Union City Full Market Report (Week of October 28, 2013)

7/27/2019 Union City Full Market Report (Week of October 28, 2013)

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MARKET UPDATEIntero Real Estate Services

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

October 28, 2013

Presented by Intero Real Estate ServicesIntero Real Estate Services

www.Facebook.com/InteroEastBay510.651.6500

UNION CITY,

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2013 Altos Research LLC


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Median List Price

Median Lot Size

62.7

Percent Relisted (reset DOM)

1636

2.5

2 %

Median Number of Bathrooms

33

Inventory of Properties Listed

$ 349

Percent Flip (price increased)

4,501 - 6,500 sqft

Median House Size (sq ft)

$ 588,000

32 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

9 %

Percent of Properties with Price Decrease

Strong Seller's

+

==

==

+

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

16 22298

402.0 39

3.0

1

39

4.0 11

27

5

3

4,501 -6,500 sqft

42

$ 548,000

6

5

11

3.0

4,501 -6,500 sqft

12.5

12244,501 -

6,500 sqft

11

$ 479,976

4.0

26

4,501 -6,500 sqft$ 625,000

4.0$ 774,888

33

2

1877

The Market Action index has beentrending down lately, while days-on-market is climbing, providing mostlybearish signs for the market.

Monday October 28, 2013

Intero Real Estate Services | EastBay

11

1566

2.0

The median list price in UNION CITY,CA this week is $588,000. The 44

properties have been on the marketfor an average of 33 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+

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=

UNION CITY,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

44

$ 868,888

$ 419,000

$ 605,984

36

Trend Key:

In the last few weeks, the markethas been at a stasis point in terms ofsales to inventory. However, pricesseem to continue to fall a bit.Technically supply levels indicatethis is a Seller's market so it is likelythat the downward pricing pressurewill be light or variable. Watch foran up-shift in the MAI before pricestability is achieved.

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Single Family Home


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City OverviewUNION CITY,


Median PriceThis week prices bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected inthe Market Action Index, so watch that chart to try to identify a change in the market.

90-day Average7-day Average

Quartile PricesMost of the market segments are showing price weakness lately. Notice however, that Quartile 4 at the low-end of the market isstill on an up-trend. Often this condition happens in markets where demand has fallen (for example, due to micro-locationvariables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.

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

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Single Family Hom


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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.


Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.


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Single Family Hom


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Market Action IndexThe UNION CITY market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market ActionIndex stands at 62.74; indicating very little supply relative to the demand.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before thewhole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal aslowdown for the whole group.


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.

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Single Family Hom


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Days on MarketThe properties have been on the market for an average of 33 days. Half of the listings have come newly on the market in thepast 28 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.


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Single Family Hom

Documents

Union City Full Market Report (Week of October 28, 2013)