Christophe Choo's MARKET UPDATE

LOS ANGELES, CA 90024

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

September 05, 2011

Presented by Christophe Choo Real Estate Group - Locally Known. Globally Connected. Christophe Choo Real Estate Group www.ChristopheChoo.com - Christophechoo@aol.com (310)777-6342

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City Overview
Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

Single Family Homes in

LOS ANGELES, CA

This Week
The median list price in LOS ANGELES, CA this week is $315,000. The 4305 properties have been on the market for an average of 150 days.
Median List Price Average List Price

Real-Time Market Profile

$ 315,000 $ 850,087 $ 229 150 4305 $ 125,000,000 $ 49,900 72 36 % 12 % 6% 1414 4,501 - 6,500 sqft 3.0 2.0

Trend
+ == +

Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing

The Market Action index has been trending down lately, while days-onmarket is climbing, providing mostly bearish signs for the market.

Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms

Supply and Demand

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

Median Number of Bathrooms

Altos Research Value Statistics

Market Action Index Strong Buyer's 18.1 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 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

Trend Key:

No change

== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend

Characteristics per Quartile

Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

$ 1,300,000 $ 490,000 $ 240,000 $ 155,000

2744 1510 1284 1045

6,501 8,000 sqft 4,501 6,500 sqft 4,501 6,500 sqft 4,501 6,500 sqft

4.0 3.0 3.0 2.0

3.0 2.0 2.0 1.0

61 75 86 86

1076 1076 1076 1077

49 75 76 80

40 62 63 56

135 140 159 165

Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Page 2 of 11

Monday September 5, 2011

City Overview

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, CA

Median Price
Despite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

7-day Average

90-day Average

Quartile Prices
Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

First/Top

Second/Upper

Third/Lower

Fourth/Bottom

Page 3 of 11

Monday September 5, 2011

City Overview

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, 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 relatively steady around these levels in recent weeks.

7-day Average

90-day Average

Page 4 of 11

Monday September 5, 2011

City Overview

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, CA

Market Action Index

The LOS ANGELES market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 18.13. 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 changes.

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 Buyers 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 11

Monday September 5, 2011

City Overview

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, CA

Days on Market
The properties have been on the market for an average of 150 days. Half of the listings have come newly on the market in the past 98 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 September 5, 2011

Neighborhood Detail
Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

Single Family Homes in

LOS ANGELES, CA 90024 - Westwood

Trend
$ 1,747,000 $ 3,626,150 $ 628 90 40 $ 27,500,000 $ 990,000 69 28 % 2% 5% 3046 6,501 - 8,000 sqft 4.0 3.5 == ==

This Week
The median list price in LOS ANGELES, CA 90024 - Westwood this week is $1,747,000. The 40 properties have been on the market for an average of 90 days. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Median List Price Average List Price

Real-Time Market Profile

Asking Price Per Square Foot Average Days on Market (DoM) Inventory of Properties Listed Most Expensive Listing Least Expensive Listing Average Age of Listing Percent of Properties with Price Decrease Percent Relisted (reset DOM) Percent Flip (price increased) Median House Size (sq ft) Median Lot Size Median Number of Bedrooms

Supply and Demand

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.

Median Number of Bathrooms

Altos Research Value Statistics

Market Action Index Strong Buyer's 16.3 == 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 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

Trend Key:

No change

== Strong upward trend Strong downward trend = Slight upward trend Slight downward trend

Characteristics per Quartile

Quartile
Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

$ 4,447,500 $ 1,945,000 $ 1,495,000 $ 1,292,000

5435 3280 2697 2052

0.25 - 0.50 acre 8,001 10,000 sqft 6,501 8,000 sqft 6,501 8,000 sqft

5.0 4.5 3.0 3.0

5.5 3.5 3.2 2.2

76 76 79 72

10 10 10 10

0 0 0 0

0 0 0 1

105 90 94 72

Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Page 7 of 11

Monday September 5, 2011

Neighborhood Detail

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, CA 90024 - Westwood

Median Price
This week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a trough in the market.

7-day Average

90-day Average

Quartile Prices
In the quartile market segments, we see while the lower-half of the market has seen negative price pressures lately, prices in the upper-half of the market have been mixed. 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 8 of 11

Monday September 5, 2011

Neighborhood Detail

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, CA 90024 - Westwood

Price per Square Foot

We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to microlocation variables.

7-day Average

90-day Average

Inventory of Properties Listed for Sale

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

7-day Average

90-day Average

Page 9 of 11

Monday September 5, 2011

Neighborhood Detail

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, CA 90024 - Westwood

Market Action Index

The LOS ANGELES, 90024 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 16.26. 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 Buyers 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 10 of 11

Monday September 5, 2011

Neighborhood Detail

Single Family Homes in

Christophe Choo | Christophe Choo Real Estate Group | (310)777-6342

LOS ANGELES, CA 90024 - Westwood

Days on Market
The properties have been on the market for an average of 90 days. Half of the listings have come newly on the market in the past 77 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 September 5, 2011