Real Estate Market Report 2012

Prepared by:

The Lesser’s

WHAT IS A MARKET WITHIN A MARKET?

Just as the weather is different from Los Feliz to Santa Monica so is the Real Estate climate. While it

may be cloudy & overcast in Marina del Rey, at the same exact time, it may be warm & sunny in

the Mid Wilshire area. The Real Estate market works the same way. Year-to-year there may be a

significant sales increase in Venice while at the same time there is an alarming drop in sales price

from the Palms – Mar Vista area even though they are literally blocks from one another.

With our vast years of experience, we at Keller Williams have come to notice that like the need for

a sweater by the beach and a T-shirt in the Valley, every market within a market has a very different

climate and therefore requires its own set of statistics for you to truly understand what is going on in

your neighborhood. Although you can easily access the broad national, state, and/or country

trends published by the media, they may not have anything to do with what is occurring in your

own backyard. After all, you wouldn’t watch a weather channel report for Seattle to decide if you

need an umbrella that day would you?

WHY THIS BENEFITS YOU – OUR CLIENT

Our extensive experience & knowledge has led us to notice that markets within

markets may be performing in a different way from one another and from national

averages.

With the current stringent lending situation, having knowledge of the specialized

market trends for the neighborhood you are contemplating is vital for true success in

your transaction.

Don’t be mislead by ideas that are not actual facts.

What is in fact occurring in the markets of those areas may be counterintuitive of

notions or ideas you may have perceived from national averages. Knowledge is

power and knowing all the facts will give you the power to make the most educated

choice.

$1,117,500

$552

8.0

17.0

178.0

98.2

8.6

9.55%

$2,622,000

$850

15.0

19.0

137.0

91.7

5.3

13.87%

134.6%

54.0%

87.5%

11.8%

-23.0%

-6.6%

-38.5%

45.2%

BEL AIR – HOMBLY HILLS SFR

Median Price ……………………..…….

Average Price per Square Foot ….…

Properties Sold ……………………….

Properties Pending Sale ………………

Properties For Sale …………….……...

Days on Market (Pending Sale) ….…..

