Teles intelligence
micro market report condominiums November 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
Marina Del Rey
Beverly Hills
Encino
Santa Monica
Brentwood
Malibu
Sherman Oaks
Micro Market Report : November 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Studio City
West LA
Venice
Westwood - Century City
West Hollywood
November 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$580,000
$747,500
28.9%
Average Price per Square Foot ...........................
$401
$538
34.2%
Properties Sold .......................................................
7
12
71.4%
Properties Pending Sale .......................................
5
14
180.0%
Properties For Sale ................................................
32
37
15.6%
Days on Market (Pending Sale) ...........................
24
61
154.2%
Month’s Supply of Inventory ................................
4.6
3.1
-32.6%
Percent Under Contract ........................................
15.6%
37.8%
142.2%
Average Median Price for Last 12 Months ........
$520,000
$597,004
14.8%
*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)
$747
P R I C E
yearly trend
M E D I A N
S A L E S
$580
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$597,004
PROPERTIES FOR SALE
37
DAYS ON MARKET**
38
shadow inventory
6
(6.0)
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Beverly Hills DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$749,000
$905,000
20.8%
Average Price per Square Foot ...........................
$436
$573
31.4%
Properties Sold .......................................................
3
4
33.3%
Properties Pending Sale .......................................
6
8
33.3%
Properties For Sale ................................................
58
49
-15.5%
Days on Market (Pending Sale) ...........................
45
37
-17.8%
Month’s Supply of Inventory ................................
19.3
12.2
-36.6%
Percent Under Contract ........................................
10.3%
16.3%
57.8%
Average Median Price for Last 12 Months ........
$908,000
$863,558
-4.9%
*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)
$905
P R I C E
yearly trend
M E D I A N
S A L E S
$749
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$863,558
PROPERTIES FOR SALE
49
DAYS ON MARKET**
65
shadow inventory
13
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Brentwood DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$525,000
$600,000
14.3%
Average Price per Square Foot ...........................
$475
$441
-7.2%
Properties Sold .......................................................
13
9
-30.8%
Properties Pending Sale .......................................
12
15
25.0%
Properties For Sale ................................................
61
68
11.5%
Days on Market (Pending Sale) ...........................
74
33
-55.4%
Month’s Supply of Inventory ................................
4.7
7.6
61.0%
Percent Under Contract ........................................
19.7%
22.1%
12.1%
Average Median Price for Last 12 Months ........
$613,000
$684,560
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.
M E D I A N
S A L E S
$525
(in hundred thousands)
$600
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$684,560
PROPERTIES FOR SALE
68
DAYS ON MARKET**
49
shadow inventory
2
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Culver City DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$429,900
$466,500
8.5%
Average Price per Square Foot ...........................
$327
$369
12.8%
Properties Sold .......................................................
7
10
42.9%
Properties Pending Sale .......................................
16
10
-37.5%
Properties For Sale ................................................
39
34
-12.8%
Days on Market (Pending Sale) ...........................
53
22
-58.5%
Month’s Supply of Inventory ................................
5.6
3.4
-39.0%
Percent Under Contract ........................................
41.0%
29.4%
-28.3%
Average Median Price for Last 12 Months ........
$286,000
$385,074
34.6%
*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.
$466
M E D I A N
S A L E S
(in hundred thousands)
$429
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$385,074
PROPERTIES FOR SALE
34
DAYS ON MARKET**
34
shadow inventory
25
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Encino DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$238,000
$280,000
17.6%
Average Price per Square Foot ...........................
$198
$229
15.7%
Properties Sold .......................................................
11
7
-36.4%
Properties Pending Sale .......................................
12
13
8.3%
Properties For Sale ................................................
13
37
184.6%
Days on Market (Pending Sale) ...........................
40
44
10.0%
Month’s Supply of Inventory ................................
1.2
5.3
347.3%
Percent Under Contract ........................................
