Jennifer Pritchett

MARKET UPDATE
TUSTIN, CA

· Current Real Estate Market Conditions for Single Family Homes

· Trends in Pricing
· Current Levels of Supply and Demand
· Value Metrics

· Report for the week of

February 15, 2010

· Presented by Your Orange County Real Estate Connection

Coldwell Banker Residential Brokerage
jpritchett@coldwellbanke.com
949-212-5279

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 City Overview Single Family Homes in

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

TUSTIN, CA

This Week Real-Time Market Profile Trend

The median list price in TUSTIN, CA Median List Price $ 584,500 ±+
this week is $584,500. The 146 Average List Price $ 744,492
properties have been on the market Asking Price Per Square Foot $ 287 ≠≠
for an average of 210 days. Average Days on Market (DoM) 210 ≠≠

Inventory of Properties Listed 146 ==

Most Expensive Listing $ 4,295,000

Demand measured by the Market Least Expensive Listing $ 155,000

Action Index is increasing and days- Average Age of Listing 30

on-market is trending downward. Percent of Properties with Price Decrease 27 %
Even as more properties come Percent Relisted (reset DOM) 10 %
available, these are positive trends Percent Flip (price increased) 10 %
for the market. Median House Size (sq ft) 2100
Median Lot Size 6,501 - 8,000 sqft
Median Number of Bedrooms 4.0

Supply and Demand

Median Number of Bathrooms 2.0

Altos Research Value Statistics

Home sales have been exceeding Market Action Index Buyer's Advantage 24.3 ==
new inventory for several weeks. The Market Action Index answers the question "How's the Market?" By measuring
the current rate of sale versus the amount of the inventory. Index above 30
Since this is a Buyer's market prices implies a seller's advantage. Below 30, conditions give the advantage to the
are not yet moving higher as excess buyer.
inventory is consumed. However,
the as supply and demand trends Trend Key: == Strong upward trend ≠≠ Strong downward trend
continue, the market moves into the ±+ No change = Slight upward trend ≠ Slight downward trend
Seller's zone, and we are likely to
see upward pressure on pricing.

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

6,501 -
Top/First $ 987,500 3231 8,000 sqft 4.0 3.5 10 36 4 3 266 Most expensive 25% of properties

4,501 -
Upper/Second $ 699,250 2400 6,500 sqft 4.0 2.5 15 36 3 4 205 Upper-middle 25% of properties

6,501 -
Lower/Third $ 520,000 1763 8,000 sqft 4.0 2.0 45 37 8 4 145 Lower-middle 25% of properties

6,501 -
Bottom/Fourth $ 400,000 1529 8,000 sqft 3.0 1.5 45 37 6 10 227 Least expensive 25% of properties

Page 2 of 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA

Median Price
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of
this trend.

7-day Average 90-day Average

Quartile Prices
While prices in the upper half of the market has shown essentially mixed pricing lately, the lower half of the market is trending
lower. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1 and 2 remaining basically flat. Look to the
Market Action Index as a leading indicator of the bottom of the market.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 3 of 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA

Price per Square Foot

While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength
in a market, larger homes are coming more available and buyers are tending to get more home for their money.

7-day Average 90-day Average

Inventory of Properties Listed for Sale

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market
Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

7-day Average 90-day Average

Page 4 of 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA

Market Action Index

The TUSTIN market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market Action
Index stands this week at 24.33 so buyers should expect find reasonable levels of selection.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of
inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market
shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

First/Top Second/Upper Third/Lower Fourth/Bottom

Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized by
analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage
zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 5 of 16 Monday February 15, 2010

 Single Family Homes in
City Overview
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA

Days on Market
The properties have been on the market for an average of 210 days. Half of the listings have come newly on the market in the
past 119 or so days.

7-day Average 90-day Average

Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 6 of 16 Monday February 15, 2010

 Neighborhood Detail Single Family Homes in

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

TUSTIN, CA
92782
This Week Real-Time Market Profile Trend
The median list price in TUSTIN, CA Median List Price $ 850,000 ≠≠
92782 this week is $850,000. The 62 Average List Price $ 1,096,834
properties have been on the market Asking Price Per Square Foot $ 316 ≠≠
for an average of 222 days. Average Days on Market (DoM) 222 ≠≠

Inventory of Properties Listed 62 ==

Most Expensive Listing $ 4,295,000

Demand measured by the Market Least Expensive Listing $ 450,000

Action Index is increasing and days- Average Age of Listing 11

on-market is trending downward. Percent of Properties with Price Decrease 27 %
Even as more properties come Percent Relisted (reset DOM) 10 %
available, these are positive trends Percent Flip (price increased) 6%
for the market. Median House Size (sq ft) 3052
Median Lot Size 4,501 - 6,500 sqft
Median Number of Bedrooms 4.0

Supply and Demand

Median Number of Bathrooms 3.0

Altos Research Value Statistics

Home sales have been exceeding Market Action Index Strong Buyer's 20.9 ==
new inventory for several weeks. The Market Action Index answers the question "How's the Market?" By measuring
the current rate of sale versus the amount of the inventory. Index above 30
However because of excess implies a seller's advantage. Below 30, conditions give the advantage to the
inventory, prices have not yet buyer.
stopped falling. Should the sales
trend continue, expect prices to Trend Key: == Strong upward trend ≠≠ Strong downward trend
level off soon and potentially to ±+ No change = Slight upward trend ≠ Slight downward trend
resume their climb from there.
Watch prices as the market
transitions from a Buyer's market to
a Seller's market.

