Teles intelligence
micro market report los angeles MARCH 2012 | SINGLE FAMILY HOMES REPORT
March 2012
Ask The Right Questions
Conventional wisdom tells us to always ask “why?” Why do we do it that
Sharran Srivatsaa Chief Executive Officer, Teles Intelligence
way? Why does it work like that? Why should I listen to her? Why are you reminding me to ask why? Why? Generally, when presented with any kind of trend, we have also been taught to think in a similar way and ask why we are seeing that trend? For example, our analysts found a study that discussed the median price of home sales and its upward trend. The report also answered the “why” and did a detailed job of answering why there was an upward trend. For the same period, we also found a study that showed the median price of home sales and a downward trend, and similarly the report accurately analyzed “why” there was a downward trend. We asked “why” and got good answers - but can both reports be correct? Both reports were in fact accurate. We realized quickly that the question we should be asking first, specifically regarding trends, is not “why” but “what”. We are arguing about the value of first asking “what” the trend is really about versus accepting the trend for what it is and only being curious about “why” it is that way.
In the provided, one report found that across the United States, the median price of new home sales showed an upward trend while the other report actually referred to median price of existing home sales drifting downward. Big difference. Now lets ask why. The house price gap between distressed and non-distressed properties continues to widen, especially since distressed sales constitute approximately 30% of home sales. Specifically in California, 35% of homeowners are not only underwater on their mortgage but also near negative equity (those with 5% equity or less). In hindsight, it makes sense. We should first understand what we are looking at and only then try to understand why it is that way. What do you think?
All the Best!
S harr an S ri vats aa
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.
Navigating Solutions. At Riviera Financial, the business of real estate finance is about much more than loans. It is about offering diverse and competitive products; advising borrowers to make informed choices to support and protect their security; providing extraordinarily thorough customer care; and navigating solutions. Our customers expect and deserve the highest level of service and performance in all of their borrowing activities. When it comes to dedicated, comprehensive real estate finance, Riviera Financial delivers.
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los orange angeles county Los Angeles Macro Market
Brentwood
Los Feliz
Bel Air - Holmby Hills
Cheviot Hills - Rancho Park
Malibu
Beverly Center - Miracle Mile
Culver City
Malibu Beach
Beverly Hills
Hancock Park - Wilshire
Marina del Rey
Beverly Hills P.O.
Hollywood
Mid Los Angeles
Beverlywood
Hollywood Hills East
Mid Wilshire
Micro Market Report : March 2012
telesintelligence.com
san south gabriel bay Pacific Palisades
Venice
Palms - Mar Vista
West Hollywood
Playa del Rey
West Los Angeles
Playa Vista
Westchester
Santa Monica
Westwood - Century City
Sunset Strip - Hollywood Hills West
March 2012 : Micro Market Report
Los Angeles Macro Market DATA *
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,247,214
$1,336,983
7.2%
Average Price per Square Foot ...........................
$544
$567
4.2%
Properties Sold .......................................................
317
322
1.6%
Properties Pending Sale .......................................
379
453
19.5%
Properties For Sale ................................................
3143
2423
-22.9%
Days on Market (Pending Sale) ...........................
68
62
-9.7%
Month’s Supply of Inventory ................................
9.9
7.5
-24.1%
Percent Under Contract ........................................
12.1%
18.7%
55.0%
Average Median Price for Last 12 Months ........
$1,314,821
$1,313,404
-0.1%
*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)
$1.336
$1.247
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
Bel Air - Holmby Hil s DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,117,500
$2,622,000
134.6%
Average Price per Square Foot ...........................
$552
$850
54.0%
Properties Sold .......................................................
8
15
87.5%
Properties Pending Sale .......................................
17
20
17.6%
Properties For Sale ................................................
178
134
-24.7%
Days on Market (Pending Sale) ...........................
98
89
-9.2%
Month’s Supply of Inventory ................................
22.3
8.9
-59.9%
Percent Under Contract ........................................
9.6%
14.9%
56.3%
Average Median Price for Last 12 Months ........
$1,887,000
$1,767,914
-6.7%
*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)
$2.622
P R I C E
yearly trend
MAR
M E D I A N
$1.117
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,767,914
PROPERTIES FOR SALE
134
DAYS ON MARKET**
90
shadow inventory
31
(90077 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Beverly Center - Miracle Mile DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$932,000
$772,500
-17.1%
Average Price per Square Foot ...........................
