/Second Top/First This Week Real-Time Market Profile Trend 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 a seller's advantage. Below 30, conditions give the advantage to the buyer. Supply and Demand Characteristics per Quartile 10 0 3254 46 2.5 36 3.0 3 8 4.0 11 31 4 5 4,501 - 6,500 sqft 45 $ 645,000 4 2 11 3.8 6,501 - 8,000 sqft 3 2.8 1380 4,501 - 6,500 sqft 10 $ 448,000 5.0 38 4,501 - 6,500 sqft $ 799,475 4.0 $ 1,064,500 14 2 2320 The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market. Monday June 23, 2014 Intero Real Estate Services | EastBay 10 1814 2.0 The median list price in UNION CITY, CA 94587 this week is $761,950. The 42 properties have been on the market for an average of 31 days. Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOM Sq. Ft. No change Strong upward trend Strong downward trend Slight upward trend Slight downward trend + == = UNION CITY, CA 94587 Neighborhood Detail Least Expensive Listing Average List Price Average Age of Listing 42 $ 1,500,000 $ 270,000 $ 736,072 32 Trend Key: Market conditions have been consistently cooling in the past several weeks. Because we're still in the Seller's zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer's zone. Page 2 of 6 Single Family Homes in Intero Real Estate Services | EastBay Neighborhood Detail UNION CITY, CA 94587 Monday June 23, 2014 Median Price Prices in this zip code hit another all time high this week. You can see that prices continue to march higher. Look for a persistent downtrend in the Market Action Index into the Buyer's zone as a leading indicator of the price strength finally abating. 90-day Average 7-day Average Quartile Prices In the quartile market segments, we see pricing across most of this zip code relatively strong recently. While Quartile 3 is basically flat, all other segments are in an up trend period. Unless the Market Action Index has a persistent downward shift, expect that Quartile 3 will assume a similar trend with the other groups. First/Top Second/Upper Third/Lower Fourth/Bottom Page 3 of 6 Single Family Homes in Intero Real Estate Services | EastBay Neighborhood Detail UNION CITY, CA 94587 Monday June 23, 2014 Price per Square Foot In a market where prices are rising fairly consistently, price per square foot 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. 90-day Average 7-day Average Inventory of Properties Listed for Sale 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. 90-day Average 7-day Average Page 4 of 6 Single Family Homes in Intero Real Estate Services | EastBay Neighborhood Detail UNION CITY, CA 94587 Monday June 23, 2014 Market Action Index The UNION CITY, 94587 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 65.02; indicating very little supply relative to the demand. Buyers/Sellers Cutoff 90-day Average Market Action Index per Quartile Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for 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 Buyers Advantage zone (below 30) for a long period, prices are likely in for a downward correction. Page 5 of 6 Single Family Homes in Intero Real Estate Services | EastBay Neighborhood Detail UNION CITY, CA 94587 Monday June 23, 2014 Days on Market The properties have been on the market for an average of 31 days. Half of the listings have come newly on the market in the past 14 or so days. 90-day Average 7-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 6 Single Family Homes in