SoCal Multifamily Sales Pulse -July 4, 2021 - July 10, 2021
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
Orange County
Orange County multifamily had 12 Closed Sales Last Week. This is the lowest number of Closed Sales in one week in the last few months. Almost half (5) of the Closed Sales were all-cash transactions. Typical with recent Orange County multifamily sales 7 of the 12 transactions were in coastal/beach cities. There was a rare sale of 3 units in Trabuco Canyon. This is a city with very few apartment buildings. Most closed sales occurred in 60 days or less with just one closed sale taking 241 days - which skewed the days a market.
There were 17 New Listings last week keeping inventory levels consistent with prior weeks and Months of Inventory at 3 months. Active Listing Dollar Volume is back up over $500,000,000 after being less than $500,000,000 the last couple of weeks prior.
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 had 6 Closed Sales last Week. This is down from an average of around 8-10 sales. In a rare occurrence, there were no ALL-CASH transactions in Long Beach last week.
Like Orange County half of the Closed Sales Last Week were in coastal areas. In the case of Long Beach were talking about Belmont Shores and Alamitos Beach.
Long Beach had 13 New Listings Last Week. The most we’ve seen in quite a while, bringing the Total Number of Active Listings to 109. Active Listings, Dollar Volume is up over $260,000,000 for the first time in over 1 month.
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 multifamily had 61 Closed Sales Last Week. That’s an extremely low number of closed sales for LA County. The recent weeks Closed Sales have been between 80-100. Closed Sales - Average Days on Market remained low at just 34 days.
For the first time in quite a while, the Transactions Sold At or Above Asking Price (26) were below 50% of the total number of closed sales.
There were 143 New Listings Last Week keeping the Total Number of Active Listings above 1,700 again. Months of Inventory went from 11 months to 10 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
There were 8 Closed Sales Last Week in San Diego County multifamily. Another area with a low number of closed sales last week. The Average Days on the Market remained ultra-low at just 16 days. Combined with 6 of the 8 closed sales Sold At or Above Asking Price shows investor demand is strong for San Diego County apartment buildings.
The Total Number of Active Listings moved above 200 for the first time in several months.
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 had just 5 Closed Sales Last Week. The lowest number of Closed Sales we’ve seen in quite a while. Typically closed sales per week are around 8-10 or more.
Closed Sales - Average Days on Market was just 19 days with 4 out of the 5 sales being on the market 6 days or less. There was one sale that caused the days on market to increase. This property was on the market for 81 days.
The Total Number of Active Listings remained about the same at 106 total listings. And Months of Inventory remained consistent at 3 months.
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 also had 5 Closed Sales Last Week. Closed Sales - Average Days on Market increased to 65 days. This stat was inflated due to a couple of properties taking 119 and 156 days to sell. There were 3 of the 5 Transactions Sold At or Above Asking Price and 3 of the 5 Transactions were all-cash transactions.
With 16 New Listings Last Week, the Total Number of Active Listings remained in the 130-140 range for another week. Active Listings, Dollar Volume was back up over $200,000,000 after falling below $200,000,000 last 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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