Teles intelligence
micro market report condominiums May 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 : May 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Venice
Westwood - Century City
West Hollywood West LA
May 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$490,500
$497,500
1.4%
Average Price per Square Foot ...........................
$352
$488
38.6%
Properties Sold .......................................................
8
4
-50.0%
Properties Pending Sale .......................................
8
6
-25.0%
Properties For Sale ................................................
34
26
-23.5%
Days on Market (Pending Sale) ...........................
50
26
-48.0%
Month’s Supply of Inventory ................................
4.2
6.5
52.9%
Percent Under Contract ........................................
23.5%
23.1%
-1.9%
Average Median Price for Last 12 Months ........
$462,000
$522,735
13.1%
*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)
$497
$490
P R I C E
yearly trend
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$522,735
PROPERTIES FOR SALE
26
DAYS ON MARKET**
38
shadow inventory
4
(90048 Zip Code)
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Beverly Hills DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$1,030,000
$968,000
-6.0%
Average Price per Square Foot ...........................
$791
$835
5.6%
Properties Sold .......................................................
14
13
-7.1%
Properties Pending Sale .......................................
13
10
-23.1%
Properties For Sale ................................................
79
43
-45.6%
Days on Market (Pending Sale) ...........................
123
77
-37.4%
Month’s Supply of Inventory ................................
5.6
3.3
-41.4%
Percent Under Contract ........................................
16.5%
23.3%
41.3%
Average Median Price for Last 12 Months ........
$962,000
$884,853
-8.0%
*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.
$1.030
M E D I A N
S A L E S
(in hundred thousands)
$968
P R I C E
yearly trend
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$884,853
PROPERTIES FOR SALE
43
DAYS ON MARKET**
95
shadow inventory
13
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Brentwood DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$608,250
$639,950
5.2%
Average Price per Square Foot ...........................
$399
$521
30.6%
Properties Sold .......................................................
16
22
37.5%
Properties Pending Sale .......................................
20
25
25.0%
Properties For Sale ................................................
92
84
-8.7%
Days on Market (Pending Sale) ...........................
36
35
-2.8%
Month’s Supply of Inventory ................................
5.8
3.8
-33.6%
Percent Under Contract ........................................
21.7%
29.8%
36.9%
Average Median Price for Last 12 Months ........
$619,000
$671,683
8.5%
*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
(in hundred thousands)
$639
$608
P R I C E
yearly trend
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$671,683
PROPERTIES FOR SALE
84
DAYS ON MARKET**
60
shadow inventory
6
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Culver City DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$319,000
$385,000
20.7%
Average Price per Square Foot ...........................
$280
$357
27.5%
Properties Sold .......................................................
21
17
-19.0%
Properties Pending Sale .......................................
13
27
107.7%
Properties For Sale ................................................
41
42
2.4%
Days on Market (Pending Sale) ...........................
85
21
-75.3%
Month’s Supply of Inventory ................................
2
2.5
26.5%
Percent Under Contract ........................................
31.7%
64.3%
102.7%
Average Median Price for Last 12 Months ........
$283,000
$328,685
16.1%
*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.
(in hundred thousands)
$385
P R I C E
yearly trend
M E D I A N
S A L E S
$319
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$328,685
PROPERTIES FOR SALE
42
DAYS ON MARKET**
52
shadow inventory
37
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Encino DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$163,000
$266,000
63.2%
Average Price per Square Foot ...........................
$196
$247
26.0%
Properties Sold .......................................................
12
24
100.0%
Properties Pending Sale .......................................
22
18
-18.2%
Properties For Sale ................................................
23
21
-8.7%
Days on Market (Pending Sale) ...........................
70
45
-35.7%
Month’s Supply of Inventory ................................
1.9
0.9
-54.3%
Percent Under Contract ........................................
95.7%
85.7%
-10.4%
Average Median Price for Last 12 Months ........
$193,385
$229,923
18.9%
*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.
S A L E S
(in hundred thousands)
$266
P R I C E
yearly trend
M E D I A N
$163
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$229,923
PROPERTIES FOR SALE
21
DAYS ON MARKET**
63
shadow inventory
36
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Marina Del Rey DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$534,500
$733,750
37.3%
Average Price per Square Foot ...........................
$361
$511
41.6%
Properties Sold .......................................................
22
28
27.3%
Properties Pending Sale .......................................
35
27
-22.9%
Properties For Sale ................................................
187
136
-27.3%
Days on Market (Pending Sale) ...........................
77
70
-9.1%
Month’s Supply of Inventory ................................
8.5
4.9
-42.9%
Percent Under Contract ........................................
18.7%
19.9%
6.1%
Average Median Price for Last 12 Months ........
$559,000
$624,250
11.7%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
(in hundred thousands)
$733
P R I C E
yearly trend
M E D I A N
S A L E S
$534
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$624,250
PROPERTIES FOR SALE
136
DAYS ON MARKET**
71
shadow inventory
17
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Santa Monica DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$853,000
$780,000
-8.6%
Average Price per Square Foot ...........................
$706
$721
2.1%
Properties Sold .......................................................
32
41
28.1%
Properties Pending Sale .......................................
41
30
-26.8%
Properties For Sale ................................................
157
88
-43.9%
Days on Market (Pending Sale) ...........................
91
37
-59.3%
Month’s Supply of Inventory ................................
4.9
2.1
-56.3%
Percent Under Contract ........................................
26.1%
34.1%
30.5%
Average Median Price for Last 12 Months ........
