Teles intelligence
micro market report san fernando valley April 2012 | SINGLE FAMILY HOMES REPORT
April 2012
Market Trends Act As Strategic Tail Winds Pushing Market Upwards
Our research team recently published a Q1 Report on the market trends that point to the relative strategic timing to sell a home since the market downturn in late 2007/early 2008. The three major trends that we discussed were:
1. Supply Compression: A major decline in homes on market available for sale 2. Demand Expansion: Increase in buyer demand to buy homes 3. Interest Rates Environment: All-time low interest rates
The data tells us that without question, that now is the best time to sell a home since the recent market crisis of 2007/2008. How can we further analyze this? Broad market indicators are good sign posts, especially when several key indicators are pointing in a similar direction. The next step in the process is attached in our micro market analysis. With the macro market indicators acting as tail winds, it is time to analyze the landscape in your micro market environment.
We encourage you to review the Q1 Research Report on market trends and this issue of the micro market report, and if you are thinking of buying or selling a home to contact your real estate professional to discuss the trends in your market.
All the Best!
S harr an S ri vats aa
Purchase Beautifully. At Riviera Financial, the business of real estate finance is about much more than loans. It is about offering diverse and competitive products; advising borrowers to make informed choices to support and protect their security; and providing extraordinarily thorough customer care. Our customers expect and deserve the highest level of service and performance in all of their borrowing activities. When it comes to dedicated, comprehensive real estate finance, Riviera Financial helps you purchase beautifully.
Get the full lending experience at rivierafinancial.com or contact a loan professional by calling 424.203.1850
r i v i e r a f i n a n c i a l . c o m 4 Locations to Serve You | Beverly Hills, Brentwood, Newport Beach & Pasadena Riviera Financial dba Mortgage Capital Partners, Inc. NMLS#239902 California Real Estate #00931610
Reading the Report
“Each Micro Market area contains an analysis of current conditions and past trends. In order to take the most away from this report, it is important to understand how to read each micro market.
The Data presents statistical information about past and current conditions, comparing the previous year’s month to the current month. Each statistic is compiled from sales data during the month of the respective year. It is then analyzed by Percent Change, which is calculated by taking Current Value minus Past Value and then divided by Past Value.
The Numbers is a compilation of important take-away statistics for each area to gain a quick understanding of market conditions. Median Sales Price and Days on Market are 12 month averages for the period ending in the current month. The values for Properties for Sale and Shadow Inventory are presented in both text and graphical form to show the relationship of Shadow to Active Inventory.
The Yearly Trend presents the Median Sales Prices for each month during the past year in graphical format to easily visualize the changes and help identify any trends in sales for that micro market.
Median Price:
Days of market (Pending Sale):
A value that separates the upper half
The number of days that properties
of prices from the lower half of prices.
currently in escrow were on the market.
It can be interpreted like an average, however the extreme prices (high and
Month’s Supply of Inventory:
low) don’t hold undue influence.
The number of months it would take to sell all the properties listed for sale at
Average Price per Square Foot:
the current pace of sales and if no new
The price of each property divided by
listings entered the market.
their respective square footage then averaged across all properties sold in
Percent Under Contract:
the area for a given time period.
The ratio of properties for sale to properties pending sale.
Properties Sold:
The number of property transactions
Average Median Price for Last 12:
that closed and transferred ownership.
The Average Median Price for the Last 12 Months is sales data from 12 months
Properties Pending Sale:
ending in the identified month
The number of properties that entered escrow in preparation for sale.
Shadow Inventory:
Properties in Pre-Foreclosure, Bank Properties For Sale:
Owned or Auction as identified by
The number of properties on the
ForeclosureRadar.com
market and seeking buyers.
san fernando
san gab
los ang
San Fernando Macro Market
Glendale
Shadow Hills
Burbank
La Crescenta
Sherman Oaks
Encino
North Hollywood
Studio City
Micro Market Report : April 2012
telesintelligence.com
briel
south bay
geles
orange county Sun Valley
Valley Village
Sunland - Tujunga
Woodland Hills
Toluca Lake
April 2012 : Micro Market Report
San Fernando Macro Market DATA *
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$566,077
$553,923
-2.1%
Average Price per Square Foot ...........................
