Market Update: Jennifer Pritchett

Jennifer Pritchett
MARKET UPDATE
IRVINE, 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 Your Orange County Real Estate Connection

Coldwell Banker Residential Brokerage
jpritchett@coldwellbanke.com
949-212-5279
Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
City Overview Single Family Homes in
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

IRVINE, CA
This Week Real-Time Market Profile Trend

The median list price in IRVINE, CA Median List Price $ 822,450 ±+
this week is $822,450. The 350 Average List Price $ 1,378,851
properties have been on the market Asking Price Per Square Foot $ 374 ±+
for an average of 178 days. Average Days on Market (DoM) 178 ==
Inventory of Properties Listed 350 ==
Most Expensive Listing $ 17,500,000

Inventory and days-on-market are Least Expensive Listing $ 179,900
climbing, while the Market Action Average Age of Listing 20

Index has been flat recently. The Percent of Properties with Price Decrease 26 %
trends point to a weakening market. Percent Relisted (reset DOM) 8%
Percent Flip (price increased) 8%
Median House Size (sq ft) 2400
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 shown some Market Action Index Strong Buyer's 22.2 ±+
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
0.25 - 0.50
Top/First $ 2,399,000 4400 acre 5.0 4.5 5 87 8 8 277 Most expensive 25% of properties
4,501 -
Upper/Second $ 969,000 2615 6,500 sqft 4.0 3.0 10 87 12 7 153 Upper-middle 25% of properties
4,501 -
Lower/Third $ 711,000 2045 6,500 sqft 4.0 2.5 30 88 9 11 117 Lower-middle 25% of properties
Less than
Bottom/Fourth $ 548,500 1472 4,500 sqft 3.0 2.0 33 88 13 13 163 Least expensive 25% of properties
Page 2 of 46 Monday February 15, 2010

Single Family Homes in
City Overview
IRVINE, CA
Median Price
Despite this week's up 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 settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift
(up or down) in the Market Action Index before prices move from these current levels.
First/Top Second/Upper Third/Lower Fourth/Bottom

City Overview
IRVINE, CA
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.
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.

City Overview
IRVINE, CA
Market Action Index

The IRVINE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands
at 22.22. 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
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.

City Overview
IRVINE, CA
Days on Market
The properties have been on the market for an average of 178 days. Half of the listings have come newly on the market in the
past 88 or so days.
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.

Neighborhood Detail Single Family Homes in

IRVINE, CA
92606
The median list price in IRVINE, CA Median List Price $ 734,475 ≠≠
92606 this week is $734,475. The 28 Average List Price $ 784,594
properties have been on the market Asking Price Per Square Foot $ 360 ==

The Market Action Index has been Least Expensive Listing $ 600,000
trending down lately, while inventory Average Age of Listing 21

and days-on-market are climbing. The Percent of Properties with Price Decrease 21 %
trends imply a weakening market. Percent Relisted (reset DOM) 7%
Percent Flip (price increased) 7%
Supply and Demand


Home sales have been exceeding Market Action Index Strong Buyer's 21.9 ≠≠
new inventory for several weeks. The Market Action Index answers the question "How's the Market?" By measuring
While still a Buyer's market, prices implies a seller's advantage. Below 30, conditions give the advantage to the
seem to have responded by moving buyer.
upward. If the demand trends
continue, expect prices to keep Trend Key: == Strong upward trend ≠≠ Strong downward trend
marching upward, especially once ±+ No change = Slight upward trend ≠ Slight downward trend
we see a Seller's Market.
4,501 -
Top/First $ 1,050,000 2750 6,500 sqft 5.0 3.0 14 7 1 0 69 Most expensive 25% of properties
4,501 -
4,501 -
4,501 -

Neighborhood Detail
IRVINE, CA
92606
Median Price
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that
cycle.
Quartile Prices
In the quartile market segments, we see pricing across most of the zip code relatively strong recently. While Quartile 4 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 4 will assume a similar trend with the other groups.

Neighborhood Detail
IRVINE, CA
92606

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.


Neighborhood Detail
IRVINE, CA
92606
Market Action Index

The IRVINE, 92606 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 21.93. With several months of inventory available at the current sales rate, buyers should find ample choice.