92.3%
35.1%
-61.9%
Average Median Price for Last 12 Months ........
$197,846
$270,385
36.7%
*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)
$280
P R I C E
yearly trend
M E D I A N
S A L E S
$238
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$270,385
PROPERTIES FOR SALE
37
DAYS ON MARKET**
51
shadow inventory
20
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Malibu DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$656,000
$0
-100.0%
Average Price per Square Foot ...........................
$482
$0
-100.0%
Properties Sold .......................................................
2
0
-100.0%
Properties Pending Sale .......................................
2
2
0.0%
Properties For Sale ................................................
33
24
-27.3%
Days on Market (Pending Sale) ...........................
41
23
-43.9%
Month’s Supply of Inventory ................................
16.5
Percent Under Contract ........................................
6.1%
8.3%
37.5%
Average Median Price for Last 12 Months ........
$613,000
$683,136
11.4%
%
*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.
(in hundred thousands)
P R I C E
yearly trend
M E D I A N
S A L E S
$656
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$683,136
PROPERTIES FOR SALE
24
DAYS ON MARKET**
106
shadow inventory
12
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Marina Del Rey DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$645,000
$685,000
6.2%
Average Price per Square Foot ...........................
$500
$517
3.4%
Properties Sold .......................................................
18
19
5.6%
Properties Pending Sale .......................................
19
24
26.3%
Properties For Sale ................................................
121
148
22.3%
Days on Market (Pending Sale) ...........................
58
64
10.3%
Month’s Supply of Inventory ................................
6.7
7.8
15.9%
Percent Under Contract ........................................
15.7%
16.2%
3.3%
Average Median Price for Last 12 Months ........
$575,000
$693,274
20.6%
*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
S A L E S
(in hundred thousands)
$685
$645
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$693,274
PROPERTIES FOR SALE
148
DAYS ON MARKET**
66
shadow inventory
6
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Santa Monica DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$650,000
$717,750
10.4%
Average Price per Square Foot ...........................
$578
$651
12.6%
Properties Sold .......................................................
27
32
18.5%
Properties Pending Sale .......................................
30
28
-6.7%
Properties For Sale ................................................
111
101
-9.0%
Days on Market (Pending Sale) ...........................
69
42
-39.1%
Month’s Supply of Inventory ................................
4.1
3.2
-23.2%
Percent Under Contract ........................................
27.0%
27.7%
2.6%
Average Median Price for Last 12 Months ........
$732,000
$747,861
2.2%
*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
S A L E S
(in hundred thousands)
$717
$650
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$747,861
PROPERTIES FOR SALE
101
DAYS ON MARKET**
47
shadow inventory
24
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Sherman Oaks DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$258,000
$380,000
47.3%
Average Price per Square Foot ...........................
$222
$313
41.0%
Properties Sold .......................................................
16
18
12.5%
Properties Pending Sale .......................................
21
21
0.0%
Properties For Sale ................................................
18
35
94.4%
Days on Market (Pending Sale) ...........................
77
45
-41.6%
Month’s Supply of Inventory ................................
1.1
1.9
72.8%
Percent Under Contract ........................................
116.7%
60.0%
-48.6%
Average Median Price for Last 12 Months ........
$290,692
$344,308
18.4%
*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.
S A L E S
(in hundred thousands)
$380
P R I C E
yearly trend
M E D I A N
$258
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$344,308
PROPERTIES FOR SALE
35
DAYS ON MARKET**
55
shadow inventory
29
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Studio City DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$345,000
$380,000
10.1%
Average Price per Square Foot ...........................
$269
$359
33.5%
Properties Sold .......................................................
9
6
-33.3%
Properties Pending Sale .......................................
5
12
140.0%
Properties For Sale ................................................
5
29
480.0%
Days on Market (Pending Sale) ...........................
41
63
53.7%
Month’s Supply of Inventory ................................
0.6
4.8
770.0%
Percent Under Contract ........................................