$305
$298
-2.3%
Properties Sold .......................................................
376
380
1.1%
Properties Pending Sale .......................................
431
558
29.5%
Properties For Sale ................................................
1984
974
-50.9%
Days on Market (Pending Sale) ...........................
75
67
-10.7%
Month’s Supply of Inventory ................................
5.3
2.6
-51.4%
Percent Under Contract ........................................
21.7%
57.3%
163.7%
Average Median Price for Last 12 Months ........
$616,637
$540,584
-12.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in South Bay Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
$566
M E D I A N
S A L E S
(in hundred thousands)
$553
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
Burbank DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$510,000
$510,000
0.0%
Average Price per Square Foot ...........................
$344
$319
-7.3%
Properties Sold .......................................................
49
34
-30.6%
Properties Pending Sale .......................................
38
69
81.6%
Properties For Sale ................................................
190
87
-54.2%
Days on Market (Pending Sale) ...........................
70
63
-10.0%
Month’s Supply of Inventory ................................
3.9
2.6
-34.0%
Percent Under Contract ........................................
20.0%
79.3%
296.6%
Average Median Price for Last 12 Months ........
$524,462
$487,000
-7.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$510
M E D I A N
S A L E S
(in hundred thousands)
$510
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$487,000
PROPERTIES FOR SALE
87
DAYS ON MARKET**
66
SHADOW INVENTORY
293
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Encino DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$870,000
$928,000
6.7%
Average Price per Square Foot ...........................
$345
$318
-7.8%
Properties Sold .......................................................
26
38
46.2%
Properties Pending Sale .......................................
37
42
13.5%
Properties For Sale ................................................
190
81
-57.4%
Days on Market (Pending Sale) ...........................
101
73
-27.7%
Month’s Supply of Inventory ................................
7.3
2.1
-70.8%
Percent Under Contract ........................................
19.5%
51.9%
166.3%
Average Median Price for Last 12 Months ........
$745,923
$792,615
6.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$928
M E D I A N
S A L E S
(in hundred thousands)
$870
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$792,615
PROPERTIES FOR SALE
81
DAYS ON MARKET**
82
SHADOW INVENTORY
179
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Glendale DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$570,000
$607,000
6.5%
Average Price per Square Foot ...........................
$330
$313
-5.2%
Properties Sold .......................................................
51
49
-3.9%
Properties Pending Sale .......................................
67
69
3.0%
Properties For Sale ................................................
272
140
-48.5%
Days on Market (Pending Sale) ...........................
68
58
-14.7%
Month’s Supply of Inventory ................................
5.3
2.9
-46.4%
Percent Under Contract ........................................
24.6%
49.3%
100.1%
Average Median Price for Last 12 Months ........
$626,846
$563,077
-10.2%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$607
M E D I A N
S A L E S
(in hundred thousands)
$570
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$563,077
PROPERTIES FOR SALE
140
DAYS ON MARKET**
77
SHADOW INVENTORY
332
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
La Crescenta DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$533,000
$530,000
-0.6%
Average Price per Square Foot ...........................
$318
$307
-3.5%
Properties Sold .......................................................
19
16
-15.8%
Properties Pending Sale .......................................
14
23
64.3%
Properties For Sale ................................................
75
24
-68.0%
Days on Market (Pending Sale) ...........................
115
84
-27.0%
Month’s Supply of Inventory ................................
3.9
1.5
-62.0%
Percent Under Contract ........................................
18.7%
95.8%
413.4%
Average Median Price for Last 12 Months ........
