Appraiser Adjustment Matrix
Area Murrieta, CA Date 11/23/2010
|
Square Footage |
0-3 Months |
4-6 Months |
Difference |
|
2800-3000 |
$286,350 |
$275,000 |
$11,350 |
|
2600-2800 |
$261,000 |
$265,100 |
$-4100 |
|
difference |
$25,350 |
$9900 |
////////////////// |
|
2400-2600 |
$264,000 |
$260,000 |
$4000 |
|
difference |
$-3000 |
$5100 |
////////////////// |
|
2200-2400 |
$252,000 |
$245,000 |
$7000 |
|
difference |
$12,000 |
$15,000 |
////////////////// |
|
2000-2200 |
$230,000 |
$249,000 |
$-19,000 |
|
Difference |
$22,000 |
$-4000 |
////////////////// |
|
1800-2000 |
$221,000 |
$223,000 |
$-2000 |
|
Difference |
$9000 |
$26,000 |
////////////////// |
|
1600-1800 |
$215,000 |
$205,000 |
$10,000 |
|
Difference |
$6000 |
$18,000 |
////////////////// |
|
1400-1600 |
$198,750 |
$200,000 |
$-1250 |
|
difference |
$16,250 |
$5000 |
////////////////// |
|
1200-1400 |
$175,000 |
$192,500 |
$-17,500 |
|
difference |
$23,750 |
$7500 |
////////////////// |
|
Difference TOTAL |
$111,350 |
$82,500 |
$-11,500 |
|
Divide by 8 |
$13,919 |
$10,312.5 |
////////////////// |
|
Divide by 9 |
////////////////// |
///////////////// |
$-1278 |
|
Divide by 200 sq' |
= $ per Sq' $70 |
= $ per Sq' $52 |
////////////////// |
|
Divide by 90 days |
////////////////// |
///////////////// |
= $ per day $-14 |
Data used is median sales prices in the area - for either current to 3-months or 4-6 months; by house square footage ranges. In the gray boxes in the difference between the 2 median prices per the adjacent ranges. Data shows the difference in prices per square foot in the most recent 3-month period in Murrieta was $70 (that is a market derived adjustment per square foot). Between the 2... 3-month periods the median prices went down on average $14 per day (that is a loss of over $400 per month).
|
|
Total Number |
% Standard |
% REO |
% Short Sales |
||||||
|
Active Listings |
689 |
37% |
16% |
43% |
||||||
|
Pending Sales |
140 |
36% |
41% |
22% |
||||||
|
Closed Sales |
147 |
39% |
29% |
29% |
||||||
|
Sold 1-year ago |
236 |
29% |
45% |
25% |
||||||
|
Median sold prices |
Standard Sq' |
REO per Sq' |
Short per Sq' |
Standard DOM |
REO DOM |
Short sales DOM |
||||
|
2009 |
$116 |
$103 |
$98 |
45 |
21 |
123 |
||||
|
2010 |
$122 |
$95 |
$101 |
50 |
52 |
106 |
||||
Chart above show the decline in the number of homes sold in a 1-month period in 2009 (236) vs. 2010 (147) that is a decline of almost 38%. Most sales last year were REOs - this year most sales are standard sales. Most of the current listings are short sales, with the short sales taking the longest to sale. Additional research between listings and 1-month of pending sales were now have about 4.5 months of standing inventory; there was about 2.5 months of inventory at the end of April 2010. So we have dropping prices, increasing inventory and fewer sales.
Comments(0)