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.

Neighborhood Detail
IRVINE, CA
92606
Days on Market
past 74 or so days.



IRVINE, CA
92604
The median list price in IRVINE, CA Median List Price $ 602,494 ==

both trending higher recently. Average Age of Listing 35

However, the improving Market Percent of Properties with Price Decrease 30 %
Action Index implies some increased Percent Relisted (reset DOM) 12 %
demand will temper the negative Percent Flip (price increased) 14 %
trends. Median House Size (sq ft) 1800
Supply and Demand


Home sales have been exceeding Market Action Index Strong Buyer's 19.7 ==
Since this is a Buyer's market prices implies a seller's advantage. Below 30, conditions give the advantage to the
are not yet moving higher as excess buyer.
inventory is consumed. However,
the as supply and demand trends Trend Key: == Strong upward trend ≠≠ Strong downward trend
continue, the market moves into the ±+ No change = Slight upward trend ≠ Slight downward trend
Seller's zone, and we are likely to
see upward pressure on pricing.
4,501 -
Top/First $ 802,450 2775 6,500 sqft 4.0 2.5 33 12 3 2 116 Most expensive 25% of properties
4,501 -
4,501 -
Less than

Neighborhood Detail
IRVINE, CA
92604
Median Price
Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high
point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.
Quartile Prices
In the quartile market segments, we see prices in this zip code without strong directional trend lately. Prices in Quartiles 2 and
3 have been down in recent weeks, while Quartile 4 has been mixed and Quartile 1 is up. Look to the Market Action Index to
determine when we may see a shift in prices from these current levels.

Neighborhood Detail
IRVINE, CA
92604

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.


Neighborhood Detail
IRVINE, CA
92604
Market Action Index



Neighborhood Detail
IRVINE, CA
92604
Days on Market
past 66 or so days.



IRVINE, CA
92603
The median list price in IRVINE, CA Median List Price $ 2,642,500 ±+
92603 this week is $2,642,500. The 82 Average List Price $ 3,302,536
Inventory of Properties Listed 82 ±+

Even though the days-on-market is Least Expensive Listing $ 875,000
trending higher, so is the Market Average Age of Listing 10

Action Index at these inventory Percent of Properties with Price Decrease 29 %
levels, providing a neutral outlook for Percent Relisted (reset DOM) 11 %
the market. Percent Flip (price increased) 7%
Median Lot Size 0.25 - 0.50 acre
Supply and Demand


Since this is a Buyer's market prices implies a seller's advantage. Below 30, conditions give the advantage to the
are not yet moving higher as excess buyer.
inventory is consumed. However,
the as supply and demand trends Trend Key: == Strong upward trend ≠≠ Strong downward trend
continue, the market moves into the ±+ No change = Slight upward trend ≠ Slight downward trend
Seller's zone, and we are likely to
see upward pressure on pricing.
0.50 - 1.0
Top/First $ 5,745,000 9178 acre 5.0 6.8 2 20 0 2 383 Most expensive 25% of properties
0.50 - 1.0
Upper/Second $ 3,545,000 5548 acre 5.0 5.5 5 20 1 1 309 Upper-middle 25% of properties
8,001 -
Lower/Third $ 1,699,500 3400 10,000 sqft 4.0 3.5 6 21 1 2 246 Lower-middle 25% of properties
4,501 -
Bottom/Fourth $ 1,088,000 2460 6,500 sqft 4.0 2.5 31 21 2 0 203 Least expensive 25% of properties

Neighborhood Detail
IRVINE, CA
92603
Median Price
Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the
Market Action Index before we see prices significantly move from these levels.
Quartile Prices
In the quartile market segments, we see pricing across most of this zip code relatively strong recently. While Quartile 2 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 2 will assume a similar trend with the other groups.

Neighborhood Detail
IRVINE, CA
92603

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.

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

Neighborhood Detail
IRVINE, CA
92603
Market Action Index



Neighborhood Detail
IRVINE, CA
92603
Days on Market
past 238 or so days.



