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8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
1/10
Current prices for condominiums, townhomes, TICs on the mark
Trends in priciCurrent levels of supply and dema
Value metri
LOS ANGELE
900
market updat
Christophe Choo'
Sunday October 24, 20
Report for the week
Christophe Choo Real Estate Gro
www.ChristopheChoo.com - [email protected]
Presented by Christophe Choo Real Estate Group - Locally Known. Globa
(310)777-63
Powered by Altos Research LLC Copyright 2005-2010. All Rights Reserved
www.altosresearch.com
http://www.altosresearch.com/http://www.altosresearch.com/8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
2/10
Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342
The median condominium price in
LOS ANGELES this week is $465,000.
The 1928 condos have been on the
market for an average of 152 days.
THIS WEEK
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 465,000
$ 625,589
$ 19,000,000
$ 60,000
1928
152Average Days on Market
Asking Price per Square Foot $ 365
256Absorbed This Week
Percent of Properties with Price Reductions 40 %
Percent Relisted (reset DOM) 9 %
Percent Flip (price increased) 5 %
City Overview LOS ANGELES
Altos Research Value Statistics
Market Action Index
Median Number of Bedrooms
Median Number of Bathrooms
Median Size (sq ft)
Median Age
1,269
2.0
2.0
23
18Cold! Buyer's Market
Altos Research calculates the Market Action Index which measures available supplyrelative to the current level of demand. Index value above 30 indicates conditions favorthe seller. See the section below for full details.
With inventory and days-on-market
basically unchanged and the MarketAction Index increasing, the market
isn't sending strong directional signal
for the near-term outlook.
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.
QUARTILES
Characteristics per Quartile
Last Month's Trend Last Quarter's Trend
Trend Key
No Clear Monthly/Quarterly Trend
Bed BathMed. SqftMed.Age Inven. New
Ab-sorbedMedian PriceQuartile
Avg.DoM
*Metric "Absorbed this Week" covers properties sold and those taken off the market for other reasons.Since sales sometimes take months to close, it is impossible to discern in real-time exactly which propertiessold.
Most expensive 25% of condos1,883 2.0 2.5 18 482 15 50$ 849,5001 167
Upper-middle 25% of condos1,420 2.0 2.0 21 482 14 55$ 543,5002 134
Lower-middle 25% of condos1,108 2.0 2.0 27 482 22 80$ 379,0003 155
Least expensive 25% of condos860 1.0 1.0 35 482 30 71$ 220,0004 156
We'll refer to the quartiles in the trend
graphs below.
2Christophe Choo's Market Update for LOS ANGELES
8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
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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
Price weakness is evident almost across
the board. Quartiles 2, 3, and 4 have
been in price decline in recent weeks,
with Quartile 1 remaining basically flat
Look to the Market Action Index as a
leading indicator of the bottom of the
market.
Often, we find insights by watching
pricing trends within the quartile
segments.
Christophe Choo's Market Update for LOS ANGELES
8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
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Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342
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 beforethe market moves from these levels.
PRICE AND VALUE
INVENTORY
Inventory has been relatively steady
around these levels in recent weeks.
4Christophe Choo's Market Update for LOS ANGELES
8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
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Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342
The condo market in LOS ANGELES is
currently quite strongly in the Buyer's
zone (below 30). The 90-day Market
Action Index stands at 18. With several
months of inventory available at the
current sales rate, buyers should find
ample choice.
The market has shown some evidence o
slowing recently. Both prices and
inventory levels are relatively
unchanged in recent weeks. Watch the
Market Action Index for changes as itcan be a leading indicator for price
changes.
The Market Action Index (MAI) illustrates the balance between supply and demand using astatistical function of the current rate of sale versus current inventory.
An MAI value greater than 30 typically indicates a Seller's Market (a.k.a. "Hot Market")because demand is high enough to quickly gobble up available supply. A hot market willtypically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "ColdMarket") where the inventory of already-listed homes is sufficient to last several months atthe current rate of sales. A cold market will typically cause prices to fall.
MARKET ACTION INDEXProperty prices are a function of supply and demand, and market conditions can becharacterized by analyzing those factors. Watch this index for sustained changes: if the indexfalls into the Buyers Market zone for a long period, prices are likely in for a downwardcorrection.
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 change
before the overall market shifts. Often
one end of the market (e.g. the low end)
will improve and signal a strengtheningmarket before the whole group changes
The quartiles can help you answer the question, "How hot is the market for homes in my pricerange?"
MARKET ACTION QUARTILES
Christophe Choo's Market Update for LOS ANGELES
8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
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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 138 days. Half
of the listings have come newly on the
market in the past 98 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.
6Christophe Choo's Market Update for LOS ANGELES
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Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342
90067Neighborhood DetailLOS ANGELES
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 1,195,000
$ 1,751,220
$ 14,300,000
$ 270,000
83
171Average Days on Market
Asking Price per Square Foot $ 616
5Absorbed This Week
The median condominium price in
LOS ANGELES 90067 this week is
$1,195,000.
THIS WEEK
Median Number of Bedrooms
Median Number of Bathrooms
Median Size (sq ft)
Median Age
1,767
2.0
2.4
35
Altos Research Value StatisticsMarket Action Index 16Cold! Buyer's Market
With inventory trending up but days-
on-market and the Market Action Inde
essentially flat recently, conditions
don't seem to have strong up or downpull.
PRICE
We continue to see prices in this zip
code bouncing around this plateau.
Look for a persistent up-shift in the
Market Action Index before we seeprices move from these levels.
Christophe Choo's Market Update for LOS ANGELES
8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
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Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342
PRICE PER QUARTILE
In the quartile market segments, we see
price for this zip code in general with
price stagnation in recent weeks.
Quartile 4 is down, while the rest of the
market is basically flat. Look to the
Market Action Index to determine if thiplateau is the stage for a prolonged
price decline.
QUARTILESharacteristics per QuartileBed BathMed. Sqft
Med.Age Inven. New
Ab-sorbedMedian PriceQuartile
Avg.DoM
Most expensive 25% of condos3,214 3.0 3.5 0 20 0 0$ 3,350,0001 203
Upper-middle 25% of condos2,357 2.0 2.5 30 21 0 0$ 1,495,0002 175
Lower-middle 25% of condos1,580 2.0 2.0 30 21 1 2$ 798,0003 148
Least expensive 25% of condos1,018 2.0 2.0 44 21 1 3$ 465,0004 161
INVENTORYInventory 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.
Christophe Choo's Market Update for LOS ANGELES
8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
9/10
Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342
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 INDEX
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 MARKETThe properties have been on the marke
for an average of 171 days. Half of the
listings have come newly on the market
in the past 126 or so days. Watch the 90
day DOM trend for signals of a changin
market.
Christophe Choo's Market Update for LOS ANGELES
8/8/2019 Christ Op He Choo Market Update [Condo]_CA_LOS ANGELES_90067
10/10
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 CorporationAltos Research Corp. reports real-time analysis of the residential real estate market in local markets acrossthe country. All information contained herein is based on properties currently listed for sale and availablepublicly. When evaluating a particular property, make sure you use comparable sales data in addition tothe market trend information available in this report. The data presented in this report is accurate to thebest of our knowledge, but cannot be guaranteed as such. Use this report as one input in the real estatedecision 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 alicensed real estate agent or broker.
Altos Research LLC Copyright 2005-2010. All Rights Reserved www.altosresearch.com
1Christophe Choo's Market Update for LOS ANGELES
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