Listed Price:  $1,369,000

Listing Agent: Karen Misraje– Teles Properties

10561 Butterfield Drive :::  MLS #08-327901

Listed Price:  $1,299,000

Listing Agent: The Fiedlers – Teles Properties

1141 26th St. #B :::  MLS # 08-327809

Listed Price:  $489,000

Listing Agent: The Fiedlers – Teles Properties

10123 Angelo View Drive :::  MLS # 078-328035

Leased Price:  $9,500

Listing Agent: Ernie Carswell – Teles Properties

370 Canyon View Drive :::  MLS # 08-328099

Leased Price:  $7,500

Listing Agent: Art Korvel – Teles Properties

PRICE REDUCTION:

11918 Kiowa Ave #203 :::  MLS #08-288429

Original Listed Price:  $639,000
NEW Listing Price:  $585,000

Listing Agent: Stacy Blair Young – Teles Properties

1250 Beverly Glen #108 :::  MLS # 08-317501

Original Listed Price:  $3,600

NEW Listing Price:  $3,200

Listing Agent: Susan Larison – Teles Properties

1250 Beverly Glen #103 :::  MLS # 08-320275

Original Listed Price:  $2,900

NEW Listing Price:  $2,500

Listing Agent: Susan Larison – Teles Properties

11918 Kiowa Ave #203 :::  MLS # 08-322231

Original Listed Price:  $2,600

NEW Listing Price:  $2,400

Listing Agent: Stacy Blair Young – Teles Properties

10633 Kinnard Ave. #10 :::  MLS # 08-317619

Original Listed Price:  $2,950

NEW Listing Price:  $2,600

Listing Agent: Stacy Blair Young– Teles Properties

Here are some overall trends in the market as compared to last year. Be sure to study the micro markets you are interested in to see how they are performing . These numbers include the entire Westside of Los Angeles for single family homes.

This year inventory has ranged from 3100 homes to 3750 homes for sale. We are at 3700 right now. Sales per month have ranged between 209 and 329. In Sept 283 properties closed. Inventory has ranged between 8.4 months supply and 10.1 months supply. We are currently at 9.6 months. The pendings as a % of the homes for sale has ranged from 7.9% to 9.8%. Last month was 7.9%

In 2007 the inventory range was between 2650 and 3700 homes for sale.
In 2007 the sales per month ranged between 275 and 492.
In 2007 the months supply of inventory ranged between 4 and 14.8.
In 2007 the pendings as a % of the homes for sale ranged between 7% and 18.4%.

The average median sales price for the first nine months of the year in 2008 is $1,086,000 vs $1,180,000 for the first 9 months of 2007. This is a 8% decline.

If you look at the different price ranges you will see the under $2.5 million dollar market has been impacted much greater than over $2.5 million. The numbers below are the average median sales price for each dollar range.

Under $1mm $709,000 (2008) vs. $762,000 (2007) down 7%
$1mm - $2.5mm $1,359,000 vs. $1460,000 down 7%
$2.5mm - $5mm  $3,267,000 vs. $3,245,000 up .6%
Over $5mm $6,823,000 vs. $6,797,000 up .4%

Again the bottom line is very simple - There are less people buying homes and this is impacting the market however not nearly as much as most people think. Stay tuned for next month’s report to see if any new trends are developing.

SEPTEMBER 2008 Micro Market Report

SEPTEMBER 2008 Micro Market Report - Condominiums

2326 Castle Heights Ave. :::  MLS # 08-322183

Original Listed Price:  $1,095,000

NEW Listing Price:  $1,045,000

Listing Agent: The Fiedlers – Teles Properties

837 Linda Flora :::  MLS # 08-251239

Original Listed Price:  $949,000

NEW Listing Price:  $895,000

Listing Agent: Melissa Alt – Teles Properties

1907 S. Crescent Heights Blvd. :::  MLS # 08-296399

Original Listed Price:  $575,000

NEW Listing Price:  $550,000

Listing Agent: The Fiedlers – Teles Properties

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*For complete information and a list of all our properties click on the link to view our website:

