Teles intelligence
micro market report san fernando valley OCTOBER 2012 | SINGLE FAMILY HOMES REPORT
Navigating Solutions. At Riviera Financial, the business of real estate finance is about much more than loans. It is about offering diverse and competitive products; advising borrowers to make informed choices to support and protect their security; providing extraordinarily thorough customer care; and navigating solutions. Our customers expect and deserve the highest level of service and performance in all of their borrowing activities. When it comes to dedicated, comprehensive real estate finance, Riviera Financial delivers.
Get the full lending experience at rivierafinancial.com or contact a loan professional by calling 424.203.1850
r i v i e r a f i n a n c i a l . c o m 4 Locations to Serve You | Beverly Hills, Brentwood, Newport Beach & Pasadena Riviera Financial dba Mortgage Capital Partners, Inc. NMLS#239902 California Real Estate #00931610
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.
san fernando
san gab
los ang
San Fernando Macro Market
Glendale
Shadow Hills
Burbank
La Crescenta
Sherman Oaks
Encino
North Hollywood
Studio City
Micro Market Report : October 2012
telesintelligence.com
briel
south bay
geles
orange county Sun Valley
Valley Village
Sunland - Tujunga
Woodland Hills
Toluca Lake
October 2012 : Micro Market Report
San Fernando Macro Market DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$529,077
$589,769
11.5%
Average Price per Square Foot ...........................
$293
$302
2.9%
Properties Sold .......................................................
355
468
31.8%
Properties Pending Sale .......................................
400
544
36.0%
Properties For Sale ................................................
1377
776
-43.6%
Days on Market (Pending Sale) ...........................
78
74
-6.1%
Month’s Supply of Inventory ................................
3.9
1.7
-57.3%
Percent Under Contract ........................................
29.0%
70.1%
141.3%
Average Median Price for Last 12 Months ........
$556,559
$557,729
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.
(in hundred thousands)
$636
P R I C E
yearly trend
M E D I A N
S A L E S
$513
OCT
NOV
DEC
JAN
Micro Market Report : October 2012
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
telesintelligence.com
Burbank DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$464,000
$522,000
12.5%
Average Price per Square Foot ...........................
$314
$337
7.3%
Properties Sold .......................................................
55
49
-10.9%
Properties Pending Sale .......................................
52
64
23.1%
Properties For Sale ................................................
152
74
-51.3%
Days on Market (Pending Sale) ...........................
64
75
17.2%
Month’s Supply of Inventory ................................
2.8
1.5
-45.4%
Percent Under Contract ........................................
34.2%
86.5%
152.8%
Average Median Price for Last 12 Months ........
$502,385
$491,846
-2.1%
*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.
$522
M E D I A N
S A L E S
(in hundred thousands)
$464
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**
$491,846 PROPERTIES FOR SALE
74 DAYS ON MARKET**
68 shadow inventory
253 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Encino DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$870,000
$646,000
-25.7%
Average Price per Square Foot ...........................
$340
$335
-1.5%
Properties Sold .......................................................
28
37
32.1%
Properties Pending Sale .......................................
28
52
85.7%
Properties For Sale ................................................
135
86
-36.3%
Days on Market (Pending Sale) ...........................
69
78
13.0%
Month’s Supply of Inventory ................................
4.8
2.3
-51.8%
Percent Under Contract ........................................
20.7%
60.5%
191.5%
Average Median Price for Last 12 Months ........
$755,385
$784,462
3.8%
*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
$646
S A L E S
$870
(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**
$784,462 PROPERTIES FOR SALE
86 DAYS ON MARKET**
79 shadow inventory
155 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Glendale DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$592,000
$578,000
-2.4%
Average Price per Square Foot ...........................
$337
$335
-0.6%
Properties Sold .......................................................
43
74
72.1%
Properties Pending Sale .......................................
70
83
18.6%
Properties For Sale ................................................
175
109
-37.7%
Days on Market (Pending Sale) ...........................
91
56
-38.5%
Month’s Supply of Inventory ................................
4.1
1.5
-63.8%
Percent Under Contract ........................................
40.0%
76.1%
90.4%
Average Median Price for Last 12 Months ........
