Bay Area Real Estate Market Newsletter
 
Multi-Units
November 2001
 

Section VIIa - November 2001

*SAN MATEM AOUNTY*

AVAILABLE

Jun-01

Jul-01

 

Aug-01

Sep-01

Oct-01

 

Oct-00

Oct-99

DOI2,3

n/a

86.3

 

103.4

142.1

125.3

 

n/a

n/a

Inventory2

78

69

C

65

69

68

R

n/a

n/a

Sale/day2,3

n/a

0.94

Y

0.63

0.49

0.54

I

n/a

n/a

DOM med2

69

81

N

69

70

75

C

n/a

n/a

DOM ave2

93

108

T

108

113

122

H

n/a

n/a

 

 

H

 

 

 

A

 

 

SALES4

Jun-01

Jul-01

I

Aug-01

Sep-01

Oct-01

R

Oct-00

Oct-99

SP 10%1

$567,000

$432,400

A

$496,400

$532,140

tbd

D

$497,800

$329,400

SP 50%med1

$762,500

$750,000

H

$680,000

$675,000

tbd

C

$675,000

$455,000

SP 90%1

$1,044,600

$1,075,000

A

$853,000

$2,352,000

tbd

A

$1,480,900

$996,000

LP med2

$787,475

$769,000

I

$649,000

$679,000

$780,750

L

$705,000

$465,000

SP/LP ave1

96.4%

97.5%

N

98.7%

98.1%

tbd

H

100.0%

100.2%

%SP>LP1

8.3%

5.9%

E

23.5%

16.7%

tbd

O

44.4%

40.0%

%SP<LP1

75.0%

88.2%

S

58.8%

66.7%

tbd

U

50.0%

28.0%

DOM med2

38

59

@

39

25

54

N

24

27

DOM ave2

50

65

C

62

62

65

@

30

48

# Sales2

13

26

R

23

13

16

C

18

25

% TFT1

7.7%

26.9%

E

17.4%

15.4%

tbd

R

n/a

n/a

 

 

 

E

 

 

 

E

 

 

CLOSINGS

Jun-01

Jul-01

K

Aug-01

Sep-01

Oct-01

E

Oct-00

Oct-99

SP 10%2

$529,000

$576,000

S

$577,500

$485,600

$512,000

K

$421,300

$385,000

SP50% med2

$720,500

$812,500

I

$757,500

$725,000

$680,000

S

$625,000

$462,500

SP 90%2

$1,410,500

$1,460,000

D

$898,975

$997,600

$1,028,000

I

$1,040,000

$693,600

LP med2

$697,500

$862,000

E

$782,500

$749,000

$690,000

D

$625,000

$477,000

SP/LP ave2

97.9%

96.2%

R

97.3%

98.7%

99.0%

E

100.1%

99.6%

%SP>LP2

25.0%

8.3%

E

0.0%

23.1%

30.8%

R

33.3%

42.9%

%SP<LP2

65.0%

58.3%

A

87.5%

53.8%

61.5%

E

48.2%

78.6%

DOM med2

20

18

L

41

41

28

A

28

32

DOM ave2

26

39

T

56

45

53

L

 

50

#Closings2

20

12

Y

16

13

13

T

27

28

Updated#1

22

12

.

20

13

tbd

Y

n/a

n/a

 

 

 

C

 

 

 

.

 

 

OFFMARKET

Jun-01

Jul-01

O

Aug-01

Sep-01

Oct-01

C

Oct-00

Oct-99

DOM med2

108

103

M

117

137

89

O

n/a

n/a

DOM ave2

126

110

 

125

172

109

M

n/a

n/a

#Off mark2

10

13

 

13

11

11

 

n/a

n/a

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 - November 2001

*SAN MATEO COUNTY*

AVAILABLE

Jun-01

Jul-01

 

Aug-01

Sep-01

Oct-01

 

Oct-00

Oct-99

DOI2,3

123.3

182.4

 

136.2

125.3

88.7

 

35.97

38.05

Inventory2

162

172

C

144

136

114

R

74

78

Sale/day2,3

1.31

0.94

Y

1.06

1.09

1.29

I

2.90

2.05

DOM med2

66

68

N

77

65

59

C

n/a

n/a

DOM ave2

79

86

T

93

85

89

H

n/a

n/a

 

