Teles intelligence
micro market report south bay OCTOBER 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 : October 2012
telesintelligence.com
geles
orange county
nando
san gabriel Rolling Hills Estates
Torrance
San Pedro
October 2012 : Micro Market Report
South Bay Macro Market DATA *
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$908,994
$1,086,994
19.6%
Average Price per Square Foot ...........................
$406
$462
13.6%
Properties Sold .......................................................
122
162
32.8%
Properties Pending Sale .......................................
132
203
53.8%
Properties For Sale ................................................
922
588
-36.2%
Days on Market (Pending Sale) ...........................
76
44
-41.9%
Month’s Supply of Inventory ................................
7.6
3.6
-52.0%
Percent Under Contract ........................................
14.3%
34.5%
141.1%
Average Median Price for Last 12 Months ........
$1,169,375
$1,214,549
3.9%
*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
$909
S A L E S
$1.087
(in hundred thousands)
P R I C E
yearly trend
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
Manhattan Beach DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$1,630,000
$1,550,000
-4.9%
Average Price per Square Foot ...........................
$667
$797
19.5%
Properties Sold .......................................................
15
26
73.3%
Properties Pending Sale .......................................
22
33
50.0%
Properties For Sale ................................................
126
85
-32.5%
Days on Market (Pending Sale) ...........................
80
31
-61.3%
Month’s Supply of Inventory ................................
8.4
3.3
-61.1%
Percent Under Contract ........................................
17.5%
38.8%
122.4%
Average Median Price for Last 12 Months ........
$1,450,000
$1,551,808
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.
$1.630
M E D I A N
S A L E S
(in hundred thousands)
$1.550
P R I C E
yearly trend
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$1,551,808 PROPERTIES FOR SALE
85 DAYS ON MARKET**
68 shadow inventory
24 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Palos Verdes DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$1,178,000
$1,327,500
12.7%
Average Price per Square Foot ...........................
$524
$630
20.2%
Properties Sold .......................................................
8
10
25.0%
Properties Pending Sale .......................................
15
12
-20.0%
Properties For Sale ................................................
100
58
-42.0%
Days on Market (Pending Sale) ...........................
90
58
-35.6%
Month’s Supply of Inventory ................................
12.5
5.8
-53.6%
Percent Under Contract ........................................
15.0%
20.7%
37.9%
Average Median Price for Last 12 Months ........
$1,424,000
$1,436,000
0.8%
*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.
M E D I A N
S A L E S
$1.328
$1.178
(in hundred thousands)
P R I C E
yearly trend
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$1,436,000 PROPERTIES FOR SALE
58 DAYS ON MARKET**
101 shadow inventory
15 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Rancho Palos Verdes DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$926,000
$930,000
0.4%
Average Price per Square Foot ...........................
$466
$438
-6.0%
Properties Sold .......................................................
24
28
16.7%
Properties Pending Sale .......................................
23
42
82.6%
Properties For Sale ................................................
172
129
-25.0%
Days on Market (Pending Sale) ...........................
122
38
-68.9%
Month’s Supply of Inventory ................................
7.2
4.6
-35.7%
Percent Under Contract ........................................
13.4%
32.6%
143.5%
Average Median Price for Last 12 Months ........
$939,000
$951,500
1.3%
*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)
$926
P R I C E
yearly trend
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$951,500 PROPERTIES FOR SALE
129 DAYS ON MARKET**
95 shadow inventory
79 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Redondo Beach DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$646,950
$742,450
14.8%
Average Price per Square Foot ...........................
$411
$382
-7.1%
Properties Sold .......................................................
12
30
150.0%
Properties Pending Sale .......................................
21
31
47.6%
Properties For Sale ................................................
126
70
-44.4%
Days on Market (Pending Sale) ...........................
77
29
-62.3%
Month’s Supply of Inventory ................................
10.5
2.3
-77.8%
Percent Under Contract ........................................
