Temecula, California: Market Conditions for 11/19/2010

By
Real Estate Appraiser with BAYER APPRAISALS

Appraiser Adjustment Matrix

Area              Temecula                              Date 11/19/2010

Square Footage

0-3 Months

4-6 Months

Difference

2800-3000

$325,000

$330,000

$-5000

2600-2800

$315,000

$315,000

$0

difference

$10,000

$15,000

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2400-2600

$295,000

$295,000

$0

difference

$20,000

$20,000

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2200-2400

$285,000

$278,450

$6550

difference

$10,000

$16,550

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2000-2200

$263,000

$267,500

$-4500

Difference

$22,000

$10,950

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1800-2000

$242,950

$245,000

$-2050

Difference

$20,050

$22,500

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1600-1800

$238,000

$232,900

$5100

Difference

$4950

$12,100

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1400-1600

$210,000

$217,800

$-7800

difference

$28,000

$15,100

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1200-1400

$200,000

$200,000

$0

difference

$10,000

$17,800

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Difference TOTAL

$125,000

$130,000

$-7700

Divide by 8

$15,625

$16,250

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Divide by 9

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$-85

Divide by 200 sq'

= $ per Sq' $78

= $ per Sq'  $81

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Divide by 90 days

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= $ per day $-9.50

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.    The market driven difference in median price per square foot was $78 in the most recent 3-month period ($81 in the prior 3-month period) - this is an indication of a square footage adjustment.  Data indicates prices are in decline between the most recent 3-months vs. the prior 3-month period at the rate of $9.50 per day or about   $285 per month.  Data below is for a 1-month period (this year vs. last year) note the number of sales are down, median prices for distress sales are down, and it is taking longer for properties to sell.

 

Total Number

% Standard

% REO

% Short Sales

Active Listings

471

38%

20%

39%

Pending Sales

124

36%

31%

32%

Closed Sales

157

39%

24%

33%

Sold 1-year ago

190

33%

30%

34%

 

Median sold prices

Standard Sq'

REO per Sq'

Short per Sq'

Standard DOM

REO DOM

Short sales

DOM

2009

$134

$122

$119

32

24

111

2010

$136

$121

$118

47

40

124

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