SoCal Multifamily Sales Pulse - February 12, 2023 - February 18, 2023

Disclaimer: All information contained herein is obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only. We make no claim(s) as to the accuracy or reliability of the information presented. If you wish for us to analyze your specific property or situation please feel free to call or email us anytime.


Here's What's Happening In The Market, Here’s What This Means For You

High interest rates stymie apartment investment https://link.socalmultifamilybroker.com/CFAU

'Near Record' Amounts of Idle Capital Could Boost Sales This Year https://link.socalmultifamilybroker.com/CHww

After Years of High Performance, Multifamily Steps Back in 2023 https://link.socalmultifamilybroker.com/CFDf

Map: Here's where home prices are dropping the most https://link.socalmultifamilybroker.com/CFqZ

California apartment rents slide for the fifth straight month https://link.socalmultifamilybroker.com/CG_I

Biden Administration Starts Rolling Out Proposed Building Materials Rules https://link.socalmultifamilybroker.com/CG_T

As Inflation Ticks Back Up to 6.4%, It’s Time for a Broader View https://link.socalmultifamilybroker.com/CHws

Brookfield Defaults on Two Los Angeles Office Towers, $784M in Loans https://link.socalmultifamilybroker.com/CHwv

California, New York Renters Leaving, Taking High Incomes with Them https://link.socalmultifamilybroker.com/CHxB

Investors Are Fleeing the Home-Buying Market https://link.socalmultifamilybroker.com/CIO7

Inflation Is Up and Other Bad Economic Signs https://link.socalmultifamilybroker.com/CJXl

Goldman Sachs, Bank of America expect three more U.S. rate hikes this year https://link.socalmultifamilybroker.com/CKcp

Simon Property Group Misses Maturity on $295M Mall Loan https://link.socalmultifamilybroker.com/CKfa 

Orange County

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Orange County Closed Sales - MikeLembeck.com

Absorption Rate: 6.21 months
Avg. Cap Rate: 4.47%
Avg. Gross Rent Multiplier: 14.88
6
Closed Sales Last Week
92
Closed Sales - Average Days on Market
$1,777,833
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
1
All Cash Transactions Last Week
5
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

12
New Listings Last Week
9
Months of Inventory
141
Total Number of Active Listings
$586,492,691
Active Listings, Dollar Volume
2
Active Under Contract Last Week
2
Pending Listings Last Week
1
Expired Listings Last Week

Long Beach

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Long Beach Closed Sales - MikeLembeck.com

Absorption Rate: 10.5 months
Avg. Cap Rate: 4.62%
Avg. Gross Rent Multiplier: 14.28
6
Closed Sales Last Week
55
Closed Sales - Average Days on Market
$1,360,068
Closed Sales - Average Sales Price
0
Transactions Sold At or Above Asking Price
6
Financed Transactions Last Week
0
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

9
New Listings Last Week
18
Months of Inventory
94
Total Number of Active Listings
$221,205,637
Active Listings, Dollar Volume
2
Active Under Contract Last Week
2
Pending Listings Last Week
1
Expired Listings Last Week

Los Angeles County

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Los Angeles County Closed Sales - MikeLembeck.com

Absorption Rate: 8.22 months
Avg. Cap Rate: 4.62%
Avg. Gross Rent Multiplier: 14.31
41
Closed Sales Last Week
52
Closed Sales - Average Days on Market
$1,526,144
Closed Sales - Average Sales Price
15
Transactions Sold At or Above Asking Price
33
2-4 Unit Transactions Last Week
8
5+ Unit Transactions Last Week

107
New Listings Last Week
32
Months of Inventory
1,592
Total Number of Active Listings
$11,223,797,264
Active Listings, Dollar Volume
30
Active Under Contract Last Week
32
Pending Listings Last Week
23
Expired Listings Last Week

San Diego County

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

San Diego County Closed Sales - MikeLembeck.com

Absorption Rate: 4.63 months
Avg. Cap Rate: 4.66%
Avg. Gross Rent Multiplier: 14.4
11
Closed Sales Last Week
42
Closed Sales - Average Days on Market
$1,010,809
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
9
Financed Transactions Last Week
2
All Cash Transactions Last Week
10
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

12
New Listings Last Week
65
Months of Inventory
134
Total Number of Active Listings
$111,881,046
Active Listings, Dollar Volume
0
Active Under Contract Last Week
6
Pending Listings Last Week
3
Expired Listings Last Week

Riverside County

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Riverside County Closed Sales - MikeLembeck.com

Absorption Rate: 7.66 months
Avg. Cap Rate: 5.6%
Avg. Gross Rent Multiplier: 11.92
3
Closed Sales Last Week
169
Closed Sales - Average Days on Market
$683,300
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
1
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

3
New Listings Last Week
33
Months of Inventory
84
Total Number of Active Listings
$379,624,409
Active Listings, Dollar Volume
3
Active Under Contract Last Week
2
Pending Listings Last Week
0
Expired Listings Last Week

San Bernardino County

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

San Bernardino County Closed Sales - MikeLembeck.com

Absorption Rate: 4.68 months
Avg. Cap Rate: 6.4%
Avg. Gross Rent Multiplier: 9.55
2
Closed Sales Last Week
15
Closed Sales - Average Days on Market
$598,950
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
0
All Cash Transactions Last Week
2
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

5
New Listings Last Week
26
Months of Inventory
108
Total Number of Active Listings
$302,940,998
Active Listings, Dollar Volume
3
Active Under Contract Last Week
7
Pending Listings Last Week
1
Expired Listings Last Week

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