TELES intelligence
micro market report south bay JULY 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 : July 2012
telesintelligence.com
geles
orange county
nando
san gabriel Rolling Hills Estates
Torrance
San Pedro
July 2012 : Micro Market Report
South Bay Macro Market DATA *
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$1,110,577
$1,216,000
9.5%
Average Price per Square Foot ...........................
$421
$444
5.3%
Properties Sold .......................................................
162
182
12.3%
Properties Pending Sale .......................................
145
211
45.5%
Properties For Sale ................................................
1125
688
-38.8%
Days on Market (Pending Sale) ...........................
69
53
-22.7%
Month’s Supply of Inventory ................................
6.9
3.8
-45.6%
Percent Under Contract ........................................
12.9%
30.7%
137.9%
Average Median Price for Last 12 Months ........
$1,152,500
$1,157,862
0.5%
*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
$1.216
$1.111
(in hundred thousands)
P R I C E
yearly trend
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
Manhattan Beach DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$1,435,000
$1,570,000
9.4%
Average Price per Square Foot ...........................
$669
$711
6.3%
Properties Sold .......................................................
34
28
-17.6%
Properties Pending Sale .......................................
24
35
45.8%
Properties For Sale ................................................
166
100
-39.8%
Days on Market (Pending Sale) ...........................
68
36
-47.1%
Month’s Supply of Inventory ................................
4.9
3.6
-26.9%
Percent Under Contract ........................................
14.5%
35.0%
142.1%
Average Median Price for Last 12 Months ........
$1,516,000
$1,517,962
0.1%
*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
$1.570
$1.435
(in hundred thousands)
P R I C E
yearly trend
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$1,517,962
PROPERTIES FOR SALE
100
DAYS ON MARKET**
65
SHADOW INVENTORY
28
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
Palos Verdes DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$1,945,000
$1,837,500
-5.5%
Average Price per Square Foot ...........................
$505
$569
12.7%
Properties Sold .......................................................
9
10
11.1%
Properties Pending Sale .......................................
15
15
0.0%
Properties For Sale ................................................
117
69
-41.0%
Days on Market (Pending Sale) ...........................
77
96
24.7%
Month’s Supply of Inventory ................................
13.0
6.9
-46.9%
Percent Under Contract ........................................
12.8%
21.7%
69.6%
Average Median Price for Last 12 Months ........
$992,000
$1,140,615
15.0%
*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
$1.838
(in hundred thousands)
$1.945
P R I C E
yearly trend
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$1,140,615
PROPERTIES FOR SALE
69
DAYS ON MARKET**
93
SHADOW INVENTORY
20
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
Rancho Palos Verdes DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$904,550
$882,500
-2.4%
Average Price per Square Foot ...........................
$433
$414
-4.4%
Properties Sold .......................................................
38
26
-31.6%
Properties Pending Sale .......................................
30
39
30.0%
Properties For Sale ................................................
204
146
-28.4%
Days on Market (Pending Sale) ...........................
97
71
-26.8%
Month’s Supply of Inventory ................................
5.4
5.6
4.6%
Percent Under Contract ........................................
14.7%
26.7%
81.6%
Average Median Price for Last 12 Months ........
$961,000
$938,273
-2.4%
*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
$883
S A L E S
$905
(in hundred thousands)
P R I C E
yearly trend
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$938,273
PROPERTIES FOR SALE
146
DAYS ON MARKET**
95
SHADOW INVENTORY
82
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
Redondo Beach DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$647,145
$820,000
26.7%
Average Price per Square Foot ...........................
$455
$426
-6.4%
Properties Sold .......................................................
23
32
39.1%
Properties Pending Sale .......................................
19
26
36.8%
Properties For Sale ................................................
139
88
-36.7%
Days on Market (Pending Sale) ...........................
89
38
-57.3%
Month’s Supply of Inventory ................................
6.0
2.8
-54.5%
Percent Under Contract ........................................
13.7%
29.5%
116.1%
Average Median Price for Last 12 Months ........
$726,000
$715,277
-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.
