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micro market report condominiums September 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 : September 2013


telesintelligence.com

bay

los angeles

e county

san fernando

Studio City

West LA

Venice

Westwood - Century City

West Hollywood

September 2013 : Micro Market Report


Beverly Center - Miracle Mile DATA*

Sep 2012

Sep 2013

% CHANGE

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

$550,000

$585,000

6.4%

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

$393

$443

12.7%

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

7

6

-14.3%

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

6

7

16.7%

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

31

34

9.7%

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

29

57

96.6%

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

4.4

5.7

28.0%

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

19.4%

20.6%

6.4%

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

$492,000

$565,504

14.9%

*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.

M E D I A N

S A L E S

$585

$550

(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**

$565,504

PROPERTIES FOR SALE

34

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

September 2013 : Micro Market Report


Beverly Hills DATA*

Sep 2012

Sep 2013

% CHANGE

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

$955,840

$886,000

-7.3%

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

$811

$480

-40.8%

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

10

6

-40.0%

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

10

8

-20.0%

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

62

43

-30.6%

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

67

39

-41.8%

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

6.2

7.2

15.6%

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

16.1%

18.6%

15.3%

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

$948,000

$848,430

-10.5%

*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.

$955

M E D I A N

S A L E S

(in hundred thousands)

$886

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**

$848,430

PROPERTIES FOR SALE

43

DAYS ON MARKET**

74

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


Brentwood DATA*

Sep 2012

Sep 2013

% CHANGE

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

$624,500

$670,000

7.3%

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

$444

$512

15.3%

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

12

20

66.7%

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

11

12

9.1%

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

69

65

-5.8%

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

96

47

-51.0%

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

5.8

3.2

-43.5%

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

15.9%

18.5%

15.8%

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

$600,000

$688,240

14.7%

*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.

$670

M E D I A N

S A L E S

(in hundred thousands)

$624

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**

$688,240

PROPERTIES FOR SALE

65

DAYS ON MARKET**

54

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

September 2013 : Micro Market Report


Culver City DATA*

Sep 2012

Sep 2013

% CHANGE

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

$287,000

$397,500

38.5%

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

$289

$369

27.7%

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

15

18

20.0%

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

12

9

-25.0%

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

37

31

-16.2%

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

32

19

-40.6%

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

2.5

1.7

-30.2%

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

32.4%

29.0%

-10.5%

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

$273,000

$366,844

34.4%

*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.

S A L E S

(in hundred thousands)

$397

P R I C E

yearly trend

M E D I A N

$287

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**

$366,844

PROPERTIES FOR SALE

31

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

September 2013 : Micro Market Report


Encino DATA*

Sep 2012

Sep 2013

% CHANGE

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

$150,000

$325,000

116.7%

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

$172

$229

33.1%

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

12

13

8.3%

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

21

15

-28.6%

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

21

24

14.3%

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

70

71

1.4%

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

1.8

1.8

5.5%

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

100.0%

62.5%

-37.5%

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

$198,692

$255,000

28.3%

*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)

$325

P R I C E

yearly trend

M E D I A N

$150

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**

$255,000

PROPERTIES FOR SALE

24

DAYS ON MARKET**

56

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

September 2013 : Micro Market Report


Malibu DATA*

Sep 2012

Sep 2013

% CHANGE

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

$685,000

$0

-100.0%

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

$395

$0

-100.0%

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

3

0

-100.0%

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

3

4

33.3%

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

33

26

-21.2%

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

108

98

-9.3%

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

11

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

9.1%

15.4%

69.2%

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

$567,000

$654,917

15.5%

%

*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.

P R I C E

yearly trend

M E D I A N

S A L E S

(in hundred thousands)

$685

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**

$654,917

PROPERTIES FOR SALE

26

DAYS ON MARKET**

116

shadow inventory

9

**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


Marina Del Rey DATA*

Sep 2012

Sep 2013

% CHANGE

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

$665,000

$750,156

12.8%

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

$463

$533

15.1%

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

20

18

-10.0%

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

20

18

-10.0%

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

132

156

18.2%

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

69

87

26.1%

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

6.6

8.7

31.3%

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

15.2%

11.5%

-23.8%

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

$567,000

$680,966

20.1%

*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.

$750

M E D I A N

S A L E S

(in hundred thousands)

$665

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**

$680,966

PROPERTIES FOR SALE

156

DAYS ON MARKET**

70

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


Santa Monica DATA*

Sep 2012

Sep 2013

% CHANGE

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

$695,000

$850,000

22.3%

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

$585

$695

18.8%

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

35

37

5.7%

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

29

31

6.9%

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

116

107

-7.8%

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

85

32

-62.4%

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

3.3

2.9

-12.7%

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

25.0%

29.0%

15.9%

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

$730,000

$744,034

1.9%

*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.

