scottsdale condo market update

MARKET UPDATESolutions Real Estate

· Current Real Estate Market Conditions for Condos & Townhomes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics

· Report for the week of

January 16, 2012

SCOTTSDALE, AZ

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www.uniqueazhomes.com

[email protected]

Presented by Bruce ParhamSolutions Real Estate

Median List Price

28.6

Percent Relisted (reset DOM)

1356

2.0

2 %

Median Number of Bathrooms

204

Inventory of Properties Listed

$ 148

Percent Flip (price increased)

Median House Size (sq ft)

$ 215,000

32 %

2.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Buyer's Advantage

≠

=

±+

±+

≠

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

Bottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

6 62008

1912.0 26

2.0

11

212

2.0 159

150

15

11

32

$ 159,900

19

11

159

2.0

62.0

955

159

$ 79,000

2.0

264

$ 300,000

2.0$ 565,000

14

16

1592

The Market Action Index has beentrending down lately, indicatingdemand falling along with supply.Conditions point to mildly negativetrends for the market.

Monday January 16, 2012

159

1256

1.0

The median list price in SCOTTSDALE,AZ this week is $215,000. The 636properties have been on the marketfor an average of 204 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend±+

== ≠≠

≠=

SCOTTSDALE, AZCity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

636

$ 2,499,000

$ 11,000

$ 305,693

22

Trend Key:

Inventory levels have been relativelyconsistent relative to sales. Despitethe fact that there is a relativelyhigh amount of available inventory,this Buyer's market is still seeingprices move higher. Given inventorylevels, these price conditions arerelatively fragile. If the marketcools off further, the price trend islikely to reverse.

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Condos & Townhomes in

City OverviewSCOTTSDALE, AZ


Median PriceThe market continues its bounce again this week. We're a long way from the market's high point so watch the Market ActionIndex as a leading indicator for how long this trend will last.

90-day Average7-day Average

Quartile Prices shift(up or down) in the Market Action Index before prices move from these current levels.

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

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Price per Square Footonthe market are pricier, and also larger than older homes. As a result the value one can buy stays the same.


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


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Market Action IndexThe SCOTTSDALE market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market ActionIndex stands this week at 28.62 so buyers should expect to find reasonable levels of selection.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileThe lower end of the market (Quartiles 3 and 4) are in the Buyer's Market zone with several months of inventory given thecurrent rate of demand for homes in the quartile. The high-end of the market is showing demand strength in the Seller's Marketzone. Expect pricing conditions to be more favorable to buyers at the low end.


Buyers/Sellers Cutoff

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

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Days on MarketThe properties have been on the market for an average of 204 days. Half of the listings have come newly on the market in thepast 92 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Median List Price

26.2


1212

2.0

9 %


246


$ 177



$ 244,900

21 %

2.0

Market Action Index



n/a


Buyer's Advantage

≠

=

±+

≠

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


4 02090

3842.0 24

1.0

1

233

2.0 13

72

1

0

26

$ 120,000

2

0

14

2.0

02.0

779

13

$ 79,500

2.0

310

$ 399,000

2.0$ 995,000

12

2

1911

Inventory is tightening and days-on-market is falling. But demand asmeasured by the Market Action Indexis also trending down. The market isnot giving strong up or down signalsfrom these data.


13

1056

1.0

The median list price in SCOTTSDALE,AZ 85254 this week is $244,900. The53 properties have been on themarket for an average of 246 days.






No change



== ≠≠

≠=

SCOTTSDALE, AZ85254

Neighborhood Detail


Average List Price


53

$ 1,799,000

$ 69,900

$ 433,133

15

Trend Key:


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Neighborhood DetailSCOTTSDALE, AZ

85254


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


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


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85254


Price per Square Footonthe market are pricier, and also larger than older homes. As a result the value one can buy stays the same.




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85254


Market Action IndexThe SCOTTSDALE, 85254 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-dayMarket Action Index stands this week at 26.20 so buyers should expect to find reasonable levels of selection.


Market Action Index per QuartileThree of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the currentlevels of demand. Quartile 2 (the upper-middle price group) is showing stronger demand than the others, as a Seller's market.




