Teles intelligence
micro market report south bay July 2013 | SINGLE FAMILY HOMES REPORT
Navigating Solutions. At Riviera Financial, the business of real estate finance is about much more than loans. It is about offering diverse and competitive products; advising borrowers to make informed choices to support and protect their security; providing extraordinarily thorough customer care; and navigating solutions. Our customers expect and deserve the highest level of service and performance in all of their borrowing activities. When it comes to dedicated, comprehensive real estate finance, Riviera Financial delivers.
Get the full lending experience at rivierafinancial.com or contact a loan professional by calling 424.203.1850
r i v i e r a f i n a n c i a l . c o m 4 Locations to Serve You | Beverly Hills, Brentwood, Newport Beach & Pasadena Riviera Financial dba Mortgage Capital Partners, Inc. NMLS#239902 California Real Estate #00931610
Reading the Report
“Each Micro Market area contains an analysis of current conditions and past trends. In order to take the most away from this report, it is important to understand how to read each micro market.
The Data presents statistical information about past and current conditions, comparing the previous year’s month to the current month. Each statistic is compiled from sales data during the month of the respective year. It is then analyzed by Percent Change, which is calculated by taking Current Value minus Past Value and then divided by Past Value.
The Numbers is a compilation of important take-away statistics for each area to gain a quick understanding of market conditions. Median Sales Price and Days on market are 12 month averages for the period ending in the current month. The values for Properties for Sale and Shadow Inventory are presented in both text and graphical form to show the relationship of Shadow to Active Inventory.
The Yearly Trend presents the Median Sales Prices for each month during the past year in graphical format to easily visualize the changes and help identify any trends in sales for that micro market.
Median Price:
Days of market (Pending Sale):
A value that separates the upper half
The number of days that properties
of prices from the lower half of prices.
currently in escrow were on the market.
It can be interpreted like an average, however the extreme prices (high and
Month’s Supply of Inventory:
low) don’t hold undue influence.
The number of months it would take to sell all the properties listed for sale at
Average Price per Square Foot:
the current pace of sales and if no new
The price of each property divided by
listings entered the market.
their respective square footage then averaged across all properties sold in
Percent Under Contract:
the area for a given time period.
The ratio of properties for sale to properties pending sale.
Properties Sold:
The number of property transactions
Average Median Price for Last 12:
that closed and transferred ownership.
The Average Median Price for the Last 12 Months is sales data from 12 months
Properties Pending Sale:
ending in the identified month
The number of properties that entered escrow in preparation for sale.
Shadow Inventory:
Properties in Pre-Foreclosure, Bank Properties For Sale:
Owned or Auction as identified by
The number of properties on the
ForeclosureRadar.com
market and seeking buyers.
los ang
south bay
san fern
South Bay Macro Market
Palos Verdes
Redondo Beach
Manhattan Beach
Rancho Palos Verdes
Rolling Hills
Micro Market Report : July 2013
telesintelligence.com
geles
orange county
nando
san gabriel Rolling Hills Estates
Torrance
San Pedro
July 2013 : Micro Market Report
South Bay Macro Market DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$1,211,611
$1,281,944
5.8%
Average Price per Square Foot ...........................
$444
$490
10.2%
Properties Sold .......................................................
195
252
29.2%
Properties Pending Sale .......................................
198
226
14.1%
Properties For Sale ................................................
775
718
-7.4%
Days on Market (Pending Sale) ...........................
73
35
-51.8%
Month’s Supply of Inventory ................................
4
2.8
-28.3%
Percent Under Contract ........................................
25.5%
31.5%
23.2%
Average Median Price for Last 12 Months ........
$1,181,500
$1,260,373
6.7%
*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.
$1.281
M E D I A N
S A L E S
(in hundred thousands)
$1.211
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Manhattan Beach DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$1,570,000
$1,575,000
0.3%
Average Price per Square Foot ...........................
$711
$825
16.0%
Properties Sold .......................................................
28
35
25.0%
Properties Pending Sale .......................................
37
28
-24.3%
Properties For Sale ................................................
103
93
-9.7%
Days on Market (Pending Sale) ...........................
51
35
-31.4%
Month’s Supply of Inventory ................................
3.7
2.7
-27.8%
Percent Under Contract ........................................
35.9%
30.1%
-16.2%
Average Median Price for Last 12 Months ........
$1,483,000
$1,588,100
7.1%
*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.
M E D I A N
S A L E S
(in hundred thousands)
$1.575
$1.570
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$1,588,100
PROPERTIES FOR SALE
93
DAYS ON MARKET**
51
shadow inventory
8
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Palos Verdes Estates DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$1,837,500
$1,335,000
-27.3%
Average Price per Square Foot ...........................
$569
$642
12.8%
Properties Sold .......................................................
10
24
140.0%
Properties Pending Sale .......................................
14
16
14.3%
Properties For Sale ................................................
68
69
1.5%
Days on Market (Pending Sale) ...........................
102
64
-37.3%
Month’s Supply of Inventory ................................
6.8
2.9
-57.7%
Percent Under Contract ........................................
20.6%
23.2%
12.6%
Average Median Price for Last 12 Months ........
$1,397,000
$1,592,464
14.0%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
M E D I A N
$1.335
S A L E S
$1.837
(in hundred thousands)
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$1,592,464
PROPERTIES FOR SALE
69
DAYS ON MARKET**
73
shadow inventory
14
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Rancho Palos Verdes DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$882,500
$1,200,000
36.0%
Average Price per Square Foot ...........................
$418
$440
5.3%
Properties Sold .......................................................
