Appraiser Adjustment Matrix
Area Banning - Beaumont Date 11-18-2010
|
Square Footage |
0-3 Months |
4-6 Months |
Difference |
|
2800-3000 |
$220,750 |
$232,450 |
$-11,700 |
|
2600-2800 |
$221,250 |
$225,000 |
$-3750 |
|
difference |
$-500 |
$7450 |
////////////////// |
|
2400-2600 |
$193,000 |
$211,000 |
$-18,000 |
|
difference |
$28,250 |
$14,000 |
////////////////// |
|
2200-2400 |
$194,185 |
$204,100 |
$-9915 |
|
difference |
$-1185 |
$6900 |
////////////////// |
|
2000-2200 |
$187,200 |
$197,000 |
$-9800 |
|
Difference |
$6985 |
$7100 |
////////////////// |
|
1800-2000 |
$180,000 |
$185,000 |
$-5000 |
|
Difference |
$7200 |
$12,000 |
////////////////// |
|
1600-1800 |
$160,000 |
$170,000 |
$-10,000 |
|
Difference |
$20,000 |
$15,000 |
////////////////// |
|
1400-1600 |
$139,900 |
$150,000 |
$-10,100 |
|
difference |
$20,100 |
$20,000 |
////////////////// |
|
1200-1400 |
$120,000 |
$125,000 |
$-5000 |
|
difference |
$19,900 |
$25,000 |
////////////////// |
|
Difference TOTAL |
$100,750 |
$107,450 |
$-83,265 |
|
Divide by 8 |
$12,594 |
$13,431 |
////////////////// |
|
Divide by 9 |
////////////////// |
///////////////// |
$-9252 |
|
Divide by 200 sq' |
= $ per Sq' $63 |
= $ per Sq' $67 |
////////////////// |
|
Divide by 90 days |
////////////////// |
///////////////// |
= $ per day $-103 |
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. Results indicate the difference in sale prices per square foot were $63 for the current 3-month period and a slightly higher $67 per square foot for the prior 3-month period (this is a market derived square footage adjustment). Looking at the median prices by square footage for the 2 time periods indicates prices have declined about $103 per day (which would be about $3100 per month) this is a market in decline (at this time).
|
|
Total Number |
% Standard |
% REO |
% Short Sales |
||||||
|
Active Listings |
556 |
36% |
21% |
38% |
||||||
|
Pending Sales |
109 |
21% |
50% |
23% |
||||||
|
Closed Sales |
106 |
38% |
38% |
21% |
||||||
|
Sold 1-year ago |
130 |
25% |
56% |
15% |
||||||
|
Median sold prices |
Standard Sq' |
REO per Sq' |
Short per Sq' |
Standard DOM |
REO DOM |
Short sales DOM |
||||
|
2009 |
$100 |
$83 |
$86 |
135 |
57 |
134 |
||||
|
2010 |
$100 |
$80 |
$83 |
89 |
58 |
116 |
||||
Data above also reflects dropping prices, and fewer sales.
Listing numbers and trends vs. pending sales info over 1-month indicates about 5 months of standing inventory currently.
Beverly A. Bayer, SRA - local Real Estate Appraiser
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