Teles intelligence
micro market report condominiums October 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 : October 2013
telesintelligence.com
bay
los angeles
e county
san fernando
Studio City
West LA
Venice
Westwood - Century City
West Hollywood
October 2013 : Micro Market Report
Beverly Center - Miracle Mile DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$542,500
$754,500
39.1%
Average Price per Square Foot ...........................
$426
$481
12.9%
Properties Sold .......................................................
6
14
133.3%
Properties Pending Sale .......................................
7
7
0.0%
Properties For Sale ................................................
30
40
33.3%
Days on Market (Pending Sale) ...........................
54
31
-42.6%
Month’s Supply of Inventory ................................
5
2.9
-42.9%
Percent Under Contract ........................................
23.3%
17.5%
-25.0%
Average Median Price for Last 12 Months ........
$504,000
$581,235
15.3%
*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.
(in hundred thousands)
$754
P R I C E
yearly trend
M E D I A N
S A L E S
$542
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$581,235
PROPERTIES FOR SALE
40
DAYS ON MARKET**
37
shadow inventory
4
(4.0)
**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
October 2013 : Micro Market Report
Beverly Hills DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$820,000
$1,067,500
30.2%
Average Price per Square Foot ...........................
$449
$505
12.5%
Properties Sold .......................................................
7
8
14.3%
Properties Pending Sale .......................................
6
5
-16.7%
Properties For Sale ................................................
59
48
-18.6%
Days on Market (Pending Sale) ...........................
114
30
-73.7%
Month’s Supply of Inventory ................................
8.4
6
-28.8%
Percent Under Contract ........................................
10.2%
10.4%
2.4%
Average Median Price for Last 12 Months ........
$944,000
$857,019
-9.2%
*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.
$1.067
M E D I A N
S A L E S
(in hundred thousands)
$820
P R I C E
yearly trend
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$857,019
PROPERTIES FOR SALE
48
DAYS ON MARKET**
71
shadow inventory
13
**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
October 2013 : Micro Market Report
Brentwood DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$738,350
$715,000
-3.2%
Average Price per Square Foot ...........................
$412
$492
19.4%
Properties Sold .......................................................
10
14
40.0%
Properties Pending Sale .......................................
16
12
-25.0%
Properties For Sale ................................................
71
73
2.8%
Days on Market (Pending Sale) ...........................
60
55
-8.3%
Month’s Supply of Inventory ................................
7.1
5.2
-26.6%
Percent Under Contract ........................................
22.5%
16.4%
-27.1%
Average Median Price for Last 12 Months ........
$612,000
$695,202
13.6%
*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.
$738
M E D I A N
S A L E S
(in hundred thousands)
$715
P R I C E
yearly trend
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$695,202
PROPERTIES FOR SALE
73
DAYS ON MARKET**
51
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
October 2013 : Micro Market Report
Culver City DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$310,000
$367,500
18.5%
Average Price per Square Foot ...........................
$263
$410
55.9%
Properties Sold .......................................................
15
12
-20.0%
Properties Pending Sale .......................................
10
12
20.0%
Properties For Sale ................................................
38
36
-5.3%
Days on Market (Pending Sale) ...........................
65
30
-53.8%
Month’s Supply of Inventory ................................
2.5
3
18.4%
Percent Under Contract ........................................
26.3%
33.3%
26.7%
Average Median Price for Last 12 Months ........
$274,000
$373,036
36.1%
*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.
(in hundred thousands)
$367
P R I C E
yearly trend
M E D I A N
S A L E S
$310
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$373,036
PROPERTIES FOR SALE
36
DAYS ON MARKET**
37
shadow inventory
24
**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
October 2013 : Micro Market Report
Encino DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$196,000
$266,000
35.7%
Average Price per Square Foot ...........................
$178
$257
44.4%
Properties Sold .......................................................
24
14
-41.7%
Properties Pending Sale .......................................
13
9
-30.8%
Properties For Sale ................................................
17
32
88.2%
Days on Market (Pending Sale) ...........................
64
29
-54.7%
Month’s Supply of Inventory ................................
0.7
2.3
222.7%
Percent Under Contract ........................................
