Teles intelligence
micro market report orange county MARCH 2012 | SINGLE FAMILY HOMES REPORT
March 2012
Ask The Right Questions
Conventional wisdom tells us to always ask “why?” Why do we do it that
Sharran Srivatsaa Chief Executive Officer, Teles Intelligence
way? Why does it work like that? Why should I listen to her? Why are you reminding me to ask why? Why? Generally, when presented with any kind of trend, we have also been taught to think in a similar way and ask why we are seeing that trend? For example, our analysts found a study that discussed the median price of home sales and its upward trend. The report also answered the “why” and did a detailed job of answering why there was an upward trend. For the same period, we also found a study that showed the median price of home sales and a downward trend, and similarly the report accurately analyzed “why” there was a downward trend. We asked “why” and got good answers - but can both reports be correct? Both reports were in fact accurate. We realized quickly that the question we should be asking first, specifically regarding trends, is not “why” but “what”. We are arguing about the value of first asking “what” the trend is really about versus accepting the trend for what it is and only being curious about “why” it is that way.
In the provided, one report found that across the United States, the median price of new home sales showed an upward trend while the other report actually referred to median price of existing home sales drifting downward. Big difference. Now lets ask why. The house price gap between distressed and non-distressed properties continues to widen, especially since distressed sales constitute approximately 30% of home sales. Specifically in California, 35% of homeowners are not only underwater on their mortgage but also near negative equity (those with 5% equity or less). In hindsight, it makes sense. We should first understand what we are looking at and only then try to understand why it is that way. What do you think?
All the Best!
S harr an S ri vats aa
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.
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orange san county gabriel Orange Country Macro Market
East Bluff - Harbor View
Irvine
Balboa Peninsula
East Costa Mesa
Laguna Beach (all areas)
Corona del Mar - Spyglass
Fountain Valley
Lower Newport Bay - Balb
Crystal Cove
Huntington Beach
Newport Beach (all areas)
Micro Market Report : March 2012
telesintelligence.com
south bay
los angeles
Newport Coast
West Newport - Lido
Newport Heights
Westminster
boa Island
Turtle Ridge
)
West Bay - Santa Ana Heights
March 2012 : Micro Market Report
Orange County Macro Market DATA *
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,309,778
$1,203,500
-8.1%
Average Price per Square Foot ...........................
$515
$523
1.5%
Properties Sold .......................................................
351
403
14.8%
Properties Pending Sale .......................................
391
594
51.9%
Properties For Sale ................................................
3087
2507
-18.8%
Days on Market (Pending Sale) ...........................
100
82
-17.7%
Month’s Supply of Inventory ................................
8.8
6.2
-29.3%
Percent Under Contract ........................................
12.7%
23.7%
87.1%
Average Median Price for Last 12 Months ........
$1,550,750
$1,517,411
-2.2%
Average Median Price for Last 3 Months .......... *Information obtained from Broker Metrics, SOCAL MLS and Foreclosure Radar for all areas in Orange County Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.203
S A L E S
$1.309
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
Balboa Peninsula DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,105,000
$1,650,000
49.3%
Average Price per Square Foot ...........................
$520
$1,036
99.2%
Properties Sold .......................................................
2
3
50.0%
Properties Pending Sale .......................................
0
7
N/A
Properties For Sale ................................................
55
70
27.3%
Days on Market (Pending Sale) ...........................
0
131
N/A
Month’s Supply of Inventory ................................
27.5
23.3
-15.2%
Percent Under Contract ........................................
0.0%
10.0%
N/A
Average Median Price for Last 12 Months ........
$2,037,000
$2,371,635
14.1%
Average Median Price for Last 3 Months .......... *Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$1.650 $1.105
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
S A L E S
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$2,189,202
PROPERTIES FOR SALE
70
DAYS ON MARKET**
118
SHADOW INVENTORY
43
(92663, 92661 Zip Codes)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Corona del Mar - Spyglass DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,750,000
$1,765,000
0.9%
Average Price per Square Foot ...........................
$693
$666
-3.9%
Properties Sold .......................................................
9
14
55.6%
Properties Pending Sale .......................................
18
20
11.1%
Properties For Sale ................................................
121
110
-9.1%
Days on Market (Pending Sale) ...........................
262
81
-69.1%
Month’s Supply of Inventory ................................
13.4
7.9
-41.6%
Percent Under Contract ........................................
14.9%
18.2%
22.2%
Average Median Price for Last 12 Months ........
