Your Local

MARKET UPDATE
LA JOLLA, CA 92037

· 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

August 23, 2010

· Presented by Pickford Escrow - San Diego

Pickford Escrow and The Escrow Firm
jcurtis@pickfordescrow.com
(858) 525-5478

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

Pickford Escrow and The Escrow Firm

LA JOLLA, CA
92037

This Week Real-Time Market Profile Trend

The median list price in LA JOLLA, CA Median List Price $ 2,295,000 ≠≠
92037 this week is $2,295,000. The Average List Price $ 3,743,562
315 properties have been on the Asking Price Per Square Foot $ 776 ±+
market for an average of 165 days. Average Days on Market (DoM) 165 ==

Inventory of Properties Listed 315 ==

Most Expensive Listing $ 42,000,000

Inventory and days-on-market are Least Expensive Listing $ 650,000

climbing, while the Market Action Average Age of Listing 34

Index has been flat recently. The Percent of Properties with Price Decrease 40 %
trends point to a weakening market. Percent Relisted (reset DOM) 10 %
Percent Flip (price increased) 3%
Median House Size (sq ft) 3131
Median Lot Size 0.25 - 0.50 acre
Median Number of Bedrooms 4.0

Supply and Demand

Median Number of Bathrooms 3.5

Altos Research Value Statistics

In terms of supply and demand, the Market Action Index Strong Buyer's 11.7 ±+
market is getting cooler - more 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
supply is coming on the market implies a seller's advantage. Below 30, conditions give the advantage to the
relative to the sales demand. buyer.
However, in recent weeks prices
have been moving higher. Since it is Trend Key: == Strong upward trend ≠≠ Strong downward trend
technically a Buyer's market, this ±+ No change = Slight upward trend ≠ Slight downward trend
price trend may be a result of
improved quality (newer, larger
homes) of the homes being listed.
Look at the descriptive statistics

Characteristics per Quartile

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

0.50 - 1.0
Top/First $ 5,972,500 5327 acre 5.0 5.0 20 78 4 4 230 Most expensive 25% of properties

0.25 - 0.50
Upper/Second $ 2,800,000 3716 acre 4.0 4.0 34 79 4 3 143 Upper-middle 25% of properties

8,001 -
Lower/Third $ 1,795,000 2486 10,000 sqft 4.0 3.0 42 79 5 3 159 Lower-middle 25% of properties

8,001 -
Bottom/Fourth $ 1,195,000 2083 10,000 sqft 3.0 2.5 38 79 5 5 129 Least expensive 25% of properties

Page 2 of 6 Monday August 23, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow and The Escrow Firm
LA JOLLA, CA
92037

Median Price
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that
cycle.

7-day Average 90-day Average

Quartile Prices
In the quartile market segments, we see prices in this zip code without strong directional trend lately. Prices in Quartiles 1 and
4 have been mixed in recent weeks, while Quartile 3 is down and Quartile 2 is up. Look to the Market Action Index to determine
when we may see a shift in prices from these current levels.

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

Page 3 of 6 Monday August 23, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow and The Escrow Firm
LA JOLLA, CA
92037

Price per Square Foot

Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the
market being priced at a premium. You can investigate this condition in the quartile details.

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 6 Monday August 23, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow and The Escrow Firm
LA JOLLA, CA
92037

Market Action Index

The LA JOLLA, 92037 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action
Index stands at 11.67. 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 balance between supply and demand using a statistical function
of the current rate of sale versus current inventory.

Page 5 of 6 Monday August 23, 2010

 Single Family Homes in
Neighborhood Detail
Pickford Escrow and The Escrow Firm
LA JOLLA, CA
92037

Days on Market
The properties have been on the market for an average of 165 days. Half of the listings have come newly on the market in the
past 112 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 6 Monday August 23, 2010