Bay Area Real Estate Market Newsletter
 
Multi-Units
September 2001
 
Please note: The monthly Bay Area Real Estate Market Newsletter is available via e-mail. Just send an e-mail to Subscription@CreeksideRealty.com and you will be added to the distribution list.
 

Section VIIa) - Multi-units

*San Mateo County*

AVAILABLE

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

Aug-99

DOI2,3

n/a

n/a

 

n/a

86.3

103.4

 

n/a

n/a

Inventory2

n/a

n/a

 

78

69

65

 

n/a

n/a

Sale/day2,3

n/a

n/a

 

n/a

0.94

0.63

R

n/a

n/a

DOM med2

n/a

n/a

C

69

81

69

I

n/a

n/a

DOM ave2

n/a

n/a

Y

93

108

108

C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

Apr-01

May-01

T

Jun-01

Jul-01

Aug-01

A

Aug-00

Aug-99

SP 0% min1

$356,000

$485,000

H

$565,000

$375,000

tbd

R

$262,500

$282,000

SP 10%1

$481,300

$535,000

I

$581,000

$543,000

tbd

D

$405,100

$315,000

SP 50%med1

$712,500

$825,000

A

$775,000

$757,500

tbd

C

$608,000

$447,500

SP 90%1

$1,490,000

$1,500,000

H

$973,600

$895,600

tbd

A

$986,000

$675,000

SP100%max1

$2,600,000

$1,505,000

A

$1,100,000

$1,100,000

tbd

L

$1,185,000

$2,002,000

LP med2

$795,000

$740,000

I

$787,475

$769,000

$674,475

H

$625,000

$469,000

SP/LP ave1

97.7%

96.0%

N

96.5%

97.0%

tbd

O

100.0%

94.4%

%SP>LP1

22.2%

18.2%

E

0.0%

0.0%

tbd

U

39.1%

19.2%

%SP<LP1

55.6%

72.7%

S

77.8%

100.0%

tbd

N

47.8%

69.2%

DOM med2

19

28

@

38

59

39

@

28

35

DOM ave2

25

55

C

50

65

62

C

45

51

# Sales2

19

14

R

13

26

23

R

23

26

% TFT1

n/a

n/a

E

7.7%

11.5%

tbd

E

n/a

n/a

 

 

 

E

 

 

 

E

 

 

CLOSINGS

Apr-01

May-01

K

Jun-01

Jul-01

Aug-01

K

Aug-00

Aug-99

SP 0% min2

$485,000

$356,000

S

$445,000

$485,000

$375,000

S

$340,000

$330,000

SP 10%2

$615,000

$485,500

I

$529,000

$576,000

$577,500

I

$427,400

$348,600

SP50% med2

$830,000

$725,000

D

$720,500

$812,500

$757,500

D

$563,000

$450,000

SP 90%2

$2,022,000

$1,193,000

E

$1,410,500

$1,460,000

$898,975

E

$860,000

$594,000

SP100%max2

$2,950,000

$1,425,000

R

$1,700,000

$2,600,000

$1,100,000

R

$1,895,000

$975,000

LP med2

$849,000

$725,000

E

$697,500

$862,000

$782,500

E

$650,000

$449,000

SP/LP ave2

100.5%

100.3%

A

97.9%

96.2%

97.3%

A

98.1%

98.8%

%SP>LP2

47.1%

47.6%

L

25.0%

8.3%

0.0%

L

27.8%

22.2%

%SP<LP2

52.9%

28.6%

T

65.0%

58.3%

87.5%

T

44.4%

66.7%

DOM med2

17

16

Y

20

18

41

Y

40

26

DOM ave2

37

18

.

26

39

56

.

47

46

#Closings2

17

21

C

20

12

16

C

18

27

Updated#1

n/a

n/a

O

20

12

tbd

O

n/a

n/a

 

 

 

M

 

 

 

M

 

 

OFFMARKET

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

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.

