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Teles intelligence

micro market report condominiums December 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 : December 2013


telesintelligence.com

bay

los angeles

e county

san fernando

Studio City

West LA

Venice

Westwood - Century City

West Hollywood

December 2013 : Micro Market Report


Beverly Center - Miracle Mile DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$452,000

$825,000

82.5%

Average Price per Square Foot ...........................

$353

$522

47.9%

Properties Sold .......................................................

1

9

800.0%

Properties Pending Sale .......................................

7

3

-57.1%

Properties For Sale ................................................

24

22

-8.3%

Days on Market (Pending Sale) ...........................

60

80

33.3%

Month’s Supply of Inventory ................................

24

2.4

-89.8%

Percent Under Contract ........................................

29.2%

13.6%

-53.2%

Average Median Price for Last 12 Months ........

$525,000

$615,850

17.3%

*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.

S A L E S

(in hundred thousands)

$825

P R I C E

yearly trend

M E D I A N

$452

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$615,850

PROPERTIES FOR SALE

22

DAYS ON MARKET**

42

shadow inventory

6

(6.0)

**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

December 2013 : Micro Market Report


Beverly Hills DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$840,000

$912,500

8.6%

Average Price per Square Foot ...........................

$456

$552

21.1%

Properties Sold .......................................................

13

8

-38.5%

Properties Pending Sale .......................................

10

4

-60.0%

Properties For Sale ................................................

55

47

-14.5%

Days on Market (Pending Sale) ...........................

71

145

104.2%

Month’s Supply of Inventory ................................

4.2

5.9

38.9%

Percent Under Contract ........................................

18.2%

8.5%

-53.2%

Average Median Price for Last 12 Months ........

$901,000

$876,135

-2.8%

*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.

$912

M E D I A N

S A L E S

(in hundred thousands)

$840

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$876,135

PROPERTIES FOR SALE

47

DAYS ON MARKET**

73

shadow inventory

12

**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

December 2013 : Micro Market Report


Brentwood DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$771,250

$767,500

-0.5%

Average Price per Square Foot ...........................

$475

$511

7.6%

Properties Sold .......................................................

12

20

66.7%

Properties Pending Sale .......................................

11

10

-9.1%

Properties For Sale ................................................

65

59

-9.2%

Days on Market (Pending Sale) ...........................

91

58

-36.3%

Month’s Supply of Inventory ................................

5.4

3

-45.5%

Percent Under Contract ........................................

16.9%

16.9%

0.2%

Average Median Price for Last 12 Months ........

$632,000

$703,213

11.3%

*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.

$771

M E D I A N

S A L E S

(in hundred thousands)

$767

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$703,213

PROPERTIES FOR SALE

59

DAYS ON MARKET**

47

shadow inventory

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

December 2013 : Micro Market Report


Culver City DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$296,000

$402,500

36.0%

Average Price per Square Foot ...........................

$307

$389

26.7%

Properties Sold .......................................................

10

8

-20.0%

Properties Pending Sale .......................................

9

10

11.1%

Properties For Sale ................................................

23

33

43.5%

Days on Market (Pending Sale) ...........................

62

35

-43.5%

Month’s Supply of Inventory ................................

2.3

4.1

79.3%

Percent Under Contract ........................................

39.1%

30.3%

-22.6%

Average Median Price for Last 12 Months ........

$289,000

$382,967

32.5%

*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)

$402

P R I C E

yearly trend

M E D I A N

$296

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$382,967

PROPERTIES FOR SALE

33

DAYS ON MARKET**

32

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

December 2013 : Micro Market Report


Encino DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$227,000

$303,000

33.5%

Average Price per Square Foot ...........................

$229

$248

8.3%

Properties Sold .......................................................

17

10

-41.2%

Properties Pending Sale .......................................

10

18

80.0%

Properties For Sale ................................................

18

31

72.2%

Days on Market (Pending Sale) ...........................

46

69

50.0%

Month’s Supply of Inventory ................................

1.1

3.1

192.8%

Percent Under Contract ........................................