$1,846,000
$1,838,231
-0.4%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
$1.890
$1.750
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,838,231
PROPERTIES FOR SALE
110
DAYS ON MARKET**
119
SHADOW INVENTORY
24
(92625 Zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Crystal Cove DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$3,300,000
$2,937,500
-11.0%
Average Price per Square Foot ...........................
$846
$684
-19.1%
Properties Sold .......................................................
6
2
-66.7%
Properties Pending Sale .......................................
1
2
100.0%
Properties For Sale ................................................
28
32
14.3%
Days on Market (Pending Sale) ...........................
41
116
182.9%
Month’s Supply of Inventory ................................
4.7
16
242.9%
Percent Under Contract ........................................
3.6%
6.3%
75.0%
Average Median Price for Last 12 Months ........
$4,477,000
$4,343,295
-3.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
$3.300
MAR
$2.937
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
M E D I A N
S A L E S
(in hundred thousands)
P R I C E
yearly trend
telesintelligence.com
the numbers median sales price**
$2,833,519
PROPERTIES FOR SALE
32
DAYS ON MARKET**
111
SHADOW INVENTORY
52
(92657 zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
East Bluff - Harbor View DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,637,500
$1,199,500
-26.7%
Average Price per Square Foot ...........................
$509
$513
0.8%
Properties Sold .......................................................
12
28
133.3%
Properties Pending Sale .......................................
14
19
35.7%
Properties For Sale ................................................
131
129
-1.5%
Days on Market (Pending Sale) ...........................
90
63
-30.0%
Month’s Supply of Inventory ................................
10.9
4.6
-57.8%
Percent Under Contract ........................................
10.7%
14.7%
37.8%
Average Median Price for Last 12 Months ........
$1,364,000
$1,389,885
1.9%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.199
S A L E S
$1.637
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,389,885
PROPERTIES FOR SALE
129
DAYS ON MARKET**
102
SHADOW INVENTORY
98
(92660 zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
East Costa Mesa DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$750,500
$657,000
-12.5%
Average Price per Square Foot ...........................
$429
$377
-12.1%
Properties Sold .......................................................
10
16
60.0%
Properties Pending Sale .......................................
15
15
0.0%
Properties For Sale ................................................
74
51
-31.1%
Days on Market (Pending Sale) ...........................
120
85
-29.2%
Month’s Supply of Inventory ................................
7.4
3.2
-56.9%
Percent Under Contract ........................................
20.3%
29.4%
45.1%
Average Median Price for Last 12 Months ........
$621,000
$661,585
6.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$657
S A L E S
$750
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$661,585
PROPERTIES FOR SALE
51
DAYS ON MARKET**
81
SHADOW INVENTORY
96
(92627 zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Fountain Valley DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$580,000
$530,000
-8.6%
Average Price per Square Foot ...........................
$284
$285
0.4%
Properties Sold .......................................................
21
27
28.6%
Properties Pending Sale .......................................
28
37
32.1%
Properties For Sale ................................................
154
105
-31.8%
Days on Market (Pending Sale) ...........................
87
55
-36.8%
Month’s Supply of Inventory ................................
7.3
3.9
-47.0%
Percent Under Contract ........................................
18.2%
35.2%
93.8%
Average Median Price for Last 12 Months ........
$579,000
$547,885
-5.7%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
$530
(in hundred thousands)
$580
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$547,885
PROPERTIES FOR SALE
105
DAYS ON MARKET**
72
SHADOW INVENTORY
161
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Huntington Beach DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$580,000
$602,500
3.9%
Average Price per Square Foot ...........................
$362
$335
-7.5%
Properties Sold .......................................................
93
105
12.9%
Properties Pending Sale .......................................
96
165
71.9%
Properties For Sale ................................................
610
448
-26.6%
Days on Market (Pending Sale) ...........................
108
61
-43.5%
Month’s Supply of Inventory ................................
6.6
4.3
-35.0%
Percent Under Contract ........................................
15.7%
36.8%
134.0%
Average Median Price for Last 12 Months ........
$621,000
$598,092
-3.8%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. 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)
$602
$580
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$592,092
PROPERTIES FOR SALE
448
DAYS ON MARKET**
92
SHADOW INVENTORY
470
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Irvine DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$718,000
$670,000
-6.7%
Average Price per Square Foot ...........................
$367
$415
13.1%
Properties Sold .......................................................
