C r e e k s i d e R e a l t y . c o m

Section VIIa) - Multi-units *SAN MATEO COUNTY* as of January 5, 2002
AVAILABLE Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 Dec-00 Dec-99
DOI2,3 103.4 142.1 125.3 83.7 186.7

R

 n/a n/a
Inventory2 65 69

C

 68 55 48

I

 n/a n/a
Sale/day2,3 0.63 0.49

Y

 0.54 0.66 0.26

C

 n/a n/a
DOM med2 69 70

N

 75 76 81

H

 n/a n/a
DOM ave2 108 113

T

 122 133 126

A

 n/a n/a

H

R
SALES4 Aug-01 Sep-01

I

 Oct-01 Nov-01 Dec-01

D

 Dec-00 Dec-99
SP 10%1 $496,400 $540,500

A

 $484,800 $472,000 tbd

C

 $547,500 $375,000
SP 50%med1 $680,000 $662,500

H

 $762,500 $593,750 tbd

A

 $738,000 $549,000
SP 90%1 $853,000 $1,390,000

A

 $920,000 $1,236,480 tbd

L

 $1,075,000 $698,000
LP med2 $649,000 $679,000

I

 $780,750 $612,500 $639,475

H

 $625,000 $549,000
SP/LP ave1 98.3% 98.7%

N

 97.7% 92.5% tbd

O

 104.4% 100.3%
%SP>LP1 21.1% 10.0%

E

 16.7% 10.0% tbd

U

 50.0% 40.0%
%SP<LP1 63.2% 50.0%

S

 66.7% 90.0% tbd

N

 16.7% 33.3%
DOM med2 39 25

@

 54 26 16

@

 16 17
DOM ave2 62 62

C

 65 48 37

C

 15 36
# Sales2 23 13

R

 16 21 8

R

 7 15
% TFT1 17.4% 23.1%

E

 0.0% 9.5% tbd

E

 14.3% #VALUE!

E

E
CLOSINGS Aug-01 Sep-01

K

 Oct-01 Nov-01 Dec-01

K

 Dec-00 Dec-99
SP 10%2 $577,500 $485,600

S

 $512,000 $502,400 $459,000

S

 $584,000 $325,500
SP50% med2 $757,500 $725,000

I

 $680,000 $675,000 $668,000

I

 $815,000 $480,000
SP 90%2 $898,975 $997,600

D

 $1,028,000 $2,159,997 $994,000

D

 $1,920,000 $667,200
LP med2 $782,500 $749,000

E

 $690,000 $749,950 $679,000

E

 $799,000 $449,000
SP/LP ave2 97.3% 98.7%

R

 99.0% 97.1% 95.4%

R

 103.7% 101.9%
%SP>LP2 0.0% 23.1%

E

 30.8% 6.7% 11.8%

E

 53.3% 45.8%
%SP<LP2 87.5% 53.8%

A

 61.5% 66.7% 70.6%

A

 33.3% 29.2%
DOM med2 41 41

L

 28 50 38

L

 22 18
DOM ave2 56 45

T

 53 53 59

T

 36 52
#Closings2 16 13

Y

 13 15 17

Y

 15 24
Updated#1 18 13

.

 13 16 tbd

.

 n/a n/a

C

C
OFFMARKET Aug-01 Sep-01

O

 Oct-01 Nov-01 Dec-01

O

 Dec-00 Dec-99<-td>
DOM med2 117 137

M

 89 203 144

M

 n/a n/a
DOM ave2 125 172 109 210 149 n/a n/a
#Off mark2 13 11 11 16 19 n/a n/a

 

C r e e k s i d e R e a l t y . c o m

Section VIIb) - Multi-units *SANTA CLARA COUNTY* as of January 5, 2002
AVAILABLE Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 Dec-00 Dec-99
DOI2,3 136.2 125.3 88.7 81.4 96.0

R

 74 20.41
Inventory2 144 136

C

 114 100 85

I

 74 50
Sale/day2,3 1.06 1.09

Y

 1.29 1.31 0.89

C

 1.00 2.45
DOM med2 77 65

N

 59 63 66

H

 n/a n/a
DOM ave2 93 85

T

 89 101 97

A

 n/a n/a

H

R
SALES4 Aug-01 Sep-01

I

 Oct-01 Nov-01 Dec-01

D

 Dec-00 Dec-99
SP 10%1 $390,000 $385,500

A

 $426,770 $434,366 tbd

C

 $474,000 $331,800
SP 50%med1 $580,000 $590,000

H

 $590,000 $685,920 tbd

A

 $660,000 $595,000
SP 90%1 $1,167,600 $1,065,000

A

 $912,070 $1,354,560 tbd

L

 $1,279,000 $1,006,000
LP med2 $600,000 $650,000

I

 $620,000 $698,500 $706,888

H

 $699,250 $592,450
SP/LP ave1 96.9% 95.4%

N

 95.1% 96.0% tbd

O

 99.0% 100.4%
%SP>LP1 12.5% 18.5%

E

 6.5% 0.0% tbd

U

 36.0% 40.0%
%SP<LP1 75.0% 77.8%

S

 83.9% 92.3% tbd

N

 40.0% 42.5%
DOM med2 39 49

@

 69 50 43

@

 29 21
DOM ave2 63 68

C

 88 93 97

C

 50 41
# Sales2 35 31

R

 43 38 29

R

 25 40
% TFT1 5.7% 9.7%

E

 14.0% 10.5% tbd

E

 0.0% #VALUE!