$850

M E D I A N

S A L E S

(in hundred thousands)

$695

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**

$744,034

PROPERTIES FOR SALE

107

DAYS ON MARKET**

55

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

September 2013 : Micro Market Report


Sherman Oaks DATA*

Sep 2012

Sep 2013

% CHANGE

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

$318,000

$405,000

27.4%

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

$232

$302

30.2%

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

28

21

-25.0%

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

19

24

26.3%

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

25

26

4.0%

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

109

45

-58.7%

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

0.9

1.2

38.7%

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

76.0%

92.3%

21.5%

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

$292,385

$335,692

14.8%

*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.

$405

M E D I A N

S A L E S

(in hundred thousands)

$318

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**

$335,692

PROPERTIES FOR SALE

26

DAYS ON MARKET**

62

shadow inventory

31

**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


Studio City DATA*

Sep 2012

Sep 2013

% CHANGE

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

$311,000

$440,000

41.5%

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

$256

$358

39.8%

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

8

9

12.5%

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

2

9

350.0%

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

16

25

56.2%

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

102

63

-38.2%

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

2

2.8

38.9%

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

12.5%

36.0%

188.0%

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

$402,231

$434,231

8.0%

*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)

$440

P R I C E

yearly trend

M E D I A N

$311

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**

$434,231

PROPERTIES FOR SALE

25

DAYS ON MARKET**

59

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

September 2013 : Micro Market Report


Venice DATA*

Sep 2012

Sep 2013

% CHANGE

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

$0

$572,000

%

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

$0

$599

%

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

0

3

%

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

6

7

16.7%

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

17

21

23.5%

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

96

28

-70.8%

7

%

Month’s Supply of Inventory ................................ Percent Under Contract ........................................

35.3%

33.3%

-5.6%

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

$898,000

$1,115,792

24.3%

*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.

Sep

Oct

Nov

Dec

Micro Market Report : September 2013

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

S A L E S M E D I A N

$572

(in hundred thousands)

P R I C E

yearly trend


telesintelligence.com

the numbers median sales price**

$1,115,792

PROPERTIES FOR SALE

21

DAYS ON MARKET**

67

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

September 2013 : Micro Market Report


West Hollywood DATA*

Sep 2012

Sep 2013

% CHANGE

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

$442,500

$468,000

5.8%

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

$447

$537

20.1%

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

34

31

-8.8%

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

18

31

72.2%

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

120

143

19.2%

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

54

49

-9.3%

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

3.5

4.6

30.7%

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

15.0%

21.7%

44.5%

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

$425,000

$494,228

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.

M E D I A N

S A L E S

(in hundred thousands)

$468

$442

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**

$494,228

PROPERTIES FOR SALE

143

DAYS ON MARKET**

52

shadow inventory

22

**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


West LA DATA*

Sep 2012

Sep 2013

% CHANGE

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

$640,000

$639,000

-0.2%

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

$406

$446

9.9%

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

7

11

57.1%

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

13

8

-38.5%

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

63

46

-27.0%

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

49

52

6.1%

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

9

4.2

-53.5%

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

20.6%

17.4%

-15.7%

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

$505,000

$631,885

25.1%

*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.

$640

M E D I A N

S A L E S

(in hundred thousands)

$639

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**

$631,885

PROPERTIES FOR SALE

46

DAYS ON MARKET**

51

shadow inventory

20

(20.0)

**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

September 2013 : Micro Market Report


Westwood - Century City DATA*

Sep 2012

Sep 2013

% CHANGE

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

$570,000

$731,033

28.3%

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

$420

$600

42.9%

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

44

55

25.0%

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

31

40

29.0%

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

256

300

17.2%

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

90

59

-34.4%

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

5.8

5.5

-6.3%

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

12.1%

13.3%

10.1%

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

$582,000

$654,076

12.4%

*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.

$731

M E D I A N

S A L E S

(in hundred thousands)

$570

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**

$654,076

PROPERTIES FOR SALE

300

DAYS ON MARKET**

73

shadow inventory

41

(41.0)

**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

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:

Teles Intelligence 11990 San Vicente Blvd, Suite 100 Los Angeles, Ca 90049

Phone:

424.203.1800 email:

info@telesintelligence.com


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


Condominium Micro Market Report: September 2013