28
37
32.1%
Properties Pending Sale .......................................
35
43
22.9%
Properties For Sale ................................................
170
135
-20.6%
Days on Market (Pending Sale) ...........................
99
35
-64.6%
Month’s Supply of Inventory ................................
6.1
3.6
-39.9%
Percent Under Contract ........................................
20.6%
31.9%
54.7%
Average Median Price for Last 12 Months ........
$921,000
$1,016,976
10.4%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
(in hundred thousands)
$1.200
P R I C E
yearly trend
M E D I A N
S A L E S
$882
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$1,016,976
PROPERTIES FOR SALE
135
DAYS ON MARKET**
68
shadow inventory
37
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Redondo Beach DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$810,000
$882,000
8.9%
Average Price per Square Foot ...........................
$431
$535
24.1%
Properties Sold .......................................................
35
38
8.6%
Properties Pending Sale .......................................
26
30
15.4%
Properties For Sale ................................................
92
100
8.7%
Days on Market (Pending Sale) ...........................
65
27
-58.5%
Month’s Supply of Inventory ................................
2.6
2.6
0.1%
Percent Under Contract ........................................
28.3%
30.0%
6.2%
Average Median Price for Last 12 Months ........
$701,000
$803,608
14.6%
*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.
$882
M E D I A N
S A L E S
(in hundred thousands)
$810
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$803,608
PROPERTIES FOR SALE
100
DAYS ON MARKET**
41
shadow inventory
31
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Rolling Hills DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$3,850,000
$4,087,500
6.2%
Average Price per Square Foot ...........................
$829
$742
-10.5%
Properties Sold .......................................................
3
2
-33.3%
Properties Pending Sale .......................................
3
1
-66.7%
Properties For Sale ................................................
23
17
-26.1%
Days on Market (Pending Sale) ...........................
145
11
-92.4%
Month’s Supply of Inventory ................................
7.7
8.5
10.9%
Percent Under Contract ........................................
13.0%
5.9%
-54.9%
Average Median Price for Last 12 Months ........
$2,913,000
$2,738,450
-6.0%
*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.
$4.087
M E D I A N
S A L E S
(in hundred thousands)
$3.850
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$2,738,450
PROPERTIES FOR SALE
17
DAYS ON MARKET**
64
shadow inventory
5
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Rolling Hills Estates DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$979,500
$1,290,000
31.7%
Average Price per Square Foot ...........................
$398
$488
22.6%
Properties Sold .......................................................
4
8
100.0%
Properties Pending Sale .......................................
4
13
225.0%
Properties For Sale ................................................
30
30
0.0%
Days on Market (Pending Sale) ...........................
78
72
-7.7%
Month’s Supply of Inventory ................................
7.5
3.8
-50.0%
Percent Under Contract ........................................
13.3%
43.3%
225.0%
Average Median Price for Last 12 Months ........
$1,111,000
$1,292,250
16.3%
*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)
$1.290
P R I C E
yearly trend
M E D I A N
$979
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$1,292,250
PROPERTIES FOR SALE
30
DAYS ON MARKET**
60
shadow inventory
4
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
San Pedro DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$417,000
$509,000
22.1%
Average Price per Square Foot ...........................
$301
$337
12.0%
Properties Sold .......................................................
30
43
43.3%
Properties Pending Sale .......................................
41
33
-19.5%
Properties For Sale ................................................
158
129
-18.4%
Days on Market (Pending Sale) ...........................
63
48
-23.8%
Month’s Supply of Inventory ................................
5.3
3
-43.0%
Percent Under Contract ........................................
25.9%
25.6%
-1.4%
Average Median Price for Last 12 Months ........
$393,000
$465,251
18.4%
*Information obtained from Broker Metrics, The MLS and Foreclosure Radar for all areas in Los Angeles Mirco Market Report. Statistics are subject to change due to individual real estate company reporting disciplines.
$509
M E D I A N
S A L E S
(in hundred thousands)
$417
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$465,251
PROPERTIES FOR SALE
129
DAYS ON MARKET**
65
shadow inventory
65
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 2013 : Micro Market Report
Torrance DATA*
Jul 2012
Jul 2013
% CHANGE
Median Price ..........................................................
$558,000
$659,000
18.1%
Average Price per Square Foot ...........................
$343
$398
16.0%
Properties Sold .......................................................
57
65
14.0%
Properties Pending Sale .......................................
38
62
63.2%
Properties For Sale ................................................
131
145
10.7%
Days on Market (Pending Sale) ...........................
51
23
-54.9%
Month’s Supply of Inventory ................................
2.3
2.2
-2.9%
Percent Under Contract ........................................
29.0%
42.8%
47.4%
Average Median Price for Last 12 Months ........
$533,000
$585,885
9.9%
*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.
$659
M E D I A N
S A L E S
(in hundred thousands)
$558
P R I C E
yearly trend
Jul
Aug
Sep
Oct
Micro Market Report : July 2013
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
telesintelligence.com
the numbers median sales price**
$585,885
PROPERTIES FOR SALE
145
DAYS ON MARKET**
42
shadow inventory
87
**12 month average
active listings
s h ado w i n v e n t o r y
Teles intelligence where data meets reason
July 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.
> >
424.203.1841 p o r t f o l i o e s c r o w. c o m
Š 2011 Portfolio Escrow, Inc. All Rights Reserved
References
CONTACTS:
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 July 2013 | LOS ANGELES | ORANGE COUNTY | SAN FERNANDO | SAN GABRIEL | SOUTH BAY Š2013 Teles Properties, Inc. Teles Properties is a registered trademark.