55.6%

58.1%

4.5%

Average Median Price for Last 12 Months ........

$203,000

$275,385

35.7%

*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)

$303

P R I C E

yearly trend

M E D I A N

S A L E S

$227

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$275,385

PROPERTIES FOR SALE

31

DAYS ON MARKET**

53

shadow inventory

16

**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

December 2013 : Micro Market Report


Malibu DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$520,000

$753,500

44.9%

Average Price per Square Foot ...........................

$398

$554

39.2%

Properties Sold .......................................................

3

2

-33.3%

Properties Pending Sale .......................................

1

5

400.0%

Properties For Sale ................................................

30

21

-30.0%

Days on Market (Pending Sale) ...........................

146

54

-63.0%

Month’s Supply of Inventory ................................

10

10.5

5.0%

Percent Under Contract ........................................

3.3%

23.8%

614.3%

Average Median Price for Last 12 Months ........

$622,000

$692,000

11.3%

*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.

S A L E S

(in hundred thousands)

$753

P R I C E

yearly trend

M E D I A N

$520

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$692,000

PROPERTIES FOR SALE

21

DAYS ON MARKET**

107

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

December 2013 : Micro Market Report


Marina Del Rey DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$621,500

$672,500

8.2%

Average Price per Square Foot ...........................

$538

$476

-11.5%

Properties Sold .......................................................

18

34

88.9%

Properties Pending Sale .......................................

15

21

40.0%

Properties For Sale ................................................

108

132

22.2%

Days on Market (Pending Sale) ...........................

52

95

82.7%

Month’s Supply of Inventory ................................

6

3.9

-35.3%

Percent Under Contract ........................................

13.9%

15.9%

14.5%

Average Median Price for Last 12 Months ........

$578,000

$695,389

20.3%

*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

S A L E S

(in hundred thousands)

$672

$621

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$695,389

PROPERTIES FOR SALE

132

DAYS ON MARKET**

69

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

December 2013 : Micro Market Report


Santa Monica DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$660,000

$780,000

18.2%

Average Price per Square Foot ...........................

$619

$639

3.2%

Properties Sold .......................................................

49

35

-28.6%

Properties Pending Sale .......................................

22

21

-4.5%

Properties For Sale ................................................

80

89

11.2%

Days on Market (Pending Sale) ...........................

82

54

-34.1%

Month’s Supply of Inventory ................................

1.6

2.5

55.8%

Percent Under Contract ........................................

27.5%

23.6%

-14.2%

Average Median Price for Last 12 Months ........

$725,000

$757,861

4.5%

*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.

$780

M E D I A N

S A L E S

(in hundred thousands)

$660

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$757,861

PROPERTIES FOR SALE

89

DAYS ON MARKET**

46

shadow inventory

27

**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

December 2013 : Micro Market Report


Sherman Oaks DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$300,000

$394,000

31.3%

Average Price per Square Foot ...........................

$235

$305

29.8%

Properties Sold .......................................................

16

18

12.5%

Properties Pending Sale .......................................

15

13

-13.3%

Properties For Sale ................................................

13

22

69.2%

Days on Market (Pending Sale) ...........................

67

66

-1.5%

Month’s Supply of Inventory ................................

0.8

1.2

50.4%

Percent Under Contract ........................................

115.4%

59.1%

-48.8%

Average Median Price for Last 12 Months ........

$290,308

$354,769

22.2%

*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)

$394

P R I C E

yearly trend

M E D I A N

S A L E S

$300

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$354,769

PROPERTIES FOR SALE

22

DAYS ON MARKET**

54

shadow inventory

26

**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

December 2013 : Micro Market Report


Studio City DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$417,000

$507,000

21.6%

Average Price per Square Foot ...........................

$317

$383

20.8%

Properties Sold .......................................................

8

10

25.0%

Properties Pending Sale .......................................

4

5

25.0%

Properties For Sale ................................................

7

22

214.3%

Days on Market (Pending Sale) ...........................