IRVINE, CA
92602
for an average of 88 days. Average Days on Market (DoM) 88 ±+
Inventory of Properties Listed 33 ≠≠

Inventory has been tightening but Least Expensive Listing $ 600,000
days-on-market and the Market Action Average Age of Listing 9

Index have been basically unchanged, Percent of Properties with Price Decrease 18 %
not providing strong indication for Percent Relisted (reset DOM) 3%
market conditions. Percent Flip (price increased) 6%
Median Lot Size Less than 4,500 sqft
Supply and Demand


The market has shown some Market Action Index Buyer's Advantage 29.3 ±+
4,501 -
4,501 -
Less than
Less than

Neighborhood Detail
IRVINE, CA
92602
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.
Quartile Prices
In the quartile market segments, we see the lower half of this zip code is showing slight pricing weakness, while the upper half
of the market is slightly positive. Quartile 1 has been trending up recently, but unless we see a persistent up-shift in the Market
Action Index, it will likely resume the trend of the rest of the market.

Neighborhood Detail
IRVINE, CA
92602


Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to
the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

Neighborhood Detail
IRVINE, CA
92602
Market Action Index

The IRVINE, 92602 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market
Action Index stands this week at 29.25 so buyers should expect find reasonable levels of selection.

Three of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the current
levels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyers
seem to be placing emphasis on the premium homes.

Neighborhood Detail
IRVINE, CA
92602
Days on Market
past 56 or so days.



IRVINE, CA
92620

climbing, while the Market Action Average Age of Listing 19

Index has been flat recently. The Percent of Properties with Price Decrease 21 %
trends point to a weakening market. Percent Relisted (reset DOM) 6%
Percent Flip (price increased) 10 %
Supply and Demand


The market has shown some Market Action Index Buyer's Advantage 23.4 ±+
6,501 -
4,501 -
4,501 -
Less than

Neighborhood Detail
IRVINE, CA
92620
Median Price
Quartile Prices
In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 3 has been
declining in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board
move from these levels.

Neighborhood Detail
IRVINE, CA
92620



Neighborhood Detail
IRVINE, CA
92620
Market Action Index

The IRVINE, 92620 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market
Action Index stands this week at 23.44 so buyers should expect find reasonable levels of selection.


Neighborhood Detail
IRVINE, CA
92620
Days on Market
past 91 or so days.



IRVINE, CA
92618
The median list price in IRVINE, CA Median List Price $ 1,077,450 ==
92618 this week is $1,077,450. The 12 Average List Price $ 1,055,317
Inventory of Properties Listed 12 ≠≠

Inventory has been lightening lately Least Expensive Listing $ 525,000
and the Market Action Index has been Average Age of Listing 12
trending up. Though days-on-market Percent of Properties with Price Decrease 25 %
is increasing, these are mildly positive Percent Relisted (reset DOM) 0%
indications for the market. Percent Flip (price increased) 0%
Supply and Demand


While still a Buyer's market, prices implies a seller's advantage. Below 30, conditions give the advantage to the
seem to have responded by moving buyer.
upward. If the demand trends
continue, expect prices to keep Trend Key: == Strong upward trend ≠≠ Strong downward trend
marching upward, especially once ±+ No change = Slight upward trend ≠ Slight downward trend
we see a Seller's Market.
6,501 -
4,501 -
Upper/Second $ 1,099,000 3200 6,500 sqft 4.0 3.0 10 3 0 0 175 Upper-middle 25% of properties
4,501 -
Lower/Third $ 1,075,000 2900 6,500 sqft 4.0 2.5 10 3 0 0 72 Lower-middle 25% of properties
Less than

Neighborhood Detail
IRVINE, CA
92618
Median Price
In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up
trend in general over the last several weeks.
Quartile Prices
Not surprisingly, given the condition of the overall market, all quartiles have shown price strength in recent weeks. All have
been increasing in price lately. Watch for a persistent decline in the Market Action Index as a leading indicator for the top of the
market.

Neighborhood Detail
IRVINE, CA
92618

The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently
increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action
Index for persistent changes as a leading indicator for these trends to flatten or drop.

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to
the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

Neighborhood Detail
IRVINE, CA
92618
Market Action Index



Neighborhood Detail
IRVINE, CA
92618
Days on Market
past 77 or so days.



