SoCal Multifamily Sales Pulse - April 12, 2021 - April 18, 2021
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Here's What's Happening In The Market, Here’s What This Means For You
All in all, it was pretty much business as usual for all five Southern California county multifamily sales and listing activity. See the data below and review prior week's sales here https://www.mikelembeck.com/socal-multifamily-sales-pulse. I'd expect activity to remain the same as we move through spring and into the summer months as long as interest rates remain at the current levels.
Orange County
Orange County multifamily continued as it has been recently with 13 Closed Sales Last Week. Closed Sales - Average Days on Market remained consistent also at just 33 days. With 21 New Listings Last Week, the inventory was replenished with a net increase of listings bringing it to 153 total listings. Active Listings, Dollar Volume fell below $500,000,000 for the first time in quite a while.
Live MLS and Sale of the Week Link expires in 30 days after published View Live MLS Data View PDF Version
Long Beach
Long Beach multifamily sales were down slightly from previous weeks with 9 Closed Sales Last Week. But Closed Sales - Average Days on Market remained low at just 37 days. One stat to note that out of the 9 Closed Sales Last Week, 7 of those Transactions Sold At or Above Asking Price.
Live MLS and Sale of the Week Link expires in 30 days after published View Live MLS Data View PDF Version
Los Angeles County
Los Angeles County multifamily closed sales were down for the third week in a row with just 69 Closed Sales Last Week. Closed Sales - Average Days on Market remained consistently low at just 49 days. LA County got a fresh supply of New Listings Last Week with 143 new listings coming to market. There was an overall increase in the Total Number of Active Listings to 1,678 listings overall and Active Listings, Dollar Volume moved up to over $8,000,000,000 for the first time in recent months.
Live MLS and Sale of the Week Link expires in 30 days after published View Live MLS Data View PDF Version
San Diego County
San Diego County multifamily sales were also consistent with 14 Closed Sales Last Week. Closed Sales - Average Days on Market dropped to just 11 days. With 14 Closed Sales Last Week, the Average Days on the Market stat is extremely low. Of the Financed Transactions Last Week there were two buyers using VA financing and one buyer used FHA financing. Listing inventory remained steady at 141 Total Number of Active Listings and 14 Months of Inventory.
Live MLS and Sale of the Week Link expires in 30 days after published View Live MLS Data View PDF Version
Riverside County
Riverside County multifamily sales inched back up slightly from the previous week with 8 Closed Sales Last Week. Continuing a trend, of the 8 Closed Sales Last Week there were 6 Transactions Sold At or Above Asking Price. Showing continued competition between investors. The Total Number of Active Listings stayed about the same at 80 listings overall.
Live MLS and Sale of the Week Link expires in 30 days after published View Live MLS Data View PDF Version
San Bernardino County
San Bernardino County multifamily sales remained in double figures with 10 Closed Sales Last Week. Closed Sales - Average Days on Market increased to 155 days due to one transaction Days on Market of 1,153 days. One of the financed transactions was completed using seller financing. Out of the 10 total Closed Sales Last Week there were 7 All Cash Transactions. Listing inventory remained steady at 127 Total Number of Active Listings. Active Listings, Dollar Volume moved up to $195,498,063 from $190,717,663 in the prior week.
Live MLS and Sale of the Week Link expires in 30 days after published View Live MLS Data View PDF Version
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