$489
$436
-10.8%
Properties Sold .......................................................
11
12
9.1%
Properties Pending Sale .......................................
14
21
50.0%
Properties For Sale ................................................
106
72
-32.1%
Days on Market (Pending Sale) ...........................
48
49
2.1%
Month’s Supply of Inventory ................................
9.6
6.0
-37.7%
Percent Under Contract ........................................
13.2%
29.2%
120.8%
Average Median Price for Last 12 Months ........
$946,000
$924,404
-2.3%
*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
$772
S A L E S
$932
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$924,404
PROPERTIES FOR SALE
72
DAYS ON MARKET**
48
SHADOW INVENTORY
22
(90048 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Beverly Hil s DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$2,942,500
$4,100,000
39.3%
Average Price per Square Foot ...........................
$858
$990
15.4%
Properties Sold .......................................................
14
17
21.4%
Properties Pending Sale .......................................
8
16
100.0%
Properties For Sale ................................................
148
124
-16.2%
Days on Market (Pending Sale) ...........................
128
138
7.8%
Month’s Supply of Inventory ................................
10.6
7.3
-31.0%
Percent Under Contract ........................................
5.4%
12.9%
138.7%
Average Median Price for Last 12 Months ........
$3,294,000
$3,220,000
-2.3%
*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
$2.942
S A L E S
$4.100
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$3,220,000
PROPERTIES FOR SALE
124
DAYS ON MARKET**
96
SHADOW INVENTORY
82
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Beverly Hil s P.O. DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$2,221,250
$1,723,750
-22.4%
Average Price per Square Foot ...........................
$618
$525
-15.0%
Properties Sold .......................................................
12
12
0.0%
Properties Pending Sale .......................................
19
24
26.3%
Properties For Sale ................................................
184
143
-22.3%
Days on Market (Pending Sale) ...........................
96
84
-12.5%
Month’s Supply of Inventory ................................
15.3
11.9
-22.3%
Percent Under Contract ........................................
10.3%
16.8%
62.5%
Average Median Price for Last 12 Months ........
$1,752,000
$2,091,923
16.2%
*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
$1.723
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
$2.221
MAR
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$2,091,923
PROPERTIES FOR SALE
143
DAYS ON MARKET**
100
Shadow inventory
66
(90210 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Beverlywood DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$639,500
$795,000
24.3%
Average Price per Square Foot ...........................
$393
$442
12.5%
Properties Sold .......................................................
2
13
550.0%
Properties Pending Sale .......................................
11
12
9.1%
Properties For Sale ................................................
89
51
-42.7%
Days on Market (Pending Sale) ...........................
50
29
-42.0%
Month’s Supply of Inventory ................................
44.5
3.9
-91.2%
Percent Under Contract ........................................
12.4%
23.5%
90.4%
Average Median Price for Last 12 Months ........
$791,000
$751,385
-5.3%
*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)
$795
P R I C E
yearly trend
M E D I A N
$639
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$751,385
PROPERTIES FOR SALE
51
DAYS ON MARKET**
47
Shadow inventory
28
(90035 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Brentwood DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,675,000
$1,685,000
0.6%
Average Price per Square Foot ...........................
$964
$656
-32.0%
Properties Sold .......................................................
13
17
30.8%
Properties Pending Sale .......................................
19
17
-10.5%
Properties For Sale ................................................
163
136
-16.6%
Days on Market (Pending Sale) ...........................
48
79
64.6%
Month’s Supply of Inventory ................................
12.5
8.0
-36.2%
Percent Under Contract ........................................
11.7%
12.5%
7.2%
Average Median Price for Last 12 Months ........
$1,770,000
$1,917,231
7.7%
*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
$1.685
$1.675
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,917,231
PROPERTIES FOR SALE
136
DAYS ON MARKET**
71
Shadow Inventory
43 (90049 Zip Code) **12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Cheviot Hil s - Rancho Park DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,147,750
$1,400,000
22.0%
Average Price per Square Foot ...........................
$475
$468
-1.5%
Properties Sold .......................................................
12
5
-58.3%
Properties Pending Sale .......................................
8
8
0.0%
Properties For Sale ................................................
35
30
-14.3%
Days on Market (Pending Sale) ...........................
