Teles intelligence
micro market report condominiums June 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
Santa Monica
Beverly Hills
Encino
Sherman Oaks
Brentwood
Marina Del Rey
Studio City
Micro Market Report : June 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Venice
Westwood - Century City
West Hollywood West LA
June 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$448,000
$515,000
15.0%
Average Price per Square Foot ...........................
$381
$464
21.8%
Properties Sold .......................................................
7.0
3.0
-57.1%
Properties Pending Sale .......................................
7.0
10.0
42.9%
Properties For Sale ................................................
31
27
-12.9%
Days on Market (Pending Sale) ...........................
41
59
43.9%
Month’s Supply of Inventory ................................
4.4
9
103.2%
Percent Under Contract ........................................
22.6%
37.0%
64.0%
Average Median Price for Last 12 Months ........
$471,000
$524,619
11.4%
*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.
(in hundred thousands)
$515
P R I C E
yearly trend
M E D I A N
S A L E S
$448
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$524,619
PROPERTIES FOR SALE
27
DAYS ON MARKET**
39
shadow inventory
4
(90048 Zip Code)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : Micro Market Report
Beverly Hills DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$1,050,000
$868,000
-17.3%
Average Price per Square Foot ...........................
$679
$826
21.6%
Properties Sold .......................................................
11.0
10.0
-9.1%
Properties Pending Sale .......................................
7.0
9.0
28.6%
Properties For Sale ................................................
77
39
-49.4%
Days on Market (Pending Sale) ...........................
98
69
-29.6%
Month’s Supply of Inventory ................................
7
3.9
-44.3%
Percent Under Contract ........................................
9.1%
23.1%
153.8%
Average Median Price for Last 12 Months ........
$964,000
$872,392
-9.5%
*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
$868
(in hundred thousands)
$1.050
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$872,392
PROPERTIES FOR SALE
39
DAYS ON MARKET**
90
shadow inventory
13
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : Micro Market Report
Brentwood DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$700,000
$712,500
1.8%
Average Price per Square Foot ...........................
$442
$475
7.5%
Properties Sold .......................................................
12.0
22.0
83.3%
Properties Pending Sale .......................................
11.0
24.0
118.2%
Properties For Sale ................................................
76
74
-2.6%
Days on Market (Pending Sale) ...........................
76
42
-44.7%
Month’s Supply of Inventory ................................
6.3
3.4
-46.9%
Percent Under Contract ........................................
14.5%
32.4%
124.1%
Average Median Price for Last 12 Months ........
$617,000
$679,702
10.2%
*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.
$712
M E D I A N
S A L E S
(in hundred thousands)
$700
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$679,702
PROPERTIES FOR SALE
74
DAYS ON MARKET**
61
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
June 2013 : Micro Market Report
Culver City DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$259,000
$400,817
54.8%
Average Price per Square Foot ...........................
$306
$355
16.0%
Properties Sold .......................................................
12.0
21.0
75.0%
Properties Pending Sale .......................................
10.0
21.0
110.0%
Properties For Sale ................................................
36
36
0.0%
Days on Market (Pending Sale) ...........................
63
20
-68.3%
Month’s Supply of Inventory ................................
3
1.7
-42.9%
Percent Under Contract ........................................
27.8%
58.3%
110.0%
Average Median Price for Last 12 Months ........
$280,000
$334,978
19.6%
*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.
S A L E S
(in hundred thousands)
$400
P R I C E
yearly trend
M E D I A N
$259
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$334,978
PROPERTIES FOR SALE
36
DAYS ON MARKET**
47
shadow inventory
30
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : Micro Market Report
Encino DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$255,000
$236,000
-7.5%
Average Price per Square Foot ...........................
$206
$226
9.7%
Properties Sold .......................................................
11.0
10.0
-9.1%
Properties Pending Sale .......................................
17.0
23.0
35.3%
Properties For Sale ................................................
29
19
-34.5%
Days on Market (Pending Sale) ...........................
83
28
-66.3%
Month’s Supply of Inventory ................................
2.6
1.9
-27.9%
Percent Under Contract ........................................
58.6%
121.1%
106.5%
Average Median Price for Last 12 Months ........
$199,692
$235,538
18.0%
*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.
M E D I A N
S A L E S
$236
(in hundred thousands)
$255
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$235,538
PROPERTIES FOR SALE
19
DAYS ON MARKET**
60
shadow inventory
36
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : Micro Market Report
Marina Del Rey DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$588,850
$732,500
24.4%
Average Price per Square Foot ...........................
$410
$481
17.3%
Properties Sold .......................................................
31.0
21.0
-32.3%
Properties Pending Sale .......................................
27.0
26.0
-3.7%
Properties For Sale ................................................
167
135
-19.2%
Days on Market (Pending Sale) ...........................
69
60
-13.0%
Month’s Supply of Inventory ................................
5.4
6.4
19.3%
Percent Under Contract ........................................
16.2%
19.3%
19.1%
Average Median Price for Last 12 Months ........
$559,000
$639,481
14.4%
*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.
$732
M E D I A N
S A L E S
(in hundred thousands)
$588
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$639,481
PROPERTIES FOR SALE
135
DAYS ON MARKET**
70
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
June 2013 : Micro Market Report
Santa Monica DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$750,000
$795,500
6.1%
Average Price per Square Foot ...........................
$534
$685
28.3%
Properties Sold .......................................................
41.0
30.0
-26.8%
Properties Pending Sale .......................................
42.0
37.0
-11.9%
Properties For Sale ................................................
158
97
-38.6%
Days on Market (Pending Sale) ...........................
