04_02-12 [SF]_AZ_PEORIA

8/2/2019 04_02-12 [SF]_AZ_PEORIA

1/6

MARKET UPDATEKelli Grant Realty Group

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

April 02, 2012

Presented by Kelli Grant Group Moving People Through Good DeedsPlatinum Premier [email protected](623) 239-4402

PEORIA,

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC

8/2/2019 04_02-12 [SF]_AZ_PEORIA

2/6

Median List Price

Median Lot Size

24.2

Percent Relisted (reset DOM)

2072

2.0

7 %

Median Number of Bathrooms

136

Inventory of Properties Listed

$ 91

Percent Flip (price increased)

1.0 - 2.5 acres

Median House Size (sq ft)

$ 199,900

28 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Buyer's Advantage

+

==

+

==

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This WeekReal-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

7 82875

1202.0 13

3.0

18

136

3.0 150

103

18

26

1.0 - 2.5acres

21

$ 164,975

22

10

150

3.0

not available

222.0

1398 not available

150

$ 85,450

4.0

187

not available$ 240,000

3.0$ 389,900

10

25

2308

Inventory has been lightening latelyand the Market Action Index has beentrending up. These are mildly positiveindications for the market.

Monday April 2, 2012

Kelli Grant Group | www.PhoenixHomeResource.com

149

1853

2.0

The median list price in PEORIA, AZthis week is $199,900. The 599

properties have been on the marketfor an average of 136 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 DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

PEORIA,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

599

$ 1,500,000

$ 15,000

$ 236,707

14

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

Page 2 of 6

Single Family Home

8/2/2019 04_02-12 [SF]_AZ_PEORIA

3/6


City OverviewPEORIA,


Median PriceDespite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.

90-day Average7-day Average

Quartile PricesPrices 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

Page 3 of 6

Single Family Hom

8/2/2019 04_02-12 [SF]_AZ_PEORIA

4/6




Price per Square FootThe 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 of Properties Listed for Sale

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


Page 4 of 6

Single Family Hom

8/2/2019 04_02-12 [SF]_AZ_PEORIA

5/6




Market Action IndexThe PEORIA market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market ActionIndex stands this week at 24.19 so buyers should expect to find reasonable levels of selection.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileThree of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rateof demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than theothers. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on the

premium homes.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

Page 5 of 6

Single Family Hom

8/2/2019 04_02-12 [SF]_AZ_PEORIA

6/6




Days on MarketThe properties have been on the market for an average of 136 days. Half of the listings have come newly on the market in thepast 77 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


Page 6 of 6

Single Family Hom

Documents

04_02-12 [SF]_AZ_PEORIA