Teles intelligence
micro market report south bay NOVEMBER 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 : November 2012
telesintelligence.com
geles
orange county
nando
san gabriel Rolling Hills Estates
Torrance
San Pedro
November 2012 : Micro Market Report
South Bay Macro Market DATA *
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$1,137,611
$901,389
-20.8%
Average Price per Square Foot ...........................
$427
$410
-3.9%
Properties Sold .......................................................
143
162
13.3%
Properties Pending Sale .......................................
136
159
16.9%
Properties For Sale ................................................
855
481
-43.7%
Days on Market (Pending Sale) ...........................
117
52
-55.5%
Month’s Supply of Inventory ................................
6.0
3.0
-50.3%
Percent Under Contract ........................................
15.9%
33.1%
107.8%
Average Median Price for Last 12 Months ........
$1,182,500
$1,213,567
2.6%
*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
$901
S A L E S
$1.138
(in hundred thousands)
P R I C E
yearly trend
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
Manhattan Beach DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$1,399,000
$1,262,500
-9.8%
Average Price per Square Foot ...........................
$597
$689
15.4%
Properties Sold .......................................................
19
36
89.5%
Properties Pending Sale .......................................
14
22
57.1%
Properties For Sale ................................................
107
62
-42.1%
Days on Market (Pending Sale) ...........................
66
44
-33.3%
Month’s Supply of Inventory ................................
5.6
1.7
-69.4%
Percent Under Contract ........................................
13.1%
35.5%
171.2%
Average Median Price for Last 12 Months ........
$1,459,000
$1,535,077
5.2%
*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
$1.263
S A L E S
$1.399
(in hundred thousands)
P R I C E
yearly trend
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
the numbers median sales price**
$1,535,077 PROPERTIES FOR SALE
62 DAYS ON MARKET**
66 shadow inventory
23 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : Micro Market Report
Palos Verdes DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$960,000
$1,735,000
80.7%
Average Price per Square Foot ...........................
$449
$595
32.5%
Properties Sold .......................................................
13
11
-15.4%
Properties Pending Sale .......................................
13
12
-7.7%
Properties For Sale ................................................
88
54
-38.6%
Days on Market (Pending Sale) ...........................
155
58
-62.6%
Month’s Supply of Inventory ................................
6.8
4.9
-27.5%
Percent Under Contract ........................................
14.8%
22.2%
50.4%
Average Median Price for Last 12 Months ........
$1,383,000
$1,478,846
6.9%
*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)
$1.735
P R I C E
yearly trend
M E D I A N
$960
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
the numbers median sales price**
$1,478,846 PROPERTIES FOR SALE
54 DAYS ON MARKET**
100 shadow inventory
13 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : Micro Market Report
Rancho Palos Verdes DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$902,000
$927,500
2.8%
Average Price per Square Foot ...........................
$376
$444
18.1%
Properties Sold .......................................................
27
30
11.1%
Properties Pending Sale .......................................
23
33
43.5%
Properties For Sale ................................................
162
109
-32.7%
Days on Market (Pending Sale) ...........................
124
42
-66.1%
Month’s Supply of Inventory ................................
6.0
3.6
-39.4%
Percent Under Contract ........................................
14.2%
30.3%
113.2%
Average Median Price for Last 12 Months ........
$933,000
$951,615
2.0%
*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.
$930
M E D I A N
S A L E S
(in hundred thousands)
$902
P R I C E
yearly trend
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
the numbers median sales price**
$951,615 PROPERTIES FOR SALE
109 DAYS ON MARKET**
90 shadow inventory
71 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : Micro Market Report
Redondo Beach DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$692,500
$772,500
11.6%
Average Price per Square Foot ...........................
$463
$476
2.8%
Properties Sold .......................................................
22
25
13.6%
Properties Pending Sale .......................................
23
19
-17.4%
Properties For Sale ................................................
114
50
-56.1%
Days on Market (Pending Sale) ...........................
70
34
-51.4%
Month’s Supply of Inventory ................................
5.2
2.0
-61.4%
Percent Under Contract ........................................