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85254






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Median List Price

18.4


1856

2.0

0 %


326


$ 211



$ 392,500

50 %

2.0

Market Action Index



n/a


Strong Buyer's

±+

=

=

=

=




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


12 02182

842.0 6

2.5

0

491

2.0 2

124

0

0

9

$ 392,500

0

1

2

2.0

02.0

1795

1

$ 354,500

2.0

1050

$ 448,400

3.0$ 475,000

10

1

1808

Even though the days-on-market istrending higher, so is the MarketAction Index at these inventorylevels, providing a neutral outlook forthe market.


1

1856

2.0

The median list price in SCOTTSDALE,AZ 85266 this week is $392,500. The 6properties have been on the marketfor an average of 326 days.






No change



== ≠≠

≠=

SCOTTSDALE, AZ85266

Neighborhood Detail


Average List Price


6

$ 475,000

$ 349,000

$ 402,900

9

Trend Key:


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85266






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85266


Price per Square Footanimply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investmentopportunity in the area.


Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.


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85266


Market Action IndexThe SCOTTSDALE, 85266 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 18.42. With several months of inventory available at the current sales rate, buyers should find ample choice.


Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.




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85266






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Median List Price

28.3


1720

2.0

2 %


184


$ 194



$ 334,500

38 %

2.0

Market Action Index



n/a


Buyer's Advantage

±+

≠

±+

≠

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


10 12638

2192.0 10

2.0

3

194

2.0 16

128

1

0

12

$ 297,650

4

1

16

3.0

02.0

1280

16

$ 160,708

2.0

197

$ 389,450

3.0$ 572,000

4

1

1810

The Market Action Index has beentrending down recently, but as days-on-market decreases also, there arenot strong signals for the direction ofthe market.


16

1350

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85255

Neighborhood Detail


Average List Price


64

$ 1,595,000

$ 11,000

$ 376,375

9

Trend Key:

In a Buyer's market, the relativestasis in inventory and salesconditions has allowed prices to driftlower recently. Expect thatconsistent up trends in demand willbe required before price trendschange significantly.

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85255


Median PriceAgain this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-r atrough in prices.




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85255


Price per Square Foothemarket being priced at a premium. You can investigate this condition in the quartile details.




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85255




Market Action Index per QuartileThree of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the currentlevels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyersseem to be placing emphasis on the premium homes.




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85255






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Median List Price

16.4


2402

3.0

0 %


231


$ 191



$ 377,450

38 %

3.0

Market Action Index



n/a


Strong Buyer's

±+

±+

±+

≠

±+




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


9 03014

2452.0 10

3.0

0

108

2.0 6

218

0

0

6

$ 362,450

0

1

6

3.0

02.5

2190

6

$ 287,000

2.0

352

$ 434,500

3.0$ 724,950

14

0

2324

The Market Action Index has beenbasically flat recently, and days-on-market decreasing, there are notstrong signals for the direction of themarket.


6

2176

2.5







No change



== ≠≠

≠=

SCOTTSDALE, AZ85262

Neighborhood Detail


Average List Price


24

$ 895,000

$ 150,000

$ 443,292

10

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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85262


Median Priceexbefore we see prices move from these levels.




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85262


Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.




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85262








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85262






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Median List Price

30.5


1332

2.0

2 %


194


$ 145



$ 254,500

30 %

2.0

Market Action Index



n/a


Seller's Advantage

≠

=

≠

±+

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


5 01871

1582.0 41

2.0

3

164

2.0 41

100

3

4

38

$ 141,000

6

3

41

2.0

52.0

955

40

$ 65,000

2.0

357

$ 429,000

2.0$ 797,000

4

6

1312

The Market Action Index has beentrending down lately, indicatingdemand falling along with supply.Conditions point to mildly negativetrends for the market.


40

1406

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85251

Neighborhood Detail


Average List Price


162

$ 2,499,000

$ 19,000

$ 384,141

23

Trend Key:

In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone and prices have recentlyresumed upward pressure.

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85251


Median PricePrice trends in this zip code continued their recent uptrend this week. While still below the market's high point, we may beseeing the start of a good price stretch here. We'll look at the Market Action Index later in the report to gauge the leadingindicators.




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85251


Price per Square FootThis is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at firsteattributed to new and remodeled homes on the market. Buyers in the area are paying more but also getting more for theirmoney.




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85251


Market Action IndexThe SCOTTSDALE, 85251 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Indexstands at 30.49 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.


Market Action Index per QuartileThe lower end of this zip code are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. The high-end of the market is showing demand strength in the Seller's Market zone, while Quartiles 3 and 4 have aMarket Action Index below 30 (Buyer's Market).




