MARKET UPDATEAnthony Knight

· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics

· Report for the week ofFebruary 01, 2010

· Presented by Anthony KnightTRG National Titlewww.positiveangles.wordpress.com /303.594.2013

BOULDER, CO

Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC

Median List Price

Median Lot Size

18.8

Percent Relisted (reset DOM)

3040

3.0

1 %

Median Number of Bathrooms

205

Inventory of Properties Listed

$ 296

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 799,450

28 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

13 %

Percent of Properties with Price Decrease

Strong Buyer'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 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

12 15110

2093.0 40

4.0

1

206

4.0 26

191

2

2

0.25 - 0.50acre

39

$ 662,450

5

3

26

4.5

0.25 - 0.50acre

04.0

2073 0.25 - 0.50acre

26

$ 433,000

4.0

215

0.25 - 0.50acre$ 1,037,475

4.0$ 2,275,000

27

2

3876

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.

Monday February 1, 2010

Anthony Knight

26

2407

2.5

The median list price in BOULDER, COthis week is $799,450. The 104properties have been on the marketfor an average of 205 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±+

== ≠≠

≠=

BOULDER, COCity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

104

$ 4,995,000

$ 199,500

$ 1,145,716

37

Trend Key:

Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.

Page 2 of 31

Single Family Homes in

Anthony Knight

City OverviewBOULDER, CO

Monday February 1, 2010

Median PriceThis week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in generalover the last several weeks.

90-day Average7-day Average

Quartile PricesPrices in most of the market trending have been higher in recent weeks except for the high-end of the market, which has beenessentially flat.

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

Page 3 of 31

Single Family Homes in

Anthony Knight

City OverviewBOULDER, CO

Monday February 1, 2010

Price per Square FootIn a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that newhomes 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 Average7-day Average

Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

90-day Average7-day Average

Page 4 of 31

Single Family Homes in

Anthony Knight

City OverviewBOULDER, CO

Monday February 1, 2010

Market Action IndexThe BOULDER market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 18.77. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before 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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (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 thecurrent rate of sale versus current inventory.

Page 5 of 31

Single Family Homes in

Anthony Knight

City OverviewBOULDER, CO

Monday February 1, 2010

Days on MarketThe properties have been on the market for an average of 205 days. Half of the listings have come newly on the market in thepast 158 or so days.

90-day Average7-day Average

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.

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

Page 6 of 31

Single Family Homes in

Median List Price

Median Lot Size

16.5

Percent Relisted (reset DOM)

3762

4.0

0 %

Median Number of Bathrooms

122

Inventory of Properties Listed

$ 178

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 642,450

29 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

7 %

Percent of Properties with Price Decrease

Strong Buyer'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 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

12 05409

824.0 24

4.0

0

93

4.0 4

39

0

0

not available

34

$ 535,000

1

1

4

5.0

not available

06.0

2396 0.25 - 0.50acre

3

$ 397,000

4.0

313

not available$ 899,900

5.0$ 1,998,000

14

1

6238

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.

Monday February 1, 2010

Anthony Knight

3

3242

3.0

The median list price in BOULDER, CO80301 this week is $642,450. The 14properties have been on the marketfor an average of 122 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±+

== ≠≠

≠=

BOULDER, CO80301

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

14

$ 2,500,000

$ 199,500

$ 956,586

25

Trend Key:

Home sales have been exceedingnew inventory for several weeks.Since this is a Buyer's market pricesare not yet moving higher as excessinventory is consumed. However,the as supply and demand trendscontinue, the market moves into theSeller's zone, and we are likely tosee upward pressure on pricing.

Page 7 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80301

Monday February 1, 2010

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

90-day Average7-day Average

Quartile PricesIn the quartile market segments, we see pricing across most of this zip code relatively strong recently. While Quartile 2 isbasically 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.

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

Page 8 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80301

Monday February 1, 2010

Price per Square FootThis is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at firstglance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining.Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also gettingmore for their money.

90-day Average7-day Average

Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

90-day Average7-day Average

Page 9 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80301

Monday February 1, 2010

Market Action IndexThe BOULDER, 80301 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 16.47. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.

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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (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 thecurrent rate of sale versus current inventory.

Page 10 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80301

Monday February 1, 2010

Days on MarketThe properties have been on the market for an average of 122 days. Half of the listings have come newly on the market in thepast 42 or so days.

90-day Average7-day Average

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.