*Santa Clara County*

AVAILABLE

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

Aug-99

DOI2,3

139.22

140.78

 

123.3

182.4

136.2

 

60.75

n/a

Inventory2

179

181

 

162

172

144

 

92

89

Sale/day2,3

1.29

1.29

 

1.31

0.94

1.06

R

1.51

n/a

DOM med2

n/a

n/a

C

66

68

77

I

n/a

n/a

DOM ave2

n/a

n/a

Y

79

86

93

C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

Apr-01

May-01

T

Jun-01

Jul-01

Aug-01

A

Aug-00

Aug-99

SP 0% min1

$380,000

$349,950

H

$255,000

$370,000

tbd

R

$350,000

$215,000

SP 10%1

$416,200

$383,000

I

$470,000

$393,750

tbd

D

$432,485

$340,900

SP 50%med1

$663,000

$625,000

A

$675,000

$845,000

tbd

C

$620,000

$538,500

SP 90%1

$942,500

$1,125,900

H

$905,000

$955,750

tbd

A

$1,026,500

$747,400

SP100%max1

$1,545,000

$3,850,000

A

$1,800,000

$1,280,000

tbd

L

$1,675,000

$1,350,000

LP med2

$684,500

$650,000

I

$699,000

$885,000

$600,000

H

$634,000

$549,000

SP/LP ave1

98.8%

97.8%

N

94.9%

94.2%

tbd

O

98.8%

98.8%

%SP>LP1

16.7%

11.8%

E

3.2%

16.7%

tbd

U

22.7%

25.0%

%SP<LP1

54.2%

64.7%

S

83.9%

83.3%

tbd

N

54.6%

55.8%

DOM med2

22

30

@

68

34

39

@

42

19

DOM ave2

31

41

C

69

44

63

C

56

49

# Sales2

26

38

R

39

28

35

R

23

52

% TFT1

7.7%

2.6%

E

5.1%

7.1%

tbd

E

n/a

n/a

 

 

 

E

 

 

 

E

 

 

CLOSINGS

Apr-01

May-01

K

Jun-01

Jul-01

Aug-01

K

Aug-00

Aug-99

SP 0% min2

$233,000

$380,000

S

$349,950

$372,500

$255,000

S

$310,000

$250,000

SP 10%2

$476,000

$439,200

I

$391,250

$380,000

$460,100

I

$427,895

$328,000

SP50% med2

$692,500

$700,000

D

$632,500

$724,500

$702,500

D

$622,500

$465,000

SP 90%2

$1,077,500

$1,503,000

E

$1,348,500

$945,500

$953,000

E

$1,107,000

$641,500

SP100%max2

$9,850,000

$5,200,000

R

$4,300,000

$1,800,000

$1,280,000

R

$1,360,000

$1,850,000

LP med2

$707,500

$699,000

E

$644,975

$760,000

$733,725

E

$615,000

$454,500

SP/LP ave2

98.3%

97.8%

A

99.0%

95.9%

94.3%

A

98.7%

98.8%

%SP>LP2

17.1%

18.9%

L

14.7%

10.7%

7.1%

L

20.0%

12.0%

%SP<LP2

57.1%

51.4%

T

58.8%

67.9%

92.9%

T

50.0%

54.0%

DOM med2

17

28

Y

23

41

51

Y

33

30

DOM ave2

39

42

.

38

53

67

.

41

42

#Closings2

35

37

C

34

28

28

C

40

50

Updated#1

n/a

n/a

O

36

28

tbd

O

n/a

n/a

 

 

 

M

 

 

 

M

 

 

OFFMARKET

Apr-01

May-01

 

Jun-01

Jul-01

Aug-01

 

Aug-00

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 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.
DOI at 136 has returned to the previous months' levels. July's increase was caused by a drastic reduction in the number of sales/day.

Days on the market (DOM) for available listings continues to grow and has reached 77/93 (median/average) days.

DOI (136).is greater than average DOM (93).

Sales - data in this category is based on properties with an initiated sale (offer accepted) during the month.
Because of the few sales, expect the median price to bounce quite a bit. The bounce for July is far greater than would be expected and demonstrates the danger of statistical analysis on a small sample. The July bounce could be explained by a couple of high-end (over $885,000) properties coming onto the market and selling quickly. As expected August median fell, to $600,000. Nearly a 33% drop in one month. A great example of the monthly fluctuation caused by which properties sell in a given month opposed to an indication of market trends. That is why it is critical to look at other indicators. Also this unusual bounce should show in the closing category in the next month or two. Reviewing all data contained in the BAREMN, prices appear to be at the same relatively level of last year.

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 and August 39/63. In a stable market, DOI would equal the average DOM. So expect DOM to continue to increase.

The number of sales during the month of July dropped significantly. 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.
August's median sold price has remained basically unchanged for five-months although definitely on the high side,

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 fifteen properties are still selling over the asking price.

July's closings at 28 are about 60% of last year's level. Updated# is an adjusted number of reported closings

You may also want to read the statistical analysis for SMC and/or SCC single-family home market conditions to gain additional insights on the market conditions. The statistical data is presented in the same format for your review.

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.


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.


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