Teles intelligence
micro market report condominiums December 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 : December 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Studio City
West LA
Venice
Westwood - Century City
West Hollywood
December 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$452,000
$825,000
82.5%
Average Price per Square Foot ...........................
$353
$522
47.9%
Properties Sold .......................................................
1
9
800.0%
Properties Pending Sale .......................................
7
3
-57.1%
Properties For Sale ................................................
24
22
-8.3%
Days on Market (Pending Sale) ...........................
60
80
33.3%
Month’s Supply of Inventory ................................
24
2.4
-89.8%
Percent Under Contract ........................................
29.2%
13.6%
-53.2%
Average Median Price for Last 12 Months ........
$525,000
$615,850
17.3%
*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)
$825
P R I C E
yearly trend
M E D I A N
$452
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$615,850
PROPERTIES FOR SALE
22
DAYS ON MARKET**
42
shadow inventory
6
(6.0)
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Beverly Hills DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$840,000
$912,500
8.6%
Average Price per Square Foot ...........................
$456
$552
21.1%
Properties Sold .......................................................
13
8
-38.5%
Properties Pending Sale .......................................
10
4
-60.0%
Properties For Sale ................................................
55
47
-14.5%
Days on Market (Pending Sale) ...........................
71
145
104.2%
Month’s Supply of Inventory ................................
4.2
5.9
38.9%
Percent Under Contract ........................................
18.2%
8.5%
-53.2%
Average Median Price for Last 12 Months ........
$901,000
$876,135
-2.8%
*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.
$912
M E D I A N
S A L E S
(in hundred thousands)
$840
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$876,135
PROPERTIES FOR SALE
47
DAYS ON MARKET**
73
shadow inventory
12
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Brentwood DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$771,250
$767,500
-0.5%
Average Price per Square Foot ...........................
$475
$511
7.6%
Properties Sold .......................................................
12
20
66.7%
Properties Pending Sale .......................................
11
10
-9.1%
Properties For Sale ................................................
65
59
-9.2%
Days on Market (Pending Sale) ...........................
91
58
-36.3%
Month’s Supply of Inventory ................................
5.4
3
-45.5%
Percent Under Contract ........................................
16.9%
16.9%
0.2%
Average Median Price for Last 12 Months ........
$632,000
$703,213
11.3%
*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.
$771
M E D I A N
S A L E S
(in hundred thousands)
$767
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$703,213
PROPERTIES FOR SALE
59
DAYS ON MARKET**
47
shadow inventory
0
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Culver City DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$296,000
$402,500
36.0%
Average Price per Square Foot ...........................
$307
$389
26.7%
Properties Sold .......................................................
10
8
-20.0%
Properties Pending Sale .......................................
9
10
11.1%
Properties For Sale ................................................
23
33
43.5%
Days on Market (Pending Sale) ...........................
62
35
-43.5%
Month’s Supply of Inventory ................................
2.3
4.1
79.3%
Percent Under Contract ........................................
39.1%
30.3%
-22.6%
Average Median Price for Last 12 Months ........
$289,000
$382,967
32.5%
*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.
S A L E S
(in hundred thousands)
$402
P R I C E
yearly trend
M E D I A N
$296
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$382,967
PROPERTIES FOR SALE
33
DAYS ON MARKET**
32
shadow inventory
29
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Encino DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$227,000
$303,000
33.5%
Average Price per Square Foot ...........................
$229
$248
8.3%
Properties Sold .......................................................
17
10
-41.2%
Properties Pending Sale .......................................
10
18
80.0%
Properties For Sale ................................................
18
31
72.2%
Days on Market (Pending Sale) ...........................
46
69
50.0%
Month’s Supply of Inventory ................................
1.1
3.1
192.8%
Percent Under Contract ........................................
55.6%
58.1%
4.5%
Average Median Price for Last 12 Months ........
$203,000
$275,385
35.7%
*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.
(in hundred thousands)
$303
P R I C E
yearly trend
M E D I A N
S A L E S
$227
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$275,385
PROPERTIES FOR SALE
31
DAYS ON MARKET**
53
shadow inventory
16
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Malibu DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$520,000
$753,500
44.9%
Average Price per Square Foot ...........................
$398
$554
39.2%
Properties Sold .......................................................
3
2
-33.3%
Properties Pending Sale .......................................
1
5
400.0%
Properties For Sale ................................................
30
21
-30.0%
Days on Market (Pending Sale) ...........................
146
54
-63.0%
Month’s Supply of Inventory ................................
10
10.5
5.0%
Percent Under Contract ........................................
3.3%
23.8%
614.3%
Average Median Price for Last 12 Months ........
$622,000
$692,000
11.3%
*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)
$753
P R I C E
yearly trend
M E D I A N
$520
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$692,000
PROPERTIES FOR SALE
21
DAYS ON MARKET**
107
shadow inventory
11
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Marina Del Rey DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$621,500
$672,500
8.2%
Average Price per Square Foot ...........................
$538
$476
-11.5%
Properties Sold .......................................................
18
34
88.9%
Properties Pending Sale .......................................
15
21
40.0%
Properties For Sale ................................................
108
132
22.2%
Days on Market (Pending Sale) ...........................
52
95
82.7%
Month’s Supply of Inventory ................................
6
3.9
-35.3%
Percent Under Contract ........................................
13.9%
15.9%
14.5%
Average Median Price for Last 12 Months ........
$578,000
$695,389
20.3%
*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)
$672
$621
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$695,389
PROPERTIES FOR SALE
132
DAYS ON MARKET**
69
shadow inventory
4
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Santa Monica DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$660,000
$780,000
18.2%
Average Price per Square Foot ...........................
$619
$639
3.2%
Properties Sold .......................................................
