MICROMARKET · Welcome to Teles Properties’ Micro Market Report for the Los Angeles’ Single Family Housing Market. The report is in response to our observation that the media’s

Bel Air Holmby Hills Beverly Hills Beverly

Hills P.O. Beverlywood Brentwood

Cheviot Hills Rancho Park Hancock Park

Wilshire Hollywood Hills East Los Feliz

Pacific Palisades Palms Mar Vista Santa

Monica Silver Lake Echo Park Sunset

Strip Hollywood Hills West Venice West

Hollywood Westwood Bel Air Holmby Hills

Beverly Hills Beverly Hills P.O. Beverlywood

Brentwood Cheviot Hills Rancho Park

Hancock Park Wilshire Hollywood Hills East

Los Feliz Pacific Palisades Palms Mar Vista

Santa Monica Silver Lake Echo Park Sunset


















MICROMARKETREPORTD ecember 2011 | S ing le Fami ly Homes | L os A nge les

What is a Micro Market ................................ 03

Los Angeles Macro Market .......................... 04

Bel Air - Holmby Hills .................................... 05

Beverly Center - Miracle Mile ....................... 06

Beverly Hills ................................................... 07

Beverly Hills P.O. ............................................ 08

Beverlywood .................................................. 09

Brentwood ..................................................... 10

Cheviot Hills - Rancho Park ........................... 11

Culver City ...................................................... 12

Hancock Park - Wilshire ................................ 13

Hollywood ...................................................... 14

Hollywood Hills East ..................................... 15

Los Feliz .......................................................... 16

Malibu ............................................................ 17

Malibu Beach ................................................ 18

Marina del Rey .............................................. 19

Mid Los Angeles ............................................ 20

Mid Wilshire .................................................. 21

Pacific Palisades ............................................ 22

Palms - Mar Vista .......................................... 23

Playa del Rey ................................................. 24

Playa Vista ..................................................... 25

Santa Monica ................................................ 26

Silverlake - Echo Park .................................... 27

Sunset Strip - Hollywood Hills West ............ 28

Venice ............................................................ 29

West Hollywood ............................................ 30

West Los Angeles ......................................... 31

Westchester .................................................. 32

Westwood - Century City .............................. 33

Glossary of Terms .......................................... 34

© 2011 Teles Properties | telesproperties.com

TABLE OF CONTENTSm i c r o m a r k e t r e p o r t . c o m

http://telesproperties.comhttp://micromarketreport.com

Welcome to Teles Properties’ Micro Market Report for the Los Angeles’ Single Family Housing

Market. The report is in response to our observation that the media’s focus, headlines, and articles

revolve around housing data at a macro level and generalize all markets as the same. We think this

is very misleading for our clients in making one of their largest financial decisions.

We decided to launch our own research department in order to drill down into each unique market.

This idea came from the study of other industries such as investment firms, law firms and accounting

firms. Those industries seemed to provide data from exhaustive research and study. Thus we

analyze the market at the macro level to gain a clear perspective, and continue to enhance our

understanding through study of the market in specific neighborhoods, or as we call them, Micro

Markets.

WHAT IS A MICRO MARKETm i c r o m a r k e t r e p o r t . c o m

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http://micromarketreport.com

back to table of contents*information obtained from The MLS. MLS statistics are subject to change due to individual real estate company reporting disciplines.

LOS ANGELES MACRO MARKET* m i c r o m a r k e t r e p o r t . c o m

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 ................................

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


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






Average Median Price for Last 12 Months

Average Median Price for Last 3 Months ..

DECEMBER 2010 DECEMBER 2011 % CHANGE

-4.3%

-9.7%

-0.8%

16.2%

-20.1%

-34.5%

-51.2%

54.8%

-9.3%

-11.6%

$1,184,819

$567

354

222

3018

98.37931034

12.21724138

8.3%

N/A

N/A

$1,133,311

$512

351

258

2412

64.48275862

5.95862069

12.9%

$1,249,821

$1,282,437

* Including only Micro Market areas from this report


*information obtained from The MLS. MLS statistics are subject to change due to individual real estate company reporting disciplines.