46
23
-50.0%
Month’s Supply of Inventory ................................
3.9
3.2
-16.1%
Percent Under Contract ........................................
26.6%
38.1%
43.5%
Average Median Price for Last 12 Months ........
$725,000
$718,669
-0.9%
*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.
$795
M E D I A N
S A L E S
(in hundred thousands)
$750
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$718,669
PROPERTIES FOR SALE
97
DAYS ON MARKET**
59
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
June 2013 : Micro Market Report
Sherman Oaks DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$325,000
$375,000
15.4%
Average Price per Square Foot ...........................
$235
$276
17.4%
Properties Sold .......................................................
20.0
23.0
15.0%
Properties Pending Sale .......................................
24.0
29.0
20.8%
Properties For Sale ................................................
30
26
-13.3%
Days on Market (Pending Sale) ...........................
65
55
-15.4%
Month’s Supply of Inventory ................................
1.5
1.1
-24.6%
Percent Under Contract ........................................
80.0%
111.5%
39.4%
Average Median Price for Last 12 Months ........
$296,154
$316,769
7.0%
*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.
$375
M E D I A N
S A L E S
(in hundred thousands)
$325
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$316,769
PROPERTIES FOR SALE
26
DAYS ON MARKET**
69
shadow inventory
34
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : Micro Market Report
Studio City DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$420,000
$455,000
8.3%
Average Price per Square Foot ...........................
$294
$356
21.1%
Properties Sold .......................................................
5.0
13.0
160.0%
Properties Pending Sale .......................................
10.0
11.0
10.0%
Properties For Sale ................................................
12
12
0.0%
Days on Market (Pending Sale) ...........................
152
60
-60.5%
Month’s Supply of Inventory ................................
2.4
0.9
-61.5%
Percent Under Contract ........................................
83.3%
91.7%
10.0%
Average Median Price for Last 12 Months ........
$404,308
$425,154
5.2%
*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.
$455
M E D I A N
S A L E S
(in hundred thousands)
$420
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$425,154
PROPERTIES FOR SALE
12
DAYS ON MARKET**
77
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
June 2013 : Micro Market Report
Venice DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$812,500
$940,000
15.7%
Average Price per Square Foot ...........................
$572
$634
10.8%
Properties Sold .......................................................
3.0
9.0
200.0%
Properties Pending Sale .......................................
2.0
4.0
100.0%
Properties For Sale ................................................
23
14
-39.1%
Days on Market (Pending Sale) ...........................
111
40
-64.0%
Month’s Supply of Inventory ................................
7.7
1.6
-79.7%
Percent Under Contract ........................................
8.7%
28.6%
228.6%
Average Median Price for Last 12 Months ........
$890,000
$1,054,367
18.5%
*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
$940
$812
(in hundred thousands)
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$1,054,367
PROPERTIES FOR SALE
14
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
June 2013 : Micro Market Report
West Hollywood DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$394,000
$508,750
29.1%
Average Price per Square Foot ...........................
$413
$467
13.1%
Properties Sold .......................................................
35.0
34.0
-2.9%
Properties Pending Sale .......................................
29.0
37.0
27.6%
Properties For Sale ................................................
128
146
14.1%
Days on Market (Pending Sale) ...........................
68
33
-51.5%
Month’s Supply of Inventory ................................
3.7
4.3
17.4%
Percent Under Contract ........................................
22.7%
25.3%
11.9%
Average Median Price for Last 12 Months ........
$424,000
$484,689
14.3%
*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)
$508
P R I C E
yearly trend
M E D I A N
$394
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$484,689
PROPERTIES FOR SALE
146
DAYS ON MARKET**
53
shadow inventory
25
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : Micro Market Report
West LA DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$465,830
$650,000
39.5%
Average Price per Square Foot ...........................
$384
$434
13.0%
Properties Sold .......................................................
16.0
11.0
-31.2%
Properties Pending Sale .......................................
18.0
13.0
-27.8%
Properties For Sale ................................................
72
51
-29.2%
Days on Market (Pending Sale) ...........................
59
27
-54.2%
Month’s Supply of Inventory ................................
4.5
4.6
3.0%
Percent Under Contract ........................................
25.0%
25.5%
2.0%
Average Median Price for Last 12 Months ........
$497,000
$594,602
19.6%
*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.
S A L E S
(in hundred thousands)
$650
P R I C E
yearly trend
M E D I A N
$465
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$594,602
PROPERTIES FOR SALE
51
DAYS ON MARKET**
57
shadow inventory
18
(90025 Zip Code)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : Micro Market Report
Westwood - Century City DATA*
Jun 2012
Jun 2013
% CHANGE
Median Price ..........................................................
$620,000
$635,000
2.4%
Average Price per Square Foot ...........................
$486
$473
-2.7%
Properties Sold .......................................................
43.0
56.0
30.2%
Properties Pending Sale .......................................
43.0
49.0
14.0%
Properties For Sale ................................................
298
268
-10.1%
Days on Market (Pending Sale) ...........................
104
69
-33.7%
Month’s Supply of Inventory ................................
6.9
4.8
-30.9%
Percent Under Contract ........................................
14.4%
18.3%
26.7%
Average Median Price for Last 12 Months ........
$586,000
$640,919
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.
$635
M E D I A N
S A L E S
(in hundred thousands)
$620
P R I C E
yearly trend
Jun
Jul
Aug
Sep
Micro Market Report : June 2013
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
telesintelligence.com
the numbers median sales price**
$640,919
PROPERTIES FOR SALE
268
DAYS ON MARKET**
82
shadow inventory
30
(90024,90067 Zip Code)
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
June 2013 : 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 June 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.