39
29
-25.6%
Month’s Supply of Inventory ................................
2.9
6.0
105.7%
Percent Under Contract ........................................
22.9%
26.7%
16.7%
Average Median Price for Last 12 Months ........
$1,094,000
$1,256,104
12.9%
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.
S A L E S
(in hundred thousands)
$1.400
P R I C E
yearly trend
M E D I A N
$1.147
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,256,104
PROPERTIES FOR SALE
30
DAYS ON MARKET**
55
SHADOW INVENTORY
52
(90064 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Culver City DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$695,000
$538,000
-22.6%
Average Price per Square Foot ...........................
$461
$510
10.6%
Properties Sold .......................................................
5
7
40.0%
Properties Pending Sale .......................................
12
11
-8.3%
Properties For Sale ................................................
62
50
-19.4%
Days on Market (Pending Sale) ...........................
47
55
17.0%
Month’s Supply of Inventory ................................
12.4
7.1
-42.4%
Percent Under Contract ........................................
19.4%
22.0%
13.7%
Average Median Price for Last 12 Months ........
$660,000
$630,079
-4.7%
*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
$538
S A L E S
$695
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$630,079
PROPERTIES FOR SALE
50
DAYS ON MARKET**
53
SHADOW INVENTORY
58
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Hancock Park - Wilshire DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$900,000
$817,000
-9.2%
Average Price per Square Foot ...........................
$433
$350
-19.2%
Properties Sold .......................................................
15
16
6.7%
Properties Pending Sale .......................................
21
31
47.6%
Properties For Sale ................................................
148
123
-16.9%
Days on Market (Pending Sale) ...........................
44
54
22.7%
Month’s Supply of Inventory ................................
9.9
7.7
-22.1%
Percent Under Contract ........................................
14.2%
25.2%
77.6%
Average Median Price for Last 12 Months ........
$1,069,000
$975,250
-9.6%
*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
$817
S A L E S
$900
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$975,250
PROPERTIES FOR SALE
123
DAYS ON MARKET**
58
shadow inventory
74
(90004, 90020 Zip Codes)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Hollywood DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$427,500
$338,500
399.0%
Average Price per Square Foot ...........................
$184
$317
77.1%
Properties Sold .......................................................
4
5
200.0%
Properties Pending Sale .......................................
4
7
75.0%
Properties For Sale ................................................
23
20
-8.7%
Days on Market (Pending Sale) ...........................
57
57
169.2%
Month’s Supply of Inventory ................................
5.8
4.0
-47.8%
Percent Under Contract ........................................
17.4%
35.0%
91.7%
Average Median Price for Last 12 Months ........
$451,000
$457,038
-2.8% 8.0%
*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
$338
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
$427
MAR
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$457,038
PROPERTIES FOR SALE
20
DAYS ON MARKET**
47
shadow inventory
101
(90028, 90038, 90068 Zip Codes)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Hollywood Hil s East DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$792,500
$1,130,000
42.6%
Average Price per Square Foot ...........................
$392
$454
15.8%
Properties Sold .......................................................
10
9
-10.0%
Properties Pending Sale .......................................
12
16
33.3%
Properties For Sale ................................................
95
71
-25.3%
Days on Market (Pending Sale) ...........................
58
54
-6.9%
Month’s Supply of Inventory ................................
7.9
7.9
-0.4%
Percent Under Contract ........................................
12.6%
22.5%
78.4%
Average Median Price for Last 12 Months ........
$958,000
$846,038
-13.2%
*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)
$1.130
P R I C E
yearly trend
M E D I A N
$792
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$846,038
PROPERTIES FOR SALE
71
DAYS ON MARKET**
67
shadow inventory
41
(90027 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Los Feliz DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$975,000
$929,000
-4.7%
Average Price per Square Foot ...........................
$486
$520
7.0%
Properties Sold .......................................................
13
21
61.5%
Properties Pending Sale .......................................
19
11
-42.1%
Properties For Sale ................................................
97
73
-24.7%
Days on Market (Pending Sale) ...........................
28
64
128.6%
Month’s Supply of Inventory ................................
5.1
3.5
-31.9%
Percent Under Contract ........................................
19.6%
15.1%
-23.1%
Average Median Price for Last 12 Months ........
