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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,
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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
+
==
+
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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+
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=
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.
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Single Family Home
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPEORIA,
Monday April 2, 2012
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
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Single Family Hom
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPEORIA,
Monday April 2, 2012
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.
90-day Average7-day Average
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.
90-day Average7-day Average
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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPEORIA,
Monday April 2, 2012
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.
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 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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Kelli Grant Group | www.PhoenixHomeResource.com
City OverviewPEORIA,
Monday April 2, 2012
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.
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
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Single Family Hom