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.