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micro market report south bay May 2013 | 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 2013
telesintelligence.com
geles
orange county
nando
san gabriel Rolling Hills Estates
Torrance
San Pedro
May 2013 : Micro Market Report
South Bay DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$1,081,333
$1,119,167
3.5%
Average Price per Square Foot ...........................
$411
$445
8.3%
Properties Sold .......................................................
216
219
1.4%
Properties Pending Sale .......................................
193
236
22.3%
Properties For Sale ................................................
815
650
-20.2%
Days on Market (Pending Sale) ...........................
76
48
-36.8%
Month’s Supply of Inventory ................................
3.8
3
-21.3%
Percent Under Contract ........................................
23.7%
36.3%
53.3%
Average Median Price for Last 12 Months ........
$1,168,500
$1,221,518
4.5%
*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.
$1.119
M E D I A N
S A L E S
(in hundred thousands)
$1.081
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
Manhattan Beach DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$1,537,500
$2,100,000
36.6%
Average Price per Square Foot ...........................
$659
$714
8.3%
Properties Sold .......................................................
38
39
2.6%
Properties Pending Sale .......................................
34
29
-14.7%
Properties For Sale ................................................
117
87
-25.6%
Days on Market (Pending Sale) ...........................
60
30
-50.0%
Month’s Supply of Inventory ................................
3.1
2.2
-27.5%
Percent Under Contract ........................................
29.1%
33.3%
14.7%
Average Median Price for Last 12 Months ........
$1,446,000
$1,588,869
9.9%
*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)
$2.100
P R I C E
yearly trend
M E D I A N
S A L E S
$1.537
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**
$1,588,869
PROPERTIES FOR SALE
87
DAYS ON MARKET**
54
shadow inventory
7
**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
Palos Verdes Estates DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$1,425,000
$1,600,000
12.3%
Average Price per Square Foot ...........................
$583
$560
-3.9%
Properties Sold .......................................................
17
15
-11.8%
Properties Pending Sale .......................................
15
16
6.7%
Properties For Sale ................................................
71
70
-1.4%
Days on Market (Pending Sale) ...........................
81
37
-54.3%
Month’s Supply of Inventory ................................
4.2
4.7
11.7%
Percent Under Contract ........................................
21.1%
22.9%
8.2%
Average Median Price for Last 12 Months ........
$1,380,000
$1,587,387
15.0%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
(in hundred thousands)
$1.600
$1.425
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**
$1,587,387
PROPERTIES FOR SALE
70
DAYS ON MARKET**
77
shadow inventory
15
**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
Rancho Palos Verdes DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$915,000
$1,085,000
18.6%
Average Price per Square Foot ...........................
$460
$478
3.9%
Properties Sold .......................................................
27
29
7.4%
Properties Pending Sale .......................................
22
40
81.8%
Properties For Sale ................................................
152
112
-26.3%
Days on Market (Pending Sale) ...........................
66
60
-9.1%
Month’s Supply of Inventory ................................
5.6
3.9
-31.4%
Percent Under Contract ........................................
14.5%
35.7%
146.8%
Average Median Price for Last 12 Months ........
$920,000
$984,038
7.0%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
$1.085
M E D I A N
S A L E S
(in hundred thousands)
$915
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**
$984,038
PROPERTIES FOR SALE
112
DAYS ON MARKET**
75
shadow inventory
43
**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
Redondo Beach DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$674,000
$845,000
25.4%
Average Price per Square Foot ...........................
$440
$495
12.5%
Properties Sold .......................................................
43
35
-18.6%
Properties Pending Sale .......................................
27
44
63.0%
Properties For Sale ................................................
108
100
-7.4%
Days on Market (Pending Sale) ...........................
101
30
-70.3%
Month’s Supply of Inventory ................................
2.5
2.9
13.8%
Percent Under Contract ........................................
25.0%
44.0%
76.0%
Average Median Price for Last 12 Months ........
$697,000
$778,800
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)
$845
P R I C E
yearly trend
M E D I A N
S A L E S
$674
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**
$778,800
PROPERTIES FOR SALE
100
DAYS ON MARKET**
50
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
Rolling Hills DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$3,300,000
$2,100,000
-36.4%
Average Price per Square Foot ...........................
$541
$614
13.5%
Properties Sold .......................................................
1
5
400.0%
Properties Pending Sale .......................................
0.5
Properties For Sale ................................................
21
20
-4.8%
Days on Market (Pending Sale) ...........................
172
175
1.7%
Month’s Supply of Inventory ................................
-0.8
20
%
Percent Under Contract ........................................
9.5%
15.0%
57.5%
Average Median Price for Last 12 Months ........
$2,883,000
$2,534,700
-12.1%
%
*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
$2.100
S A L E S
$3.300
(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**
$2,534,700
PROPERTIES FOR SALE
20
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
Rolling Hills Estates DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$977,500
$1,187,500
21.5%
Average Price per Square Foot ...........................
$414
$477
15.2%
Properties Sold .......................................................
10
10
0.0%
Properties Pending Sale .......................................
12
6
-50.0%
Properties For Sale ................................................
37
26
-29.7%
Days on Market (Pending Sale) ...........................
61
43
-29.5%
Month’s Supply of Inventory ................................
3.7
2.6
-29.7%
Percent Under Contract ........................................
32.4%
23.1%
-28.8%
Average Median Price for Last 12 Months ........
$1,105,000
$1,275,135
15.4%
*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.
M E D I A N
$977
S A L E S
$1.187
(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**
$1,275,135
PROPERTIES FOR SALE
26
DAYS ON MARKET**
59
shadow inventory
1
**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
San Pedro DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$372,500
$505,000
35.6%
Average Price per Square Foot ...........................
$281
$289
2.8%
Properties Sold .......................................................
28
33
17.9%
Properties Pending Sale .......................................
29
46
58.6%
Properties For Sale ................................................
147
118
-19.7%
Days on Market (Pending Sale) ...........................
88
37
-58.0%
Month’s Supply of Inventory ................................
5.2
3.6
-31.9%
Percent Under Contract ........................................
19.7%
39.0%
97.6%
Average Median Price for Last 12 Months ........
$395,000
$449,597
13.8%
*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)
$505
P R I C E
yearly trend
M E D I A N
S A L E S
$372
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**
$449,597
PROPERTIES FOR SALE
118
DAYS ON MARKET**
70
shadow inventory
75
**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
Torrance DATA*
May 2012
May 2013
% CHANGE
Median Price ..........................................................
$530,500
$650,000
22.5%
Average Price per Square Foot ...........................
$323
$380
17.6%
Properties Sold .......................................................
52
53
1.9%
Properties Pending Sale .......................................
52
52
0.0%
Properties For Sale ................................................
162
117
-27.8%
Days on Market (Pending Sale) ...........................
58
22
-62.1%
Month’s Supply of Inventory ................................
3.1
2.2
-29.1%
Percent Under Contract ........................................
32.1%
44.4%
38.5%
Average Median Price for Last 12 Months ........
$522,000
$573,615
9.9%
*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.
$650
M E D I A N
S A L E S
(in hundred thousands)
$530
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**
$573,615
PROPERTIES FOR SALE
117
DAYS ON MARKET**
48
shadow inventory
89
**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:
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Phone:
424.203.1800 email:
info@telesintelligence.com
Teles intelligence May 2013 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.