76.5%
28.1%
-63.2%
Average Median Price for Last 12 Months ........
$195,462
$263,923
35.0%
*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
(in hundred thousands)
$266
P R I C E
yearly trend
M E D I A N
$196
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$263,923
PROPERTIES FOR SALE
32
DAYS ON MARKET**
52
shadow inventory
24
**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
October 2013 : Micro Market Report
Malibu DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$639,500
$980,000
53.2%
Average Price per Square Foot ...........................
$443
$558
26.0%
Properties Sold .......................................................
2
4
100.0%
Properties Pending Sale .......................................
4
2
-50.0%
Properties For Sale ................................................
36
26
-27.8%
Days on Market (Pending Sale) ...........................
128
78
-39.1%
Month’s Supply of Inventory ................................
18
6.5
-63.9%
Percent Under Contract ........................................
11.1%
7.7%
-30.8%
Average Median Price for Last 12 Months ........
$590,000
$679,500
15.2%
*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)
$980
P R I C E
yearly trend
M E D I A N
$639
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$679,500
PROPERTIES FOR SALE
26
DAYS ON MARKET**
114
shadow inventory
10
**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
October 2013 : Micro Market Report
Marina Del Rey DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$630,000
$770,000
22.2%
Average Price per Square Foot ...........................
$415
$570
37.3%
Properties Sold .......................................................
27
22
-18.5%
Properties Pending Sale .......................................
20
28
40.0%
Properties For Sale ................................................
126
168
33.3%
Days on Market (Pending Sale) ...........................
97
48
-50.5%
Month’s Supply of Inventory ................................
4.7
7.6
63.6%
Percent Under Contract ........................................
15.9%
16.7%
5.0%
Average Median Price for Last 12 Months ........
$568,000
$689,043
21.3%
*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.
(in hundred thousands)
$770
P R I C E
yearly trend
M E D I A N
S A L E S
$630
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$689,043
PROPERTIES FOR SALE
168
DAYS ON MARKET**
69
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
October 2013 : Micro Market Report
Santa Monica DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$760,000
$787,000
3.6%
Average Price per Square Foot ...........................
$655
$704
7.5%
Properties Sold .......................................................
33
32
-3.0%
Properties Pending Sale .......................................
35
35
0.0%
Properties For Sale ................................................
131
119
-9.2%
Days on Market (Pending Sale) ...........................
94
34
-63.8%
Month’s Supply of Inventory ................................
4
3.7
-6.3%
Percent Under Contract ........................................
26.7%
29.4%
10.1%
Average Median Price for Last 12 Months ........
$727,000
$751,111
3.3%
*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.
$787
M E D I A N
S A L E S
(in hundred thousands)
$760
P R I C E
yearly trend
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$751,111
PROPERTIES FOR SALE
119
DAYS ON MARKET**
51
shadow inventory
21
**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
October 2013 : Micro Market Report
Sherman Oaks DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$315,000
$365,000
15.9%
Average Price per Square Foot ...........................
$246
$295
19.9%
Properties Sold .......................................................
17
21
23.5%
Properties Pending Sale .......................................
20
19
-5.0%
Properties For Sale ................................................
15
36
140.0%
Days on Market (Pending Sale) ...........................
77
53
-31.2%
Month’s Supply of Inventory ................................
0.9
1.7
94.3%
Percent Under Contract ........................................
133.3%
52.8%
-60.4%
Average Median Price for Last 12 Months ........
$293,154
$339,308
15.7%
*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.
$365
M E D I A N
S A L E S
(in hundred thousands)
$315
P R I C E
yearly trend
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$339,308
PROPERTIES FOR SALE
36
DAYS ON MARKET**
58
shadow inventory
29
**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
October 2013 : Micro Market Report
Studio City DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$497,000
$450,000
-9.5%
Average Price per Square Foot ...........................
$316
$351
11.1%
Properties Sold .......................................................
6
16
166.7%
Properties Pending Sale .......................................
11
10
-9.1%
Properties For Sale ................................................
12
24
100.0%
Days on Market (Pending Sale) ...........................