$582,077
$553,923
-4.8%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
$530
(in hundred thousands)
$582
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$553,923
PROPERTIES FOR SALE
24
DAYS ON MARKET**
96
SHADOW INVENTORY
91
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
North Hollywood DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$312,000
$292,000
-6.4%
Average Price per Square Foot ...........................
$238
$224
-5.9%
Properties Sold .......................................................
52
40
-23.1%
Properties Pending Sale .......................................
48
62
29.2%
Properties For Sale ................................................
237
88
-62.9%
Days on Market (Pending Sale) ...........................
58
72
24.1%
Month’s Supply of Inventory ................................
4.6
2.2
-51.7%
Percent Under Contract ........................................
20.3%
70.5%
247.9%
Average Median Price for Last 12 Months ........
$321,769
$303,462
-5.7%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$312
M E D I A N
S A L E S
(in hundred thousands)
$292
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$303,462
PROPERTIES FOR SALE
88
DAYS ON MARKET**
74
SHADOW INVENTORY
398
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Shadow Hil s DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$658,000
$450,000
-31.6%
Average Price per Square Foot ...........................
$213
$258
21.1%
Properties Sold .......................................................
2
1
-50.0%
Properties Pending Sale .......................................
3
6
100.0%
Properties For Sale ................................................
18
11
-38.9%
Days on Market (Pending Sale) ...........................
40
34
-15.0%
Month’s Supply of Inventory ................................
9.0
11.0
22.2%
Percent Under Contract ........................................
16.7%
54.5%
227.3%
Average Median Price for Last 12 Months ........
$1,073,364
$554,667
-48.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$450
S A L E S
$658
(in hundred thousands)
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$554,667
PROPERTIES FOR SALE
11
DAYS ON MARKET**
84
SHADOW INVENTORY
3
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Sherman Oaks DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$632,000
$699,000
10.6%
Average Price per Square Foot ...........................
$340
$358
5.3%
Properties Sold .......................................................
48
49
2.1%
Properties Pending Sale .......................................
43
76
76.7%
Properties For Sale ................................................
223
136
-39.0%
Days on Market (Pending Sale) ...........................
57
74
29.8%
Month’s Supply of Inventory ................................
4.6
2.8
-40.3%
Percent Under Contract ........................................
19.3%
55.9%
189.8%
Average Median Price for Last 12 Months ........
$704,923
$655,846
-7.0%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$699
M E D I A N
S A L E S
(in hundred thousands)
$632
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$655,846
PROPERTIES FOR SALE
136
DAYS ON MARKET**
69
SHADOW INVENTORY
123
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Studio City DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$790,000
$905,000
14.6%
Average Price per Square Foot ...........................
$406
$419
3.2%
Properties Sold .......................................................
20
27
35.0%
Properties Pending Sale .......................................
31
32
3.2%
Properties For Sale ................................................
127
79
-37.8%
Days on Market (Pending Sale) ...........................
76
94
23.7%
Month’s Supply of Inventory ................................
6.4
2.9
-53.9%
Percent Under Contract ........................................
24.4%
40.5%
65.9%
Average Median Price for Last 12 Months ........
$830,615
$801,000
-3.6%
Average Median Price for Last 3 Months .......... *Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$905
M E D I A N
S A L E S
(in hundred thousands)
$790
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$801,000
PROPERTIES FOR SALE
79
DAYS ON MARKET**
71
SHADOW INVENTORY
60
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Sun Valley DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$250,000
$258,000
3.2%
Average Price per Square Foot ...........................
$184
$181
-1.6%
Properties Sold .......................................................
10
24
140.0%
Properties Pending Sale .......................................
19
26
36.8%
Properties For Sale ................................................
123
40
-67.5%
Days on Market (Pending Sale) ...........................
120
85
-29.2%
Month’s Supply of Inventory ................................
12.3
1.7
-86.4%
Percent Under Contract ........................................
15.4%
65.0%
320.8%
Average Median Price for Last 12 Months ........