E

E
CLOSINGS Aug-01 Sep-01

K

 Oct-01 Nov-01 Dec-01

K

 Dec-00 Dec-99
SP 10%2 $460,100 $406,800

S

 $390,000 $433,000 $412,600

S

 $426,000 $330,255
SP50% med2 $702,500 $562,500

I

 $625,000 $595,000 $550,000

I

 $660,000 $519,000
SP 90%2 $953,000 $969,500

D

 $1,393,333 $992,000 $787,220

D

 $990,000 $873,000
LP med2 $733,725 $573,500

E

 $638,888 $668,000 $555,000

E

 $649,000 $512,475
SP/LP ave2 94.3% 97.8%

R

 96.2% 95.4% 95.5%

R

 100.6% 101.6%
%SP>LP2 7.1% 25.0%

E

 8.6% 10.3% 4.0%

E

 42.9% 36.6%
%SP<LP2 92.9% 62.5%

A

 82.9% 79.3% 84.0%

A

 38.8% 36.6%
DOM med2 51 43

L

 27 69 45

L

 18 21
DOM ave2 67 57

T

 45 94 63

T

 40 50
#Closings2 28 24

Y

 35 29 25

Y

 49 42
Updated#1 29 26

.

 36 32 tbd

.

 n/a n/a

C

C
OFFMARKET Aug-01 Sep-01

O

 Oct-01 Nov-01 Dec-01

O

 Dec-00 Dec-99
DOM med2 125 163

M

 140 108 179

M

 n/a n/a
DOM ave2 135 150 135 130 199 n/a n/a
#Off mark2 41 31 28 27 33 n/a n/a

 

C r e e k s i d e R e a l t y . c o m

Section VIIc) - Multi-units as of January 5, 2002

Multi-unit (income) properties have been included for both San Mateo County (SMC) and Santa Clara County (SCC). Santa Cruz, Monterey and San Benito simply don’t have enough data individually. Unfortunately, combining these counties doesn’t work as they are too dissimilar to get meaningful results. The written commentary uses the SCC data. However, you can look at the data for SMC as you read the analysis and you will get a good understanding of SMC market conditions. There appears to be a increase interest in multi family units especially in the more expensive areas. This may be a result of investors pulling their money out of stocks and investing in real estate.

Available - data in this category is based on properties currently available for sale, status 1.

DOI increased to 96 for December. This is likely attributable to the seasonal holiday slowdown. It is significantly better than earlier this year.

Days on the market (DOM) for available listings remained flat at 63/96 (median/average) days.

DOI (96) is the same as the average DOM (96). Under the condition of DOI approximately equal to DOM don’t expect DOM to change much.

Sales - data in this category is based on properties with an initiated sale (offer accepted) during the month.

November’s media List price increased slightly to $707,000. Because of the few number of sales, expect the median price to bounce quite a bit.

Notice the increase in DOM for sales earlier in 2001 appears to be replaced with relatively level DOM. In fact the median DOM has been dropping while the average DOM is flat. This can be explained by some units selling faster combined with other units that are less desirable selling now that the selection is reduced. These less desirable units will tend to have longer marketing times. DOI (now 85) would equal the average DOM (now 97).

The number of sales/day during December dropped to 0.89 sales/day. Although that is good considering sales typically decrease at this time. Monthly volume is not as significant as it does not account for the weekly real estate cycle it is included for completeness as most other reports will compare monthly volume.

CORRECTION: Sales/day data previously reported for multi-unit properties in SCC have been overstated significantly from April 16, 2000 to August 4, 2001. The data for this period of time has been corrected so this and future BAREMN will have correct data. However, past BAREMN will contain the incorrect data. The error appears to be caused by an incorrect formula in the spreadsheet used. to calculate the data. I am currently investigating to see if the data prior to April 15, 2000 was impacted.

Closings - data in this category is based on properties that closed escrow during the month.

December’s median Sold price dropped to $550,000 Expect this to increase based on the higher List price median.

Only 4% of the properties are still selling over the asking price.

December’s closings at 29 are nearly the same as last year’s level of 25.

Updated# is an adjusted number of reported closings

 

Table footnots: 1) Data related to Sold price is re-compiled early during the current month to incorporate recent closings without delaying the BAREMN. 2) Data is compiled on the 5th day of following month to agree with MLS policy. 3) DOI & Sales per day calculations use recent sales activity. 4) The data is still subject to change as these sales continue to close and the Sold prices are reported.

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Warning: The research done to gather the data in the BAREMN involves examining about 90,000 listings. With that much data, inaccuracies will occur. Additionally, numerous assumptions are made on how to handle this volume of data. Care is taken in gathering and processing the data and the information within this report is deemed reliable. BUT IT IS NOT GUARANTEED. The real estate market is cyclical and will continue to have its ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current and consistent market conditions by reporting leading market indicators in addition to traditional real estate data.