South Bay Micro Market Report: August 2012

Page 1

Teles intelligence

micro market report south bay AUGUST 2012 | SINGLE FAMILY HOMES REPORT



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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.


los ang

south bay

san fern

South Bay Macro Market

Palos Verdes

Redondo Beach

Manhattan Beach

Rancho Palos Verdes

Rolling Hills

Micro Market Report : August 2012


telesintelligence.com

geles

orange county

nando

san gabriel Rolling Hills Estates

Torrance

San Pedro

August 2012 : Micro Market Report


South Bay Macro Market DATA *

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$907,012

$933,375

2.9%

Average Price per Square Foot ...........................

$430

$389

-9.4%

Properties Sold .......................................................

155

204

31.6%

Properties Pending Sale .......................................

157

196

24.8%

Properties For Sale ................................................

1075

644

-40.1%

Days on Market (Pending Sale) ...........................

78

46

-41.1%

Month’s Supply of Inventory ................................

6.9

3.2

-54.5%

Percent Under Contract ........................................

14.6%

30.4%

108.4%

Average Median Price for Last 12 Months ........

$1,173,625

$1,194,453

1.8%

*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.

M E D I A N

S A L E S

$933

$907

(in hundred thousands)

P R I C E

yearly trend

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com


Manhattan Beach DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$1,489,750

$1,550,000

4.0%

Average Price per Square Foot ...........................

$696

$639

-8.2%

Properties Sold .......................................................

28

38

35.7%

Properties Pending Sale .......................................

24

27

12.5%

Properties For Sale ................................................

155

95

-38.7%

Days on Market (Pending Sale) ...........................

73

51

-30.1%

Month’s Supply of Inventory ................................

5.5

2.5

-54.8%

Percent Under Contract ........................................

15.5%

28.4%

83.6%

Average Median Price for Last 12 Months ........

$1,463,000

$1,527,365

4.4%

*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.

$1.550

M E D I A N

S A L E S

(in hundred thousands)

$1.490

P R I C E

yearly trend

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com

the numbers median sales price**

$1,527,365

PROPERTIES FOR SALE

95

DAYS ON MARKET**

72

SHADOW INVENTORY

28

**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

August 2012 : Micro Market Report


Palos Verdes DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$1,120,862

$1,860,000

65.9%

Average Price per Square Foot ...........................

$505

$544

7.7%

Properties Sold .......................................................

18

15

-16.7%

Properties Pending Sale .......................................

13

9

-30.8%

Properties For Sale ................................................

107

55

-48.6%

Days on Market (Pending Sale) ...........................

85

59

-30.6%

Month’s Supply of Inventory ................................

5.9

3.7

-38.3%

Percent Under Contract ........................................

12.1%

16.4%

34.7%

Average Median Price for Last 12 Months ........

$1,485,000

$1,384,720

-6.8%

*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.

S A L E S

(in hundred thousands)

$1.860

P R I C E

yearly trend

M E D I A N

$1.121

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com

the numbers median sales price**

$1,384,720

PROPERTIES FOR SALE

55

DAYS ON MARKET**

101

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

August 2012 : Micro Market Report


Rancho Palos Verdes DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$990,000

$1,067,500

7.8%

Average Price per Square Foot ...........................

$439

$409

-6.8%

Properties Sold .......................................................

29

32

10.3%

Properties Pending Sale .......................................

33

32

-3.0%

Properties For Sale ................................................

202

131

-35.1%

Days on Market (Pending Sale) ...........................

150

81

-46.0%

Month’s Supply of Inventory ................................

7.0

4.1

-41.2%

Percent Under Contract ........................................

16.3%

24.4%

49.5%

Average Median Price for Last 12 Months ........

$942,000

$956,192

1.5%

*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.

$1.068

M E D I A N

S A L E S

(in hundred thousands)

$990

P R I C E

yearly trend

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com

the numbers median sales price**

$956,192

PROPERTIES FOR SALE

131

DAYS ON MARKET**

105

SHADOW INVENTORY

89

**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

August 2012 : Micro Market Report


Redondo Beach DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$702,500

$705,000

0.4%

Average Price per Square Foot ...........................

$403

$411

2.0%

Properties Sold .......................................................

20

23

15.0%

Properties Pending Sale .......................................

24

38

58.3%

Properties For Sale ................................................

139

93

-33.1%

Days on Market (Pending Sale) ...........................

122

45

-63.1%

Month’s Supply of Inventory ................................