67
71
6.0%
Properties Pending Sale .......................................
87
111
27.6%
Properties For Sale ................................................
518
391
-24.5%
Days on Market (Pending Sale) ...........................
85
64
-24.7%
Month’s Supply of Inventory ................................
7.7
5.5
-28.8%
Percent Under Contract ........................................
16.8%
28.4%
69.0%
Average Median Price for Last 12 Months ........
$774,000
$708,876
-9.2%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$670
S A L E S
$718
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$708,876
PROPERTIES FOR SALE
391
DAYS ON MARKET**
85
SHADOW INVENTORY
305
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Laguna Beach DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,287,500
$1,400,000
8.7%
Average Price per Square Foot ...........................
$675
$677
0.3%
Properties Sold .......................................................
20
28
40.0%
Properties Pending Sale .......................................
22
50
127.3%
Properties For Sale ................................................
334
278
-16.8%
Days on Market (Pending Sale) ...........................
235
101
-57.0%
Month’s Supply of Inventory ................................
16.7
9.9
-40.5%
Percent Under Contract ........................................
6.6%
18.0%
173.1%
Average Median Price for Last 12 Months ........
$1,303,000
$1,201,258
-8.5%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. 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)
$1.400
$1.287
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,201,258
PROPERTIES FOR SALE
278
DAYS ON MARKET**
143
SHADOW INVENTORY
108
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Lower Newport Bay - Balboa Island DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$2,150,000
$1,875,000
-12.8%
Average Price per Square Foot ...........................
$894
$700
-21.7%
Properties Sold .......................................................
7
5
-28.6%
Properties Pending Sale .......................................
5
5
0.0%
Properties For Sale ................................................
61
57
-6.6%
Days on Market (Pending Sale) ...........................
65
69
6.2%
Month’s Supply of Inventory ................................
8.7
11.4
30.8%
Percent Under Contract ........................................
8.2%
8.8%
7.0%
Average Median Price for Last 12 Months ........
$2,169,000
$1,978,209
-9.6%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.875
S A L E S
$2.150
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,978,209
PROPERTIES FOR SALE
57
DAYS ON MARKET**
102
SHADOW INVENTORY
142
(92660, 92662, 92663 Zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Newport Beach DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,462,500
$1,200,000
-17.9%
Average Price per Square Foot ...........................
$609
$565
-7.2%
Properties Sold .......................................................
44
45
2.3%
Properties Pending Sale .......................................
39
67
71.8%
Properties For Sale ................................................
444
409
-7.9%
Days on Market (Pending Sale) ...........................
82
83
1.2%
Month’s Supply of Inventory ................................
10.1
9.1
-9.9%
Percent Under Contract ........................................
8.8%
16.4%
86.5%
Average Median Price for Last 12 Months ........
$1,401,000
$1,345,240
-4.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.200
S A L E S
$1.462
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,345,240
PROPERTIES FOR SALE
409
DAYS ON MARKET**
111
SHADOW INVENTORY
166
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Newport Coast DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,800,000
$1,815,000
0.8%
Average Price per Square Foot ...........................
$545
$607
11.4%
Properties Sold .......................................................
9
11
22.2%
Properties Pending Sale .......................................
8
11
37.5%
Properties For Sale ................................................
117
93
-20.5%
Days on Market (Pending Sale) ...........................
125
98
-21.6%
Month’s Supply of Inventory ................................
13.0
8.5
-35.0%
Percent Under Contract ........................................
6.8%
11.8%
73.0%
Average Median Price for Last 12 Months ........
$1,715,000
$1,815,462
5.5%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
S A L E S
$1.815
$1.800
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,815,462
PROPERTIES FOR SALE
93
DAYS ON MARKET**
109
SHADOW INVENTORY
40
**12 month average
acti v e listin g s
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Teles intelligence where data meets reason
March 2012 : Micro Market Report
Newport Heights DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,290,000
$1,046,500
-18.9%
Average Price per Square Foot ...........................
$485
$686
41.4%
Properties Sold .......................................................
5
4
-20.0%
Properties Pending Sale .......................................
3
4
33.3%
Properties For Sale ................................................
32
29
-9.4%
Days on Market (Pending Sale) ...........................
95
86
-9.5%
Month’s Supply of Inventory ................................
6.4
7.25
13.3%
Percent Under Contract ........................................
9.4%
13.8%
47.1%
Average Median Price for Last 12 Months ........
