Teles intelligence
micro market report condominiums July 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 : July 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Studio City
West LA
Venice
Westwood - Century City
West Hollywood
July 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$612,500
$711,500
16.2%
Average Price per Square Foot ...........................
$463
$518
11.9%
Properties Sold .......................................................
5
7
40.0%
Properties Pending Sale .......................................
8
7
-12.5%
Properties For Sale ................................................
33
30
-9.1%
Days on Market (Pending Sale) ...........................
57
38
-33.3%
Month’s Supply of Inventory ................................
6.6
4.3
-35.1%
Percent Under Contract ........................................
24.2%
23.3%
-3.8%
Average Median Price for Last 12 Months ........
$496,000
$544,888
9.9%
*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.
$711
M E D I A N
S A L E S
(in hundred thousands)
$612
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$544,888
PROPERTIES FOR SALE
30
DAYS ON MARKET**
39
shadow inventory
4
(90048)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Beverly Hills DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$900,000
$880,000
-2.2%
Average Price per Square Foot ...........................
$482
$1,020
111.6%
Properties Sold .......................................................
8
9
12.5%
Properties Pending Sale .......................................
12
11
-8.3%
Properties For Sale ................................................
77
47
-39.0%
Days on Market (Pending Sale) ...........................
131
56
-57.3%
Month’s Supply of Inventory ................................
9.6
5.2
-45.7%
Percent Under Contract ........................................
15.6%
23.4%
50.2%
Average Median Price for Last 12 Months ........
$960,000
$859,315
-10.5%
*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.
$900
M E D I A N
S A L E S
(in hundred thousands)
$880
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$859,315
PROPERTIES FOR SALE
47
DAYS ON MARKET**
87
shadow inventory
9
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Brentwood DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$600,000
$710,000
18.3%
Average Price per Square Foot ...........................
$417
$498
19.4%
Properties Sold .......................................................
15
18
20.0%
Properties Pending Sale .......................................
15
16
6.7%
Properties For Sale ................................................
78
74
-5.1%
Days on Market (Pending Sale) ...........................
48
38
-20.8%
Month’s Supply of Inventory ................................
5.2
4.1
-20.9%
Percent Under Contract ........................................
19.2%
21.6%
12.4%
Average Median Price for Last 12 Months ........
$613,000
$680,471
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.
$710
M E D I A N
S A L E S
(in hundred thousands)
$600
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$680,471
PROPERTIES FOR SALE
74
DAYS ON MARKET**
58
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
July 2013 : Micro Market Report
Culver City DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$259,500
$431,250
66.2%
Average Price per Square Foot ...........................
$268
$356
32.8%
Properties Sold .......................................................
12
22
83.3%
Properties Pending Sale .......................................
9
14
55.6%
Properties For Sale ................................................
33
39
18.2%
Days on Market (Pending Sale) ...........................
75
21
-72.0%
Month’s Supply of Inventory ................................
2.8
1.8
-35.5%
Percent Under Contract ........................................
27.3%
35.9%
31.6%
Average Median Price for Last 12 Months ........
$277,000
$348,228
25.7%
*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.
S A L E S
(in hundred thousands)
$431
P R I C E
yearly trend
M E D I A N
$259
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$348,228
PROPERTIES FOR SALE
39
DAYS ON MARKET**
44
shadow inventory
31
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Encino DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$235,000
$295,000
25.5%
Average Price per Square Foot ...........................
$187
$264
41.2%
Properties Sold .......................................................
13
19
46.2%
Properties Pending Sale .......................................
16
13
-18.8%
Properties For Sale ................................................
23
23
0.0%
Days on Market (Pending Sale) ...........................
86
38
-55.8%
Month’s Supply of Inventory ................................
1.8
1.2
-31.6%
Percent Under Contract ........................................
69.6%
56.5%
-18.8%
Average Median Price for Last 12 Months ........
$203,154
$238,615
17.5%
*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.
$295
M E D I A N
S A L E S
(in hundred thousands)
$235
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$238,615
PROPERTIES FOR SALE
23
DAYS ON MARKET**
56
shadow inventory
32
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Malibu DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$505,000
$582,500
15.3%
Average Price per Square Foot ...........................
$300
$525
75.0%
Properties Sold .......................................................
1
4
300.0%
Properties Pending Sale .......................................
2
3
50.0%
Properties For Sale ................................................
35
20
-42.9%
Days on Market (Pending Sale) ...........................
23
100
334.8%
Month’s Supply of Inventory ................................
35
5
-85.7%
Percent Under Contract ........................................
5.7%
15.0%
162.5%
Average Median Price for Last 12 Months ........
$581,000
$635,808
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
$582 $505
(in hundred thousands)
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$635,808
PROPERTIES FOR SALE
20
DAYS ON MARKET**
111
shadow inventory
9
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Marina Del Rey DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$542,500
$862,500
59.0%
Average Price per Square Foot ...........................
$377
$626
66.0%
Properties Sold .......................................................
34
29
-14.7%
Properties Pending Sale .......................................
15
24
60.0%
Properties For Sale ................................................
148
140
-5.4%
Days on Market (Pending Sale) ...........................
69
68
-1.4%
Month’s Supply of Inventory ................................
4.4
4.8
10.9%
Percent Under Contract ........................................
10.1%
17.1%
69.1%
Average Median Price for Last 12 Months ........
$559,000
$660,531
18.2%
*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)
$862
P R I C E
yearly trend
M E D I A N
$542
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$660,531
PROPERTIES FOR SALE
140
DAYS ON MARKET**
70
shadow inventory
18
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Santa Monica DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$730,250
$830,000
13.7%
Average Price per Square Foot ...........................