20.2%
38.0%
88.3%
Average Median Price for Last 12 Months ........
$702,000
$735,305
4.7%
*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.
$773
M E D I A N
S A L E S
(in hundred thousands)
$693
P R I C E
yearly trend
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
the numbers median sales price**
$735,305 PROPERTIES FOR SALE
50 DAYS ON MARKET**
66 shadow inventory
60 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : Micro Market Report
Rolling Hills DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$3,715,000
$1,065,000
-71.3%
Average Price per Square Foot ...........................
$917
$383
-58.2%
Properties Sold .......................................................
2
1
-50.0%
Properties Pending Sale .......................................
2
2
0.0%
Properties For Sale ................................................
23
23
0.0%
Days on Market (Pending Sale) ...........................
271
63
-76.8%
Month’s Supply of Inventory ................................
11.5
23.0
100.0%
Percent Under Contract ........................................
8.7%
8.7%
0.0%
Average Median Price for Last 12 Months ........
$2,830,000
$2,859,091
1.0%
*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.
S A L E S
$1.065
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
M E D I A N
$3.715
NOV
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$2,859,091 PROPERTIES FOR SALE
23 DAYS ON MARKET**
106 shadow inventory
21 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : Micro Market Report
Rolling Hills Estates DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$1,600,000
$1,240,000
-22.5%
Average Price per Square Foot ...........................
$413
$485
17.4%
Properties Sold .......................................................
2
5
150.0%
Properties Pending Sale .......................................
4
11
175.0%
Properties For Sale ................................................
40
28
-30.0%
Days on Market (Pending Sale) ...........................
120
51
-57.5%
Month’s Supply of Inventory ................................
20.0
5.6
-72.0%
Percent Under Contract ........................................
10.0%
39.3%
292.9%
Average Median Price for Last 12 Months ........
$1,173,000
$1,168,696
-0.4%
*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
$1.240
S A L E S
$1.600
(in hundred thousands)
P R I C E
yearly trend
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
the numbers median sales price**
$1,168,696 PROPERTIES FOR SALE
28 DAYS ON MARKET**
83 shadow inventory
9 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : Micro Market Report
San Pedro DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$445,000
$525,000
18.0%
Average Price per Square Foot ...........................
$270
$255
-5.6%
Properties Sold .......................................................
17
16
-5.9%
Properties Pending Sale .......................................
20
22
10.0%
Properties For Sale ................................................
141
75
-46.8%
Days on Market (Pending Sale) ...........................
138
131
-5.1%
Month’s Supply of Inventory ................................
8.3
4.7
-43.5%
Percent Under Contract ........................................
14.2%
29.3%
106.8%
Average Median Price for Last 12 Months ........
$436,000
$433,793
-0.5%
*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.
$525
M E D I A N
S A L E S
(in hundred thousands)
$445
P R I C E
yearly trend
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
the numbers median sales price**
$433,793 PROPERTIES FOR SALE
75 DAYS ON MARKET**
91 shadow inventory
135 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : Micro Market Report
Torrance DATA*
NOV 2011
NOV 2012
% CHANGE
Median Price ..........................................................
$525,000
$585,000
11.4%
Average Price per Square Foot ...........................
$355
$365
2.8%
Properties Sold .......................................................
41
38
-7.3%
Properties Pending Sale .......................................
37
38
2.7%
Properties For Sale ................................................
180
80
-55.6%
Days on Market (Pending Sale) ...........................
107
45
-57.9%
Month’s Supply of Inventory ................................
4.4
2.1
-52.0%
Percent Under Contract ........................................
20.6%
47.5%
131.1%
Average Median Price for Last 12 Months ........
$544,000
$546,115
0.4%
*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
S A L E S
(in hundred thousands)
$585
$525
P R I C E
yearly trend
NOV
DEC
JAN
FEB
Micro Market Report : November 2012
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
telesintelligence.com
the numbers median sales price**
$546,115 PROPERTIES FOR SALE
80 DAYS ON MARKET**
62 shadow inventory
212 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2012 : 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:
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Teles intelligence NOVEMBER 2012 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.