$722,000
$723,092
0.2%
*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.
$853
M E D I A N
S A L E S
(in hundred thousands)
$780
P R I C E
yearly trend
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$723,092
PROPERTIES FOR SALE
88
DAYS ON MARKET**
64
shadow inventory
30
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Sherman Oaks DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$249,000
$340,000
36.5%
Average Price per Square Foot ...........................
$214
$288
34.6%
Properties Sold .......................................................
20
23
15.0%
Properties Pending Sale .......................................
25
23
-8.0%
Properties For Sale ................................................
33
17
-48.5%
Days on Market (Pending Sale) ...........................
96
56
-41.7%
Month’s Supply of Inventory ................................
1.6
0.7
-55.2%
Percent Under Contract ........................................
75.8%
135.3%
78.6%
Average Median Price for Last 12 Months ........
$298,462
$307,077
2.9%
*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.
(in hundred thousands)
$340
P R I C E
yearly trend
M E D I A N
S A L E S
$249
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$307,077
PROPERTIES FOR SALE
17
DAYS ON MARKET**
72
shadow inventory
30
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Studio City DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$392,000
$516,000
31.6%
Average Price per Square Foot ...........................
$304
$353
16.1%
Properties Sold .......................................................
8
17
112.5%
Properties Pending Sale .......................................
3
23
666.7%
Properties For Sale ................................................
17
17
0.0%
Days on Market (Pending Sale) ...........................
133
37
-72.2%
Month’s Supply of Inventory ................................
2.1
1
-52.9%
Percent Under Contract ........................................
17.6%
135.3%
666.7%
Average Median Price for Last 12 Months ........
$406,615
$420,308
3.4%
*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.
$516
M E D I A N
S A L E S
(in hundred thousands)
$392
P R I C E
yearly trend
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$420,308
PROPERTIES FOR SALE
17
DAYS ON MARKET**
82
shadow inventory
18
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Venice DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$995,000
$1,160,000
16.6%
Average Price per Square Foot ...........................
$566
$670
18.4%
Properties Sold .......................................................
4
13
225.0%
Properties Pending Sale .......................................
4
6
50.0%
Properties For Sale ................................................
25
18
-28.0%
Days on Market (Pending Sale) ...........................
68
26
-61.8%
Month’s Supply of Inventory ................................
6.2
1.4
-77.8%
Percent Under Contract ........................................
16.0%
33.3%
108.3%
Average Median Price for Last 12 Months ........
$0
$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.
M E D I A N
$995
S A L E S
$1.160
(in hundred thousands)
P R I C E
yearly trend
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$2
PROPERTIES FOR SALE
18
DAYS ON MARKET**
shadow inventory
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
West Hollywood DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$395,000
$494,500
25.2%
Average Price per Square Foot ...........................
$432
$505
16.9%
Properties Sold .......................................................
32
28
-12.5%
Properties Pending Sale .......................................
34
38
11.8%
Properties For Sale ................................................
146
127
-13.0%
Days on Market (Pending Sale) ...........................
100
32
-68.0%
Month’s Supply of Inventory ................................
4.6
4.5
-0.6%
Percent Under Contract ........................................
23.3%
29.9%
28.5%
Average Median Price for Last 12 Months ........
$440,000
$475,939
8.2%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
S A L E S
(in hundred thousands)
$494
P R I C E
yearly trend
M E D I A N
$395
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$475,939
PROPERTIES FOR SALE
127
DAYS ON MARKET**
58
shadow inventory
29
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
West LA DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$525,000
$680,000
29.5%
Average Price per Square Foot ...........................
$371
$417
12.4%
Properties Sold .......................................................
15
17
13.3%
Properties Pending Sale .......................................
10
11
10.0%
Properties For Sale ................................................
80
41
-48.8%
Days on Market (Pending Sale) ...........................
52
21
-59.6%
Month’s Supply of Inventory ................................
5.3
2.4
-54.8%
Percent Under Contract ........................................
12.5%
26.8%
114.6%
Average Median Price for Last 12 Months ........
$498,000
$584,987
17.5%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
(in hundred thousands)
$680
P R I C E
yearly trend
M E D I A N
S A L E S
$525
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$584,987
PROPERTIES FOR SALE
41
DAYS ON MARKET**
59
shadow inventory
21
(90025 Zip Code)
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 2013 : Micro Market Report
Westwood - Century City DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$517,500
$706,950
36.6%
Average Price per Square Foot ...........................
$435
$535
23.0%
Properties Sold .......................................................
49
40
-18.4%
Properties Pending Sale .......................................
33
48
45.5%
Properties For Sale ................................................
299
274
-8.4%
Days on Market (Pending Sale) ...........................
103
33
-68.0%
Month’s Supply of Inventory ................................
6.1
6.8
12.3%
Percent Under Contract ........................................
11.0%
17.5%
58.7%
Average Median Price for Last 12 Months ........
$580,000
$631,881
8.9%
*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.
(in hundred thousands)
$706
P R I C E
yearly trend
M E D I A N
S A L E S
$517
May
Jun
Jul
Aug
Micro Market Report : May 2013
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
telesintelligence.com
the numbers median sales price**
$631,881
PROPERTIES FOR SALE
274
DAYS ON MARKET**
84
shadow inventory
30
(90024,90067 Zip Code)
**12 month average
active listings
s h a do w i n v e n t o r y
Teles intelligence where data meets reason
May 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 May 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.