108
50
-53.7%
Month’s Supply of Inventory ................................
2
1.5
-25.0%
Percent Under Contract ........................................
91.7%
41.7%
-54.5%
Average Median Price for Last 12 Months ........
$412,385
$444,923
7.9%
*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.
$497
M E D I A N
S A L E S
(in hundred thousands)
$450
P R I C E
yearly trend
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$444,923
PROPERTIES FOR SALE
24
DAYS ON MARKET**
55
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
October 2013 : Micro Market Report
Venice DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$1,069,000
$1,062,500
-0.6%
Average Price per Square Foot ...........................
$520
$631
21.3%
Properties Sold .......................................................
3
4
33.3%
Properties Pending Sale .......................................
2
7
250.0%
Properties For Sale ................................................
14
20
42.9%
Days on Market (Pending Sale) ...........................
55
44
-20.0%
Month’s Supply of Inventory ................................
4.7
5
7.1%
Percent Under Contract ........................................
14.3%
35.0%
145.0%
Average Median Price for Last 12 Months ........
$857,000
$1,111,692
29.7%
*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
$1.062
S A L E S
$1.069
(in hundred thousands)
P R I C E
yearly trend
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$1,111,692
PROPERTIES FOR SALE
20
DAYS ON MARKET**
63
shadow inventory
4
**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
October 2013 : Micro Market Report
West Hollywood DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$436,709
$582,500
33.4%
Average Price per Square Foot ...........................
$416
$522
25.5%
Properties Sold .......................................................
20
32
60.0%
Properties Pending Sale .......................................
27
27
0.0%
Properties For Sale ................................................
128
138
7.8%
Days on Market (Pending Sale) ...........................
58
41
-29.3%
Month’s Supply of Inventory ................................
6.4
4.3
-32.6%
Percent Under Contract ........................................
21.1%
19.6%
-7.2%
Average Median Price for Last 12 Months ........
$422,000
$504,997
19.7%
*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)
$582
P R I C E
yearly trend
M E D I A N
S A L E S
$436
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$504,997
PROPERTIES FOR SALE
138
DAYS ON MARKET**
51
shadow inventory
17
**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
October 2013 : Micro Market Report
West LA DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$580,000
$549,000
-5.3%
Average Price per Square Foot ...........................
$387
$462
19.4%
Properties Sold .......................................................
13
9
-30.8%
Properties Pending Sale .......................................
18
13
-27.8%
Properties For Sale ................................................
51
52
2.0%
Days on Market (Pending Sale) ...........................
91
52
-42.9%
Month’s Supply of Inventory ................................
3.9
5.8
47.3%
Percent Under Contract ........................................
35.3%
25.0%
-29.2%
Average Median Price for Last 12 Months ........
$515,000
$624,885
21.3%
*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.
M E D I A N
$549
S A L E S
$580
(in hundred thousands)
P R I C E
yearly trend
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$624,885
PROPERTIES FOR SALE
52
DAYS ON MARKET**
51
shadow inventory
19
(19.0)
**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
October 2013 : Micro Market Report
Westwood - Century City DATA*
Oct 2012
Oct 2013
% CHANGE
Median Price ..........................................................
$590,000
$952,500
61.4%
Average Price per Square Foot ...........................
$490
$762
55.5%
Properties Sold .......................................................
37
38
2.7%
Properties Pending Sale .......................................
38
44
15.8%
Properties For Sale ................................................
232
288
24.1%
Days on Market (Pending Sale) ...........................
121
67
-44.6%
Month’s Supply of Inventory ................................
6.3
7.6
20.9%
Percent Under Contract ........................................
16.4%
15.3%
-6.7%
Average Median Price for Last 12 Months ........
$585,000
$683,499
16.8%
*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.
S A L E S
(in hundred thousands)
$952
P R I C E
yearly trend
M E D I A N
$590
Oct
Nov
Dec
Jan
Micro Market Report : October 2013
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
telesintelligence.com
the numbers median sales price**
$683,499
PROPERTIES FOR SALE
288
DAYS ON MARKET**
71
shadow inventory
32
(32.0)
**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
October 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 October 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.