$276,154
$259,538
-6.0%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$258
M E D I A N
S A L E S
(in hundred thousands)
$250
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$259,538
PROPERTIES FOR SALE
40
DAYS ON MARKET**
79
SHADOW INVENTORY
178
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Sunland - Tujunga DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$360,000
$327,000
-9.2%
Average Price per Square Foot ...........................
$221
$239
8.1%
Properties Sold .......................................................
26
37
42.3%
Properties Pending Sale .......................................
39
50
28.2%
Properties For Sale ................................................
199
88
-55.8%
Days on Market (Pending Sale) ...........................
88
51
-42.0%
Month’s Supply of Inventory ................................
7.7
2.4
-68.9%
Percent Under Contract ........................................
19.6%
56.8%
189.9%
Average Median Price for Last 12 Months ........
$354,615
$317,077
-10.6%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
$327
(in hundred thousands)
$360
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$317,077
PROPERTIES FOR SALE
88
DAYS ON MARKET**
82
SHADOW INVENTORY
275
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Toluca Lake DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$781,000
$670,000
-14.2%
Average Price per Square Foot ...........................
$438
$402
-8.2%
Properties Sold .......................................................
8
5
-37.5%
Properties Pending Sale .......................................
6
10
66.7%
Properties For Sale ................................................
44
31
-29.5%
Days on Market (Pending Sale) ...........................
32
50
56.3%
Month’s Supply of Inventory ................................
5.5
6.2
12.7%
Percent Under Contract ........................................
13.6%
32.3%
136.6%
Average Median Price for Last 12 Months ........
$862,692
$714,750
-17.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$670
S A L E S
$781
(in hundred thousands)
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$714,750
PROPERTIES FOR SALE
31
DAYS ON MARKET**
82
SHADOW INVENTORY
10
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Valley Vil age DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$586,000
$486,000
-17.1%
Average Price per Square Foot ...........................
$339
$299
-11.8%
Properties Sold .......................................................
15
8
-46.7%
Properties Pending Sale .......................................
14
14
0.0%
Properties For Sale ................................................
45
39
-13.3%
Days on Market (Pending Sale) ...........................
77
54
-29.9%
Month’s Supply of Inventory ................................
3.0
4.9
62.5%
Percent Under Contract ........................................
31.1%
35.9%
15.4%
Average Median Price for Last 12 Months ........
$605,846
$528,538
-12.8%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
$486
(in hundred thousands)
$586
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$528,538
PROPERTIES FOR SALE
39
DAYS ON MARKET**
55
SHADOW INVENTORY
22
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
Woodland Hil s DATA
APR 2011
APR 2012
% CHANGE
Median Price ..........................................................
$507,000
$539,000
6.3%
Average Price per Square Foot ...........................
$250
$239
-4.4%
Properties Sold .......................................................
50
52
4.0%
Properties Pending Sale .......................................
72
79
9.7%
Properties For Sale ................................................
241
130
-46.1%
Days on Market (Pending Sale) ...........................
79
84
6.3%
Month’s Supply of Inventory ................................
4.8
2.5
-48.1%
Percent Under Contract ........................................
29.9%
60.8%
103.4%
Average Median Price for Last 12 Months ........
$507,000
$514,846
1.5%
Average Median Price for Last 3 Months .......... *Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$539
M E D I A N
S A L E S
(in hundred thousands)
$507
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2012
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$514,846
PROPERTIES FOR SALE
130
DAYS ON MARKET**
73
SHADOW INVENTORY
337
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
April 2012 : Micro Market Report
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References
CONTACTS:
Laron Turley Director of Research, Teles Intelligence laron.turley@telesproperties.com Steve Shull Chief Strategist, Teles Intelligence steve.shull@telesproperties.com Sharran Srivatsaa Chief Executive Officer, Teles Intelligence sharran.srivatsaa@telesproperties.com
location:
Teles Intelligence 11990 San Vicente Blvd, Suite 100 Los Angeles, Ca 90049
Phone:
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info@telesintelligence.com
Teles intelligence april 2012 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.