$588,692
$574,846
-2.4%
*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
$578
(in hundred thousands)
$592
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**
$574,846 PROPERTIES FOR SALE
109 DAYS ON MARKET**
72 shadow inventory
284 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
La Crescenta DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$518,000
$575,000
11.0%
Average Price per Square Foot ...........................
$348
$353
1.4%
Properties Sold .......................................................
6
22
266.7%
Properties Pending Sale .......................................
10
26
160.0%
Properties For Sale ................................................
53
20
-62.3%
Days on Market (Pending Sale) ...........................
98
71
-27.6%
Month’s Supply of Inventory ................................
8.8
0.9
-89.7%
Percent Under Contract ........................................
18.9%
130.0%
589.0%
Average Median Price for Last 12 Months ........
$579,615
$541,462
-6.6%
*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)
$575
$518
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**
$541,462 PROPERTIES FOR SALE
20 DAYS ON MARKET**
81 shadow inventory
70 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
North Hollywood DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$312,000
$310,000
-0.6%
Average Price per Square Foot ...........................
$216
$232
7.4%
Properties Sold .......................................................
46
48
4.3%
Properties Pending Sale .......................................
50
51
2.0%
Properties For Sale ................................................
159
52
-67.3%
Days on Market (Pending Sale) ...........................
77
48
-37.7%
Month’s Supply of Inventory ................................
3.5
1.1
-68.7%
Percent Under Contract ........................................
31.4%
98.1%
211.9%
Average Median Price for Last 12 Months ........
$306,923
$304,231
-0.9%
*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.
$312
M E D I A N
S A L E S
(in hundred thousands)
$310
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**
$304,231 PROPERTIES FOR SALE
52 DAYS ON MARKET**
74 shadow inventory
325 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Shadow Hills DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$475,000
$608,000
28.0%
Average Price per Square Foot ...........................
$256
$199
-22.3%
Properties Sold .......................................................
1
2
100.0%
Properties Pending Sale .......................................
2
3
50.0%
Properties For Sale ................................................
21
11
-47.6%
Days on Market (Pending Sale) ...........................
183
110
-39.9%
Month’s Supply of Inventory ................................
21.0
5.5
-73.8%
Percent Under Contract ........................................
9.5%
27.3%
186.4%
Average Median Price for Last 12 Months ........
$566,727
$585,000
3.2%
*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)
$608
P R I C E
yearly trend
M E D I A N
$475
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**
$585,000 PROPERTIES FOR SALE
11 DAYS ON MARKET**
78 shadow inventory
0 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Sherman Oaks DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$615,000
$750,000
22.0%
Average Price per Square Foot ...........................
$328
$354
7.9%
Properties Sold .......................................................
37
57
54.1%
Properties Pending Sale .......................................
37
59
59.5%
Properties For Sale ................................................
170
109
-35.9%
Days on Market (Pending Sale) ...........................
64
73
14.1%
Month’s Supply of Inventory ................................
4.6
1.9
-58.4%
Percent Under Contract ........................................
21.8%
54.1%
148.7%
Average Median Price for Last 12 Months ........
$667,231
$676,462
1.4%
*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.
$750
M E D I A N
S A L E S
(in hundred thousands)
$615
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**
$676,462 PROPERTIES FOR SALE
109 DAYS ON MARKET**
77 shadow inventory
99 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Studio City DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$870,000
$875,000
0.6%
Average Price per Square Foot ...........................
$373
$421
12.9%
Properties Sold .......................................................
22
33
50.0%
Properties Pending Sale .......................................
25
26
4.0%
Properties For Sale ................................................
100
66
-34.0%
Days on Market (Pending Sale) ...........................
72
66
-8.3%
Month’s Supply of Inventory ................................
4.5
2.0
-56.0%
Percent Under Contract ........................................
25.0%
39.4%
57.6%
Average Median Price for Last 12 Months ........
$813,154
$822,769
1.2%
*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.
$875
M E D I A N
S A L E S
(in hundred thousands)
$870
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**
$822,769 PROPERTIES FOR SALE
66 DAYS ON MARKET**
74 shadow inventory
51 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Sun Valley DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$201,000
$285,000
41.8%
Average Price per Square Foot ...........................
$179
$213
19.0%
Properties Sold .......................................................
22
25
13.6%
Properties Pending Sale .......................................
