SoCal Multifamily Sales Pulse - November 6, 2022 - November 12, 2022

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 Interest Rates Only Tell Part of the Story https://link.socalmultifamilybroker.com/A_4y

Rising Inflation, U.S. Economic Volatility Cooled Commercial Real Estate Lending in Q3 https://link.socalmultifamilybroker.com/A_51

How far will home prices fall? Some say 20% or more is possible https://link.socalmultifamilybroker.com/A_5h

Consumers Less Confident Than Ever in Housing Market https://link.socalmultifamilybroker.com/B09H

Fed Sees Risk Of Big Declines In Still-Lofty Us House Prices https://link.socalmultifamilybroker.com/B13y

Rent slowdown likely for Southern California apartments, USC forecast says. Migration will help keep rent hikes in check as vacancies rise, according to USC's Casden Multifamily Forecast https://link.socalmultifamilybroker.com/B1uz

County-by-County rent forecasts for third-quarter 2024

Los Angeles County: $2,289, up 4.7%

Orange County: $2,781, up 7.1%

Inland Empire: $ 2,230, up 12.7%

Orange County

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Live MLS Link PDF Link

Orange County Closed Sales - MikeLembeck.com

Absorption Rate: 4.29 months
Avg. Cap Rate: 4.44%
Avg. Gross Rent Multiplier: 14.92
9
Closed Sales Last Week
50
Closed Sales - Average Days on Market
$2,459,444
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
3
Financed Transactions Last Week
6
All Cash Transactions Last Week
7
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

14
New Listings Last Week
5
Months of Inventory
194
Total Number of Active Listings
$612,859,744
Active Listings, Dollar Volume
3
Active Under Contract Last Week
4
Pending Listings Last Week
0
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: 4.53 months
Avg. Cap Rate: 4.64%
Avg. Gross Rent Multiplier: 14.29
2
Closed Sales Last Week
33
Closed Sales - Average Days on Market
$1,527,500
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

5
New Listings Last Week
6
Months of Inventory
128
Total Number of Active Listings
$308,260,810
Active Listings, Dollar Volume
1
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: 7.87 months
Avg. Cap Rate: 4.64%
Avg. Gross Rent Multiplier: 14.29
44
Closed Sales Last Week
41
Closed Sales - Average Days on Market
$1,476,676
Closed Sales - Average Sales Price
13
Transactions Sold At or Above Asking Price
35
2-4 Unit Transactions Last Week
9
5+ Unit Transactions Last Week

81
New Listings Last Week
27
Months of Inventory
1,874
Total Number of Active Listings
$10,826,323,201
Active Listings, Dollar Volume
28
Active Under Contract Last Week
24
Pending Listings Last Week
18
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: 3.42 months
Avg. Cap Rate: 4.67%
Avg. Gross Rent Multiplier: 14.29
9
Closed Sales Last Week
22
Closed Sales - Average Days on Market
$1,003,111
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
7
Financed Transactions Last Week
2
All Cash Transactions Last Week
9
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

9
New Listings Last Week
18
Months of Inventory
179
Total Number of Active Listings
$78,322,044
Active Listings, Dollar Volume
1
Active Under Contract Last Week
8
Pending Listings Last Week
10
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: 8.6 months
Avg. Cap Rate: 5.5%
Avg. Gross Rent Multiplier: 12.09
5
Closed Sales Last Week
72
Closed Sales - Average Days on Market
$409,600
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
1
All Cash Transactions Last Week
5
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

4
New Listings Last Week
27
Months of Inventory
108
Total Number of Active Listings
$385,946,000
Active Listings, Dollar Volume
1
Active Under Contract Last Week
4
Pending Listings Last Week
3
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: 4.19 months
Avg. Cap Rate: 6.4%
Avg. Gross Rent Multiplier: 9.55
4
Closed Sales Last Week
44
Closed Sales - Average Days on Market
$442,500
Closed Sales - Average Sales Price
0
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
0
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

6
New Listings Last Week
15
Months of Inventory
145
Total Number of Active Listings
$271,111,213
Active Listings, Dollar Volume
3
Active Under Contract Last Week
3
Pending Listings Last Week
2
Expired Listings Last Week

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