 

 

H

 

 

 

A

 

 

SALES4

Jun-01

Jul-01

I

Aug-01

Sep-01

Oct-01

R

Oct-00

Oct-99

SP 10%1

$443,000

$414,600

A

$390,000

$383,475

tbd

D

$408,000

$311,180

SP 50%med1

$675,000

$860,000

H

$589,000

$585,000

tbd

C

$690,000

$503,000

SP 90%1

$923,000

$1,208,000

A

$1,727,538

$1,063,955

tbd

A

$1,296,000

$771,000

LP med2

$699,000

$895,000

I

$600,000

$650,000

$620,000

L

$669,000

$525,000

SP/LP ave1

95.3%

95.0%

N

97.9%

95.3%

tbd

H

101.0%

99.6%

%SP>LP1

6.1%

8.3%

E

16.0%

19.0%

tbd

O

42.4%

30.2%

%SP<LP1

78.8%

83.3%

S

76.0%

81.0%

tbd

U

39.0%

54.7%

DOM med2

68

34

@

39

49

69

N

27

33

DOM ave2

69

44

C

63

68

88

@

48

51

# Sales2

39

28

R

35

31

43

C

59

53

% TFT1

5.1%

10.7%

E

5.7%

6.5%

tbd

R

n/a

n/a

 

 

 

E

 

 

 

E

 

 

CLOSINGS

Jun-01

Jul-01

K

Aug-01

Sep-01

Oct-01

E

Oct-00

Oct-99

SP 10%2

$391,250

$380,000

S

$460,100

$406,800

$390,000

K

$429,800

$335,400

SP50% med2

$632,500

$724,500

I

$702,500

$562,500

$625,000

S

$600,000

$519,000

SP 90%2

$1,348,500

$945,500

D

$953,000

$969,500

$1,393,333

I

$807,000

$822,500

LP med2

$644,975

$760,000

E

$733,725

$573,500

$638,888

D

$579,000

$524,975

SP/LP ave2

99.0%

95.9%

R

94.3%

97.8%

96.2%

E

100.3%

99.3%

%SP>LP2

14.7%

10.7%

E

7.1%

25.0%

8.6%

R

33.3%

32.8%

%SP<LP2

58.8%

67.9%

A

92.9%

62.5%

82.9%

E

41.0%

44.8%

DOM med2

23

41

L

51

43

27

A

27

25

DOM ave2

38

53

T

67

57

45

L

46

62

#Closings2

34

28

Y

28

24

35

T

39

58

Updated#1

36

30

.

29

29

tbd

Y

n/a

n/a

 

 

 

C

 

 

 

.

 

 

OFFMARKET

Jun-01

Jul-01

O

Aug-01

Sep-01

Oct-01

C

Oct-00

Oct-99

DOM med2

88

121

M

125

163

140

O

n/a

n/a

DOM ave2

95

128

 

135

150

135

M

n/a

n/a

#Off mark2

29

26

 

41

31

28

 

n/a

n/a

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 - November 2001

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 improved significantly to 89 for October. Although good news, I believe it is more reflective of the small sample size and not a change in the market conditions. In fact several properties came on the market and sold rapidly.

Days on the market (DOM) for available listings actually decreased and has reached 59/89 (median/average) days.

DOI (89).is basically equal to the average DOM (89).

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

October’s media list price decreased to $620,000. Because of the few number of 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 months; March 21/41; April 22/31; May 30/41; June 68/69 (surprisingly high); and July 34/44, August 39/63, September 49/68, and October 69/88. In a stable market, DOI (now 89) would equal the average DOM (now 89). So expect DOM to decrease.

The number of sales/day during October increased to 1.3 sales/day. Although good that it is increasing 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.

October’s median sold price has increased to $625,000 and had been basically unchanged for five-months except for monthly fluctuations.

Fewer properties are selling over their asking price and more are selling below the asking price. Even in this buyer’s market 10% of the properties are still selling over the asking price.

October’s closings at 35 are nearly equals 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.

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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