$987,000
$936,825
-5.4%
*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
$929
S A L E S
$975
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$936,825
PROPERTIES FOR SALE
73
DAYS ON MARKET**
50
shadow inventory
44
(90027 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Malibu DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,200,000
$1,275,000
6.3%
Average Price per Square Foot ...........................
$716
$519
-27.5%
Properties Sold .......................................................
11
12
9.1%
Properties Pending Sale .......................................
11
13
18.2%
Properties For Sale ................................................
283
221
-21.9%
Days on Market (Pending Sale) ...........................
129
140
8.5%
Month’s Supply of Inventory ................................
25.7
18.4
-28.4%
Percent Under Contract ........................................
3.9%
5.9%
51.3%
Average Median Price for Last 12 Months ........
$1,975,000
$1,790,270
-10.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$1.275
$1.200
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
S A L E S
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$1,790,270
PROPERTIES FOR SALE
221
DAYS ON MARKET**
155
SHADOW INVENTORY
66
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Malibu Beach DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$5,184,000
$5,250,000
1.3%
Average Price per Square Foot ...........................
$1,415
$1,812
28.1%
Properties Sold .......................................................
3
5
66.7%
Properties Pending Sale .......................................
2
9
350.0%
Properties For Sale ................................................
112
88
-21.4%
Days on Market (Pending Sale) ...........................
154
219
42.2%
Month’s Supply of Inventory ................................
37.3
17.6
-52.9%
Percent Under Contract ........................................
1.8%
10.2%
472.7%
Average Median Price for Last 12 Months ........
$5,188,000
$5,517,625
6.0%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$5.250
$5.184
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
S A L E S
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$5,093,192
PROPERTIES FOR SALE
88
DAYS ON MARKET**
196
SHADOW INVENTORY
16
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Marina del Rey DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,398,500
$0
-100.0%
Average Price per Square Foot ...........................
$424
$0
-100.0%
Properties Sold .......................................................
2
0
-100.0%
Properties Pending Sale .......................................
4
8
100.0%
Properties For Sale ................................................
40
36
-10.0%
Days on Market (Pending Sale) ...........................
61
46
-24.6%
Month’s Supply of Inventory ................................
20.0
N/A
N/A
Percent Under Contract ........................................
10.0%
22.2%
122.2%
Average Median Price for Last 12 Months ........
$1,419,000
$1,250,750
-13.5%
*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
$0
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
$1.398
MAR
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$1,058,327
PROPERTIES FOR SALE
36
DAYS ON MARKET**
68
SHADOW INVENTORY
4
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Mid Los Angeles DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$265,000
$249,050
-41.4%
Average Price per Square Foot ...........................
$221
$242
-6.5%
Properties Sold .......................................................
18
10
-22.2%
Properties Pending Sale .......................................
18
29
38.5%
Properties For Sale ................................................
137
100
-27.8%
Days on Market (Pending Sale) ...........................
59
59
-19.5%
Month’s Supply of Inventory ................................
7.6
10.0
-47.9%
Percent Under Contract ........................................
13.1%
29.0%
91.8%
Average Median Price for Last 12 Months ........
$317,000
$294,377
-5.9% -11.6%
*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
$249
S A L E S
$285
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$294,377
PROPERTIES FOR SALE
100
DAYS ON MARKET**
58
shadow inventory
127 (90019 Zip Code) **12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Mid Wilshire DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$500,000
$400,000
-20.0%
Average Price per Square Foot ...........................
$266
$293
10.2%
Properties Sold .......................................................
3
1
-66.7%
Properties Pending Sale .......................................
1
4
300.0%
Properties For Sale ................................................
33
25
-24.2%
Days on Market (Pending Sale) ...........................
63
9
-85.7%
Month’s Supply of Inventory ................................
11.0
25.0
127.3%
Percent Under Contract ........................................
3.0%
16.0%
428.0%
Average Median Price for Last 12 Months ........
$422,000
$433,761
2.7%
*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
$500
S A L E S
$400
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$403,472
PROPERTIES FOR SALE
25
DAYS ON MARKET**
23
shadow inventory
31
(90036 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Pacific Palisades DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$2,020,500
$1,629,000
-19.4%
Average Price per Square Foot ...........................
$699
$576
-17.6%
Properties Sold .......................................................
22
19
-13.6%
Properties Pending Sale .......................................
34
30
-11.8%
Properties For Sale ................................................
190
148
-22.1%
Days on Market (Pending Sale) ...........................
