Teles intelligence
micro market report condominiums August 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
Marina Del Rey
Beverly Hills
Encino
Santa Monica
Brentwood
Malibu
Sherman Oaks
Micro Market Report : August 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Studio City
West LA
Venice
Westwood - Century City
West Hollywood
August 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$514,000
$809,500
57.5%
Average Price per Square Foot ...........................
$420
$455
8.3%
Properties Sold .......................................................
10
4
-60.0%
Properties Pending Sale .......................................
5
19
280.0%
Properties For Sale ................................................
30
49
63.3%
Days on Market (Pending Sale) ...........................
40
19
-52.5%
Month’s Supply of Inventory ................................
3
12.2
308.3%
Percent Under Contract ........................................
16.7%
38.8%
132.7%
Average Median Price for Last 12 Months ........
$482,000
$560,042
16.2%
*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)
$809
P R I C E
yearly trend
M E D I A N
$514
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$560,042
PROPERTIES FOR SALE
49
DAYS ON MARKET**
36
shadow inventory
4
(4.0)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Beverly Hills DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$875,000
$747,500
-14.6%
Average Price per Square Foot ...........................
$886
$504
-43.1%
Properties Sold .......................................................
13
8
-38.5%
Properties Pending Sale .......................................
11
5
-54.5%
Properties For Sale ................................................
66
44
-33.3%
Days on Market (Pending Sale) ...........................
123
38
-69.1%
Month’s Supply of Inventory ................................
5.1
5.5
8.3%
Percent Under Contract ........................................
16.7%
11.4%
-31.8%
Average Median Price for Last 12 Months ........
$936,000
$847,584
-9.4%
*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.
M E D I A N
S A L E S
$747
(in hundred thousands)
$875
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$847,584
PROPERTIES FOR SALE
44
DAYS ON MARKET**
80
shadow inventory
10
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Brentwood DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$665,000
$696,000
4.7%
Average Price per Square Foot ...........................
$454
$514
13.2%
Properties Sold .......................................................
17
20
17.6%
Properties Pending Sale .......................................
14
23
64.3%
Properties For Sale ................................................
69
81
17.4%
Days on Market (Pending Sale) ...........................
88
38
-56.8%
Month’s Supply of Inventory ................................
4.1
4
-0.2%
Percent Under Contract ........................................
20.3%
28.4%
39.9%
Average Median Price for Last 12 Months ........
$599,000
$687,856
14.8%
*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.
$696
M E D I A N
S A L E S
(in hundred thousands)
$665
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$687,856
PROPERTIES FOR SALE
81
DAYS ON MARKET**
57
shadow inventory
1
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Culver City DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$305,000
$409,000
34.1%
Average Price per Square Foot ...........................
$318
$361
13.5%
Properties Sold .......................................................
7
21
200.0%
Properties Pending Sale .......................................
13
25
92.3%
Properties For Sale ................................................
41
39
-4.9%
Days on Market (Pending Sale) ...........................
55
28
-49.1%
Month’s Supply of Inventory ................................
5.9
1.9
-68.3%
Percent Under Contract ........................................
31.7%
64.1%
102.2%
Average Median Price for Last 12 Months ........
$274,000
$359,728
31.3%
*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.
(in hundred thousands)
$409
P R I C E
yearly trend
M E D I A N
S A L E S
$305
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$359,728
PROPERTIES FOR SALE
39
DAYS ON MARKET**
40
shadow inventory
23
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Encino DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$197,000
$320,000
62.4%
Average Price per Square Foot ...........................
$204
$247
21.1%
Properties Sold .......................................................
14
15
7.1%
Properties Pending Sale .......................................
10
15
50.0%
Properties For Sale ................................................
21
25
19.0%
Days on Market (Pending Sale) ...........................
41
48
17.1%
Month’s Supply of Inventory ................................
1.5
1.7
11.1%
Percent Under Contract ........................................
47.6%
60.0%
26.0%
Average Median Price for Last 12 Months ........
$200,231
$245,154
22.4%
*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.
S A L E S
(in hundred thousands)
$320
P R I C E
yearly trend
M E D I A N
$197
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$245,154
PROPERTIES FOR SALE
25
DAYS ON MARKET**
53
shadow inventory
33
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Malibu DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$749,000
$847,500
13.2%
Average Price per Square Foot ...........................
$506
$460
-9.1%
Properties Sold .......................................................
3
4
33.3%
Properties Pending Sale .......................................
3
1
-66.7%
Properties For Sale ................................................
35
25
-28.6%
Days on Market (Pending Sale) ...........................
46
38
-17.4%
Month’s Supply of Inventory ................................
11.7
6.2
-46.4%
Percent Under Contract ........................................
8.6%
4.0%
-53.3%
Average Median Price for Last 12 Months ........
$577,000
$662,154
14.8%
*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.
$847
M E D I A N
S A L E S
(in hundred thousands)
$749
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$662,154
PROPERTIES FOR SALE
25
DAYS ON MARKET**
112
shadow inventory
7
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Marina Del Rey DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$625,000
$683,000
9.3%
Average Price per Square Foot ...........................
$434
$553
27.4%
Properties Sold .......................................................
23
29
26.1%
Properties Pending Sale .......................................
25
25
0.0%
Properties For Sale ................................................
144
138
-4.2%
Days on Market (Pending Sale) ...........................
112
96
-14.3%
Month’s Supply of Inventory ................................
6.3
4.8
-24.0%
Percent Under Contract ........................................
17.4%
18.1%
4.3%
Average Median Price for Last 12 Months ........
$565,000
$671,338
18.8%
*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
S A L E S
(in hundred thousands)
$683
$625
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$671,338
PROPERTIES FOR SALE
138
DAYS ON MARKET**
72
shadow inventory
10
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Santa Monica DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$720,000
$850,000
18.1%
Average Price per Square Foot ...........................
