The summer bounce that we all anticipated did not materialized in July. The market trended downward when comparing July ’08 to July ‘07. Total Sales Volume for July of ’08 was down 23.6% at $518,293,749 compared to $678,135,592 for July of ‘07.
The number of transactions was also down 22.8% at 265 vs. 343. The average [...]
Filed under: Micro Market Updates on August 20th, 2008 | No Comments »
This is our first Condominium report for the Micro Markets we track on the Westside of Los Angeles. Condominiums are a Micro Market in and of themselves and are behaving differently from the single family residence market. Of the Micro Markets we track, several have a very limited condominium market while other areas like Santa [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on July 25th, 2008 | No Comments »
Of the 257 closings this month, 46% sold within the first 30 days of being on the market. There is no disputing the evidence that good homes at a good price are still selling very quickly.
The following micro markets were up in sales activity June 08 vs. June 07: Beverly Hills, Westwood - Century City, [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on July 21st, 2008 | No Comments »
Watching, reading, and listening to news reports of falling prices, building inventories, and an overall sense of doom and gloom in the real estate market contrasts with our current experience in the Micro Markets we track. If you study the numbers closely you will see that little has changed in the year over year numbers [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on June 19th, 2008 | 1 Comment »
The market is still looking to find its footing and gain traction. Consistent with the previous months of this year the Micro Markets that we are following are all experiencing different types of activity.
April’s closed sales volume is the aftermath of the slow flow of new transactions from February and March. Escrows are averaging 30 [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on May 21st, 2008 | No Comments »
The slow down in open escrows earlier this year finally revealed itself in fewer closing for March year over year. While it’s too early to predict with any certianty, late January and early February may prove to be the low point of this current cycle. Sales volume was down in 13 of 17 markets we [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on April 22nd, 2008 | 3 Comments »
We at Teles Properties closely watch micro market trends. For February, sales trends changed from the previous month. Sales statistics trends are moving back and forth throughout the local markets and are moving either up or down in almost all of the categories we track. Nothing is stable or consistent.
The following is a summary comparison [...]
Filed under: Micro Market Updates on March 27th, 2008 | 1 Comment »
“The Micro Market Discussion is more relevant now than ever.” The headlines that we read describing the housing market are usually about Macro Markets and depict National, State, County or City trends. This distorts the public’s perception of what could actually be happening in their own neighborhood. In the 16 local markets that we [...]
Filed under: Industry and Economic News, Micro Market Updates on February 21st, 2008 | No Comments »