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Bay Area Real Estate Market Newsletter
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Multi-Units
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October 2001
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Section VIIa - Multi-units *San Mateo County*
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AVAILABLE
|
May-01
|
Jun-01
|
|
Jul-01
|
Aug-01
|
Sep-01
|
|
Sep-00
|
Sep-99
|
Aug-99
|
DOI2,3
|
n/a
|
n/a
|
|
86.3
|
103.4
|
142.1
|
|
n/a
|
n/a
|
n/a
|
Inventory2
|
n/a
|
78
|
|
69
|
65
|
69
|
|
n/a
|
n/a
|
n/a
|
Sale/day2,3
|
n/a
|
n/a
|
|
0.94
|
0.63
|
0.49
|
R
|
n/a
|
n/a
|
n/a
|
DOM med2
|
n/a
|
69
|
C
|
81
|
69
|
70
|
I
|
n/a
|
n/a
|
n/a
|
DOM ave2
|
n/a
|
93
|
Y
|
108
|
108
|
113
|
C
|
n/a
|
n/a
|
n/a
|
|
|
|
N
|
|
|
|
H
|
|
|
|
SALES4
|
May-01
|
Jun-01
|
T
|
Jul-01
|
Aug-01
|
Sep-01
|
A
|
Sep-00
|
Sep-99
|
Aug-99
|
SP 0% min1
|
$485,000
|
$540,000
|
H
|
$375,000
|
$420,000
|
tbd
|
R
|
$343,000
|
$268,000
|
$282,000
|
SP 10%1
|
$540,000
|
$567,000
|
I
|
$430,000
|
$480,000
|
tbd
|
D
|
$444,000
|
$308,500
|
$315,000
|
SP 50%med1
|
$710,000
|
$762,000
|
A
|
$750,000
|
$685,000
|
tbd
|
C
|
$625,000
|
$463,125
|
$447,500
|
SP 90%1
|
$1,450,000
|
$1,000,000
|
H
|
$1,000,000
|
$933,000
|
tbd
|
A
|
$1,106,400
|
$568,050
|
$675,000
|
SP100%max1
|
$1,505,000
|
$1,100,000
|
A
|
$1,200,000
|
$1,700,000
|
tbd
|
L
|
$1,670,000
|
$1,055,000
|
$2,002,000
|
LP med2
|
$740,000
|
$787,475
|
I
|
$769,000
|
$674,475
|
$679,000
|
H
|
$620,000
|
$477,000
|
$469,000
|
SP/LP ave1
|
96.0%
|
96.0%
|
N
|
98.0%
|
98.0%
|
tbd
|
O
|
100.7%
|
99.9%
|
94.4%
|
%SP>LP1
|
18.2%
|
0.0%
|
E
|
6.7%
|
18.0%
|
tbd
|
U
|
41.4%
|
36.4%
|
19.2%
|
%SP<LP1
|
72.7%
|
80.0%
|
S
|
86.7%
|
55.0%
|
tbd
|
N
|
41.4%
|
59.1%
|
69.2%
|
DOM med2
|
28
|
38
|
@
|
59
|
39
|
25
|
@
|
44
|
18
|
35
|
DOM ave2
|
55
|
50
|
C
|
65
|
62
|
62
|
C
|
62
|
40
|
51
|
# Sales2
|
14
|
13
|
R
|
26
|
23
|
13
|
R
|
29
|
22
|
26
|
% TFT1
|
n/a
|
7.7%
|
E
|
26.9%
|
8.7%
|
tbd
|
E
|
n/a
|
n/a
|
n/a
|
|
|
|
E
|
|
|
|
E
|
|
|
|
CLOSINGS
|
May-01
|
Jun-01
|
K
|
Jul-01
|
Aug-01
|
Sep-01
|
K
|
Sep-00
|
Sep-99
|
Aug-99
|
SP 0% min2
|
$356,000
|
$445,000
|
S
|
$485,000
|
$375,000
|
$412,000
|
S
|
$343,000
|
$300,000
|
$330,000
|
SP 10%2
|
$485,500
|
$529,000
|
I
|
$576,000
|
$577,500
|
$485,600
|
I
|
$423,800
|
$355,800
|
$348,600
|
SP50% med2
|
$725,000
|
$720,500
|
D
|
$812,500
|
$757,500
|
$725,000
|
D
|
$740,000
|
$445,000
|
$450,000
|
SP 90%2
|
$1,193,000
|
$1,410,500
|
E
|
$1,460,000
|
$898,975
|
$997,600
|
E
|
$1,237,000
|
$676,000
|
$594,000
|
SP100%max2
|
$1,425,000
|
$1,700,000
|
R
|
$2,600,000
|
$1,100,000
|
$1,075,000
|
R
|
$4,150,000
|
$2,002,000
|
$975,000
|
LP med2
|
$725,000
|
$697,500
|
E
|
$862,000
|
$782,500
|
$749,000
|
E
|
$689,950
|
$459,000
|
$449,000
|
SP/LP ave2
|
100.3%
|
97.9%
|
A
|
96.2%
|
97.3%
|
98.7%
|
A
|
98.5%
|
99.4%
|
98.8%
|
%SP>LP2
|
47.6%
|
25.0%
|
L
|
8.3%
|
0.0%
|
23.1%
|
L
|
34.8%
|
40.7%
|
22.2%
|
%SP<LP2
|
28.6%
|
65.0%
|
T
|
58.3%
|
87.5%
|
53.8%
|
T
|
47.8%
|
48.1%
|
66.7%
|
DOM med2
|
16
|
20
|
Y
|
18
|
41
|
41
|
Y
|
38
|
19
|
26
|
DOM ave2
|
18
|
26
|
.
