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micro market report south bay September 2013 | 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 : September 2013
telesintelligence.com
geles
orange county
nando
san gabriel Rolling Hills Estates
Torrance
San Pedro
September 2013 : Micro Market Report
South Bay Macro Market DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$1,014,056
$1,053,389
3.9%
Average Price per Square Foot ...........................
$451
$495
9.7%
Properties Sold .......................................................
189
191
1.1%
Properties Pending Sale .......................................
171
164
-4.1%
Properties For Sale ................................................
680
642
-5.6%
Days on Market (Pending Sale) ...........................
63
42
-32.3%
Month’s Supply of Inventory ................................
3.6
3.4
-6.6%
Percent Under Contract ........................................
25.1%
25.5%
1.6%
Average Median Price for Last 12 Months ........
$1,196,750
$1,277,852
6.8%
*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
$1.053
$1.014
(in hundred thousands)
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Manhattan Beach DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$1,407,500
$1,730,000
22.9%
Average Price per Square Foot ...........................
$715
$718
0.4%
Properties Sold .......................................................
20
27
35.0%
Properties Pending Sale .......................................
19
22
15.8%
Properties For Sale ................................................
84
77
-8.3%
Days on Market (Pending Sale) ...........................
103
47
-54.4%
Month’s Supply of Inventory ................................
4.2
2.9
-32.1%
Percent Under Contract ........................................
22.6%
28.6%
26.3%
Average Median Price for Last 12 Months ........
$1,500,000
$1,629,254
8.6%
*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
$1.407
(in hundred thousands)
$1.730
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
telesintelligence.com
the numbers median sales price**
$1,629,254
PROPERTIES FOR SALE
77
DAYS ON MARKET**
49
shadow inventory
8
**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
September 2013 : Micro Market Report
Palos Verdes Estates DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$1,585,000
$1,500,000
-5.4%
Average Price per Square Foot ...........................
$572
$669
17.0%
Properties Sold .......................................................
11
17
54.5%
Properties Pending Sale .......................................
13
16
23.1%
Properties For Sale ................................................
55
63
14.5%
Days on Market (Pending Sale) ...........................
125
55
-56.0%
Month’s Supply of Inventory ................................
5
3.7
-25.9%
Percent Under Contract ........................................
23.6%
25.4%
7.4%
Average Median Price for Last 12 Months ........
$1,415,000
$1,565,541
10.6%
*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
$1.500
S A L E S
$1.585
(in hundred thousands)
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
telesintelligence.com
the numbers median sales price**
$1,565,541
PROPERTIES FOR SALE
63
DAYS ON MARKET**
66
shadow inventory
11
**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
September 2013 : Micro Market Report
Rancho Palos Verdes DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$971,500
$1,150,000
18.4%
Average Price per Square Foot ...........................
$415
$483
16.4%
Properties Sold .......................................................
40
41
2.5%
Properties Pending Sale .......................................
32
35
9.4%
Properties For Sale ................................................
142
128
-9.9%
Days on Market (Pending Sale) ...........................
81
52
-35.8%
Month’s Supply of Inventory ................................
3.6
3.1
-12.1%
Percent Under Contract ........................................
22.5%
27.3%
21.3%
Average Median Price for Last 12 Months ........
$937,000
$1,046,399
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.
$1.150
M E D I A N
S A L E S
(in hundred thousands)
$971
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
telesintelligence.com
the numbers median sales price**
$1,046,399
PROPERTIES FOR SALE
128
DAYS ON MARKET**
60
shadow inventory
30
**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
September 2013 : Micro Market Report
Redondo Beach DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$727,500
$887,500
22.0%
Average Price per Square Foot ...........................
$508
$588
15.7%
Properties Sold .......................................................
36
22
-38.9%
Properties Pending Sale .......................................
29
11
-62.1%
Properties For Sale ................................................
90
70
-22.2%
Days on Market (Pending Sale) ...........................
59
48
-18.6%
Month’s Supply of Inventory ................................
2.5
3.2
27.3%
Percent Under Contract ........................................