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85251






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Median List Price

27.6


1298

2.0

3 %


206


$ 131



$ 167,950

29 %

2.0

Market Action Index



n/a


Buyer's Advantage

=

±+

≠

≠

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


9 01674

1512.0 18

2.0

3

123

2.0 20

174

1

3

19

$ 151,000

3

4

20

2.0

02.0

1029

20

$ 118,944

2.0

384

$ 194,950

2.0$ 285,000

14

0

1494

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.


19

1176

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85260

Neighborhood Detail


Average List Price


79

$ 350,000

$ 59,900

$ 185,205

16

Trend Key:


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85260






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85260


Price per Square FootWhile prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strengthin a market, larger homes are coming more available and buyers can see more home for their money.


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


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85260








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85260






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Median List Price

22.9


1356

2.0

0 %


223


$ 178



$ 245,000

36 %

2.0

Market Action Index



n/a


Strong Buyer's

≠

≠

±+

±+

=




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


21 22047

2112.0 27

2.0

1

210

2.0 35

233

3

3

28

$ 187,500

3

0

35

2.2

22.0

1063

35

$ 120,000

2.0

238

$ 324,900

2.0$ 482,000

26

1

1592

Inventory has been lightening latelyand the Market Action Index has beentrending up. These are mildly positiveindications for the market.


34

1262

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85258

Neighborhood Detail


Average List Price


139

$ 899,000

$ 65,000

$ 290,862

26

Trend Key:


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85258


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




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85258


Price per Square Foothemarket being priced at a premium. You can investigate this condition in the quartile details.




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85258








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85258






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Median List Price

30.0


1231

2.0

0 %


349


$ 106



$ 169,596

25 %

2.0

Market Action Index



n/a


Buyer's Advantage

≠

≠

≠

=

=




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


6 01401

2701.5 13

1.0

0

886

2.0 2

200

0

1

16

$ 108,950

0

0

2

2.0

02.0

731

2

$ 64,450

2.5

42

$ 219,596

2.0$ 332,000

10

0

1304

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.


2

1025

1.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85259

Neighborhood Detail


Average List Price


8

$ 349,000

$ 63,900

$ 181,249

11

Trend Key:


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85259


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




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85259


Price per Square FootThe market's light downward trends are shared across both price and value. People are recently placing less value on homesasa precursor to price and value changes, possibly as inflection points for good investment opportunities.




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85259




Market Action Index per QuartileThree of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the currentlevels of demand. Quartile 3 (the low-middle price group) is showing stronger demand than the others, a Seller's market.




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85259






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Median List Price

30.5


1578

2.0

2 %


156


$ 120



$ 171,000

35 %

3.0

Market Action Index



n/a


Seller's Advantage

≠

=

=

=

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


31 02054

1802.0 38

2.0

1

110

3.0 15

198

1

1

32

$ 144,242

3

1

15

2.5

02.0

962

15

$ 100,000

3.0

136

$ 199,900

3.0$ 348,000

39

3

1652

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.


15

1324

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85250

Neighborhood Detail


Average List Price


60

$ 759,000

$ 57,000

$ 210,757

33

Trend Key:

In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone and prices have recentlyresumed upward pressure.

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85250






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85250


Price per Square Footanimply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investmentopportunity in the area.




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85250


Market Action IndexThe SCOTTSDALE, 85250 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Indexstands at 30.54 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.


Market Action Index per QuartileThree of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the currentlevels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyersseem to be placing emphasis on the premium homes.




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85250






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Median List Price

27.8


943

1.0

5 %


167


$ 49



$ 49,900

22 %

2.0

Market Action Index



n/a


Buyer's Advantage

≠

±+

≠

=

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


38 11464

1821.0 40

1.0

0

136

2.0 10

188

0

2

50

$ 46,125

1

1

11

2.0

12.0

720

10

$ 29,000

2.0

162

$ 66,250

3.0$ 132,200

30

0

950

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.


10

950

1.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85257

Neighborhood Detail


Average List Price


41

$ 230,000

$ 25,900

$ 71,535

39

Trend Key:


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85257






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85257


Price per Square FootWhile prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strengthin a market, larger homes are coming more available and buyers can see more home for their money.




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85257








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85257






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Bruce [email protected]

scottsdale condo market update

Documents

market actionindex

buyers market

strengthening market

price trend

median pricethe market

square footonthe market

price conditions

price decreasebuyers