BEL AIR - HOLMBY HILLSm i c r o m a r k e t r e p o r t . c o m

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


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






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


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









-4.1%

-8.4%

38.5%

-16.7%

-20.1%

50.0%

-12.0%

2.7%

3.2%

10.3%

$1,725,000

$796

13

6

164

60

22.5

3.7%

$1,654,625

$729

18

5

131

90

19.8

3.8%

$1,602,583

$1,500,693



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


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






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


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









BEVERLY CENTER - MIRACLE MILEm i c r o m a r k e t r e p o r t . c o m


-13.0%

1.3%

0.0%

120.0%

-27.5%

-25.8%

-75.4%

203.6%

-7.1%

-6.8%

$999,000

$536

11

5

91

62

14.2

5.5%

$869,500

$543

11

11

66

46

3.5

16.7%

$935,481

$933,167



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


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






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


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









BEVERLY HILLSm i c r o m a r k e t r e p o r t . c o m


-25.0%

-7.6%

-22.2%

0.0%

-27.4%

31.1%

-30.6%

38.2%

-19.9%

-5.1%

$3,040,000

$936

18

12

157

45

9.8

7.6%

$2,280,000

$865

14

12

114

59

6.8

10.5%

$2,846,904

$2,402,000



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


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






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


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









BEVERLY HILLS P.O.m i c r o m a r k e t r e p o r t . c o m


13.8%

-15.5%

-16.7%

133.3%

-1.3%

20.7%

-64.4%

138.5%

20.4%

40.7%

$2,190,768

$676

12

6

152

92

20.8

3.9%

$2,493,750

$571

10

14

150

111

7.4

9.3%

$2,071,521

$1,772,917



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


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






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


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









BEVERLYWOODm i c r o m a r k e t r e p o r t . c o m


3.1%

1.9%

-50.0%

12.5%

-6.1%

-44.6%

-33.3%

19.8%

-0.9%

5.2%

$732,250

$432

16

8

66

74

6

12.1%

$755,000

$440

8

9

62

41

4

14.5%

$762,173

$718,000



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


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






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


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









BRENTWOODm i c r o m a r k e t r e p o r t . c o m


28.7%

-20.5%

-47.1%

-62.5%

-21.5%

5.7%

98.6%

-52.5%

10.3%

13.0%

$1,570,000

$677

17

16

158

88

7.3

10.1%

$2,020,000

$538

9

6

124

93

14.5

4.8%

$1,832,077

$1,787,500



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


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






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


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









CHEVIOT HILLS - RANCHO PARKm i c r o m a r k e t r e p o r t . c o m


1.2%

9.1%

-16.7%

-60.0%

-25.7%

89.1%

95.7%

-46.2%

16.2%

3.3%

$1,425,000

$462

6

5

35

55

4.6

14.3%

$1,442,000

$504

5

2

26

104

9

7.7%

$1,240,719

$1,395,533



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


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






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


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









CULVER CITYm i c r o m a r k e t r e p o r t . c o m


-3.6%

-1.4%

-28.6%

120.0%

0.0%

14.9%

-66.7%

119.4%

4.2%

-1.2%

$697,500

$430

14

5

54

47

8.4

9.3%

$672,500

$424

10

11

54

54

2.8

20.4%

$645,445

$680,792



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


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






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


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









HANCOCK PARK - WILSHIREm i c r o m a r k e t r e p o r t . c o m


12.8%

6.1%

-12.5%

22.2%

-7.9%

-52.7%

-33.9%

32.4%

7.1%

16.9%

$963,250

$442

16

9

127

74

10.9

7.1%

$1,087,000

$469

14

11

117

35

7.2

9.4%

$1,015,233

$930,000



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


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






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


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









HOLLYWOODm i c r o m a r k e t r e p o r t . c o m


-46.6%

-6.7%

400.0%

150.0%

5.0%

22.7%

-48.0%

138.0%

-22.2%

-6.8%

$655,525

$386

1

2

20

44

5

10.0%

$350,000

$360

5

5

21

54

2.6

23.8%

$449,656

$375,500



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


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






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