http://www.telesproperties.com/properties/view/

251 24th Street :::   MLS # 08-325777

Area: Santa Monica

Listed At: $4,695,000

Listing Agent: Ellen Conrad - Teles Properties

603 21ST ST. :::   MLS #  08-324743

Area: Santa Monica

Listed At:  $2,700,000

Listing Agent: Ellen Conrad – Teles Properties

527 N Arden Blvd :::   MLS # 08-325323

Area: Hancock Park-Wilshire

Listed At:  $1,099,000

Listing Agents: Heather T. Roy and Learka Bosnak – Teles Properties

1634 Blue Jay Way :::   MLS # 08-325807

Area: Sunset Strip-Hollywood Hills West

Listed At: $49,500

Listing Agent: Ernie Carswell - Teles Properties

9136 MONTE MAR DR :::   MLS # 08-322183

Area: Beverlywood

Listed At:  $4,000

Listing Agent: The Fiedlers – Teles Properties

PRICE REDUCTION:

11265 Sunshine Terrace :::  MLS # 08-279935

Original Listed Price:  $1,187,500

NEW Listing Price:  $1,069,000

Listing Agent: Michael Phillips – Teles Properties

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1647 SHERBOURNE DRIVE :::   MLS # 08-320743

Area: Beverlywood

Listed At:  $689,000

Listing Agent: The Fiedlers – Teles Properties

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7316 CAVERNA DRIVE :::   MLS # 08-321299

Area: Sunset Strip - Hollywood Hills

Listed At:  $7,500/month

Listing Agent: Michael Phillips – Teles Properties

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20563 CHENEY DR :::   MLS # 08-322047

Area: Topanga

Listed At:  $1,695,000

Listing Agent: Karen Misraje – Teles Properties

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20571 CHENEY DR :::   MLS # 08-322049

Area: Topanga

Listed At:  $1,295,000

Listing Agent: Karen Misraje – Teles Properties

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PRICE REDUCTIONS:

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1466 SAN REMO DRIVE :::   MLS # 08-294191

Area: Pacific Palisades

New Price:  $3,995,000

Original Price:  $4,795,000

Listing Agent: Chaya van Essen – Teles Properties

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1204 ROXBURY DR #2C :::   MLS # 08-283341

Area: Beverlywood

New Price:  $700,000

Original Price:  $849,000

Listing Agent: The Fiedlers – Teles Properties

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9026 BEVERLYWOOD ST :::   MLS # 08-309243

Area: Beverlywood

New Price:  $745,000

Original Price:  $799,000

Listing Agent: The Fiedlers – Teles Properties

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2045 MORGAN HILL DRIVE :::   MLS # 08-298081

Area: Los Filez

New Price:  $3,800/month

Original Price:  $4,200/month

Listing Agent: John Beanum – Teles Properties.

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838 FISKE ST :::   MLS # 08-297471

Area: Pacific Palisades

New Price:  $1,795,000

Original Price:  $1,948,000

Listing Agent: Melissa Alt – Teles Properties

2250 23RD ST :::   MLS # 08-312127

Area: Santa Monica

Listed At:  $3,600/month

Listing Agent: Jennifer Field – Teles Properties

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13173 PACIFIC PROMENADE :::   MLS # 08-312127

Area: Playa Vista

Listed At:  $3,650/month

Listing Agent: Stacy Blair Young – Teles Properties

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1250 BEVRLY GLEN :::   MLS # 08-3175001

Area: Westwood- Century City

Listed At:  $3,600/month

Listing Agent: Susan Larison – Teles Properties

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3008 CLUB DR :::   MLS # 08-317503

Area: Cheviot Hills-Rancho Park

Listed At:  $4,250/month

Listing Agent: The Fiedlers – Teles Properties

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13173 PACIFIC PROMENADE #108 :::   MLS # 08-316645

Area: Playa Vista

Listed At:  $3,650/month

Listing Agent: Stacy Blair Young – Teles Properties

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803 N WILCOX AVE #1 :::   MLS # 08-317663

Area: Hollywood

Listed At:  $659,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #2 :::   MLS # 08-317899