7.0

4.0

-41.8%

Percent Under Contract ........................................

17.3%

40.9%

136.6%

Average Median Price for Last 12 Months ........

$714,000

$721,766

1.1%

*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

S A L E S

(in hundred thousands)

$705

$703

P R I C E

yearly trend

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com

the numbers median sales price**

$721,766

PROPERTIES FOR SALE

93

DAYS ON MARKET**

75

SHADOW INVENTORY

77

**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

August 2012 : Micro Market Report


Rolling Hil s DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$1,575,000

$0

-100.0%

Average Price per Square Foot ...........................

$735

$0

-100.0%

Properties Sold .......................................................

3

0

-100.0%

Properties Pending Sale .......................................

3

1

-66.7%

Properties For Sale ................................................

29

20

-31.0%

Days on Market (Pending Sale) ...........................

79

29

-63.3%

Month’s Supply of Inventory ................................

9.7

N/A

N/A

Percent Under Contract ........................................

10.3%

5.0%

-51.7%

Average Median Price for Last 12 Months ........

$2,605,000

$2,904,000

11.5%

*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.

$1.575

AUG

$0 SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

M E D I A N

S A L E S

(in hundred thousands)

P R I C E

yearly trend


telesintelligence.com

the numbers median sales price**

$2,904,000

PROPERTIES FOR SALE

20

DAYS ON MARKET**

110

SHADOW INVENTORY

24

**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

August 2012 : Micro Market Report


Rolling Hil s Estates DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$1,350,000

$1,275,000

-5.6%

Average Price per Square Foot ...........................

$454

$464

2.2%

Properties Sold .......................................................

5

8

60.0%

Properties Pending Sale .......................................

4

9

125.0%

Properties For Sale ................................................

49

34

-30.6%

Days on Market (Pending Sale) ...........................

53

48

-9.4%

Month’s Supply of Inventory ................................

9.8

4.3

-56.6%

Percent Under Contract ........................................

8.2%

26.5%

224.3%

Average Median Price for Last 12 Months ........

$1,169,000

$1,117,542

-4.4%

*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

$1.275

S A L E S

$1.350

(in hundred thousands)

P R I C E

yearly trend

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com

the numbers median sales price**

$1,117,542

PROPERTIES FOR SALE

34

DAYS ON MARKET**

81

SHADOW INVENTORY

11

**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

August 2012 : Micro Market Report


San Pedro DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$350,000

$467,000

33.4%

Average Price per Square Foot ...........................

$286

$317

10.8%

Properties Sold .......................................................

19

46

142.1%

Properties Pending Sale .......................................

22

35

59.1%

Properties For Sale ................................................

180

100

-44.4%

Days on Market (Pending Sale) ...........................

74

56

-24.3%

Month’s Supply of Inventory ................................

9.5

2.2

-77.1%

Percent Under Contract ........................................

12.2%

35.0%

186.4%

Average Median Price for Last 12 Months ........

$448,000

$409,419

-8.6%

*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.

$467

M E D I A N

S A L E S

(in hundred thousands)

$350

P R I C E

yearly trend

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com

the numbers median sales price**

$409,419

PROPERTIES FOR SALE

100

DAYS ON MARKET**

88

SHADOW INVENTORY

154

**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

August 2012 : Micro Market Report


Torrance DATA

AUG 2011

AUG 2012

% CHANGE

Median Price ..........................................................

$585,000

$542,500

-7.3%

Average Price per Square Foot ...........................

$348

$331

-4.9%

Properties Sold .......................................................

33

42

27.3%

Properties Pending Sale .......................................

34

45

32.4%

Properties For Sale ................................................

214

116

-45.8%

Days on Market (Pending Sale) ...........................

65

44

-32.3%

Month’s Supply of Inventory ................................

6.5

2.8

-57.4%

Percent Under Contract ........................................

15.9%

38.8%

144.2%

$563,000

$534,615

-5.0%

Average Median Price for Last 12 Months ........

*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

$543

(in hundred thousands)

$585

P R I C E

yearly trend

AUG

SEP

OCT

NOV

Micro Market Report : August 2012

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG


telesintelligence.com

the numbers median sales price**

$534,615

PROPERTIES FOR SALE

116

DAYS ON MARKET**

65

SHADOW INVENTORY

268

**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

August 2012 : Micro Market Report



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References

CONTACTS:

Zachariah Kahn Research & Data Designer, Teles Intelligence zach@telesintelligence.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 AUGUST 2012 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.


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