$578
$676
17.0%
Properties Sold .......................................................
51
40
-21.6%
Properties Pending Sale .......................................
40
39
-2.5%
Properties For Sale ................................................
146
106
-27.4%
Days on Market (Pending Sale) ...........................
54
39
-27.8%
Month’s Supply of Inventory ................................
2.9
2.6
-7.4%
Percent Under Contract ........................................
27.4%
36.8%
34.3%
Average Median Price for Last 12 Months ........
$717,000
$734,034
2.4%
*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.
$850
M E D I A N
S A L E S
(in hundred thousands)
$720
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$734,034
PROPERTIES FOR SALE
106
DAYS ON MARKET**
57
shadow inventory
20
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Sherman Oaks DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$302,000
$360,000
19.2%
Average Price per Square Foot ...........................
$241
$305
26.6%
Properties Sold .......................................................
24
33
37.5%
Properties Pending Sale .......................................
23
31
34.8%
Properties For Sale ................................................
21
27
28.6%
Days on Market (Pending Sale) ...........................
98
47
-52.0%
Month’s Supply of Inventory ................................
0.9
0.8
-6.5%
Percent Under Contract ........................................
109.5%
114.8%
4.8%
Average Median Price for Last 12 Months ........
$290,923
$327,769
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.
$360
M E D I A N
S A L E S
(in hundred thousands)
$302
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$327,769
PROPERTIES FOR SALE
27
DAYS ON MARKET**
66
shadow inventory
40
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Studio City DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$389,000
$435,000
11.8%
Average Price per Square Foot ...........................
$307
$345
12.4%
Properties Sold .......................................................
9
7
-22.2%
Properties Pending Sale .......................................
10
14
40.0%
Properties For Sale ................................................
12
17
41.7%
Days on Market (Pending Sale) ...........................
147
26
-82.3%
Month’s Supply of Inventory ................................
1.3
2.4
82.1%
Percent Under Contract ........................................
83.3%
82.4%
-1.2%
Average Median Price for Last 12 Months ........
$404,538
$430,308
6.4%
*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.
$435
M E D I A N
S A L E S
(in hundred thousands)
$389
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$430,308
PROPERTIES FOR SALE
17
DAYS ON MARKET**
66
shadow inventory
17
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Venice DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$533,150
$1,340,000
151.3%
Average Price per Square Foot ...........................
$594
$578
-2.7%
Properties Sold .......................................................
2
3
50.0%
Properties Pending Sale .......................................
2
4
100.0%
Properties For Sale ................................................
19
20
5.3%
Days on Market (Pending Sale) ...........................
68
48
-29.4%
Month’s Supply of Inventory ................................
9.5
6.7
-29.8%
Percent Under Contract ........................................
10.5%
20.0%
90.0%
Average Median Price for Last 12 Months ........
$884,000
$1,026,973
16.2%
*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)
$1.340
P R I C E
yearly trend
Aug
M E D I A N
$533
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$1,026,973
PROPERTIES FOR SALE
20
DAYS ON MARKET**
70
shadow inventory
3
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
West Hollywood DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$520,000
$550,000
5.8%
Average Price per Square Foot ...........................
$435
$532
22.3%
Properties Sold .......................................................
25
33
32.0%
Properties Pending Sale .......................................
21
31
47.6%
Properties For Sale ................................................
116
128
10.3%
Days on Market (Pending Sale) ...........................
40
48
20.0%
Month’s Supply of Inventory ................................
4.6
3.9
-16.4%
Percent Under Contract ........................................
18.1%
24.2%
33.8%
Average Median Price for Last 12 Months ........
$423,000
$498,228
17.8%
*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.
$550
M E D I A N
S A L E S
(in hundred thousands)
$520
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$498,228
PROPERTIES FOR SALE
128
DAYS ON MARKET**
51
shadow inventory
28
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
West LA DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$580,496
$660,000
13.7%
Average Price per Square Foot ...........................
$381
$453
18.9%
Properties Sold .......................................................
9
19
111.1%
Properties Pending Sale .......................................
10
13
30.0%
Properties For Sale ................................................
63
50
-20.6%
Days on Market (Pending Sale) ...........................
52
37
-28.8%
Month’s Supply of Inventory ................................
7
2.6
-62.4%
Percent Under Contract ........................................
15.9%
26.0%
63.8%
Average Median Price for Last 12 Months ........
$497,000
$627,384
26.2%
*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.
$660
M E D I A N
S A L E S
(in hundred thousands)
$580
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$627,384
PROPERTIES FOR SALE
50
DAYS ON MARKET**
51
shadow inventory
22
(22.0)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 2013 : Micro Market Report
Westwood - Century City DATA*
Aug 2012
Aug 2013
% CHANGE
Median Price ..........................................................
$700,000
$680,000
-2.9%
Average Price per Square Foot ...........................
$523
$603
15.3%
Properties Sold .......................................................
51
58
13.7%
Properties Pending Sale .......................................
45
62
37.8%
Properties For Sale ................................................
272
295
8.5%
Days on Market (Pending Sale) ...........................
108
69
-36.1%
Month’s Supply of Inventory ................................
5.3
5.1
-4.6%
Percent Under Contract ........................................
16.5%
21.0%
27.0%
Average Median Price for Last 12 Months ........
$587,000
$651,688
11.0%
*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.
$700
M E D I A N
S A L E S
(in hundred thousands)
$680
P R I C E
yearly trend
Aug
Sep
Oct
Nov
Micro Market Report : August 2013
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
telesintelligence.com
the numbers median sales price**
$651,688
PROPERTIES FOR SALE
295
DAYS ON MARKET**
76
shadow inventory
36
(36.0)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
August 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 August 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.