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









HOLLYWOOD HILLS EASTm i c r o m a r k e t r e p o r t . c o m


-28.0%

-8.9%

0.0%

57.1%

-23.6%

-31.6%

-64.6%

105.1%

-19.0%

-2.7%

$972,000

$473

11

7

89

76

9.6

7.9%

$700,000

$431

11

11

68

52

3.4

16.2%

$864,115

$719,167



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


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






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


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









LOS FELIZm i c r o m a r k e t r e p o r t . c o m


19.6%

18.0%

33.3%

20.0%

-8.9%

-5.8%

-31.8%

31.5%

6.0%

15.0%

$810,000

$395

12

10

90

52

6.6

11.1%

$969,000

$466

16

12

82

49

4.5

14.6%

$914,308

$842,833



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


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






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


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









MALIBUm i c r o m a r k e t r e p o r t . c o m


41.7%

28.9%

125.0%

160.0%

-16.1%

-16.2%

-71.7%

210.5%

9.8%

28.9%

$1,605,000

$653

8

5

261

198

43.4

1.9%

$2,275,000

$842

18

13

219

166

12.3

5.9%

$2,071,809

$1,765,338



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


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






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


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









MALIBU BEACHm i c r o m a r k e t r e p o r t . c o m


N/A

N/A

-100.0%

-100.0%

7.5%

N/A

N/A

-100.0%

N/A

N/A

$1,900,625

$1,714

4

2

93

619

39.5

2.2%

N/A

N/A

0

0

100

N/A

N/A

0.0%

$5,051,557

$10,000,000



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


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






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


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









MARINA DEL REYm i c r o m a r k e t r e p o r t . c o m


N/A

N/A

-100.0%

50.0%

-6.7%

117.2%

-45.2%

59.7%

N/A

N/A

$1,260,000

$492

5

2

30

58

11.5

6.7%

N/A

N/A

0

3

28

126

6.3

10.7%

$1,364,424

$1,360,750



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


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






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


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









MID LOS ANGELESm i c r o m a r k e t r e p o r t . c o m


-8.1%

-8.5%

-29.4%

-11.1%

-39.6%

-14.3%

-38.7%

46.2%

-5.6%

1.2%

$310,000

$223

17

9

139

49

12.4

6.5%

$284,975

$204

12

8

84

42

7.6

9.5%

$301,978

$281,658



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


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






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


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









MID WILSHIREm i c r o m a r k e t r e p o r t . c o m


-9.5%

7.8%

-33.3%

-33.3%

-59.5%

-45.7%

-55.8%

66.2%

-9.3%

15.3%

$440,000

$204

6

3

42

81

11.3

7.1%

$398,000

$220

4

2

17

44

5

11.8%

$438,857

$345,087



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


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






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


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









PACIFIC PALISADESm i c r o m a r k e t r e p o r t . c o m


-18.1%

-4.7%

-5.0%

14.3%

-28.4%

-34.9%

-48.4%

58.8%

-24.2%

-25.6%

$1,567,500

$707

20

14

176

129

9.5

8.0%

$1,284,250

$674

19

16

126

84

4.9

12.7%

$1,693,212

$1,725,113



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


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






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


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









PALMS - MAR VISTAm i c r o m a r k e t r e p o r t . c o m


18.5%

0.0%

-33.3%

72.7%

-11.0%

9.0%

-61.8%

93.6%

6.5%

-0.1%

$662,500

$480

27

11

100

67

6.8

11.0%

$785,000

$480

18

19

89

73

2.6

21.3%

$736,981

$785,833

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


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






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


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









PLAYA DEL REYm i c r o m a r k e t r e p o r t . c o m


-40.0%

-15.5%

50.0%

200.0%

-37.9%

36.0%

-84.6%

391.2%

-25.9%

-1.9%

$1,262,500

$373

4

1

29

86

26

3.4%

$757,500

$315

6

3

18

117

4

16.7%

$1,022,870

$772,500



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


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






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


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









PLAYA VISTAm i c r o m a r k e t r e p o r t . c o m


N/A

N/A

N/A

N/A

-50.0%

N/A

N/A

N/A

-13.3%

2.5%

$0

$0

0

0

4

0

0

0.0%

$800,000

$349

1

0

2

0

0

0.0%

$922,893

$780,667