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

Page 11 of 31

Single Family Homes in

Median List Price

Median Lot Size

17.0

Percent Relisted (reset DOM)

3545

4.0

4 %

Median Number of Bathrooms

192

Inventory of Properties Listed

$ 320

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 1,105,000

25 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

11 %

Percent of Properties with Price Decrease

Strong Buyer'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 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

58 14967

1823.5 26

4.0

1

196

3.5 7

165

0

0

0.25 - 0.50acre

34

$ 824,900

0

0

7

5.0

8,001 -10,000 sqft

04.0

2027 8,001 -10,000 sqft

7

$ 644,900

4.0

226

0.50 - 1.0acre$ 1,349,000

4.0$ 2,695,000

39

1

3945

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.

Monday February 1, 2010

Anthony Knight

7

3266

3.0

The median list price in BOULDER, CO80304 this week is $1,105,000. The 28properties have been on the marketfor an average of 192 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±+

== ≠≠

≠=

BOULDER, CO80304

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

28

$ 3,200,000

$ 239,900

$ 1,352,075

34

Trend Key:

Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.

Page 12 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80304

Monday February 1, 2010

Median PriceDespite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's highpoint, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.

90-day Average7-day Average

Quartile PricesIn the quartile market segments, we see pricing across most of this zip code relatively strong recently. While Quartile 2 isbasically 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.

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

Page 13 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80304

Monday February 1, 2010

Price per Square FootThis is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at firstglance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining.Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also gettingmore for their money.

90-day Average7-day Average

Inventory of Properties Listed for SaleInventory 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.

90-day Average7-day Average

Page 14 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80304

Monday February 1, 2010

Market Action IndexThe BOULDER, 80304 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 17.04. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.

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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (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 thecurrent rate of sale versus current inventory.

Page 15 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80304

Monday February 1, 2010

Days on MarketThe properties have been on the market for an average of 192 days. Half of the listings have come newly on the market in thepast 150 or so days.

90-day Average7-day Average

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.

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

Page 16 of 31

Single Family Homes in

Median List Price

Median Lot Size

18.2

Percent Relisted (reset DOM)

2200

3.0

0 %

Median Number of Bathrooms

231

Inventory of Properties Listed

$ 232

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 599,000

38 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

0 %

Percent of Properties with Price Decrease

Strong Buyer'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 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

8 05387

4643.0 42

3.5

1

238

4.0 3

128

0

0

not available

44

$ 500,000

0

0

4

6.0

1.0 - 2.5acres

04.0

1990 8,001 -10,000 sqft

3

$ 430,375

4.0

128

6,501 -8,000 sqft$ 699,999

5.0$ 1,599,000

39

1

3010

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.

Monday February 1, 2010

Anthony Knight

3

2176

2.0

The median list price in BOULDER, CO80303 this week is $599,000. The 13properties have been on the marketfor an average of 231 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±+

== ≠≠

≠=

BOULDER, CO80303

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

13

$ 4,995,000

$ 269,900

$ 1,009,196

32

Trend Key:

Home sales have been exceedingnew inventory for several weeks.Since this is a Buyer's market pricesare not yet moving higher as excessinventory is consumed. However,the as supply and demand trendscontinue, the market moves into theSeller's zone, and we are likely tosee upward pressure on pricing.

Page 17 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80303

Monday February 1, 2010

Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of thatcycle.

90-day Average7-day Average

Quartile PricesIn the quartile market segments, we see most of this zip code is showing price weakness lately. Notice however, that Quartile 4at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand has fallen (forexample, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes inthe area.

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

Page 18 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80303

Monday February 1, 2010

Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.

90-day Average7-day Average

Inventory of Properties Listed for SaleInventory 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.

90-day Average7-day Average

Page 19 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80303

Monday February 1, 2010

Market Action IndexThe BOULDER, 80303 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 18.24. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.

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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (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 thecurrent rate of sale versus current inventory.

Page 20 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80303

Monday February 1, 2010

Days on MarketThe properties have been on the market for an average of 231 days. Half of the listings have come newly on the market in thepast 210 or so days.

90-day Average7-day Average

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.

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

Page 21 of 31

Single Family Homes in

Median List Price

Median Lot Size

13.0

Percent Relisted (reset DOM)

2915

3.0

0 %

Median Number of Bathrooms

227

Inventory of Properties Listed

$ 329

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 799,000

28 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

18 %

Percent of Properties with Price Decrease

Strong Buyer'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 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

12 04860

1763.0 40

3.0

1

301

4.0 10

256

1

0

0.25 - 0.50acre

40

$ 634,000

2

2

10

4.0

0.25 - 0.50acre

04.0

1557 1.0 - 2.5acres

10

$ 397,450

3.5

168

0.25 - 0.50acre$ 1,129,350

4.0$ 2,195,000

18

0

3848

With inventory trending up but days-on-market trending down and theMarket Action Index essentially flatrecently, conditions do not seem tohave strong up or down pull.