S A L E S
(in hundred thousands)
$820
P R I C E
yearly trend
M E D I A N
$647
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$715,277
PROPERTIES FOR SALE
88
DAYS ON MARKET**
71
SHADOW INVENTORY
78
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
Rolling Hil s DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$3,000,000
$3,850,000
28.3%
Average Price per Square Foot ...........................
$694
$829
19.5%
Properties Sold .......................................................
1
3
200.0%
Properties Pending Sale .......................................
0
4
N/A
Properties For Sale ................................................
23
23
0.0%
Days on Market (Pending Sale) ...........................
0
98
N/A
Month’s Supply of Inventory ................................
23.0
7.7
-66.7%
Percent Under Contract ........................................
0.0%
17.4%
N/A
Average Median Price for Last 12 Months ........
$2,794,000
$2,912,727
4.2%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
JUL
M E D I A N
$3.000
S A L E S
$3.850
(in hundred thousands)
P R I C E
yearly trend
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$2,912,727
PROPERTIES FOR SALE
23
DAYS ON MARKET**
130
SHADOW INVENTORY
23
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
Rolling Hil s Estates DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$1,105,000
$979,500
-11.4%
Average Price per Square Foot ...........................
$391
$398
1.8%
Properties Sold .......................................................
4
4
0.0%
Properties Pending Sale .......................................
5
5
0.0%
Properties For Sale ................................................
58
30
-48.3%
Days on Market (Pending Sale) ...........................
91
53
-41.8%
Month’s Supply of Inventory ................................
14.5
7.5
-48.3%
Percent Under Contract ........................................
8.6%
16.7%
93.3%
Average Median Price for Last 12 Months ........
$1,195,000
$1,096,581
-8.2%
*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
$980
S A L E S
$1.105
(in hundred thousands)
P R I C E
yearly trend
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$1,096,581
PROPERTIES FOR SALE
30
DAYS ON MARKET**
76
SHADOW INVENTORY
10
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
San Pedro DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$435,000
$435,000
0.0%
Average Price per Square Foot ...........................
$306
$300
-2.0%
Properties Sold .......................................................
21
27
28.6%
Properties Pending Sale .......................................
14
45
221.4%
Properties For Sale ................................................
180
124
-31.1%
Days on Market (Pending Sale) ...........................
128
49
-61.7%
Month’s Supply of Inventory ................................
8.6
4.6
-46.4%
Percent Under Contract ........................................
7.8%
36.3%
366.6%
Average Median Price for Last 12 Months ........
$458,000
$408,458
-10.8%
*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
$435
(in hundred thousands)
$435
P R I C E
yearly trend
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$408,458
PROPERTIES FOR SALE
124
DAYS ON MARKET**
85
SHADOW INVENTORY
151
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
Torrance DATA
JUL 2011
JUL 2012
% CHANGE
Median Price ..........................................................
$523,500
$569,500
8.8%
Average Price per Square Foot ...........................
$338
$346
2.4%
Properties Sold .......................................................
32
52
62.5%
Properties Pending Sale .......................................
38
42
10.5%
Properties For Sale ................................................
238
108
-54.6%
Days on Market (Pending Sale) ...........................
71
39
-45.1%
Month’s Supply of Inventory ................................
7.4
2.1
-72.1%
Percent Under Contract ........................................
16.0%
38.9%
143.6%
Average Median Price for Last 12 Months ........
$578,000
$533,000
-7.8%
Average Median Price for Last 3 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
(in hundred thousands)
$570
$524
P R I C E
yearly trend
JUL
AUG
SEP
OCT
Micro Market Report : July 2012
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
telesintelligence.com
the numbers MEDIAN SALES PRICE**
$530,000
PROPERTIES FOR SALE
108
DAYS ON MARKET**
62
SHADOW INVENTORY
281
**12 month average
ACTIVE LISTINGS
SHADOW INVENTORY
TELES intelligence where data meets reason
July 2012 : Micro Market Report
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References
CONTACTS:
Zachariah Kahn Research & Data Designer, Teles Intelligence zach@telesintelligence.com Steve Shull Chief Strategist, Teles Intelligence steve.shull@telesproperties.com Sharran Srivatsaa Chief Executive Officer, Teles Intelligence sharran.srivatsaa@telesproperties.com
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