59
61
3.4%
Month’s Supply of Inventory ................................
8.6
7.8
-9.8%
Percent Under Contract ........................................
17.9%
20.3%
13.3%
Average Median Price for Last 12 Months ........
$1,824,000
$1,736,643
-5.0%
*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
$1.629
S A L E S
$2.020
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,736,643
PROPERTIES FOR SALE
148
DAYS ON MARKET**
65
SHADOW INVENTORY
29
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Palms - Mar Vista DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$816,000
$840,000
-14.1%
Average Price per Square Foot ...........................
$450
$492
-5.9%
Properties Sold .......................................................
21
15
25.0%
Properties Pending Sale .......................................
29
21
-9.1%
Properties For Sale ................................................
112
75
-23.6%
Days on Market (Pending Sale) ...........................
41
37
37.3%
Month’s Supply of Inventory ................................
5.3
5.0
-15.9%
Percent Under Contract ........................................
25.9%
28.0%
19.0%
Average Median Price for Last 12 Months ........
$740,000
$745,538
0.3% 1.8%
*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
(in hundred thousands)
$840
$816
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$745,538
PROPERTIES FOR SALE
75
DAYS ON MARKET**
52
shadow inventory
112
(90066, 90034 Zip Codes)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Playa del Rey DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$985,000
$800,000
-18.8%
Average Price per Square Foot ...........................
$390
$455
16.7%
Properties Sold .......................................................
3
5
66.7%
Properties Pending Sale .......................................
2
8
300.0%
Properties For Sale ................................................
28
23
-17.9%
Days on Market (Pending Sale) ...........................
54
47
-13.0%
Month’s Supply of Inventory ................................
9.3
4.6
-50.7%
Percent Under Contract ........................................
7.1%
34.8%
387.0%
Average Median Price for Last 12 Months ........
$1,050,000
$903,266
-16.2%
*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
$800
S A L E S
$985
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$833,538
PROPERTIES FOR SALE
23
DAYS ON MARKET**
57
SHADOW INVENTORY
15
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Playa Vista DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,070,500
$0
N/A
Average Price per Square Foot ...........................
$310
$0
N/A
Properties Sold .......................................................
1
0
N/A
Properties Pending Sale .......................................
1
0
N/A
Properties For Sale ................................................
3
5
66.7%
Days on Market (Pending Sale) ...........................
40
0
N/A
Month’s Supply of Inventory ................................
3.0
N/A
N/A
Percent Under Contract ........................................
33.3%
0.0%
N/A
Average Median Price for Last 12 Months ........
$1,031,000
$923,156
-11.7%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$0
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
S A L E S
$1.070
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$568,096
PROPERTIES FOR SALE
5
DAYS ON MARKET**
22
shadow inventory
1
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Santa Monica DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,500,000
$1,711,500
14.1%
Average Price per Square Foot ...........................
$743
$740
-0.4%
Properties Sold .......................................................
21
21
0.0%
Properties Pending Sale .......................................
19
20
5.3%
Properties For Sale ................................................
120
108
-10.0%
Days on Market (Pending Sale) ...........................
79
35
-55.7%
Month’s Supply of Inventory ................................
5.7
5.1
-10.0%
Percent Under Contract ........................................
15.8%
18.5%
17.0%
Average Median Price for Last 12 Months ........
$1,582,000
$1,617,812
2.2%
*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
$1.500
S A L E S
$1.711
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,617,812
PROPERTIES FOR SALE
108
DAYS ON MARKET**
67
SHADOW INVENTORY
37
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Sunset Strip - Hollywood Hil s West DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,027,500
$1,051,500
2.3%
Average Price per Square Foot ...........................
$533
$551
3.4%
Properties Sold .......................................................
38
30
-21.1%
Properties Pending Sale .......................................
29
42
44.8%
Properties For Sale ................................................
347
264
-23.9%
Days on Market (Pending Sale) ...........................
86
64
-25.6%
Month’s Supply of Inventory ................................
9.1
8.8
-3.6%
Percent Under Contract ........................................
8.4%
15.9%
90.4%
Average Median Price for Last 12 Months ........
$1,260,000
$1,240,938
-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.
M E D I A N
S A L E S
$1.051
$1.027
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,240,938
PROPERTIES FOR SALE
264
DAYS ON MARKET**
76
shadow inventory
102
(90028, 90068 Zip Codes)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Venice DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$840,000
$1,025,000
66.1%
Average Price per Square Foot ...........................
