Teles intelligence
micro market report condominiums APRIL 2013 | SELECT AREAS
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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.
condos
south b
orange
Beverly Center - Miracle Mile
Culver City
Santa Monica
Beverly Hills
Encino
Sherman Oaks
Brentwood
Marina Del Rey
Studio City
Micro Market Report : April 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Venice
Westwood - Century City
West Hollywood West LA
April 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$501,400
$488,550
-2.6%
Average Price per Square Foot ...........................
$478
$452
-5.4%
Properties Sold .......................................................
2
4
100.0%
Properties Pending Sale .......................................
6
5
-16.7%
Properties For Sale ................................................
29
17
-41.4%
Days on Market (Pending Sale) ...........................
53
42
-20.8%
Month’s Supply of Inventory ................................
14.5
4.3
-70.7%
Percent Under Contract ........................................
20.7%
29.4%
42.2%
Average Median Price for Last 12 Months ........
$468,000
$523,035
11.8%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$489
S A L E S
$501
(in hundred thousands)
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$523,035 DAYS ON MARKET**
40 PROPERTIES FOR SALE
17 shadow inventory
6 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Beverly Hills DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$1,055,000
$905,000
-14.2%
Average Price per Square Foot ...........................
$1,217
$512
-57.9%
Properties Sold .......................................................
5
11
120.0%
Properties Pending Sale .......................................
12
12
0.0%
Properties For Sale ................................................
84
42
-50.0%
Days on Market (Pending Sale) ...........................
68
80
17.6%
Month’s Supply of Inventory ................................
16.8
3.8
-77.3%
Percent Under Contract ........................................
14.3%
28.6%
100.0%
Average Median Price for Last 12 Months ........
$932,000
$891,545
-4.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
$1.06
M E D I A N
S A L E S
(in hundred thousands)
$905
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$891,545 DAYS ON MARKET**
94 PROPERTIES FOR SALE
42 shadow inventory
15 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Brentwood DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$530,000
$670,625
26.5%
Average Price per Square Foot ...........................
$381
$517
35.7%
Properties Sold .......................................................
15
22
46.7%
Properties Pending Sale .......................................
12
25
108.3%
Properties For Sale ................................................
81
81
0.0%
Days on Market (Pending Sale) ...........................
56
48
-14.3%
Month’s Supply of Inventory ................................
5.4
3.7
-31.8%
Percent Under Contract ........................................
14.8%
30.9%
108.3%
Average Median Price for Last 12 Months ........
$618,000
$663,225
7.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
S A L E S
(in hundred thousands)
$671
P R I C E
yearly trend
M E D I A N
$530
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$663,225 DAYS ON MARKET**
94 PROPERTIES FOR SALE
42 shadow inventory
15 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Culver City DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$270,000
$335,000
24.1%
Average Price per Square Foot ...........................
$250
$328
31.2%
Properties Sold .......................................................
11
13
18.2%
Properties Pending Sale .......................................
19
18
-5.3%
Properties For Sale ................................................
51
30
-41.2%
Days on Market (Pending Sale) ...........................
31
18
-41.9%
Month’s Supply of Inventory ................................
4.6
2.3
-50.2%
Percent Under Contract ........................................
37.3%
60.0%
61.1%
Average Median Price for Last 12 Months ........
$281,000
$319,838
13.8%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
S A L E S
(in hundred thousands)
$335
P R I C E
yearly trend
M E D I A N
$270
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$319,838 DAYS ON MARKET**
53 PROPERTIES FOR SALE
30 shadow inventory
40 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Encino DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$180,000
$230,000
27.8%
Average Price per Square Foot ...........................
$176
$207
17.6%
Properties Sold .......................................................
15
21
40.0%
Properties Pending Sale .......................................
10
25
150.0%
Properties For Sale ................................................
28
13
-53.6%
Days on Market (Pending Sale) ...........................
78
66
-15.4%
Month’s Supply of Inventory ................................
1.9
0.6
-66.8%
Percent Under Contract ........................................
35.7%
192.3%
438.5%
Average Median Price for Last 12 Months ........
$196,615
$223,308
13.6%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
S A L E S
(in hundred thousands)
$230
P R I C E
yearly trend
M E D I A N
$180
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$223,308 DAYS ON MARKET**
65 PROPERTIES FOR SALE
13 shadow inventory
36 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Marina Del Rey DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$605,000
$720,500
19.1%
Average Price per Square Foot ...........................
$384
$506
31.8%
Properties Sold .......................................................
19
22
15.8%
Properties Pending Sale .......................................
29
27
-6.9%
Properties For Sale ................................................
175
127
-27.4%
Days on Market (Pending Sale) ...........................
96
45
-53.1%
Month’s Supply of Inventory ................................
9.2
5.8
-37.3%
Percent Under Contract ........................................
16.6%
21.3%
28.3%
Average Median Price for Last 12 Months ........
$565,000
$614,346
8.7%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
$721
M E D I A N
S A L E S
(in hundred thousands)
$605
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$614,346 DAYS ON MARKET**
73 PROPERTIES FOR SALE
127 shadow inventory
13 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Santa Monica DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$657,500
$685,000
4.2%
Average Price per Square Foot ...........................
$581
$644
10.8%
Properties Sold .......................................................
36
34
-5.6%
Properties Pending Sale .......................................
37
32
-13.5%
Properties For Sale ................................................
159
79
-50.3%
Days on Market (Pending Sale) ...........................
62
50
-19.4%
Month’s Supply of Inventory ................................
