SoCal Multifamily Sales Pulse - January 15, 2023 - January 21, 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



The Fed’s ongoing housing market ‘reset’ sees buyer cancellation rate at one of the nation’s largest homebuilders spike to 68% https://link.socalmultifamilybroker.com/BxV0  

Apartment Transaction Volume Hinges on Fed’s Next Move https://link.socalmultifamilybroker.com/B_Dj

Fed’s Beige Book Shows CRE Limping, Not Thriving https://link.socalmultifamilybroker.com/B_De

Commercial Property Prices Continue to Drop in December https://link.socalmultifamilybroker.com/B_Dg

CMBS Loan Delinquencies Tick Upward for Third Consecutive Month https://link.socalmultifamilybroker.com/By5P

Shallow Recession or Global Financial Crisis? https://link.socalmultifamilybroker.com/Bydd  

MBA: Commercial Mortgage Delinquencies See Slight Uptick in Q4 https://link.socalmultifamilybroker.com/BzAk

Apartment Landlords Could Start Fighting Over Renters This Year https://link.socalmultifamilybroker.com/BzMU

These Economists Say a Soft Landing is Wishful Thinking https://link.socalmultifamilybroker.com/BzMW

BlackRock says central banks are 'deliberately' causing recessions and warns of a downturn unlike any other https://link.socalmultifamilybroker.com/BzMa

Borrowers Adjust to a Higher Cost of Capital in 2023 https://link.socalmultifamilybroker.com/B-Im

Fed Policymakers Call For Further Rate Hikes To Beat Inflation https://link.socalmultifamilybroker.com/B-In

Up From Here? The Free Fall In Housing Market Activity Just Concluded, Says Capital Economics https://link.socalmultifamilybroker.com/B-Io

Builder Confidence Uptick Signals Turning Point for Housing Lies Ahead https://link.socalmultifamilybroker.com/B_37

Orange County

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Orange County Closed Sales - MikeLembeck.com

Absorption Rate: 6.29 months
Avg. Cap Rate: 4.47%
Avg. Gross Rent Multiplier: 14.88
5
Closed Sales Last Week
23
Closed Sales - Average Days on Market
$1,975,550
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
3
Financed Transactions Last Week
2
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

6
New Listings Last Week
7
Months of Inventory
155
Total Number of Active Listings
$506,334,285
Active Listings, Dollar Volume
5
Active Under Contract Last Week
1
Pending Listings Last Week
1
Expired Listings Last Week

Long Beach

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Long Beach Closed Sales - MikeLembeck.com

Absorption Rate: 7.25 months
Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.28
1
Closed Sales Last Week
44
Closed Sales - Average Days on Market
$2,440,000
Closed Sales - Average Sales Price
0
Transactions Sold At or Above Asking Price
0
Financed Transactions Last Week
1
All Cash Transactions Last Week
0
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

11
New Listings Last Week
10
Months of Inventory
85
Total Number of Active Listings
$219,803,236
Active Listings, Dollar Volume
4
Active Under Contract Last Week
1
Pending Listings Last Week
2
Expired Listings Last Week

Los Angeles County

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Los Angeles County Closed Sales - MikeLembeck.com

Absorption Rate: 6.36 months
Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.28
27
Closed Sales Last Week
49
Closed Sales - Average Days on Market
$1,285,833
Closed Sales - Average Sales Price
11
Transactions Sold At or Above Asking Price
22
2-4 Unit Transactions Last Week
5
5+ Unit Transactions Last Week

104
New Listings Last Week
22
Months of Inventory
1,543
Total Number of Active Listings
$10,626,235,970
Active Listings, Dollar Volume
25
Active Under Contract Last Week
26
Pending Listings Last Week
28
Expired Listings Last Week

San Diego County

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San Diego County Closed Sales - MikeLembeck.com

Absorption Rate: 3.21 months
Avg. Cap Rate: 4.67%
Avg. Gross Rent Multiplier: 14.29
6
Closed Sales Last Week
39
Closed Sales - Average Days on Market
$854,167
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
6
Financed Transactions Last Week
0
All Cash Transactions Last Week
6
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

10
New Listings Last Week
5
Months of Inventory
123
Total Number of Active Listings
$95,553,945
Active Listings, Dollar Volume
0
Active Under Contract Last Week
16
Pending Listings Last Week
1
Expired Listings Last Week

Riverside County

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Riverside County Closed Sales - MikeLembeck.com

Absorption Rate: 7.14 months
Avg. Cap Rate: 5.6%
Avg. Gross Rent Multiplier: 11.92
2
Closed Sales Last Week
115
Closed Sales - Average Days on Market
$412,500
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
1
Financed Transactions Last Week
1
All Cash Transactions Last Week
2
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

3
New Listings Last Week
22
Months of Inventory
97
Total Number of Active Listings
$367,148,405
Active Listings, Dollar Volume
1
Active Under Contract Last Week
1
Pending Listings Last Week
1
Expired Listings Last Week

San Bernardino County

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Live MLS Link PDF Link

San Bernardino County Closed Sales - MikeLembeck.com

Absorption Rate: 4.6 months
Avg. Cap Rate: 6.45%
Avg. Gross Rent Multiplier: 9.47
4
Closed Sales Last Week
19
Closed Sales - Average Days on Market
$669,750
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
2
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

4
New Listings Last Week
20
Months of Inventory
111
Total Number of Active Listings
$252,280,134
Active Listings, Dollar Volume
5
Active Under Contract Last Week
3
Pending Listings Last Week
2
Expired Listings Last Week

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