$679
$634
-2.0%
Properties Sold .......................................................
17
8
-57.1%
Properties Pending Sale .......................................
18
23
8.3%
Properties For Sale ................................................
124
101
-22.3%
Days on Market (Pending Sale) ...........................
79
71
-31.3%
Month’s Supply of Inventory ................................
7.3
12.6
-28.3%
Percent Under Contract ........................................
14.5%
22.8%
39.5%
Average Median Price for Last 12 Months ........
$966,000
$997,777
1.3% 18.9%
*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
$940
S A L E S
$1.025
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$997,777
PROPERTIES FOR SALE
101
DAYS ON MARKET**
64
SHADOW INVENTORY
33
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
West Hollywood DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$916,250
$1,232,250
26.7%
Average Price per Square Foot ...........................
$602
$544
8.7%
Properties Sold .......................................................
8
6
-55.6%
Properties Pending Sale .......................................
10
6
57.1%
Properties For Sale ................................................
64
42
-20.3%
Days on Market (Pending Sale) ...........................
81
88
-4.3%
Month’s Supply of Inventory ................................
8.0
7.0
-49.3%
Percent Under Contract ........................................
15.6%
14.3%
97.2%
Average Median Price for Last 12 Months ........
$776,000
$971,885
17.5% 22.0%
*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)
$1.232
P R I C E
yearly trend
M E D I A N
$916
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$971,885
PROPERTIES FOR SALE
42
DAYS ON MARKET**
72
SHADOW INVENTORY
26
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
West Los Angeles DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$535,000
$690,000
29.0%
Average Price per Square Foot ...........................
$394
$400
1.5%
Properties Sold .......................................................
5
5
0.0%
Properties Pending Sale .......................................
4
3
-25.0%
Properties For Sale ................................................
48
30
-37.5%
Days on Market (Pending Sale) ...........................
117
8
-93.2%
Month’s Supply of Inventory ................................
9.6
6.0
-37.5%
Percent Under Contract ........................................
8.3%
10.0%
20.0%
Average Median Price for Last 12 Months ........
$664,000
$624,073
-6.4%
*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
$535
S A L E S
$690
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$624,073
PROPERTIES FOR SALE
30
DAYS ON MARKET**
50
Shaodw inventory
22
(90025 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Westchester DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$683,250
$550,000
-19.5%
Average Price per Square Foot ...........................
$426
$393
-7.7%
Properties Sold .......................................................
12
20
66.7%
Properties Pending Sale .......................................
24
20
-16.7%
Properties For Sale ................................................
97
52
-46.4%
Days on Market (Pending Sale) ...........................
35
29
-17.1%
Month’s Supply of Inventory ................................
8.1
2.6
-67.8%
Percent Under Contract ........................................
24.7%
38.5%
55.4%
Average Median Price for Last 12 Months ........
$662,000
$633,192
-4.5%
*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
$550
S A L E S
$683
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$633,192
PROPERTIES FOR SALE
52
DAYS ON MARKET**
46
shadow inventory
95
(90045 Zip Code)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Westwood - Century City DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,515,000
$1,207,500
-20.3%
Average Price per Square Foot ...........................
$653
$563
-13.8%
Properties Sold .......................................................
13
16
23.1%
Properties Pending Sale .......................................
9
23
155.6%
Properties For Sale ................................................
77
78
1.3%
Days on Market (Pending Sale) ...........................
31
29
-6.5%
Month’s Supply of Inventory ................................
5.9
4.9
-17.7%
Percent Under Contract ........................................
11.7%
29.5%
152.3%
Average Median Price for Last 12 Months ........
$1,280,000
$1,320,056
3.0%
*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
$1.207
S A L E S
$1.515
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,320,056
PROPERTIES FOR SALE
78
DAYS ON MARKET**
39
shadow inventory
12
(90024, 90067 Zip Codes)
**12 month average
acti v e listin g s
s h ad o w in v ent o r y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
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References
CONTACTS:
Laron Turley Director of Research, Teles Intelligence laron.turley@telesproperties.com Steve Shull Chief Strategist, Teles Intelligence steve.shull@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 MARCH 2012 | LOS ANGELES | ORANGE COUNTY | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.