32.2%
15.7%
-51.2%
Average Median Price for Last 12 Months ........
$708,000
$822,069
16.1%
*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.
$887
M E D I A N
S A L E S
(in hundred thousands)
$727
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
telesintelligence.com
the numbers median sales price**
$822,069
PROPERTIES FOR SALE
70
DAYS ON MARKET**
38
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
September 2013 : Micro Market Report
Rolling Hills DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$2,125,000
$1,480,500
-30.3%
Average Price per Square Foot ...........................
$772
$716
-7.3%
Properties Sold .......................................................
2
2
0.0%
Properties Pending Sale .......................................
1
0
-100.0%
Properties For Sale ................................................
24
16
-33.3%
Days on Market (Pending Sale) ...........................
1
0
-100.0%
Month’s Supply of Inventory ................................
12
8
-33.3%
Percent Under Contract ........................................
4.2%
0.0%
-100.0%
Average Median Price for Last 12 Months ........
$2,959,000
$2,746,818
-7.2%
*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
$1.480
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
M E D I A N
$2.125
Sep
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$2,746,818
PROPERTIES FOR SALE
16
DAYS ON MARKET**
61
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
September 2013 : Micro Market Report
Rolling Hills Estates DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$1,310,000
$1,600,000
22.1%
Average Price per Square Foot ...........................
$447
$544
21.7%
Properties Sold .......................................................
3
8
166.7%
Properties Pending Sale .......................................
8
5
-37.5%
Properties For Sale ................................................
36
22
-38.9%
Days on Market (Pending Sale) ...........................
71
49
-31.0%
Month’s Supply of Inventory ................................
12
2.8
-77.1%
Percent Under Contract ........................................
22.2%
22.7%
2.3%
Average Median Price for Last 12 Months ........
$1,121,000
$1,341,712
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.
$1.600
M E D I A N
S A L E S
(in hundred thousands)
$1.310
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
telesintelligence.com
the numbers median sales price**
$1,341,712
PROPERTIES FOR SALE
22
DAYS ON MARKET**
58
shadow inventory
6
**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
September 2013 : Micro Market Report
San Pedro DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$465,000
$514,000
10.5%
Average Price per Square Foot ...........................
$287
$326
13.6%
Properties Sold .......................................................
31
32
3.2%
Properties Pending Sale .......................................
27
37
37.0%
Properties For Sale ................................................
119
133
11.8%
Days on Market (Pending Sale) ...........................
71
41
-42.3%
Month’s Supply of Inventory ................................
3.8
4.2
8.3%
Percent Under Contract ........................................
22.7%
27.8%
22.6%
Average Median Price for Last 12 Months ........
$404,000
$472,020
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.
$514
M E D I A N
S A L E S
(in hundred thousands)
$465
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
telesintelligence.com
the numbers median sales price**
$472,020
PROPERTIES FOR SALE
133
DAYS ON MARKET**
60
shadow inventory
57
**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
September 2013 : Micro Market Report
Torrance DATA*
Sep 2012
Sep 2013
% CHANGE
Median Price ..........................................................
$535,000
$618,500
15.6%
Average Price per Square Foot ...........................
$341
$408
19.6%
Properties Sold .......................................................
46
42
-8.7%
Properties Pending Sale .......................................
42
38
-9.5%
Properties For Sale ................................................
130
133
2.3%
Days on Market (Pending Sale) ...........................
52
47
-9.6%
Month’s Supply of Inventory ................................
2.8
3.2
12.1%
Percent Under Contract ........................................
32.3%
28.6%
-11.6%
Average Median Price for Last 12 Months ........
$530,000
$599,000
13.0%
*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.
$618
M E D I A N
S A L E S
(in hundred thousands)
$535
P R I C E
yearly trend
Sep
Oct
Nov
Dec
Micro Market Report : September 2013
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
telesintelligence.com
the numbers median sales price**
$599,000
PROPERTIES FOR SALE
133
DAYS ON MARKET**
40
shadow inventory
72
**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
September 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:
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Phone:
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Teles intelligence September 2013 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.