Teles intelligence
micro market report south bay MAY 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 : May 2012
telesintelligence.com
geles
orange county
nando
san gabriel Rolling Hills Estates
Torrance
San Pedro
May 2012 : Micro Market Report
South Bay Macro Market DATA *
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$1,179,722
$1,030,444
-12.7%
Average Price per Square Foot ...........................
$447
$397
-11.2%
Properties Sold .......................................................
153
238
55.6%
Properties Pending Sale .......................................
169
273
61.5%
Properties For Sale ................................................
1089
890
-18.3%
Days on Market (Pending Sale) ...........................
72
58
-20.6%
Month’s Supply of Inventory ................................
7.1
3.7
-47.5%
Percent Under Contract ........................................
15.5%
30.7%
97.7%
Average Median Price for Last 12 Months ........
$1,152,500
$1,136,523
-1.4%
*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
$1.030
S A L E S
$1.180
(in hundred thousands)
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
Manhattan Beach DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$1,580,000
$1,537,500
-2.7%
Average Price per Square Foot ...........................
$791
$659
-16.7%
Properties Sold .......................................................
29
38
31.0%
Properties Pending Sale .......................................
35
39
11.4%
Properties For Sale ................................................
181
111
-38.7%
Days on Market (Pending Sale) ...........................
75
49
-34.7%
Month’s Supply of Inventory ................................
6.2
2.9
-53.2%
Percent Under Contract ........................................
19.3%
35.1%
81.7%
Average Median Price for Last 12 Months ........
$1,516,000
$1,502,577
-0.9%
*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 M E D I A N
$1.538
(in hundred thousands)
$1.580
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$1,502,577
PROPERTIES FOR SALE
111
DAYS ON MARKET**
74
SHADOW INVENTORY
30
**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
May 2012 : Micro Market Report
Palos Verdes DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$1,125,000
$985,000
-12.4%
Average Price per Square Foot ...........................
$534
$462
-13.5%
Properties Sold .......................................................
16
31
93.8%
Properties Pending Sale .......................................
13
34
161.5%
Properties For Sale ................................................
100
164
64.0%
Days on Market (Pending Sale) ...........................
83
64
-22.9%
Month’s Supply of Inventory ................................
6.3
5.3
-15.4%
Percent Under Contract ........................................
13.0%
20.7%
59.5%
Average Median Price for Last 12 Months ........
$992,000
$974,423
-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
$985
S A L E S
$1.125
(in hundred thousands)
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$974,423
PROPERTIES FOR SALE
164
DAYS ON MARKET**
95
SHADOW INVENTORY
28
**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
May 2012 : Micro Market Report
Rancho Palos Verdes DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$1,032,500
$950,000
-8.0%
Average Price per Square Foot ...........................
$429
$459
7.0%
Properties Sold .......................................................
26
26
0.0%
Properties Pending Sale .......................................
22
26
18.2%
Properties For Sale ................................................
206
129
-37.4%
Days on Market (Pending Sale) ...........................
63
59
-6.3%
Month’s Supply of Inventory ................................
7.9
5.0
-37.4%
Percent Under Contract ........................................
10.7%
20.2%
88.7%
Average Median Price for Last 12 Months ........
$961,000
$937,119
-2.5%
*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
$950
(in hundred thousands)
$1.033
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$937,119
PROPERTIES FOR SALE
129
DAYS ON MARKET**
95
SHADOW INVENTORY
60
**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
May 2012 : Micro Market Report
Redondo Beach DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$665,500
$687,500
3.3%
Average Price per Square Foot ...........................
$463
$442
-4.5%
Properties Sold .......................................................
24
38
58.3%
Properties Pending Sale .......................................
28
33
17.9%
Properties For Sale ................................................
149
105
-29.5%
Days on Market (Pending Sale) ...........................
67
57
-14.9%
Month’s Supply of Inventory ................................
6.2
2.8
-55.5%
Percent Under Contract ........................................