28
26
-7.1%
Properties For Sale ................................................
66
20
-69.7%
Days on Market (Pending Sale) ...........................
74
67
-9.5%
Month’s Supply of Inventory ................................
3.0
0.8
-73.3%
Percent Under Contract ........................................
42.4%
130.0%
206.4%
Average Median Price for Last 12 Months ........
$271,231
$264,615
-2.4%
*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)
$285
P R I C E
yearly trend
M E D I A N
S A L E S
$201
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**
$264,615 PROPERTIES FOR SALE
20 DAYS ON MARKET**
73 shadow inventory
131 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Sunland - Tujunga DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$285,000
$350,000
22.8%
Average Price per Square Foot ...........................
$237
$231
-2.5%
Properties Sold .......................................................
35
46
31.4%
Properties Pending Sale .......................................
31
48
54.8%
Properties For Sale ................................................
94
65
-30.9%
Days on Market (Pending Sale) ...........................
84
78
-7.1%
Month’s Supply of Inventory ................................
2.7
1.4
-47.4%
Percent Under Contract ........................................
33.0%
73.8%
123.9%
Average Median Price for Last 12 Months ........
$327,923
$335,000
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.
$350
M E D I A N
S A L E S
(in hundred thousands)
$285
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**
$335,000 PROPERTIES FOR SALE
65 DAYS ON MARKET**
74 shadow inventory
205 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Toluca Lake DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$740,000
$830,000
12.2%
Average Price per Square Foot ...........................
$363
$331
-8.8%
Properties Sold .......................................................
7
7
0.0%
Properties Pending Sale .......................................
4
7
75.0%
Properties For Sale ................................................
18
24
33.3%
Days on Market (Pending Sale) ...........................
30
98
226.7%
Month’s Supply of Inventory ................................
2.6
3.4
33.3%
Percent Under Contract ........................................
22.2%
29.2%
31.3%
Average Median Price for Last 12 Months ........
$766,923
$789,833
3.0%
*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
$830
$740
(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**
$789,833 PROPERTIES FOR SALE
24 DAYS ON MARKET**
101 shadow inventory
7 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Valley Village DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$446,000
$768,000
72.2%
Average Price per Square Foot ...........................
$286
$337
17.8%
Properties Sold .......................................................
8
8
0.0%
Properties Pending Sale .......................................
12
16
33.3%
Properties For Sale ................................................
39
24
-38.5%
Days on Market (Pending Sale) ...........................
37
53
43.2%
Month’s Supply of Inventory ................................
4.9
3.0
-38.5%
Percent Under Contract ........................................
30.8%
66.7%
116.7%
Average Median Price for Last 12 Months ........
$566,923
$584,231
3.1%
*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.
S A L E S
(in hundred thousands)
$768
P R I C E
yearly trend
M E D I A N
$446
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**
$584,231 PROPERTIES FOR SALE
24 DAYS ON MARKET**
62 shadow inventory
8 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
Woodland Hills DATA*
OCT 2011
OCT 2012
% CHANGE
Median Price ..........................................................
$490,000
$570,000
16.3%
Average Price per Square Foot ...........................
$238
$247
3.8%
Properties Sold .......................................................
45
60
33.3%
Properties Pending Sale .......................................
51
83
62.7%
Properties For Sale ................................................
195
116
-40.5%
Days on Market (Pending Sale) ...........................
77
85
10.4%
Month’s Supply of Inventory ................................
4.3
1.9
-55.4%
Percent Under Contract ........................................
26.2%
71.6%
173.6%
Average Median Price for Last 12 Months ........
$522,154
$522,077
0.0%
*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.
$570
M E D I A N
S A L E S
(in hundred thousands)
$490
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**
$522,077 PROPERTIES FOR SALE
116 DAYS ON MARKET**
75 shadow inventory
291 **12 month average
active listings
shadow inventory
Teles intelligence where data meets reason
October 2012 : Micro Market Report
EfďŹ cient Financial security, expert staffing, advanced technology and personalized service. Portfolio Escrow, Inc. is driven to be a leading force in the escrow industry.
> >
424.203.1841 p o r t f o l i o e s c r o w. c o m
Š 2011 Portfolio Escrow, Inc. All Rights Reserved
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 OCTOBER 2012 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.