16.7%
44.3%
165.7%
Average Median Price for Last 12 Months ........
$710,000
$725,647
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.
$742
M E D I A N
S A L E S
(in hundred thousands)
$647
P R I C E
yearly trend
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$725,647 PROPERTIES FOR SALE
70 DAYS ON MARKET**
69 shadow inventory
66 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Rolling Hills DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$2,075,000
$2,870,000
38.3%
Average Price per Square Foot ...........................
$556
$816
46.8%
Properties Sold .......................................................
1
3
200.0%
Properties Pending Sale .......................................
1
1
0.0%
Properties For Sale ................................................
25
24
-4.0%
Days on Market (Pending Sale) ...........................
76
58
-23.7%
Month’s Supply of Inventory ................................
25.0
8.0
-68.0%
Percent Under Contract ........................................
4.0%
4.2%
4.2%
Average Median Price for Last 12 Months ........
$2,713,000
$2,950,909
8.8%
*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.
OCT
M E D I A N
$2.075
S A L E S
$2.870
(in hundred thousands)
P R I C E
yearly trend
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$2,950,909 PROPERTIES FOR SALE
24 DAYS ON MARKET**
108 shadow inventory
21 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Rolling Hills Estates DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$830,000
$1,350,000
62.7%
Average Price per Square Foot ...........................
$407
$446
9.6%
Properties Sold .......................................................
3
12
300.0%
Properties Pending Sale .......................................
1
10
900.0%
Properties For Sale ................................................
43
32
-25.6%
Days on Market (Pending Sale) ...........................
75
73
-2.7%
Month’s Supply of Inventory ................................
14.3
2.7
-81.4%
Percent Under Contract ........................................
2.3%
31.3%
1243.8%
Average Median Price for Last 12 Months ........
$1,133,000
$1,137,158
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.
S A L E S
(in hundred thousands)
$1.350
P R I C E
yearly trend
M E D I A N
$830
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$1,137,158 PROPERTIES FOR SALE
32 DAYS ON MARKET**
84 shadow inventory
10 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
San Pedro DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$395,000
$425,000
7.6%
Average Price per Square Foot ...........................
$283
$303
7.1%
Properties Sold .......................................................
27
18
-33.3%
Properties Pending Sale .......................................
15
25
66.7%
Properties For Sale ................................................
137
90
-34.3%
Days on Market (Pending Sale) ...........................
97
65
-33.0%
Month’s Supply of Inventory ................................
5.1
5.0
-1.5%
Percent Under Contract ........................................
10.9%
27.8%
153.7%
Average Median Price for Last 12 Months ........
$436,000
$423,793
-2.8%
*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.
$425
M E D I A N
S A L E S
(in hundred thousands)
$395
P R I C E
yearly trend
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$423,793 PROPERTIES FOR SALE
90 DAYS ON MARKET**
88 shadow inventory
141 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Torrance DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$500,000
$588,000
17.6%
Average Price per Square Foot ...........................
$344
$344
0.0%
Properties Sold .......................................................
32
35
9.4%
Properties Pending Sale .......................................
34
49
44.1%
Properties For Sale ................................................
193
100
-48.2%
Days on Market (Pending Sale) ...........................
66
45
-31.8%
Month’s Supply of Inventory ................................
6.0
2.9
-52.6%
Percent Under Contract ........................................
17.6%
49.0%
178.1%
Average Median Price for Last 12 Months ........
$550,000
$539,577
-1.9%
*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)
$588
P R I C E
yearly trend
M E D I A N
S A L E S
$500
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
the numbers median sales price**
$539,577 PROPERTIES FOR SALE
100 DAYS ON MARKET**
63 shadow inventory
233 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 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:
Teles Intelligence 11990 San Vicente Blvd, Suite 100 Los Angeles, Ca 90049
Phone:
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info@telesintelligence.com
Teles intelligence OCTOBER 2012 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.