Month’s supply of Inventory……….…

Percent Under Contract ………….……









MAR. 2011 MAR. 2012 % CHANGE

$932,000

$489

11.0

14.0

106.0

48.1

5.6

13.21%

$772,000

$436

12.0

22.0

72.0

46.8

2.0

30.56%

-17.1%

-10.8%

9.1%

57.1%

-32.1%

-2.8%

64.6%

131.3%

BEVERLY CENTER – MIRACLE MILE SFR


















$605,000

$377

8.0

4.0

41.0

132.0

7.8

9.76%

$545,000

$388

8.0

1.0

27.0

127.0

19.0

3.7%

-9.9%

2.9%

0.0%

-75.0%

-34.1%

-3.8%

145.2%

-62.0%

BEVERLY CENTER – MIRACLE MILE CONDO


















$2,942,500

$858

14.0

8.0

148.0

128.1

15.6

5.41%

$4,050,000

$950

19.0

16.0

124.0

137.6

5.8

12.90%

37.6%

10.7%

35.7%

100.0%

-16.2%

7.4%

-9.9%

138.7%

BEVERLY HILLS SFR


















$830,00

$754

9.0

6.0

107.0

146.8

14.0

5.61%

$835,000

$677

11.0

9.0

80.0

85.7

6.6

11.25%

0.6%

-10.2%

22.2%

50.0%

-25.2%

-41.7%

-53.2%

100.6%

BEVERLY HILLS CONDO


















$2,221,250

$618

12.0

19.0

183.0

96.5

7.8

10.38%

$1,775,000

$549

11.0

24.0

144.0

92.3

3.9

16.67%

-20.1%

-11.2%

-8.3%

26.3%

-21.3%

-4.3%

-50.1%

60.5%

BEVERLY HILLS P.O. SFR


















$639,500

$393

2.0

11.0

88.0

49.5

6.5

12.50%

$795,000

$442

13.0

12.0

52.0

25.1

2.8

23.08%

24.3%

12.5%

550.0%

9.1%

-40.9%

-49.4%

-57.4%

84.6%

BEVERLYWOOD SFR


















$1,675,000

$964

13.0

19.0

163.0

47.9

6.7

11.66%

$1,685,000

$656

17.0

17.0

138.0

78.9

5.7

12.32%

0.6%

-32.0%

30.8%

-10.5%

-15.3%

64.8%

-14.6%

5.7%

BRENTWOOD SFR


















$845,000

$469

7.0

17.0

139.0

120.4

6.6

12.23%

$842,000

$451

10.0

20.0

83.0

72.8

2.4

24.10%

-0.4%

-3.8%

42.9%

17.6%

-40.3%

-39.6%

-64.3%

97.0%

BRENTWOOD CONDO


















$482,000

$358.22

47

NA

NA

84

NA

NA%

$471,500

$331.89

52

93

NA

75

NA

NA%

-2.2%

-7.4%

10.6%

NA%

NA%

-10.7%

NA%

NA%

BURBANK SFR


















$312,000

$256.40

16

NA

NA

NA

NA

NA%

$277,000

$231.85

13

44

NA

NA

NA

NA %

-11.2%

-9.6%

18.8%

NA%

NA%

NA%

NA%

NA%

BURBANK CONDO


















$815,000

$279

5.0

3.0

37.0

123.0

10.7

8.11%

$950,000

$304

19.0

60.0

100.0

114.0

NA

NA%

16.6%

9.0%

280.0%

1,900.0%

170.3%

-7.3%

NA%

NA%

CALABASAS SFR


















$256,500

$243

1.0

NA

2.0

NA

NA

NA%

$387,000

$234

3.0

14.0

10.0

151.0

NA

NA%

50.9%

-3.7%

200.0%

NA%

400.0%

NA%

NA%

NA%

CALABASAS CONDO


















$829,000

$375

5.0

1.0

78.0

3.0

73.0

1.28%

$750,000

$325

35.0

109.0

75.0

71.0

NA

NA%

-9.5%

-13.3%

600.0%

10,800.0%

-3.8%

2,266.7%

NA%

NA%

ENCINO SFR


















$175,000

$166

1.0

1.0

21.0

49.0

18.0

4.76%

$283,500

$186

16.0

53.0

33.0

95.0

NA

NA%

62.0%

12.0%

1500.0%

5,200.0%

57.1%

93.9%

NA%

NA%

ENCINO CONDO


















$628,000

$328.94

47

NA

NA

80

NA

NA%

$543,500

$305.39

48

54

NA

85

NA

NA%

-13.5%

-7.2%

2.1%

NA%

NA%

6.3%

NA%

NA%

GLENDALE SFR


















$288,000

$246.35

40

NA

NA

78

NA

NA%

$255,000

$214.22

32

38

NA

82

NA

NA%

-11.5%

-13.0%

-20.0%

NA%

NA%

5.1%

NA%

NA%

GLENDALE CONDO


















$427,000

$184

4.0

4.0

23.0

57.2

4.5

17.39%

$338,500

$317

5.0

7.0

20.0

57.1

1.6

35.0%

-20.8%

72.3%

25.0%

75.0%

-13.0%

-0.2%

-65.1%

101.2%

HOLLYWOOD SFR


















$282,000

$319

10.0

10.0

83.0

94.4

7.0

12.05%

$506,500

$376

6.0

7.0

60.0

61.9

7.3

11.67%

79.6%

17.9%

-40.0%

-30.0%

-27.7%

-34.5%

4.1%

-3.2%

HOLLYWOOD CONDO


















$792,500

$392

10.0

12.0

95.0

57.6

6.1

12.63%

$1,130,000

$454

9.0

16.0

73.0

53.6

2.7

21.92%

42.6%

15.8%

-10.0%

33.3%

-23.2%

-6.9%

-55.8%

73.5%

HOLLYWOOD HILLS EAST SFR


















$975,000

$486

13.0

19.0

97.0

27.8

3.4

19.59%

$929,000

$520

21.0

12.0

75.0

61.7

3.9

16.0%

-4.7%

7.0%

61.5%

-36.8%

-22.7%

121.9%

16.3%

-18.3%

LOS FELIZ SFR


















$378,000

$358

3.0

12.0

%

$368,000

$357

4.0

3.0

12.0

75.0

3.0

25.0%

-2.6%

-0.3%

33.3%

%

0.0%

%

%

%

LOS FELIZ CONDO


















$1,200,000

$716

11.0

11.0

283.0

129.4

23.0

3.89%

$1,218,750

$504

14.0

13.0

224.0

91.0

14.2

5.8%

1.6%

-29.6%

27.3%

18.2%

-20.8%

-29.7%

-38.5%

49.3%

MALIBU SFR


















$5,184,000

$1,415

3.0

2.0

112.0

154.5

48.0

1.79%

$5,250,000

$1,812

5.0

9.0

90.0

218.6

7.8

10.0%

1.3%

28.1%

66.7%

350.0%

-19.6%

41.5%

-83.8%

460.0%

