This week the median list price for Atherton, CA is $13,498,000 with the market action index hovering around 46. This is less than last month's market action index of 48. Inventory has increased to 15
M a r k e t A c t i o n I n d e x
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
M a r k e t N a r r a t i v e
Home sales have been exceeding new inventory for several weeks However prices have not yet stopped falling Since the market is already in the Seller's zone, expect prices to level off very soon Should the sales trend continue expect that prices could climb from there.
M a r k e t S e g m e n t s
Median List Price
Median Price of New Listings
Per Square Foot
Average Days on Market
Median Days on Market
Price Decreased
Price Increased
Relisted Inventory
Median Rent Market Action
Strong Seller's Market
Each segment below represents approximately 25% of the market ordered by price.
Median Price
$33,247,500
$14,419,000 $11,187,500 $3,998,000
M e d i a n L i s t P r i c e
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
S e g m e n t s
P r i c e P e r S q u a r e F o o t
The market’s downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.
I n v e n t o r y
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
M a r k e t A c t i o n I n d e x
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
M e d i a n D a y s o n M a r k e t ( D O M ) The properties have been on the market for an average of 228 days. Half of the listings have come newly on the market in the past 85 or so days. Watch the 90-day DOM trend for signals of a changing market.
S e g m e n t s It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
