Teles intelligence
micro market report san fernando valley 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.
san fernando
san gab
los ang
San Fernando Macro Market
Glendale
Shadow Hills
Burbank
La Crescenta
Sherman Oaks
Encino
North Hollywood
Studio City
Micro Market Report : May 2012
telesintelligence.com
briel
south bay
geles
orange county Sun Valley
Valley Village
Sunland - Tujunga
Woodland Hills
Toluca Lake
May 2012 : Micro Market Report
San Fernando Macro Market DATA *
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$550,000
$582,538
5.9%
Average Price per Square Foot ...........................
$282
$362
28.3%
Properties Sold .......................................................
400
432
8.0%
Properties Pending Sale .......................................
441
595
34.9%
Properties For Sale ................................................
1878
914
-51.3%
Days on Market (Pending Sale) ...........................
79
75
-5.5%
Month’s Supply of Inventory ................................
4.7
2.1
-54.9%
Percent Under Contract ........................................
23.5%
65.1%
177.2%
Average Median Price for Last 12 Months ........
$606,475
$541,850
-10.7%
*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.
$550
M E D I A N
S A L E S
(in hundred thousands)
$582
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
Burbank DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$505,000
$478,000
-5.3%
Average Price per Square Foot ...........................
$301
$331
10.0%
Properties Sold .......................................................
39
57
46.2%
Properties Pending Sale .......................................
56
75
33.9%
Properties For Sale ................................................
188
78
-58.5%
Days on Market (Pending Sale) ...........................
93
74
-20.4%
Month’s Supply of Inventory ................................
4.8
1.4
-71.6%
Percent Under Contract ........................................
29.8%
96.2%
222.8%
Average Median Price for Last 12 Months ........
$523,308
$484,538
-7.4%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. 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)
$478
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**
$484,538
PROPERTIES FOR SALE
78
DAYS ON MARKET**
66
SHADOW INVENTORY
298
**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
Encino DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$684,000
$952,000
39.2%
Average Price per Square Foot ...........................
$327
$1,022
212.5%
Properties Sold .......................................................
28
38
35.7%
Properties Pending Sale .......................................
40
48
20.0%
Properties For Sale ................................................
183
78
-57.4%
Days on Market (Pending Sale) ...........................
81
70
-13.6%
Month’s Supply of Inventory ................................
6.5
2.1
-68.6%
Percent Under Contract ........................................
21.9%
61.5%
181.5%
Average Median Price for Last 12 Months ........
$743,154
$798,923
7.5%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
(in hundred thousands)
$952
P R I C E
yearly trend
M E D I A N
S A L E S
$684
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**
$798,923
PROPERTIES FOR SALE
78
DAYS ON MARKET**
80
SHADOW INVENTORY
176
**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
Glendale DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$460,000
$557,000
21.1%
Average Price per Square Foot ...........................
$266
$340
27.8%
Properties Sold .......................................................
83
59
-28.9%
Properties Pending Sale .......................................
61
83
36.1%
Properties For Sale ................................................
246
131
-46.7%
Days on Market (Pending Sale) ...........................
91
64
-29.7%
Month’s Supply of Inventory ................................
3.0
2.2
-25.1%
Percent Under Contract ........................................
24.8%
63.4%
155.5%
Average Median Price for Last 12 Months ........
$613,769
$562,077
-8.4%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
(in hundred thousands)
$557
P R I C E
yearly trend
M E D I A N
S A L E S
$460
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**
$562,077
PROPERTIES FOR SALE
131
DAYS ON MARKET**
77
SHADOW INVENTORY
338
**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
La Crescenta DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$670,000
$562,000
-16.1%
Average Price per Square Foot ...........................
$307
$329
7.2%
Properties Sold .......................................................
12
22
83.3%
Properties Pending Sale .......................................
11
18
63.6%
Properties For Sale ................................................
84
29
-65.5%
Days on Market (Pending Sale) ...........................