MALIBU BEACH SFR


















$1,398,500

$424

2.0

4.0

40.0

60.8

8.2

10.0%

$

$

8.0

37.0

46.2

3.0

21.62%

%

%

%

100.0%

-7.5%

-23.9%

-63.6%

116.2%

MARINA DEL REY SFR


















$635,000

$500

22.0

17.0

219.0

72.4

10.8

7.76%

$509,000

$403

15.0

22.0

162.0

58.9

4.9

13.58%

-19.8%

-19.4%

-31.8%

29.4%

-26.0%

-18.7%

-54.8%

74.9%

MARINA DEL REY CONDO


















$380,000

$220

1.0

39.0

%

$400,000

$209

4.0

6.0

25.0

68.0

2.3

24.0%

5.3%

-5.0%

300.0%

%

-35.9%

%

%

%

NORTHRIDGE SFR


















$375,000

$245

2.0

1.0

8.0

43.0

6.0

12.5%

$278,000

$178

3.0

1.0

3.0

308.0

1.0

33.33%

-25.9%

-27.3%

50.0%

0.0%

-62.5%

616.3%

-83.3%

166.7%

NORTHRIDGE CONDO


















$2,020,500

$699

22.0

34.0

191.0

59.0

4.0

17.8%

$1,629,000

$576

19.0

30.0

150.0

61.4

3.2

20.0%

-19.4%

-17.6%

-13.6%

-11.8%

-21.5%

4.1%

-20.6%

12.4%

PACIFIC PALISADES SFR


















$1,500,000

$743

21.0

19.0

120.0

78.9

4.9

15.83%

$1,711,500

$740

21.0

21.0

110.0

34.0

3.5

19.09%

14.1%

-0.4%

0.0%

10.5%

-8.3%

-56.9%

-29.0%

20.6%

SANTA MONICA SFR


















$667,500

$526

34.0

31.0

232.0

67.3

5.7

13.36%

$655,500

$563

34.0

46.0

165.0

52.3

2.1

27.88%

-1.8%

7.0%

0.0%

48.4%

-28.9%

-22.2%

-62.9%

108.6%

SANTA MONICA CONDO


















$615,000

$416

9.0

11.0

105.0

32.2

7.5

10.48%

$640,000

$315

45.0

105.0

134.0

94.0

NA

NA%

4.1%

-24.3%

400.0%

854.5%

27.6%

191.9%

NA%

NA%

SHERMAN OAKS SFR


















$311,000

$243

5.0

5.0

39.0

75.0

6.2

12.82%

$305,000

$233

21.0

73.0

53.0

96.0

NA

NA%

-1.9%

-4.1%

320.0%

1360.0%

35.9%

28.0%

NA%

NA%

SHERMAN OAKS CONDO


















$634,000

$353

18.0

15.0

107.0

46.5

5.6

14.02%

$625,000

$432

23.0

23.0

79.0

68.0

2.1

29.11%

-1.4%

22.4%

27.8%

53.3%

-26.2%

46.2%

-62.0%

107.7%

SILVER LAKE – ECHO PARK SFR


















$1,115,000

$383

7.0

12.0

83.0

77.6

5.0

14.46%

$730,250

$380

24.0

59.0

77.0

91.0

NA

NA%

-34.5%

-0.8%

242.9%

391.7%

-7.2%

17.3%

NA%

NA%

STUDIO CITY SFR


















$473,500

$323

2.0

6.0

33.0

58.2

4.3

18.18%

$477,000

$282

11.0

37.0

20.0

86.0

NA

NA%

0.7%

-12.7%

450.0%

516.7%

-39.4%

47.8%

NA%

NA%

STUDIO CITY CONDO


















$840,000

$679

17.0

18.0

125.0

78.9

5.2

14.40%

$1,000,000

$589

9.0

23.0

103.0

70.9

2.4

22.33%

19.0%

-13.3%

-47.1%

27.8%

-17.6%

-10.2%

-52.9%

55.1%

VENICE SFR


















$582,000

$570

2.0

2.0

33.0

88.0

11.5

6.06%

$1,125,000

$498

4.0

5.0

26.0

127.4

3.2

15.38%

93.3%

-12.6%

100.0%

150.0%

-21.2%

44.8%

-72.2%

153.8%

VENICE CONDO


















Glossary of Terms

Median Price: A value that separates the upper

half of prices from the lower half of prices. It can

be interpreted like an average, however the

extreme prices (high and low) don’t hold

undue.

Average Price per Square Foot: The price per

each property divided by their respective

square footage then averaged across all

properties sold in the area for a given time

period.

Properties Sold: The number of property

transactions that closed and transferred

ownership.

Properties Pending Sale: The number of

properties that entered escrow in preparation

for sale.

Properties For Sale: The number of properties on

the market and seeking buyers.

Days on Market (Pending Sale): The number of

days that properties currently in escrow were on

the market.

Absorption Rate: The rate at which the inventory

of home for sale are being sold.

Percent Under Contract: The ratio of properties

to properties sale.

Disclaimer

The Market Within A Market Report is brought to you by The Lessers, of Keller Williams Realty.

Information obtained from Broker Metrics and DataQuick. Broker Metrics and DataQuick statistics are subject to change due to individual real estate company reporting disciplines. The information provided herein is from sources we believe to be reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.

For More Information, Contact:

The Lessers Realtors Keller Williams Realty Sherman Oaks-Encino & Keller Williams Realty Beach Cities

15531 Ventura Blvd. Suite 100 Encino, CA 91436 [email protected] | Direct: 818.822.777

mailto:[email protected]

Real Estate Market Report 2012

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Transcript of Real Estate Market Report 2012