SoCal Multifamily Sales Pulse - February 19, 2023 - February 25, 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

Fed Minutes: Don’t Hold Your Breath for Lower Interest Rates https://link.socalmultifamilybroker.com/CS1G

Re/Max: Home Price Appreciation May Have Stabilized https://link.socalmultifamilybroker.com/CLEu

CRE Prices Continue To Drop While Blackstone Tries To Keep Investors From Bailing https://link.socalmultifamilybroker.com/CLOn

Columbia REIT Defaults on $1.7B of Office Portfolio Loans https://link.socalmultifamilybroker.com/CT9m

U.S. Home Value Declines $2.3T in Biggest Drop Since 2008 https://link.socalmultifamilybroker.com/CSkc

Multifamily Buyers, Sellers Waiting for the Other Side to Blink https://link.socalmultifamilybroker.com/CMIn

M&T: 20% of Bank's Office CMBS Loans in Danger of Default https://link.socalmultifamilybroker.com/CMIo

Simon Seeks Extension for $295M Loan on California Mall https://link.socalmultifamilybroker.com/CMIu

Berkadia Sees Multifamily Normalize to Pre-Pandemic Levels https://link.socalmultifamilybroker.com/CMPn

The California Exodus Continues https://link.socalmultifamilybroker.com/CPMa

Fannie Mae Sees Fed Pursuing “Higher for Longer” Interest Rate Policy https://link.socalmultifamilybroker.com/CPNe

Little Distress Likely For Multifamily As 2023 Continues https://link.socalmultifamilybroker.com/CPdS

Single-Family Rent Growth Projected to Slow Throughout 2023 https://link.socalmultifamilybroker.com/CPfQ

Berkadia’s Powerhouse Poll Forecasts Increase in Apartment Supply This Year https://link.socalmultifamilybroker.com/CRmV

Wall Street's Elite Investors Are Privately Warning That The Stock Market Is Headed For Another Scary Plunge https://link.socalmultifamilybroker.com/CRmc

Is Santa Ana’s rent control law legal? OC Apartment Association says no https://link.socalmultifamilybroker.com/CRqb

U.S. Homebuyers Start To Regain Upper Hand in 2023 https://link.socalmultifamilybroker.com/CSk7

CRE Prices Slide at a Rate Not Seen Since 2010 https://link.socalmultifamilybroker.com/CTBu

Flying Blind: Instruments-Only Economic Landing Coming https://link.socalmultifamilybroker.com/CTB_

Orange County

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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
60
Closed Sales - Average Days on Market
$1,952,167
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
2
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
3
5+ Unit Transactions Last Week

15
New Listings Last Week
8
Months of Inventory
153
Total Number of Active Listings
$527,690,491
Active Listings, Dollar Volume
3
Active Under Contract Last Week
3
Pending Listings Last Week
1
Expired Listings Last Week

Long Beach

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Long Beach Closed Sales - MikeLembeck.com

Absorption Rate: 10.5 months
Avg. Cap Rate: 4.62%
Avg. Gross Rent Multiplier: 14.28
3
Closed Sales Last Week
82
Closed Sales - Average Days on Market
$1,576,667
Closed Sales - Average Sales Price
0
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
1
All Cash Transactions Last Week
2
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

6
New Listings Last Week
18
Months of Inventory
91
Total Number of Active Listings
$221,147,637
Active Listings, Dollar Volume
7
Active Under Contract Last Week
1
Pending Listings Last Week
0
Expired Listings Last Week

Los Angeles County

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Los Angeles County Closed Sales - MikeLembeck.com

Absorption Rate: 8.22 months
Avg. Cap Rate: 4.62%
Avg. Gross Rent Multiplier: 14.31
36
Closed Sales Last Week
45
Closed Sales - Average Days on Market
$1,777,556
Closed Sales - Average Sales Price
Transactions Sold At or Above Asking Price
30
2-4 Unit Transactions Last Week
6
5+ Unit Transactions Last Week

106
New Listings Last Week
31
Months of Inventory
1,612
Total Number of Active Listings
$11,182,212,714
Active Listings, Dollar Volume
27
Active Under Contract Last Week
34
Pending Listings Last Week
22
Expired Listings Last Week

San Diego County

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San Diego County Closed Sales - MikeLembeck.com

Absorption Rate: 4.63 months
Avg. Cap Rate: 4.66%
Avg. Gross Rent Multiplier: 14.4
7
Closed Sales Last Week
15
Closed Sales - Average Days on Market
$1,466,416
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
2
All Cash Transactions Last Week
7
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

9
New Listings Last Week
65
Months of Inventory
134
Total Number of Active Listings
$111,221,046
Active Listings, Dollar Volume
1
Active Under Contract Last Week
5
Pending Listings Last Week
6
Expired Listings Last Week

Riverside County

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Riverside County Closed Sales - MikeLembeck.com

Absorption Rate: 7.66 months
Avg. Cap Rate: 5.6%
Avg. Gross Rent Multiplier: 11.92
5
Closed Sales Last Week
89
Closed Sales - Average Days on Market
$510,200
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
0
All Cash Transactions Last Week
5
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

10
New Listings Last Week
29
Months of Inventory
93
Total Number of Active Listings
$343,594,682
Active Listings, Dollar Volume
0
Active Under Contract Last Week
2
Pending Listings Last Week
0
Expired Listings Last Week

San Bernardino County

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San Bernardino County Closed Sales - MikeLembeck.com

Absorption Rate: 4.68 months
Avg. Cap Rate: 6.4%
Avg. Gross Rent Multiplier: 9.55
6
Closed Sales Last Week
39
Closed Sales - Average Days on Market
$2,100,500
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
4
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

7
New Listings Last Week
23
Months of Inventory
113
Total Number of Active Listings
$245,291,551
Active Listings, Dollar Volume
2
Active Under Contract Last Week
5
Pending Listings Last Week
0
Expired Listings Last Week

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