132
75
-43.2%
Month’s Supply of Inventory ................................
7.0
1.3
-81.2%
Percent Under Contract ........................................
13.1%
62.1%
374.0%
Average Median Price for Last 12 Months ........
$587,077
$556,154
-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.
$670
M E D I A N
S A L E S
(in hundred thousands)
$562
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**
$556,154
PROPERTIES FOR SALE
29
DAYS ON MARKET**
93
SHADOW INVENTORY
98
**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
North Hollywood DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$312,000
$270,000
-13.5%
Average Price per Square Foot ...........................
$238
$219
-8.0%
Properties Sold .......................................................
54
28
-48.1%
Properties Pending Sale .......................................
46
65
41.3%
Properties For Sale ................................................
202
75
-62.9%
Days on Market (Pending Sale) ...........................
75
72
-4.0%
Month’s Supply of Inventory ................................
3.7
2.7
-28.4%
Percent Under Contract ........................................
22.8%
86.7%
280.6%
Average Median Price for Last 12 Months ........
$320,000
$300,231
-6.2%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$312
M E D I A N
S A L E S
(in hundred thousands)
$270
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**
$300,231
PROPERTIES FOR SALE
75
DAYS ON MARKET**
75
SHADOW INVENTORY
401
**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
Shadow Hil s DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$830,000
$762,000
-8.2%
Average Price per Square Foot ...........................
$198
$310
56.6%
Properties Sold .......................................................
1
4
300.0%
Properties Pending Sale .......................................
4
5
25.0%
Properties For Sale ................................................
20
12
-40.0%
Days on Market (Pending Sale) ...........................
32
72
125.0%
Month’s Supply of Inventory ................................
20.0
3.0
-85.0%
Percent Under Contract ........................................
20.0%
41.7%
108.3%
Average Median Price for Last 12 Months ........
$1,048,909
$563,333
-46.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. 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)
$762
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**
$563,333
PROPERTIES FOR SALE
12
DAYS ON MARKET**
87
SHADOW INVENTORY
2
**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
Sherman Oaks DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$649,000
$695,000
7.1%
Average Price per Square Foot ...........................
$324
$344
6.2%
Properties Sold .......................................................
42
40
-4.8%
Properties Pending Sale .......................................
55
61
10.9%
Properties For Sale ................................................
206
137
-33.5%
Days on Market (Pending Sale) ...........................
53
71
34.0%
Month’s Supply of Inventory ................................
4.9
3.4
-30.2%
Percent Under Contract ........................................
26.7%
44.5%
66.8%
Average Median Price for Last 12 Months ........
$695,538
$660,692
-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.
$695
M E D I A N
S A L E S
(in hundred thousands)
$649
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**
$660,692
PROPERTIES FOR SALE
137
DAYS ON MARKET**
70
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
Studio City DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$745,000
$908,000
21.9%
Average Price per Square Foot ...........................
$384
$404
5.2%
Properties Sold .......................................................
29
23
-20.7%
Properties Pending Sale .......................................
33
34
3.0%
Properties For Sale ................................................
115
68
-40.9%
Days on Market (Pending Sale) ...........................
66
52
-21.2%
Month’s Supply of Inventory ................................
4.0
3.0
-25.4%
Percent Under Contract ........................................
28.7%
50.0%
74.2%
Average Median Price for Last 12 Months ........
$806,000
$810,077
0.5%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$908
M E D I A N
S A L E S
(in hundred thousands)
$745
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**
$810,077
PROPERTIES FOR SALE
68
DAYS ON MARKET**
69
SHADOW INVENTORY
64
**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
Sun Valley DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$260,000
$268,000
3.1%
Average Price per Square Foot ...........................
$184
$196
6.5%
Properties Sold .......................................................
17
28
64.7%
Properties Pending Sale .......................................
21
33
57.1%
Properties For Sale ................................................
116
30
-74.1%
Days on Market (Pending Sale) ...........................
