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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
22 22356
362.0 39
4.0
2
47
4.0 9
33
2
1
4,501 -6,500 sqft
28
$ 548,000
0
3
9
3.0
4,501 -6,500 sqft
32.0
14494,501 -
6,500 sqft
9
$ 499,000
4.0
36
4,501 -6,500 sqft$ 615,000
4.0$ 751,944
38
5
1793
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 October 21, 2013
Intero Real Estate Services | EastBay
8
1548
2.0
The median list price in UNION CITY,CA this week is $575,000. The 35
properties have been on the marketfor an average of 38 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±+
== ≠≠
≠=
UNION CITY,
City Overview
Least Expensive Listing
Average List Price
Average Age of Listing
35
$ 858,888
$ 419,000
$ 599,498
38
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.
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 PricesPrice weakness is visible almost across the board. Prices in Quartile 4 have been mixed recently, while the rest of the market istrending downward. Look to a strong, persistent up shift in the Market Action Index as a leading indicator of the trough in themarket.
Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.
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.
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 61.07; 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.
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 Buyer’sAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.
Days on MarketThe properties have been on the market for an average of 38 days. Half of the listings have come newly on the market in thepast 35 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.