54

45

-16.7%

Month’s Supply of Inventory ................................

0.9

2.2

151.4%

Percent Under Contract ........................................

57.1%

22.7%

-60.2%

Average Median Price for Last 12 Months ........

$408,538

$448,385

9.8%

*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.

$507

M E D I A N

S A L E S

(in hundred thousands)

$417

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$448,385

PROPERTIES FOR SALE

22

DAYS ON MARKET**

52

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

December 2013 : Micro Market Report


Venice DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$980,000

$1,185,000

20.9%

Average Price per Square Foot ...........................

$593

$608

2.5%

Properties Sold .......................................................

4

3

-25.0%

Properties Pending Sale .......................................

3

0

-100.0%

Properties For Sale ................................................

11

8

-27.3%

Days on Market (Pending Sale) ...........................

68

0

-100.0%

Month’s Supply of Inventory ................................

2.8

2.7

-3.0%

Percent Under Contract ........................................

27.3%

0.0%

-100.0%

Average Median Price for Last 12 Months ........

$907,000

$1,115,462

23.0%

*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)

$1.185

P R I C E

yearly trend

M E D I A N

$980

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$1,115,462

PROPERTIES FOR SALE

8

DAYS ON MARKET**

69

shadow inventory

2

**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

December 2013 : Micro Market Report


West Hollywood DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$595,000

$639,000

7.4%

Average Price per Square Foot ...........................

$456

$524

14.9%

Properties Sold .......................................................

29

35

20.7%

Properties Pending Sale .......................................

21

17

-19.0%

Properties For Sale ................................................

100

101

1.0%

Days on Market (Pending Sale) ...........................

67

46

-31.3%

Month’s Supply of Inventory ................................

3.4

2.9

-16.3%

Percent Under Contract ........................................

21.0%

16.8%

-19.8%

Average Median Price for Last 12 Months ........

$432,000

$554,981

28.5%

*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)

$639

$595

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$554,981

PROPERTIES FOR SALE

101

DAYS ON MARKET**

48

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

December 2013 : Micro Market Report


West LA DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$620,000

$762,250

22.9%

Average Price per Square Foot ...........................

$408

$457

12.0%

Properties Sold .......................................................

14

12

-14.3%

Properties Pending Sale .......................................

6

12

100.0%

Properties For Sale ................................................

28

41

46.4%

Days on Market (Pending Sale) ...........................

110

42

-61.8%

Month’s Supply of Inventory ................................

2

3.4

70.8%

Percent Under Contract ........................................

21.4%

29.3%

36.6%

Average Median Price for Last 12 Months ........

$540,000

$651,288

20.6%

*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.

$762

M E D I A N

S A L E S

(in hundred thousands)

$620

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$651,288

PROPERTIES FOR SALE

41

DAYS ON MARKET**

45

shadow inventory

18

(18.0)

**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

December 2013 : Micro Market Report


Westwood - Century City DATA*

Dec 2012

Dec 2013

% CHANGE

Median Price ..........................................................

$633,000

$720,000

13.7%

Average Price per Square Foot ...........................

$483

$668

38.3%

Properties Sold .......................................................

40

36

-10.0%

Properties Pending Sale .......................................

30

26

-13.3%

Properties For Sale ................................................

195

245

25.6%

Days on Market (Pending Sale) ...........................

84

89

6.0%

Month’s Supply of Inventory ................................

4.9

6.8

39.6%

Percent Under Contract ........................................

15.4%

10.6%

-31.0%

Average Median Price for Last 12 Months ........

$597,000

$695,729

16.5%

*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

$633

(in hundred thousands)

$720

P R I C E

yearly trend

Dec

Jan

Feb

Mar

Micro Market Report : December 2013

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


telesintelligence.com

the numbers median sales price**

$695,729

PROPERTIES FOR SALE

245

DAYS ON MARKET**

67

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

December 2013 : 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.

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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 December 2013 | CONDOMINIUMS IN SELECT AREAS Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.

Condominium Micro Market Report: December 2013  
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