|
39
|
56
|
45
|
.
|
50
|
33
|
46
|
#Closings2
|
21
|
20
|
C
|
12
|
16
|
13
|
C
|
23
|
27
|
27
|
Updated#1
|
n/a
|
21
|
O
|
12
|
18
|
tbd
|
O
|
n/a
|
n/a
|
n/a
|
|
|
|
M
|
|
|
|
M
|
|
|
|
OFFMARKET
|
May-01
|
Jun-01
|
|
Jul-01
|
Aug-01
|
Sep-01
|
|
Sep-00
|
Sep-99
|
Aug-99
|
DOM med2
|
|
|
|
|
|
|
|
|
|
|
DOM ave2
|
|
|
|
|
|
|
|
|
|
|
#Off mark2
|
|
|
|
|
|
|
|
|
|
|
|
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. Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed. Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm. |
Section VIIb - Multi-units
*San Mateo County*
|
AVAILABLE |
May-01 |
Jun-01 |
|
Jul-01 |
Aug-01 |
Sep-01 |
|
Sep-00 |
Sep-99 |
|
DOI2,3 |
140.78 |
123.3 |
|
182.4 |
136.2 |
125.3 |
|
53.42 |
34.29 |
|
Inventory2 |
181 |
162 |
|
172 |
144 |
136 |
|
87 |
84 |
|
Sale/day2,3 |
1.29 |
1.31 |
|
0.94 |
1.06 |
1.09 |
R |
2.28 |
2.50 |
|
DOM med2 |
n/a |
66 |
C |
68 |
77 |
65 |
I |
n/a |
n/a |
|
DOM ave2 |
n/a |
79 |
Y |
86 |
93 |
85 |
C |
|
|
|
|
|
|
N |
|
|
|
H |
|
|
|
SALES4 |
May-01 |
Jun-01 |
T |
Jul-01 |
Aug-01 |
Sep-01 |
A |
Sep-00 |
Sep-99 |
|
SP 0% min1 |
$349,950 |
$255,000 |
H |
$370,000 |
$300,000 |
tbd |
R |
$400,000 |
$240,000 |
|
SP 10%1 |
$385,000 |
$443,000 |
I |
$415,000 |
$400,000 |
tbd |
D |
$437,000 |
$327,500 |
|
SP 50%med1 |
$630,000 |
$675,000 |
A |
$860,000 |
$575,000 |
tbd |
C |
$630,000 |
$500,000 |
|
SP 90%1 |
$1,120,000 |
$908,000 |
H |
$1,200,000 |
$1,650,000 |
tbd |
A |
$909,000 |
$910,500 |
|
SP100%max1 |
$3,850,000 |
$1,800,000 |
A |
$3,800,000 |
$3,800,000 |
tbd |
L |
$1,635,000 |
$3,100,000 |
|
LP med2 |
$650,000 |
$699,000 |
I |
$885,000 |
$600,000 |
$650,000 |
H |
$620,000 |
$509,475 |
|
SP/LP ave1 |
97.8% |
95.1% |
N |
94.9% |
98.0% |
tbd |
O |
100.7% |
100.1% |
|
%SP>LP1 |
11.8% |
6.3% |
E |
10.0% |
20.0% |
tbd |
U |
41.4% |
41.7% |
|
%SP<LP1 |
64.7% |
81.3% |
S |
80.0% |
70.0% |
tbd |
N |
41.4% |
36.1% |
|
DOM med2 |
30 |
68 |
@ |
34 |
39 |
49 |
@ |
29 |
16 |
|
DOM ave2 |
41 |
69 |
C |
44 |
63 |
68 |
C |
43 |
38 |
|
# Sales2 |
38 |
39 |
R |
28 |
35 |
31 |
R |
45 |
36 |
|
% TFT1 |
5.3% |
5.1% |
E |
10.7% |
2.9% |
tbd |
E |
n/a |
n/a |
|
|
|
|
E |
|
|
|
E |
|
|
|
CLOSINGS |
May-01 |
Jun-01 |
K |
Jul-01 |
Aug-01 |
Sep-01 |
K |
Sep-00 |
Sep-99 |
|
SP 0% min2 |
$380,000 |
$349,950 |
S |
$372,500 |
$255,000 |
$366,500 |
S |
$335,000 |
$145,000 |
|
SP 10%2 |
$439,200 |
$391,250 |
I |
$380,000 |
$460,100 |
$406,800 |
I |
$437,200 |
$325,000 |
|
SP50% med2 |
$700,000 |
$632,500 |
D |
$724,500 |
$702,500 |
$562,500 |
D |
$729,500 |
$560,000 |
|
SP 90%2 |
$1,503,000 |
$1,348,500 |
E |
$945,500 |
$953,000 |
$969,500 |
E |
$1,261,200 |
$947,000 |
|
SP100%max2 |
$5,200,000 |
$4,300,000 |
R |
$1,800,000 |
$1,280,000 |
$1,975,000 |
R |
$2,350,000 |
$3,025,000 |
|
LP med2 |
$699,000 |
$644,975 |
E |
$760,000 |
$733,725 |
$573,500 |
E |
$732,000 |
$578,000 |
|
SP/LP ave2 |
97.8% |
99.0% |
A |
95.9% |
94.3% |
97.8% |
A |
99.8% |