100.0%
41.4%
-58.6%
Average Median Price for Last 12 Months ........
$412,769
$435,923
5.6%
*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
S A L E S
$380
$345
(in hundred thousands)
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$435,923
PROPERTIES FOR SALE
29
DAYS ON MARKET**
52
shadow inventory
14
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Venice DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$966,000
$899,000
-6.9%
Average Price per Square Foot ...........................
$642
$597
-7.0%
Properties Sold .......................................................
4
7
75.0%
Properties Pending Sale .......................................
5
2
-60.0%
Properties For Sale ................................................
16
10
-37.5%
Days on Market (Pending Sale) ...........................
33
102
209.1%
Month’s Supply of Inventory ................................
4
1.4
-64.3%
Percent Under Contract ........................................
31.2%
20.0%
-36.0%
Average Median Price for Last 12 Months ........
$878,000
$1,098,615
25.1%
*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
$899
S A L E S
$966
(in hundred thousands)
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$1,098,615
PROPERTIES FOR SALE
10
DAYS ON MARKET**
67
shadow inventory
3
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
West Hollywood DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$327,500
$775,000
136.6%
Average Price per Square Foot ...........................
$379
$611
61.2%
Properties Sold .......................................................
18
19
5.6%
Properties Pending Sale .......................................
26
29
11.5%
Properties For Sale ................................................
112
128
14.3%
Days on Market (Pending Sale) ...........................
96
79
-17.7%
Month’s Supply of Inventory ................................
6.2
6.7
8.3%
Percent Under Contract ........................................
23.2%
22.7%
-2.4%
Average Median Price for Last 12 Months ........
$419,000
$531,019
26.7%
*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.
S A L E S
(in hundred thousands)
$775
P R I C E
yearly trend
M E D I A N
$327
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$531,019
PROPERTIES FOR SALE
128
DAYS ON MARKET**
52
shadow inventory
16
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
West LA DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$599,000
$760,000
26.9%
Average Price per Square Foot ...........................
$385
$460
19.5%
Properties Sold .......................................................
15
9
-40.0%
Properties Pending Sale .......................................
9
7
-22.2%
Properties For Sale ................................................
37
44
18.9%
Days on Market (Pending Sale) ...........................
76
47
-38.2%
Month’s Supply of Inventory ................................
2.5
4.9
98.2%
Percent Under Contract ........................................
24.3%
15.9%
-34.6%
Average Median Price for Last 12 Months ........
$527,000
$638,731
21.2%
*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.
$760
M E D I A N
S A L E S
(in hundred thousands)
$599
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$638,731
PROPERTIES FOR SALE
44
DAYS ON MARKET**
48
shadow inventory
19
(19.0)
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
Westwood - Century City DATA*
Nov 2012
Nov 2013
% CHANGE
Median Price ..........................................................
$625,000
$654,000
4.6%
Average Price per Square Foot ...........................
$508
$589
15.9%
Properties Sold .......................................................
35
44
25.7%
Properties Pending Sale .......................................
36
39
8.3%
Properties For Sale ................................................
214
277
29.4%
Days on Market (Pending Sale) ...........................
84
64
-23.8%
Month’s Supply of Inventory ................................
6.1
6.3
3.0%
Percent Under Contract ........................................
16.8%
14.1%
-16.3%
Average Median Price for Last 12 Months ........
$589,000
$688,422
16.9%
*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.
M E D I A N
S A L E S
$654
$625
(in hundred thousands)
P R I C E
yearly trend
Nov
Dec
Jan
Feb
Micro Market Report : November 2013
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
telesintelligence.com
the numbers median sales price**
$688,422
PROPERTIES FOR SALE
277
DAYS ON MARKET**
66
shadow inventory
37
(37.0)
**12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
November 2013 : Micro Market Report
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References
CONTACTS:
Aleksey Tokhner Project Manager, Teles Intelligence aleksey.tokhner@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 November 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.