Monday February 1, 2010

Anthony Knight

9

2168

2.0

The median list price in BOULDER, CO80302 this week is $799,000. The 39properties have been on the marketfor an average of 227 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±+

== ≠≠

≠=

BOULDER, CO80302

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

39

$ 4,695,000

$ 269,900

$ 1,108,812

43

Trend Key:

In terms of supply and demand, themarket is getting cooler - moresupply is coming on the marketrelative to the sales demand.However, in recent weeks priceshave been moving higher. Since it istechnically a Buyer's market, thisprice trend may be a result ofimproved quality (newer, largerhomes) of the homes being listed.Look at the descriptive statistics

Page 22 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80302

Monday February 1, 2010

Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.

90-day Average7-day Average

Quartile PricesIn the quartile market segments, we see price for this zip code in general with price stagnation in recent weeks. Quartile 4 isdown, while the rest of the market is basically flat. Look to the Market Action Index to determine if this plateau is the stage fora prolonged price decline.

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

Page 23 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80302

Monday February 1, 2010

Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.

90-day Average7-day Average

Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

90-day Average7-day Average

Page 24 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80302

Monday February 1, 2010

Market Action IndexThe BOULDER, 80302 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 13.04. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.

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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (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 thecurrent rate of sale versus current inventory.

Page 25 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80302

Monday February 1, 2010

Days on MarketThe properties have been on the market for an average of 227 days. Half of the listings have come newly on the market in thepast 161 or so days.

90-day Average7-day Average

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.

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

Page 26 of 31

Single Family Homes in

Median List Price

Median Lot Size

19.2

Percent Relisted (reset DOM)

3454

3.5

0 %

Median Number of Bathrooms

241

Inventory of Properties Listed

$ 332

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 749,500

20 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

30 %

Percent of Properties with Price Decrease

Strong Buyer'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 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

25 05736

1103.0 38

4.0

1

364

4.0 3

287

0

0

0.50 - 1.0acre

54

$ 749,000

0

0

3

5.0

0.25 - 0.50acre

03.5

2744 6,501 -8,000 sqft

2

$ 469,900

4.0

245

0.25 - 0.50acre$ 1,367,000

4.5$ 2,524,500

38

1

3756

The Market Action Index has beentrending down lately, while inventoryand days-on-market are climbing. Thetrends imply a weakening market.

Monday February 1, 2010

Anthony Knight

2

2408

3.0

The median list price in BOULDER, CO80305 this week is $749,500. The 10properties have been on the marketfor an average of 241 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±+

== ≠≠

≠=

BOULDER, CO80305

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

10

$ 2,650,000

$ 450,000

$ 1,154,090

41

Trend Key:

Home sales have been exceedingnew inventory for several weeks.However because of excessinventory, prices have not yetstopped falling. Should the salestrend continue, expect prices tolevel off soon and potentially toresume their climb from there.Watch prices as the markettransitions from a Buyer's market toa Seller's market.

Page 27 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80305

Monday February 1, 2010

Median PriceThis week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand willbe reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.

90-day Average7-day Average

Quartile PricesIn the quartile market segments, we see prices in most of this zip code trending higher in recent weeks. However the upper-middle section of the market (Quartile 2) is showing some weakness lately. Major trend changes typically start from the top orthe bottom of the market, so it is difficult to identify this as a significant indicator. Watch the Market Action Index Quartilebreakdown for Quartiles 1 and 2 for persistent weakness before projecting this narrow downtrend onto the market as a whole.

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

Page 28 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80305

Monday February 1, 2010

Price per Square FootWe're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actuallyincreasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.

90-day Average7-day Average

Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

90-day Average7-day Average

Page 29 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80305

Monday February 1, 2010

Market Action IndexThe BOULDER, 80305 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 19.17. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.

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 byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (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 thecurrent rate of sale versus current inventory.

Page 30 of 31

Single Family Homes in

Anthony Knight

Neighborhood DetailBOULDER, CO

80305

Monday February 1, 2010

Days on MarketThe properties have been on the market for an average of 241 days. Half of the listings have come newly on the market in thepast 231 or so days.

90-day Average7-day Average

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.

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

Page 31 of 31

Single Family Homes in