$1,339,000
$1,233,046
-8.6%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.048
S A L E S
$1.290
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,233,046
PROPERTIES FOR SALE
29
DAYS ON MARKET**
83
SHADOW INVENTORY
42
(92663 zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Turtle Ridge DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$2,175,000
$1,600,000
-26.4%
Average Price per Square Foot ...........................
$555
$516
-7.0%
Properties Sold .......................................................
3
1
-66.7%
Properties Pending Sale .......................................
3
3
0.0%
Properties For Sale ................................................
24
27
12.5%
Days on Market (Pending Sale) ...........................
64
162
153.1%
Month’s Supply of Inventory ................................
8.0
27.0
237.5%
Percent Under Contract ........................................
12.5%
11.1%
-11.1%
Average Median Price for Last 12 Months ........
$1,671,000
$1,902,435
12.2%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.600
S A L E S
$2.175
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,902,435
PROPERTIES FOR SALE
27
DAYS ON MARKET**
114
SHADOW INVENTORY
56
(92603 zip codes)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
West Bay - Santa Ana Heights DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,100,000
$1,040,000
-5.5%
Average Price per Square Foot ...........................
$468
$515
10.0%
Properties Sold .......................................................
7
9
28.6%
Properties Pending Sale .......................................
11
16
45.5%
Properties For Sale ................................................
82
56
-31.7%
Days on Market (Pending Sale) ...........................
62
109
75.8%
Month’s Supply of Inventory ................................
11.7
6.2
-46.9%
Percent Under Contract ........................................
13.4%
28.6%
113.0%
Average Median Price for Last 12 Months ........
$1,158,000
$1,094,857
-5.8%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.040
S A L E S
$1.100
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,094,857
PROPERTIES FOR SALE
56
DAYS ON MARKET**
107
SHADOW INVENTORY
98
(92660 zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
West Newport - Lido DATA
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$1,500,000
$1,300,000
-13.3%
Average Price per Square Foot ...........................
$757
$576
-23.9%
Properties Sold .......................................................
11
5
-54.5%
Properties Pending Sale .......................................
6
7
16.7%
Properties For Sale ................................................
81
68
-16.0%
Days on Market (Pending Sale) ...........................
109
61
-44.0%
Month’s Supply of Inventory ................................
7.4
13.6
84.7%
Percent Under Contract ........................................
7.4%
10.3%
39.0%
Average Median Price for Last 12 Months ........
$1,737,000
$1,248,585
-39.1%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.300
S A L E S
$1.500
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$1,248,585
PROPERTIES FOR SALE
68
DAYS ON MARKET**
143
SHADOW INVENTORY
42
(92663 zip code)
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Westminster DATA *
MAR 2011
MAR 2012
% CHANGE
Median Price ..........................................................
$390,000
$375,000
-3.8%
Average Price per Square Foot ...........................
$268
$254
-5.2%
Properties Sold .......................................................
25
29
16.0%
Properties Pending Sale .......................................
35
55
57.1%
Properties For Sale ................................................
221
154
-30.3%
Days on Market (Pending Sale) ...........................
73
59
-19.2%
Month’s Supply of Inventory ................................
8.8
5.3
-39.9%
Percent Under Contract ........................................
15.8%
35.7%
125.5%
Average Median Price for Last 12 Months ........
$1,158,000
$400,308
-189.3%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$375
S A L E S
$390
(in hundred thousands)
P R I C E
yearly trend
MAR
APR
MAY
JUN
Micro Market Report : March 2012
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
telesintelligence.com
the numbers median sales price**
$400,308
PROPERTIES FOR SALE
154
DAYS ON MARKET**
79
SHADOW INVENTORY
240
**12 month average
acti v e listin g s
s h ado w in v entor y
Teles intelligence where data meets reason
March 2012 : Micro Market Report
Purchase Beautifully. 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; and providing extraordinarily thorough customer care. 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 helps you purchase beautifully.
Get the full lending experience at rivierafinancial.com or contact a loan professional by calling 424.203.1850
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References
CONTACTS:
Laron Turley Director of Research, Teles Intelligence laron.turley@telesproperties.com Steve Shull Chief Strategist, Teles Intelligence steve.shull@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:
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Teles intelligence MARCH 2012 | LOS ANGELES | ORANGE COUNTY | SAN GABRIEL | SOUTH BAY Š2012 Teles Properties, Inc. Teles Properties is a registered trademark.