78
91
16.7%
Month’s Supply of Inventory ................................
6.8
1.1
-84.3%
Percent Under Contract ........................................
18.1%
110.0%
507.6%
Average Median Price for Last 12 Months ........
$273,077
$260,923
-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.
$268
M E D I A N
S A L E S
(in hundred thousands)
$260
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**
$260,923
PROPERTIES FOR SALE
30
DAYS ON MARKET**
77
SHADOW INVENTORY
181
**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
Sunland - Tujunga DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$285,000
$330,000
15.8%
Average Price per Square Foot ...........................
$216
$223
3.2%
Properties Sold .......................................................
33
35
6.1%
Properties Pending Sale .......................................
39
56
43.6%
Properties For Sale ................................................
194
75
-61.3%
Days on Market (Pending Sale) ...........................
100
78
-22.0%
Month’s Supply of Inventory ................................
5.9
2.1
-63.5%
Percent Under Contract ........................................
20.1%
74.7%
271.4%
Average Median Price for Last 12 Months ........
$349,231
$314,769
-9.9%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
(in hundred thousands)
$330
P R I C E
yearly trend
M E D I A N
S A L E S
$385
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**
$314,769
PROPERTIES FOR SALE
75
DAYS ON MARKET**
81
SHADOW INVENTORY
265
**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
Toluca Lake DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$754,000
$711,000
-5.7%
Average Price per Square Foot ...........................
$363
$420
15.7%
Properties Sold .......................................................
4
7
75.0%
Properties Pending Sale .......................................
9
14
55.6%
Properties For Sale ................................................
39
25
-35.9%
Days on Market (Pending Sale) ...........................
156
108
-30.8%
Month’s Supply of Inventory ................................
9.8
3.6
-63.4%
Percent Under Contract ........................................
23.1%
56.0%
142.7%
Average Median Price for Last 12 Months ........
$816,846
$708,917
-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.
M E D I A N
$711
S A L E S
$754
(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**
$708,917
PROPERTIES FOR SALE
25
DAYS ON MARKET**
89
SHADOW INVENTORY
9
**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
Valley Vil age DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$478,000
$600,000
25.5%
Average Price per Square Foot ...........................
$303
$317
4.6%
Properties Sold .......................................................
6
26
333.3%
Properties Pending Sale .......................................
10
20
100.0%
Properties For Sale ................................................
43
35
-18.6%
Days on Market (Pending Sale) ...........................
24
70
191.7%
Month’s Supply of Inventory ................................
7.2
1.3
-81.2%
Percent Under Contract ........................................
23.3%
57.1%
145.7%
Average Median Price for Last 12 Months ........
$594,769
$529,615
-11.0%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$600
M E D I A N
S A L E S
(in hundred thousands)
$478
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**
$529,615
PROPERTIES FOR SALE
35
DAYS ON MARKET**
55
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
Woodland Hil s DATA
MAY 2011
MAY 2012
% CHANGE
Median Price ..........................................................
$518,000
$480,000
-7.3%
Average Price per Square Foot ...........................
$254
$249
-2.0%
Properties Sold .......................................................
52
65
25.0%
Properties Pending Sale .......................................
56
83
48.2%
Properties For Sale ................................................
242
141
-41.7%
Days on Market (Pending Sale) ...........................
50
77
54.0%
Month’s Supply of Inventory ................................
4.7
2.2
-53.4%
Percent Under Contract ........................................
23.1%
58.9%
154.4%
Average Median Price for Last 12 Months ........
$512,500
$512,769
0.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$518
M E D I A N
S A L E S
(in hundred thousands)
$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**
$512,769
PROPERTIES FOR SALE
141
DAYS ON MARKET**
72
SHADOW INVENTORY
333
**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:
Teles Intelligence 11990 San Vicente Blvd, Suite 100 Los Angeles, Ca 90049
Phone:
424.203.1800 email:
info@telesintelligence.com
Teles intelligence MAY 2012 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.