Your Local

MARKET UPDATE
SHERMAN OAKS, CA
91423

· 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

June 28, 2010

· Presented by Pickford Escrow - Los Angeles

Melissa Isler
misler@pickfordescrow.com
818-817-2580

Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2010 Altos Research LLC
 City Overview Single Family Homes in

Pickford Escrow
SHERMAN OAKS,
CA

This Week Real-Time Market Profile Trend

The median list price in SHERMAN Median List Price $ 850,000 ±+
OAKS, CA this week is $850,000. The Average List Price $ 1,017,279
269 properties have been on the Asking Price Per Square Foot $ 391 ≠≠
market for an average of 130 days. Average Days on Market (DoM) 130 ±+

Inventory of Properties Listed 269 ==

Most Expensive Listing $ 2,999,000

With inventory trending up but days- Least Expensive Listing $ 350,000

on-market and the Market Action Average Age of Listing 51

Index essentially flat recently, Percent of Properties with Price Decrease 45 %
conditions do not seem to have strong Percent Relisted (reset DOM) 15 %
up or down pull. Percent Flip (price increased) 5%
Median House Size (sq ft) 2374
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

The market has shown some Market Action Index Strong Buyer's 16.1 ±+
evidence of slowing recently. Both 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
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

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

0.25 - 0.50
Top/First $ 1,545,000 3754 acre 5.0 4.0 50 67 3 1 127 Most expensive 25% of properties

6,501 -
Upper/Second $ 979,000 2596 8,000 sqft 3.0 2.5 56 67 5 0 121 Upper-middle 25% of properties

6,501 -
Lower/Third $ 785,000 2100 8,000 sqft 3.0 2.0 57 67 5 4 124 Lower-middle 25% of properties

6,501 -
Bottom/Fourth $ 599,000 1648 8,000 sqft 3.0 1.8 62 68 5 2 146 Least expensive 25% of properties

Page 2 of 11 Monday June 28, 2010

 Single Family Homes in
City Overview
Pickford Escrow
SHERMAN OAKS,
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
Prices have been mixed-to-negative trends in recent weeks. Quartile 4 is down, while the rest of the market is basically flat.
Look to the Market Action Index to determine if this plateau is the stage for a prolonged price decline.

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

Page 3 of 11 Monday June 28, 2010

 Single Family Homes in
City Overview
Pickford Escrow
SHERMAN OAKS,
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 11 Monday June 28, 2010

 Single Family Homes in
City Overview
Pickford Escrow
SHERMAN OAKS,
CA

Market Action Index

The SHERMAN OAKS market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 16.05. 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 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 11 Monday June 28, 2010

 Single Family Homes in
City Overview
Pickford Escrow
SHERMAN OAKS,
CA

Days on Market
The properties have been on the market for an average of 130 days. Half of the listings have come newly on the market in the
past 70 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 11 Monday June 28, 2010

 Neighborhood Detail Single Family Homes in

Pickford Escrow
SHERMAN OAKS,
CA 91423

This Week Real-Time Market Profile Trend

The median list price in SHERMAN Median List Price $ 879,500 ==
OAKS, CA 91423 this week is Average List Price $ 1,037,528
$879,500. The 152 properties have Asking Price Per Square Foot $ 410 ±+
been on the market for an average of Average Days on Market (DoM) 132 ±+
132 days. Inventory of Properties Listed 152 ±+

Most Expensive Listing $ 2,849,000

With inventory, days-on-market, and Least Expensive Listing $ 350,000

the Market Action Index all recently Average Age of Listing 53

plateaued, the market is not sending Percent of Properties with Price Decrease 49 %
strong directional signal for the near- Percent Relisted (reset DOM) 14 %
term outlook. Percent Flip (price increased) 5%
Median House Size (sq ft) 2271
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

The market has shown some Market Action Index Strong Buyer's 14.6 ±+
evidence of slowing recently. Both 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
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

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

0.25 - 0.50
Top/First $ 1,572,500 3696 acre 4.5 4.2 51 38 1 0 174 Most expensive 25% of properties

6,501 -
Upper/Second $ 987,500 2432 8,000 sqft 3.0 2.5 59 38 1 0 122 Upper-middle 25% of properties

6,501 -
Lower/Third $ 799,000 2026 8,000 sqft 3.0 2.0 60 38 1 3 101 Lower-middle 25% of properties

6,501 -
Bottom/Fourth $ 644,000 1666 8,000 sqft 3.0 1.8 62 38 1 2 131 Least expensive 25% of properties

Page 7 of 11 Monday June 28, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow
SHERMAN OAKS,
CA 91423

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 the market's price weakness evident across the board. Quartiles 1, 2, and 1 have been
in price decline in recent weeks, with Quartile 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 8 of 11 Monday June 28, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow
SHERMAN OAKS,
CA 91423

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 9 of 11 Monday June 28, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow
SHERMAN OAKS,
CA 91423

Market Action Index

The SHERMAN OAKS, 91423 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market
Action Index stands at 14.57. 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 11 Monday June 28, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow
SHERMAN OAKS,
CA 91423

Days on Market
The properties have been on the market for an average of 132 days. Half of the listings have come newly on the market in the
past 63 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 11 Monday June 28, 2010