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


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






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


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









SANTA MONICAm i c r o m a r k e t r e p o r t . c o m


-25.6%

-4.5%

58.3%

-22.2%

-16.0%

-17.2%

-9.8%

-7.6%

4.6%

-4.9%

$2,275,000

$820

12

18

125

116

5.1

14.4%

$1,693,000

$783

19

14

105

96

4.6

13.3%

$1,618,946

$1,779,333



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


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






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


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









SILVER LAKE - ECHO PARKm i c r o m a r k e t r e p o r t . c o m


-16.3%

-17.7%

-8.3%

0.0%

-22.2%

-32.8%

-21.2%

29.1%

-9.0%

-10.9%

$675,000

$462

24

14

99

58

5.2

14.1%

$565,000

$380

22

14

77

39

4.1

18.2%

$620,808

$634,167



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


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






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


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









SUNSET STRIP - HOLLYWOOD HILLS WESTm i c r o m a r k e t r e p o r t . c o m


21.6%

4.8%

20.0%

5.6%

-27.0%

-19.3%

-39.5%

46.2%

17.0%

26.3%

$1,225,000

$521

25

18

344

88

15.2

5.2%

$1,490,000

$546

30

19

251

71

9.2

7.6%

$1,273,058

$1,179,500



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


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






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


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









VENICEm i c r o m a r k e t r e p o r t . c o m


31.6%

6.3%

66.7%

0.0%

-34.1%

-66.2%

-43.4%

51.9%

19.2%

3.6%

$870,000

$622

9

7

129

68

13.6

5.4%

$1,145,000

$661

15

7

85

23

7.7

8.2%

$960,731

$1,105,000



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


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






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


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









WEST HOLLYWOODm i c r o m a r k e t r e p o r t . c o m


67.4%

14.0%

50.0%

-33.3%

-27.5%

-38.5%

-8.2%

-8.0%

20.7%

23.1%

$657,000

$544

6

6

69

109

8.5

8.7%

$1,100,000

$620

9

4

50

67

7.8

8.0%

$911,365

$893,333



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


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






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


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









WEST LOS ANGELESm i c r o m a r k e t r e p o r t . c o m


-22.1%

-11.8%

133.3%

-25.0%

-35.9%

-81.1%

-32.1%

16.5%

-6.6%

-0.4%

$732,000

$473

3

4

39

148

7.8

10.3%

$570,000

$417

7

3

25

28

5.3

12.0%

$610,227

$572,500



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


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






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


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









WESTCHESTERm i c r o m a r k e t r e p o r t . c o m


-6.3%

-1.0%

21.1%

27.3%

-10.4%

-29.5%

-36.6%

42.1%

-5.4%

-1.4%

$640,000

$418

19

11

67

105

4.1

16.4%

$600,000

$414

23

14

60

74

2.6

23.3%

$634,135

$608,333



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


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






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


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









WESTWOOD - CENTURY CITYm i c r o m a r k e t r e p o r t . c o m


18.7%

8.7%

-5.6%

66.7%

-11.6%

-69.5%

-62.1%

88.5%

20.0%

10.0%

$1,312,500

$542

18

6

69

105

8.7

8.7%

$1,558,303

$589

17

10

61

32

3.3

16.4%

$1,299,102

$1,416,601



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 influence.

Average Price per Square Foot:

The price of 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 of Market (Pending Sale):

The number of days that properties currently in escrow were on the

market.

Month’s Supply of Inventory:

The number of months it would take to sell all the properties listed for

sale at the current pace of sales and if no new listings entered the market.

Percent Under Contract:

The ratio of properties for sale to properties pending sale.

Shadow Inventory:

Properties in Pre-Foreclosure, Bank Owned or Auction

GLOSSARY OF TERMSm i c r o m a r k e t r e p o r t . c o m



Bel Air Holmby Hills Beverly Hills Beverly

Hills P.O. Beverlywood Brentwood

Cheviot Hills Rancho Park Hancock Park

Wilshire Hollywood Hills East Los Feliz

Pacific Palisades Palms Mar Vista Santa

Monica Silver Lake Echo Park Sunset

























m i c r o m a r k e t r e p o r t . c o m

MICROMARKET · Welcome to Teles Properties’ Micro Market Report for the Los Angeles’ Single Family Housing Market. The report is in response to our observation that the media’s

Documents