Castaic Condos and Townhome update

Paris911 Intel Reports
MARKET UPDATE
CASTAIC, CA
· Current Real Estate Market Conditions for Condos & Townhomes
· Trends in Pricing
· Current Levels of Supply and Demand
· Value Metrics
· Report for the week of
March 30, 2015
· Presented by Connor and Paris MacIvor / REMAX of Santa Clarita CA
REMAX of Valencia CA / The Paris911 Team
www.Paris911.com / [email protected]
661-400-1720
Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2014 Altos Research LLC
City Overview
Condos & Townhomes in
CASTAIC, CA
The Paris911 Team | www.Paris911.com | 661-400-1720
This Week
Real-Time Market Profile
The median list price in CASTAIC, CA
this week is $395,000. The 5
properties have been on the market
for an average of 85 days.
$ 395,000
Average List Price
$ 365,197
±+
$ 227
±+
Average Days on Market (DoM)
85
≠≠
Inventory of Properties Listed
5
==
Asking Price Per Square Foot
With inventory trending up but dayson-market trending down and the
Market Action Index essentially flat
recently, conditions do not seem to
have strong up or down pull.
Trend
Median List Price
Most Expensive Listing
$ 439,000
Least Expensive Listing
$ 179,987
Average Age of Listing
13
Percent of Properties with Price Decrease
60 %
Percent Relisted (reset DOM)
0%
Percent Flip (price increased)
0%
Median House Size (sq ft)
1667
Median Number of Bedrooms
3.0
Median Number of Bathrooms
2.5
Supply and Demand
Altos Research Value Statistics
The Market Action Index has been
trending lower for several weeks
while prices have remained
relatively stable. If inventory
continues to grow relative to
demand however, it is likely that we
will see downward pressure on
pricing.
Market Action Index
Buyer's Advantage
28.0
≠≠
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.
Trend Key:
±+
No change
== Strong upward trend ≠≠ Strong downward trend
= Slight upward trend ≠ Slight downward trend
Characteristics per Quartile
Quartile
Median Price
Sq. Ft.
Beds
Baths
Age Inventory
New
Absorbed
DOM
Most expensive 25% of properties
Top/First
$ 439,000
1932
3.0
3.0
8
1
0
0
252
Upper/Second
$ 428,000
1667
3.0
2.5
8
1
0
0
14
Upper-middle 25% of properties
Lower/Third
$ 395,000
1667
3.0
3.0
8
1
0
0
105
Lower-middle 25% of properties
Bottom/Fourth
$ 281,994
1412
2.5
2.2
22
2
1
0
28
Page 2 of 6
Monday March 30, 2015
Least expensive 25% of properties
Condos & Townhomes in
City Overview
CASTAIC, CA
The Paris911 Team | www.Paris911.com | 661-400-1720
Median Price
Despite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading
indicator for the durability of this shift.
7-day Average
90-day Average
Quartile Prices
Prices have been mixed-to-negative trends in recent weeks. Quartile 4 is down, while the rest of the market is basically flat.
Look to the Market Action Index to determine if this plateau is the stage for a prolonged price decline.
First/Top
Page 3 of 6
Second/Upper
Third/Lower
Monday March 30, 2015
Fourth/Bottom
Condos & Townhomes in
City Overview
CASTAIC, CA
The Paris911 Team | www.Paris911.com | 661-400-1720
Price per Square Foot
The market plateau is seen across the price and value. The price per square foot and median list price have both been
reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from
these levels.
7-day Average
90-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.
7-day Average
Page 4 of 6
90-day Average
Monday March 30, 2015
Condos & Townhomes in
City Overview
CASTAIC, CA
The Paris911 Team | www.Paris911.com | 661-400-1720
Market Action Index
The CASTAIC market is currently in the Buyer's Advantage zone (below 30), though not strongly so. The 90-day Market Action
Index stands this week at 27.96 so buyers should expect to find reasonable levels of selection.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile
The higher end of the market (Quartiles 1 and 2) is in the Buyer's Market zone with several months of inventory given the
current rate of demand for homes in the quartile. The low-end of the market is where buyers are focusing more of their
attention. Notice that Quartiles 1 and 2 (the higher half of the market) have a Market Action Index below 30 (Buyer's Market).
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.
Page 5 of 6
Monday March 30, 2015
Condos & Townhomes in
City Overview
CASTAIC, CA
The Paris911 Team | www.Paris911.com | 661-400-1720
Days on Market
The properties have been on the market for an average of 85 days. Half of the listings have come newly on the market in the
past 42 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
Page 6 of 6
Second/Upper
Third/Lower
Monday March 30, 2015
Fourth/Bottom