Area: Hollywood

Listed At:  $649,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #5   :::   MLS # 08-317951

Area: Hollywood

Listed At:  $639,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #6 :::   MLS # 08-317957

Area: Hollywood

Listed At:  $629,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #9 :::   MLS # 08-317961

Area: Hollywood

Listed At:  $599,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #10 :::   MLS # 08-317963

Area: Hollywood

Listed At:  $599,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #11 :::   MLS # 08-317965

Area: Hollywood

Listed At:  $599,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #13 :::   MLS # 08-317967

Area: Hollywood

Listed At:  $549,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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803 N WILCOX AVE #14 :::   MLS # 08-317971

Area: Hollywood

Listed At:  $559,000

Listing Agent: Melissa Alt and Kelly Aluise – Teles Properties

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209 25TH STREET :::   MLS # 08-319115

Area: Santa Monica

Listed At:  $2,050,000*(Correction)

Listing Agent: Ellen Conrad – Teles Properties

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370 S CANYON VIEW DR :::   MLS # 08-319485

Area: Brentwood

Listed At:  $2,699,000

Listing Agent: Art and Kristina Korvel – Teles Properties

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1912 SPINDRIFT DR :::   MLS # 08-319687

Area: San Diego

Listed At:  $10,500,000

Listing Agent: Susan Larison – Teles Properties

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6650 WHITLEY TERRACE :::   MLS # 08-319745

Area: Sunset Strip- Hollywood Hills

Listed At:  $975,000

Listing Agent: Melissa Alt and Ernie Carswell – Teles Properties

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4169 MOTOR AVE :::   MLS # 08-320231

Area: Culver City

Listed At:  $1,050,000

Listing Agent: Claire Burns – Teles Properties

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1250 BEVERLY GLEN #103   :::   MLS # 08-320275

Area: Westwood - Century City

Listed At:  $2,900/month

Listing Agent: Susan Larison – Teles Properties

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PRICE REDUCTION:

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2726 CASTLE HEIGHTS PL :::   MLS # 08-302183

Area: Beverlywood

New Price:  $4,000

Original Price:  $4,500

Listing Agent: The Fiedlers – Teles Properties

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1049 16TH ST #8 :::   MLS # 08-306883

Area: Santa Monica

New Price:  $4,000

Original Price:  $4,250

Listing Agent: Ellen Conrad – Teles Properties

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11265 SUNSHINE TERRACE :::   MLS # 08-279935

Area: Studio City

New Price:  $1,187,500

Original Price:  $1,379,000

Listing Agent: Michael Phillips – Teles Properties

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1115 S ELM DR #319 :::   MLS # 08-306857

Area: Beverlywood

New Price:  $394,500

Original Price:  $424,999

Listing Agent: Stacy Blair Young – Teles Properties

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950 N ORANGE GROVE :::   MLS # 08-309475

Area: West Hollywood

New Price:  $999,000

Original Price:  $1,095,000

Listing Agent: Chaya van Essen and Michael Phillips – Teles Properties

In this ever changing real estate landscape, knowing the statistics of the individual markets you are interested in will be crucial to making the best business decision possible. The message we have been conveying all year long is there are windows of opportunity for both buying and selling at any given time to those persons who are most informed. Our agents and clients are armed with the facts to help them navigate through these challenging and turbulent times. Feelings are not facts and what is taking place on a Macro level may be quite different to what we are experiencing locally.

The following is a summary of our August’s Micro Market Report and a comparison of those statistics to the same month last year. The numbers clearly establish the overall change in the housing market from a year ago.

Micro Markets that increased in Sales Volume Aug. 08 vs. Aug. 07: Brentwood, Malibu, Pacific Palisades, Santa Monica.

Micro Markets that improved in Average Median Sales Price Aug. 08 vs. Aug. 07: Brentwood, Hancock Park, Malibu, Santa Monica, Pacific Palisades.

41.6% of the homes that closed in August sold within the first 30 days of being listed.

We invite you to review this report in greater detail and specifically the micro market summary for your neighborhood so you can formulate your own conclusions by clicking on the link below.