$590
$629
6.6%
Properties Sold .......................................................
36
28
-22.2%
Properties Pending Sale .......................................
35
43
22.9%
Properties For Sale ................................................
165
107
-35.2%
Days on Market (Pending Sale) ...........................
49
31
-36.7%
Month’s Supply of Inventory ................................
4.6
3.8
-16.6%
Percent Under Contract ........................................
21.2%
40.2%
89.5%
Average Median Price for Last 12 Months ........
$721,000
$724,823
0.5%
*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.
$830
M E D I A N
S A L E S
(in hundred thousands)
$730
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$724,823
PROPERTIES FOR SALE
107
DAYS ON MARKET**
58
shadow inventory
29
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Sherman Oaks DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$260,000
$368,000
41.5%
Average Price per Square Foot ...........................
$225
$285
26.7%
Properties Sold .......................................................
14
20
42.9%
Properties Pending Sale .......................................
21
23
9.5%
Properties For Sale ................................................
30
29
-3.3%
Days on Market (Pending Sale) ...........................
59
34
-42.4%
Month’s Supply of Inventory ................................
2.1
1.4
-32.3%
Percent Under Contract ........................................
70.0%
79.3%
13.3%
Average Median Price for Last 12 Months ........
$293,077
$320,077
9.2%
*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)
$368
P R I C E
yearly trend
M E D I A N
S A L E S
$260
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$320,077
PROPERTIES FOR SALE
29
DAYS ON MARKET**
67
shadow inventory
37
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Studio City DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$458,000
$510,000
11.4%
Average Price per Square Foot ...........................
$291
$342
17.5%
Properties Sold .......................................................
8
13
62.5%
Properties Pending Sale .......................................
8
11
37.5%
Properties For Sale ................................................
15
16
6.7%
Days on Market (Pending Sale) ...........................
55
41
-25.5%
Month’s Supply of Inventory ................................
1.9
1.2
-34.4%
Percent Under Contract ........................................
53.3%
68.8%
28.9%
Average Median Price for Last 12 Months ........
$397,538
$432,077
8.7%
*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.
$510
M E D I A N
S A L E S
(in hundred thousands)
$458
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$432,077
PROPERTIES FOR SALE
16
DAYS ON MARKET**
68
shadow inventory
16
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Venice DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$1,104,250
$1,275,000
15.5%
Average Price per Square Foot ...........................
$537
$788
46.7%
Properties Sold .......................................................
2
6
200.0%
Properties Pending Sale .......................................
2
3
50.0%
Properties For Sale ................................................
20
18
-10.0%
Days on Market (Pending Sale) ...........................
146
106
-27.4%
Month’s Supply of Inventory ................................
10
3
-70.0%
Percent Under Contract ........................................
10.0%
16.7%
66.7%
Average Median Price for Last 12 Months ........
$906,000
$1,092,908
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.
M E D I A N
S A L E S
$1.104
(in hundred thousands)
$1.275
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$1,092,908
PROPERTIES FOR SALE
18
DAYS ON MARKET**
78
shadow inventory
2
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
West Hollywood DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$485,000
$505,000
4.1%
Average Price per Square Foot ...........................
$403
$506
25.6%
Properties Sold .......................................................
29
40
37.9%
Properties Pending Sale .......................................
27
41
51.9%
Properties For Sale ................................................
123
141
14.6%
Days on Market (Pending Sale) ...........................
61
49
-19.7%
Month’s Supply of Inventory ................................
4.2
3.5
-16.9%
Percent Under Contract ........................................
22.0%
29.1%
32.5%
Average Median Price for Last 12 Months ........
$421,000
$493,228
17.2%
*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.
$505
M E D I A N
S A L E S
(in hundred thousands)
$485
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$493,228
PROPERTIES FOR SALE
141
DAYS ON MARKET**
52
shadow inventory
27
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
West LA DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$472,500
$704,500
49.1%
Average Price per Square Foot ...........................
$379
$447
17.9%
Properties Sold .......................................................
11
14
27.3%
Properties Pending Sale .......................................
11
19
72.7%
Properties For Sale ................................................
69
52
-24.6%
Days on Market (Pending Sale) ...........................
90
39
-56.7%
Month’s Supply of Inventory ................................
6.3
3.7
-40.8%
Percent Under Contract ........................................
15.9%
36.5%
129.2%
Average Median Price for Last 12 Months ........
$493,000
$612,961
24.3%
*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)
$704
P R I C E
yearly trend
M E D I A N
$472
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$612,961
PROPERTIES FOR SALE
52
DAYS ON MARKET**
55
shadow inventory
19
(90025)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Westwood - Century City DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$580,000
$660,000
13.8%
Average Price per Square Foot ...........................
$453
$574
26.7%
Properties Sold .......................................................
34
41
20.6%
Properties Pending Sale .......................................
44
60
36.4%
Properties For Sale ................................................
279
279
0.0%
Days on Market (Pending Sale) ...........................
75
42
-44.0%
Month’s Supply of Inventory ................................
8.2
6.8
-17.1%
Percent Under Contract ........................................
15.8%
21.5%
36.4%
Average Median Price for Last 12 Months ........
$581,000
$643,996
10.8%
*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.
$660
M E D I A N
S A L E S
(in hundred thousands)
$580
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$643,996
PROPERTIES FOR SALE
279
DAYS ON MARKET**
77
shadow inventory
31
(90024, 90067)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 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 July 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.