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

8,001 -
Top/First $ 1,450,000 4400 10,000 sqft 5.0 4.5 8 15 0 1 215 Most expensive 25% of properties

6,501 -
Upper/Second $ 930,000 3173 8,000 sqft 4.0 3.0 13 15 1 2 303 Upper-middle 25% of properties

4,501 -
Lower/Third $ 823,000 2682 6,500 sqft 4.0 2.5 12 16 4 1 184 Lower-middle 25% of properties

Less than
Bottom/Fourth $ 630,000 2084 4,500 sqft 3.0 2.5 8 16 2 1 191 Least expensive 25% of properties

Page 7 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92782

Median Price
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their
absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading
indicator for a trough in prices.

7-day Average 90-day Average

Quartile Prices
In the quartile market segments, we see the market's price weakness evident across the board. Quartiles 2, 3, and 4 have been
in price decline in recent weeks, with Quartile 1 remaining basically flat. Look to the Market Action Index as a leading indicator
of the bottom of the market.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 8 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92782

Price per Square Foot

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.

7-day Average 90-day Average

Inventory of Properties Listed for Sale

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market
Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

7-day Average 90-day Average

Page 9 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92782

Market Action Index

The TUSTIN, 92782 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 20.94. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of
demand. Watch the quartiles for changes before the overall market shifts.

First/Top Second/Upper Third/Lower Fourth/Bottom

Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized by
analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage
zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 10 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92782

Days on Market
The properties have been on the market for an average of 222 days. Half of the listings have come newly on the market in the
past 147 or so days.

7-day Average 90-day Average

Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 11 of 16 Monday February 15, 2010

 Neighborhood Detail Single Family Homes in

Jennifer Pritchett Account | Coldwell Banker | 949-212-5279

TUSTIN, CA
92780
This Week Real-Time Market Profile Trend
The median list price in TUSTIN, CA Median List Price $ 467,000 ==
92780 this week is $467,000. The 84 Average List Price $ 484,430
properties have been on the market Asking Price Per Square Foot $ 266 ±+
for an average of 202 days. Average Days on Market (DoM) 202 ≠≠

Inventory of Properties Listed 84 ±+

Most Expensive Listing $ 929,000

The Market Action Index has been Least Expensive Listing $ 155,000

climbing lately while days-on-market Average Age of Listing 45

are trending down, these point to a Percent of Properties with Price Decrease 26 %
positive near-term outlook for the Percent Relisted (reset DOM) 11 %
market. Percent Flip (price increased) 12 %
Median House Size (sq ft) 1662
Median Lot Size 6,501 - 8,000 sqft
Median Number of Bedrooms 4.0

Supply and Demand

Median Number of Bathrooms 1.8

Altos Research Value Statistics

Home sales have been exceeding Market Action Index Buyer's Advantage 25.7 ==
new inventory for several weeks. The Market Action Index answers the question "How's the Market?" By measuring
the current rate of sale versus the amount of the inventory. Index above 30
Since this is a Buyer's market prices implies a seller's advantage. Below 30, conditions give the advantage to the
are not yet moving higher as excess buyer.
inventory is consumed. However,
the as supply and demand trends Trend Key: == Strong upward trend ≠≠ Strong downward trend
continue, the market moves into the ±+ No change = Slight upward trend ≠ Slight downward trend
Seller's zone, and we are likely to
see upward pressure on pricing.

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

6,501 -
Top/First $ 635,000 2310 8,000 sqft 4.0 2.0 45 21 2 3 242 Most expensive 25% of properties

6,501 -
Upper/Second $ 525,000 1972 8,000 sqft 4.0 2.0 45 21 5 3 143 Upper-middle 25% of properties

6,501 -
Lower/Third $ 440,000 1639 8,000 sqft 3.0 1.0 48 21 3 3 171 Lower-middle 25% of properties

Less than
Bottom/Fourth $ 375,000 1251 4,500 sqft 3.0 1.5 39 21 4 7 251 Least expensive 25% of properties

Page 12 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92780

Median Price
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the
Market Action Index to predict how long this trend will last.

7-day Average 90-day Average

Quartile Prices
In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 1 is on a bit of
an up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the
board move from these levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 13 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92780

Price per Square Foot

In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new
homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.

7-day Average 90-day Average

Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.

7-day Average 90-day Average

Page 14 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92780

Market Action Index

The TUSTIN, 92780 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market
Action Index stands this week at 25.74 so buyers should expect find reasonable levels of selection.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of
demand. Watch the quartiles for changes before the overall market shifts.

First/Top Second/Upper Third/Lower Fourth/Bottom

Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized by
analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage
zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the
current rate of sale versus current inventory.

Page 15 of 16 Monday February 15, 2010

 Single Family Homes in
Neighborhood Detail
Jennifer Pritchett Account | Coldwell Banker | 949-212-5279
TUSTIN, CA
92780

Days on Market
The properties have been on the market for an average of 202 days. Half of the listings have come newly on the market in the
past 91 or so days.

7-day Average 90-day Average

Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 16 of 16 Monday February 15, 2010