98.2% |
|
%SP>LP2 |
18.9% |
14.7% |
L |
10.7% |
7.1% |
25.0% |
L |
30.8% |
26.5% |
|
%SP<LP2 |
51.4% |
58.8% |
T |
67.9% |
92.9% |
62.5% |
T |
51.9% |
59.2% |
|
DOM med2 |
28 |
23 |
Y |
41 |
51 |
43 |
Y |
25 |
29 |
|
DOM ave2 |
42 |
38 |
. |
53 |
67 |
57 |
. |
40 |
56 |
|
#Closings2 |
37 |
34 |
C |
28 |
28 |
24 |
C |
52 |
49 |
|
Updated#1 |
n/a |
36 |
O |
28 |
29 |
tbd |
O |
n/a |
n/a |
|
|
|
|
M |
|
|
|
M |
|
|
|
OFFMARKET |
May-01 |
Jun-01 |
|
Jul-01 |
Aug-01 |
Sep-01 |
|
Sep-00 |
Sep-99 |
|
DOM med2 |
|
|
|
|
|
|
|
|
|
|
DOM ave2 |
|
|
|
|
|
|
|
|
|
|
#Off mark2 |
|
|
|
|
|
|
|
|
|
|
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. Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed. Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm. |
|
Section VIIc - Multi-units 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. This analysis uses the SCC data. However, you can look at the SMC data as you read this analysis and you will get a good understanding of the market conditions for SMC. The multi-unit market appears to follow the single-family market in their respective County with a time lag. Available
- data in this category is based on properties currently available
for sale, status 1. Days on the
market (DOM) for available listings actually decreased and has
reached 65/85 (median/average) days. Sales - data
in this category is based on properties with an initiated sale
(offer accepted) during the month. Notice DOM for sales during the past five months; March 21/41; April 22/31; May 30/41; June 68/69 (surprisingly high); and July 34/44, August 39/63, and September 49/68.. In a stable market, DOI (now 125) would equal the average DOM (now 85). So expect DOM to continue to increase. The reason for the improvement in August despite this same condition is DOI hasn't been corrected to account for properties taken off the market without selling. The number of sales/day during September remains level at 1.1 sales/day. Although good that it is not falling it is only ½ previous years levels.. Although monthly volume does not account for the weekly real estate cycle it is included for completeness as most other reports will compare monthly volume. Percent of transactions fallen through ( %TFT) increased significantly from 1999 and 2000 to 2001. Closings -
data in this category is based on properties that closed escrow
during the month. Fewer properties are selling over their asking price and more are selling below the asking price continues. Even in this buyer's market one in four properties are still selling over the asking price. I believe that most of the positive news could be explained by a few aggressively priced properties coming onto the market selling quickly and for more than the asking price. September's
closings at 24 are about 50% of last year's level. Updated# is
an adjusted number of reported closings. Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm.
|