IRVINE, CA
92612
The median list price in IRVINE, CA Median List Price $ 519,500 ≠≠


Action Index implies some increased Percent Relisted (reset DOM) 0%
demand will temper the negative Percent Flip (price increased) 4%
Supply and Demand


However because of excess implies a seller's advantage. Below 30, conditions give the advantage to the
inventory, prices have not yet buyer.
stopped falling. Should the sales
trend continue, expect prices to Trend Key: == Strong upward trend ≠≠ Strong downward trend
level off soon and potentially to ±+ No change = Slight upward trend ≠ Slight downward trend
resume their climb from there.
Watch prices as the market
transitions from a Buyer's market to
a Seller's market.
4,501 -
Less than
Less than
Less than

Neighborhood Detail
IRVINE, CA
92612
Median Price
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.
Quartile Prices
In the quartile market segments, we see the market's price weakness evident across the board. All four quartiles have been in
price decline in recent weeks. Look to the Market Action Index as a leading indicator of the bottom of the market.

Neighborhood Detail
IRVINE, CA
92612

Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the
market being priced at a premium. You can investigate this condition in the quartile details.


Neighborhood Detail
IRVINE, CA
92612
Market Action Index



Neighborhood Detail
IRVINE, CA
92612
Days on Market
past 77 or so days.



IRVINE, CA
92614
properties have been on the market Asking Price Per Square Foot $ 371 ≠≠


Action Index implies some increased Percent Relisted (reset DOM) 16 %
demand will temper the negative Percent Flip (price increased) 3%
Supply and Demand


The market has shown some Market Action Index Strong Buyer's 19.4 ==
4,501 -
Less than
Less than
Less than

Neighborhood Detail
IRVINE, CA
92614
Median Price
Quartile Prices
In the quartile market segments, we see prices in this zip code with a lack of strong directional indication lately. Quartile 4 is
down, Quartile 1 is essentially flat, while Quartiles 2 and 3 are up in recent weeks. Slack demand sometimes takes hold at either
end of the market and converges on the center. Watch for persistent shifts in the Market Action Index for a leading indicator of
stronger price moves in the market as a whole.

Neighborhood Detail
IRVINE, CA
92614

While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength
in a market, larger homes are coming more available and buyers are tending to get more home for their money.


Neighborhood Detail
IRVINE, CA
92614
Market Action Index



Neighborhood Detail
IRVINE, CA
92614
Days on Market
past 91 or so days.


Market Update: Jennifer Pritchett

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Jennifer Pritchett

· Current Real Estate Market Conditions for Single Family Homes

· Report for the week of

· Presented by Your Orange County Real Estate Connection

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

This Week Real-Time Market Profile Trend

Inventory of Properties Listed 350 ==

Most Expensive Listing $ 17,500,000

climbing, while the Market Action Average Age of Listing 20

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile

Page 2 of 46 Monday February 15, 2010

7-day Average 90-day Average

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

Page 3 of 46 Monday February 15, 2010

Price per Square Foot

7-day Average 90-day Average

Inventory of Properties Listed for Sale

7-day Average 90-day Average

Page 4 of 46 Monday February 15, 2010

Market Action Index

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

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

Page 5 of 46 Monday February 15, 2010

7-day Average 90-day Average

Days on Market per Quartile

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

Page 6 of 46 Monday February 15, 2010

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

Inventory of Properties Listed 28 ==

Most Expensive Listing $ 1,100,000

trending down lately, while inventory Average Age of Listing 21

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile

Page 7 of 46 Monday February 15, 2010

7-day Average 90-day Average

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

Page 8 of 46 Monday February 15, 2010

Price per Square Foot

7-day Average 90-day Average

Inventory of Properties Listed for Sale

7-day Average 90-day Average

Page 9 of 46 Monday February 15, 2010

Market Action Index

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

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

Page 10 of 46 Monday February 15, 2010

7-day Average 90-day Average

Days on Market per Quartile

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

Page 11 of 46 Monday February 15, 2010

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

Inventory of Properties Listed 50 ==

Most Expensive Listing $ 1,399,000

both trending higher recently. Average Age of Listing 35

Supply and Demand

Altos Research Value Statistics

Characteristics per Quartile