18.8%
31.4%
67.2%
Average Median Price for Last 12 Months ........
$726,000
$707,085
-2.6%
*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
S A L E S
(in hundred thousands)
$688
$666
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$707,085
PROPERTIES FOR SALE
105
DAYS ON MARKET**
73
SHADOW INVENTORY
72
**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
May 2012 : Micro Market Report
Rolling Hil s DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$3,950,000
$3,300,000
-16.5%
Average Price per Square Foot ...........................
$616
$541
-12.2%
Properties Sold .......................................................
3
1
-66.7%
Properties Pending Sale .......................................
2
2
0.0%
Properties For Sale ................................................
23
20
-13.0%
Days on Market (Pending Sale) ...........................
194
143
-26.3%
Month’s Supply of Inventory ................................
7.7
20.0
160.9%
Percent Under Contract ........................................
8.7%
10.0%
15.0%
Average Median Price for Last 12 Months ........
$2,794,000
$2,946,818
5.5%
*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
$3.300
S A L E S
$3.950
(in hundred thousands)
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$2,946,818
PROPERTIES FOR SALE
20
DAYS ON MARKET**
124
SHADOW INVENTORY
18
**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
May 2012 : Micro Market Report
Rolling Hil s Estates DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$1,325,000
$875,000
-34.0%
Average Price per Square Foot ...........................
$542
$408
-24.7%
Properties Sold .......................................................
6
9
50.0%
Properties Pending Sale .......................................
3
13
333.3%
Properties For Sale ................................................
39
38
-2.6%
Days on Market (Pending Sale) ...........................
46
46
0.0%
Month’s Supply of Inventory ................................
6.5
4.2
-35.0%
Percent Under Contract ........................................
7.7%
34.2%
344.7%
Average Median Price for Last 12 Months ........
$1,195,000
$1,090,081
-8.8%
*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
$875
S A L E S
$1.325
(in hundred thousands)
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$1,090,081
PROPERTIES FOR SALE
38
DAYS ON MARKET**
78
SHADOW INVENTORY
8
**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
May 2012 : Micro Market Report
San Pedro DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$459,500
$400,000
-12.9%
Average Price per Square Foot ...........................
$304
$278
-8.6%
Properties Sold .......................................................
24
23
-4.2%
Properties Pending Sale .......................................
21
38
81.0%
Properties For Sale ................................................
177
105
-40.7%
Days on Market (Pending Sale) ...........................
71
59
-16.9%
Month’s Supply of Inventory ................................
7.4
4.6
-38.1%
Percent Under Contract ........................................
11.9%
36.2%
205.0%
Average Median Price for Last 12 Months ........
$458,000
$412,000
-10.0%
*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
$400
S A L E S
$460
(in hundred thousands)
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$412,000
PROPERTIES FOR SALE
105
DAYS ON MARKET**
90
SHADOW INVENTORY
129
**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
May 2012 : Micro Market Report
Torrance DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$480,000
$539,000
12.3%
Average Price per Square Foot ...........................
$347
$327
-5.8%
Properties Sold .......................................................
25
72
188.0%
Properties Pending Sale .......................................
45
88
95.6%
Properties For Sale ................................................
214
218
1.9%
Days on Market (Pending Sale) ...........................
53
41
-22.6%
Month’s Supply of Inventory ................................
8.6
3.0
-64.6%
Percent Under Contract ........................................
21.0%
40.4%
92.0%
Average Median Price for Last 12 Months ........
$578,000
$522,077
-9.7%
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)
$539 $480
P R I C E
yearly trend
MAY
JUN
JUL
AUG
Micro Market Report : May 2012
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
telesintelligence.com
the numbers median sales price**
$522,077
PROPERTIES FOR SALE
218
DAYS ON MARKET**
64
SHADOW INVENTORY
280
**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
May 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:
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Phone:
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Teles intelligence MAY 2012 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.