Christophe Choo's

market update
LOS ANGELES
90067

Current prices for condominiums, townhomes, TICs on the market

Trends in pricing
Current levels of supply and demand
Value metrics

Report for the week of

Sunday January 23, 2011

Presented by Christophe Choo Real Estate Group - Locally Known. Globally

(310)777-6342
Christophe Choo Real Estate Group
www.ChristopheChoo.com - Christophechoo@aol.com

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 Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

City Overview LOS ANGELES

Real-Time Market Profile Trend THIS WEEK
Median List Price $ 450,000 The median condominium price in
Average List Price $ 599,747 LOS ANGELES this week is $450,000.
Least Expensive Listing $ 60,000 The 1567 condos have been on the
Most Expensive Listing $ 9,000,000 market for an average of 167 days.
Asking Price per Square Foot $ 352
Average Days on Market 167
Total Inventory 1567
Absorbed This Week 102
Percent of Properties with Price Reductions 33 %
Percent Relisted (reset DOM) 8%
Percent Flip (price increased) 5%
Median Size (sq ft) 1,268 Inventory has been tightening but
Median Number of Bedrooms 2.0
days-on-market and the Market Action
Median Number of Bathrooms 2.0
Index have been basically unchanged,
Median Age 25
Altos Research Value Statistics not providing strong indication for
Market Action Index Cold! Buyer's Market 17 market conditions.
Altos Research calculates the Market Action Index which measures available supply
relative to the current level of demand. Index value above 30 indicates conditions favor
the seller. See the section below for full details.

Trend Key
Last Month's Trend Last Quarter's Trend No Clear Monthly/Quarterly Trend
*Metric "Absorbed this Week" covers properties sold and those taken off the market for other reasons. QUARTILES
Since sales sometimes take months to close, it is impossible to discern in real-time exactly which properties
sold. To get a tightly targeted understanding
of properties on the market, we break
each locale into quartiles. Each quartile
is 25% of the condos listed.

Characteristics per Quartile

Med. Ab- Avg.
Quartile Median Price Med. Sqft Bed Bath Age Inven. New sorbed DoM

1 $ 829,000 1,857 2.0 2.5 20 391 18 16 180 Most expensive 25% of condos

2 $ 535,000 1,455 2.0 2.0 21 392 28 15 157 Upper-middle 25% of condos

3 $ 374,450 1,115 2.0 2.0 29 392 16 31 167 Lower-middle 25% of condos

4 $ 215,000 872 1.0 1.0 32 392 19 40 168 Least expensive 25% of condos

We'll refer to the quartiles in the trend

graphs below.

Christophe Choo's Market Update for LOS ANGELES 2

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

PRICE
The market seems to have paused
around this plateau. The Market Action
Index is a good leading indicator for the
durability of this trend.

QUARTILE PRICES
Often, we find insights by watching
pricing trends within the quartile
segments.
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.

Christophe Choo's Market Update for LOS ANGELES 3

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

PRICE AND VALUE

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
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.

Christophe Choo's Market Update for LOS ANGELES 4

 Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

MARKET ACTION INDEX

Property 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 The condo market in LOS ANGELES is
falls into the Buyer’s Market zone for a long period, prices are likely in for a downward
currently quite strongly in the Buyer's
correction.
zone (below 30). The 90-day Market
Action Index stands at 17. With several
months of inventory available at the
current sales rate, buyers should find
ample choice.

Home sales have been exceeding new

inventory for several weeks. However
because of excess inventory, prices have
not yet stopped falling. Should the sales
The Market Action Index (MAI) illustrates the balance between supply and demand using a trend continue, expect prices to level off
statistical function of the current rate of sale versus current inventory. soon and potentially to resume their
An MAI value greater than 30 typically indicates a “Seller's Market” (a.k.a. "Hot Market") climb from there. Watch prices as the
because demand is high enough to quickly gobble up available supply. A hot market will market transitions from a Buyer's
typically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "Cold market to a Seller's market.
Market") where the inventory of already-listed homes is sufficient to last several months at
the current rate of sales. A cold market will typically cause prices to fall.

MARKET ACTION QUARTILES

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 changes.

The quartiles can help you answer the question, "How hot is the market for homes in my price
range?"

Christophe Choo's Market Update for LOS ANGELES 5

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

DAYS ON MARKET (DOM)

The properties have been on the
market for an average of 157 days. Half
of the listings have come newly on the
market in the past 112 or so days.

DOM 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.

Christophe Choo's Market Update for LOS ANGELES 6

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES
Neighborhood Detail 90067

Real-Time Market Profile Trend

Median List Price $ 1,147,500 THIS WEEK
Average List Price $ 1,605,332 The median condominium price in
Least Expensive Listing $ 279,900 LOS ANGELES 90067 this week is
Most Expensive Listing $ 8,000,000 $1,147,500.
Asking Price per Square Foot $ 634
Average Days on Market 177
Total Inventory 78
Absorbed This Week 2
Median Size (sq ft) 1,672 Inventory has been tightening but
Median Number of Bedrooms 2.0
days-on-market and the Market Action
Median Number of Bathrooms 2.2
Index have been basically unchanged,
Median Age 41
Altos Research Value Statistics not providing strong indication for
Market Action Index Cold! Buyer's Market 16 market conditions.

PRICE
The market for this zip code continues
its bounce again this week. We're a
long way from the market's high point
so watch the Market Action Index to
predict how long this trend will last.

Christophe Choo's Market Update for LOS ANGELES 7

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

PRICE PER QUARTILE

In the quartile market segments, we see
prices in this zip code 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.

Characteristics per Quartile QUARTILES

Med. Ab- Avg.
Quartile Median Price Med. Sqft Bed Bath Age Inven. New sorbed DoM

1 $ 3,200,000 3,234 3.0 3.5 1 19 0 0 237 Most expensive 25% of condos

2 $ 1,495,000 2,272 2.0 2.5 31 19 0 0 192 Upper-middle 25% of condos

3 $ 812,000 1,468 2.0 2.0 45 20 1 1 140 Lower-middle 25% of condos

4 $ 425,500 1,018 2.0 2.0 45 20 0 1 143 Least expensive 25% of condos

INVENTORY
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.

Christophe Choo's Market Update for LOS ANGELES 8

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

MARKET ACTION INDEX

The LOS ANGELES 90067 is quite
strongly in the Buyer's Market zone.
The 90-day Market Action Index stands
at 16. With several months of inventory
available at the current sales rate,
buyers should find ample choice.

MARKET ACTION QUARTILES

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.

DAYS ON MARKET
The properties have been on the market
for an average of 177 days. Half of the
listings have come newly on the market
in the past 136.5 or so days. Watch the
90-day DOM trend for signals of a
changing market.

Christophe Choo's Market Update for LOS ANGELES 9

 Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

DAYS ON MARKET
It is not uncommon for the higher
priced properties in an area (Quartiles
1 and 2) to take longer to sell than
those in the lower quartiles.

About Altos Research Corporation

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 particular property, make sure you use comparable sales data in addition to
the market trend information available in this report. The data presented in this report is accurate to the
best of our knowledge, but cannot be guaranteed as such. Use this report as one input in the real estate
decision making process, but do not rely on it for accuracy. Nothing in this report or any other Altos
Research publication is a recommendation to buy or to sell real estate. We recommend you work with a
licensed real estate agent or broker.

Altos Research LLC Copyright 2005-2010. All Rights Reserved www.altosresearch.com

Christophe Choo's Market Update for LOS ANGELES 10