AUGUST 2008 Micro Market Report

AUGUST 2008 Micro Market Report - Condominiums

933 BLUEGRASS LN :::   MLS # 08-310977

Area: Brentwood

Listed At:  $2,995,000

Listing Agent: John Iglar – Teles Properties

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1115 S CLARK DR :::   MLS # 08-314429

Area: Beverlywood

Listed At:  $979,000

Listing Agent: JJ Wallack – Teles Properties

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PRICE REDUCTION:

1050 WOODLAND DRIVE :::   MLS # 08-293545

Area: Beverly Hills

New Price:  $9,500

Original Price:  $14,900

Listing Agent: Ernie Carswell – Teles Properties

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933 BLUEGRASS LANE :::   MLS # 08-310977

Area: Brentwood

New Price:  $2,695,000

Original Price:  $2,955,000

Listing Agent: John Iglar – Teles Properties

1725 GLENDON AVENUE #2 :::   MLS # 08-311221

Area: Westwood- Century City

Listed At:  $1,199,000

Listing Agent: Claire Burns – Teles Properties

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PRICE REDUCTION:

11918 KIOWA AVENUE :::   MLS # 08-288429

Area: Los Angeles

New Price:  $599,000

Original Price:  $639,500

Listing Agent: Stacy Blair Young – Teles Properties

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13173 PACIFIC PROMENADE #108 :::   MLS # 08-292105

Area: Playa Vista

New Price:  $688,000

Original Price:  $709,000

Listing Agent: Stacy Blair Young – Teles Properties

9119 HARGIS ST :::   MLS # 08-309235

Area: Beverlywood Vicinity

Listed At:  $725,000

Listing Agent: The Fiedlers – Teles Properties
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9026 BEVERLYWOOD ST :::   MLS # 08-309243

Area: Beverlywood Vicinity

Listed At:  $799,000

Listing Agent: The Fiedlers – Teles Properties
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950 N ORANGE GROVE #2 :::   MLS # 08-309473

Area: West Hollywood Vicinity

Listed At:  $1,195,000

Listing Agent: Chaya van Essen and Michael Phillips – Teles Properties
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950 N ORANGE GROVE #3 :::   MLS # 08-309475

Area: West Hollywood Vicinity

Listed At:  $1,095,000

Listing Agent: Chaya van Essen and Michael Phillips – Teles Properties
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950 N ORANGE GROVE #4 :::   MLS # 08-309477

Area: West Hollywood Vicinity

Listed At:  $1,195,000

Listing Agent: Chaya van Essen and Michael Phillips – Teles Properties
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950 N ORANGE GROVE #5 :::   MLS # 08-309479

Area: West Hollywood Vicinity

Listed At:  $1,295,000

Listing Agent: Chaya van Essen and Michael Phillips – Teles Properties

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9139 W 24TH STREET :::   MLS # 08-310931

Area: Beverlywood Vicinity

Listed At:  $1,199,000

Listing Agent: The Fiedlers – Teles Properties

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PRICE REDUCTIONS:
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29343 BLUEWATER RD  :::   MLS # 08-300429

Area: Malibu

New Price:  $2,590,000

Original Price:  $2,740,000

Listing Agent: Lou Piatt – Teles Properties

1566 RISING GLEN RD :::   MLS # 08-245807

Area: Hollywood Hills West

New Price:  $2,375,000

Original Price:  $2,950,000

Listing Agent: Ernie Carswell – Teles Properties

2726 CASTLE HEIGHTS PL :::   MLS # 08-302183

Area: Beverlywood Vicinity

New Price:  $4,250

Original Price:  $4,500

Listing Agent: The Fiedlers – Teles Properties

517 14TH STREET :::   MLS # 08-276759

Area: Santa Monica

New Price:  $2,198,000

Original Price:  $2,388,000

Listing Agent: Melissa Alt – Teles Properties

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535 N FORMOSA DR :::   MLS # 08-258001

Area: Miracle Mile

New Price:  $899,000

Original Price:  $1,050,000

Listing Agent: The Fiedlers – Teles Properties