4.4
2.3
-47.4%
Percent Under Contract ........................................
23.3%
40.5%
74.1%
Average Median Price for Last 12 Months ........
$695,000
$713,669
2.7%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
(in hundred thousands)
$685
$658
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$713,669 DAYS ON MARKET**
66 PROPERTIES FOR SALE
79 shadow inventory
23 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Sherman Oaks DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$275,000
$330,000
20.0%
Average Price per Square Foot ...........................
$221
$260
17.6%
Properties Sold .......................................................
20
13
-35.0%
Properties Pending Sale .......................................
22
25
13.6%
Properties For Sale ................................................
33
21
-36.4%
Days on Market (Pending Sale) ...........................
121
42
-65.3%
Month’s Supply of Inventory ................................
1.7
1.6
-2.1%
Percent Under Contract ........................................
66.7%
119.0%
78.6%
Average Median Price for Last 12 Months ........
$303,154
$302,077
-0.4%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
$330
M E D I A N
S A L E S
(in hundred thousands)
$275
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$302,077 DAYS ON MARKET**
77 PROPERTIES FOR SALE
21 shadow inventory
32 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Studio City DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$378,000
$400,000
5.8%
Average Price per Square Foot ...........................
$269
$281
4.5%
Properties Sold .......................................................
9
5
-44.4%
Properties Pending Sale .......................................
10
19
90.0%
Properties For Sale ................................................
17
21
23.5%
Days on Market (Pending Sale) ...........................
148
24
-83.8%
Month’s Supply of Inventory ................................
1.9
4.2
122.4%
Percent Under Contract ........................................
58.8%
90.5%
53.8%
Average Median Price for Last 12 Months ........
$411,077
$409,692
-0.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
(in hundred thousands)
$400
$378
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$409,692 DAYS ON MARKET**
91 PROPERTIES FOR SALE
17 shadow inventory
3 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Venice DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$1,000,000
$957,500
-4.3%
Average Price per Square Foot ...........................
$496
$597
20.4%
Properties Sold .......................................................
3
2
-33.3%
Properties Pending Sale .......................................
2
9
350.0%
Properties For Sale ................................................
26
17
-34.6%
Days on Market (Pending Sale) ...........................
98
22
-77.6%
Month’s Supply of Inventory ................................
8.7
8.5
-1.9%
Percent Under Contract ........................................
7.7%
52.9%
588.2%
Average Median Price for Last 12 Months ........
$891,000
$965,185
8.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$958
S A L E S
$1.00
(in hundred thousands)
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$965,185 DAYS ON MARKET**
86 PROPERTIES FOR SALE
17 shadow inventory
3 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
West Hollywood DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$410,000
$515,000
25.6%
Average Price per Square Foot ...........................
$392
$479
22.2%
Properties Sold .......................................................
21
27
28.6%
Properties Pending Sale .......................................
33
31
-6.1%
Properties For Sale ................................................
170
98
-42.4%
Days on Market (Pending Sale) ...........................
75
57
-24.0%
Month’s Supply of Inventory ................................
8.1
3.6
-55.2%
Percent Under Contract ........................................
19.4%
31.6%
63.0%
Average Median Price for Last 12 Months ........
$451,000
$469,439
4.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
(in hundred thousands)
$515
P R I C E
yearly trend
M E D I A N
S A L E S
$410
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$469,439 DAYS ON MARKET**
62 PROPERTIES FOR SALE
98 shadow inventory
38 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
West LA DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$412,500
$640,000
55.2%
Average Price per Square Foot ...........................
$319
$451
41.4%
Properties Sold .......................................................
8
21
162.5%
Properties Pending Sale .......................................
11
19
72.7%
Properties For Sale ................................................
76
43
-43.4%
Days on Market (Pending Sale) ...........................
41
16
-61.0%
Month’s Supply of Inventory ................................
9.5
2.0
-78.4%
Percent Under Contract ........................................
14.5%
44.2%
205.3%
Average Median Price for Last 12 Months ........
$501,000
$564,410
12.7%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
S A L E S
(in hundred thousands)
$640
P R I C E
yearly trend
M E D I A N
$413
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$564,410 DAYS ON MARKET**
60 PROPERTIES FOR SALE
43 shadow inventory
21 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
Westwood - Century City DATA*
APR 2012
APR 2013
% CHANGE
Median Price ..........................................................
$589,000
$677,500
15.0%
Average Price per Square Foot ...........................
$447
$465
4.0%
Properties Sold .......................................................
36
48
33.3%
Properties Pending Sale .......................................
39
48
23.1%
Properties For Sale ................................................
315
241
-23.5%
Days on Market (Pending Sale) ...........................
72
64
-11.1%
Month’s Supply of Inventory ................................
8.8
5.0
-42.6%
Percent Under Contract ........................................
12.4%
19.9%
60.9%
Average Median Price for Last 12 Months ........
$585,000
$622,808
6.5%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
$678
M E D I A N
S A L E S
(in hundred thousands)
$589
P R I C E
yearly trend
APR
MAY
JUN
JUL
Micro Market Report : April 2013
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
telesintelligence.com
the numbers median sales price**
$622,808 DAYS ON MARKET**
87 PROPERTIES FOR SALE
241 shadow inventory
32 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
April 2013 : Micro Market Report
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References
CONTACTS:
Aleksey Tokhner Project Manager, Teles Intelligence aleksey.tokhner@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:
424.203.1800 email:
info@telesintelligence.com
Teles intelligence APRIL 2013 | CONDOMINIUMS IN SELECT AREAS
Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.