49
35
-28.6%
Properties Pending Sale .......................................
22
21
-4.5%
Properties For Sale ................................................
80
89
11.2%
Days on Market (Pending Sale) ...........................
82
54
-34.1%
Month’s Supply of Inventory ................................
1.6
2.5
55.8%
Percent Under Contract ........................................
27.5%
23.6%
-14.2%
Average Median Price for Last 12 Months ........
$725,000
$757,861
4.5%
*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.
$780
M E D I A N
S A L E S
(in hundred thousands)
$660
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$757,861
PROPERTIES FOR SALE
89
DAYS ON MARKET**
46
shadow inventory
27
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Sherman Oaks DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$300,000
$394,000
31.3%
Average Price per Square Foot ...........................
$235
$305
29.8%
Properties Sold .......................................................
16
18
12.5%
Properties Pending Sale .......................................
15
13
-13.3%
Properties For Sale ................................................
13
22
69.2%
Days on Market (Pending Sale) ...........................
67
66
-1.5%
Month’s Supply of Inventory ................................
0.8
1.2
50.4%
Percent Under Contract ........................................
115.4%
59.1%
-48.8%
Average Median Price for Last 12 Months ........
$290,308
$354,769
22.2%
*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.
(in hundred thousands)
$394
P R I C E
yearly trend
M E D I A N
S A L E S
$300
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$354,769
PROPERTIES FOR SALE
22
DAYS ON MARKET**
54
shadow inventory
26
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Studio City DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$417,000
$507,000
21.6%
Average Price per Square Foot ...........................
$317
$383
20.8%
Properties Sold .......................................................
8
10
25.0%
Properties Pending Sale .......................................
4
5
25.0%
Properties For Sale ................................................
7
22
214.3%
Days on Market (Pending Sale) ...........................
54
45
-16.7%
Month’s Supply of Inventory ................................
0.9
2.2
151.4%
Percent Under Contract ........................................
57.1%
22.7%
-60.2%
Average Median Price for Last 12 Months ........
$408,538
$448,385
9.8%
*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.
$507
M E D I A N
S A L E S
(in hundred thousands)
$417
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$448,385
PROPERTIES FOR SALE
22
DAYS ON MARKET**
52
shadow inventory
13
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Venice DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$980,000
$1,185,000
20.9%
Average Price per Square Foot ...........................
$593
$608
2.5%
Properties Sold .......................................................
4
3
-25.0%
Properties Pending Sale .......................................
3
0
-100.0%
Properties For Sale ................................................
11
8
-27.3%
Days on Market (Pending Sale) ...........................
68
0
-100.0%
Month’s Supply of Inventory ................................
2.8
2.7
-3.0%
Percent Under Contract ........................................
27.3%
0.0%
-100.0%
Average Median Price for Last 12 Months ........
$907,000
$1,115,462
23.0%
*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.
S A L E S
(in hundred thousands)
$1.185
P R I C E
yearly trend
M E D I A N
$980
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$1,115,462
PROPERTIES FOR SALE
8
DAYS ON MARKET**
69
shadow inventory
2
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
West Hollywood DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$595,000
$639,000
7.4%
Average Price per Square Foot ...........................
$456
$524
14.9%
Properties Sold .......................................................
29
35
20.7%
Properties Pending Sale .......................................
21
17
-19.0%
Properties For Sale ................................................
100
101
1.0%
Days on Market (Pending Sale) ...........................
67
46
-31.3%
Month’s Supply of Inventory ................................
3.4
2.9
-16.3%
Percent Under Contract ........................................
21.0%
16.8%
-19.8%
Average Median Price for Last 12 Months ........
$432,000
$554,981
28.5%
*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.
M E D I A N
S A L E S
(in hundred thousands)
$639
$595
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$554,981
PROPERTIES FOR SALE
101
DAYS ON MARKET**
48
shadow inventory
15
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
West LA DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$620,000
$762,250
22.9%
Average Price per Square Foot ...........................
$408
$457
12.0%
Properties Sold .......................................................
14
12
-14.3%
Properties Pending Sale .......................................
6
12
100.0%
Properties For Sale ................................................
28
41
46.4%
Days on Market (Pending Sale) ...........................
110
42
-61.8%
Month’s Supply of Inventory ................................
2
3.4
70.8%
Percent Under Contract ........................................
21.4%
29.3%
36.6%
Average Median Price for Last 12 Months ........
$540,000
$651,288
20.6%
*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.
$762
M E D I A N
S A L E S
(in hundred thousands)
$620
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$651,288
PROPERTIES FOR SALE
41
DAYS ON MARKET**
45
shadow inventory
18
(18.0)
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 2013 : Micro Market Report
Westwood - Century City DATA*
Dec 2012
Dec 2013
% CHANGE
Median Price ..........................................................
$633,000
$720,000
13.7%
Average Price per Square Foot ...........................
$483
$668
38.3%
Properties Sold .......................................................
40
36
-10.0%
Properties Pending Sale .......................................
30
26
-13.3%
Properties For Sale ................................................
195
245
25.6%
Days on Market (Pending Sale) ...........................
84
89
6.0%
Month’s Supply of Inventory ................................
4.9
6.8
39.6%
Percent Under Contract ........................................
15.4%
10.6%
-31.0%
Average Median Price for Last 12 Months ........
$597,000
$695,729
16.5%
*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.
M E D I A N
S A L E S
$633
(in hundred thousands)
$720
P R I C E
yearly trend
Dec
Jan
Feb
Mar
Micro Market Report : December 2013
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
telesintelligence.com
the numbers median sales price**
$695,729
PROPERTIES FOR SALE
245
DAYS ON MARKET**
67
shadow inventory
32
(32.0)
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
December 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 December 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.