PropertyShark BlogCenter » los angeles http://www.propertyshark.com/Real-Estate-Reports Market Reports for Real Estate Writers Fri, 10 Feb 2012 15:43:19 +0000 en hourly 1 http://wordpress.org/?v=3.1 Q3 Multifamily Property Report http://www.propertyshark.com/Real-Estate-Reports/2008/12/18/q3-multifamily-property-report/ http://www.propertyshark.com/Real-Estate-Reports/2008/12/18/q3-multifamily-property-report/#comments Thu, 18 Dec 2008 21:48:13 +0000 brian http://www.propertyshark.com/Real-Estate-Reports/?p=60 In our Q3 Investment Property Report, we see that in New York City, the number of closed transactions and the median sale price hit two year lows, yet some boroughs did better than others. Manhattan experienced a substantial quarterly increase in the dollar volume, passing $1.1 billion, even with the number of closed deals dropping. The Bronx had its largest multifamily sale ($67.7 million) in at least 5 years, despite two-year lows in both the number of sales and in the price indicators, while Staten Island had more sales
than in the previous two quarters despite a major drop in median prices. Queens and Brooklyn both had a significant decrease in the number of sales, while median prices in Brooklyn declined by 2% and median prices in Queens fell 12% compared to Q3 2007.

Multi-Unit Property Sales in Queens and Brooklyn

Multi-Unit Property Sales in Queens and Brooklyn

Transactions surge in Los Angeles as distressed properties flood the market: Los Angeles was the only city among the three in the report that had an increase in the number of sales compared to both Q3 2007 and Q2 2008. However, the increase in transactions was driven by the large number of distressed properties (trustee sales, notices of default or REO’s) in the market, predominantly in the 2-4 family building classes. Fifty four percent of all properties that sold in the third quarter of 2008 were in distress this year.

Los Angeles Multifamily Property Transactions

Los Angeles Multifamily Property Transactions

However, the median price per unit for Multifamily properties has been in free fall since Q4 2006.

Los Angeled Multifamily Property Price Per Unit

Los Angeled Multifamily Property Price Per Unit

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]]> http://www.propertyshark.com/Real-Estate-Reports/2008/12/18/q3-multifamily-property-report/feed/ 0 Los Angeles Foreclosures http://www.propertyshark.com/Real-Estate-Reports/2008/12/18/los-angeles-foreclosures/ http://www.propertyshark.com/Real-Estate-Reports/2008/12/18/los-angeles-foreclosures/#comments Thu, 18 Dec 2008 20:52:19 +0000 brian http://www.propertyshark.com/Real-Estate-Reports/?p=50 In the latest PropertyShark.com market reports, we see some of the most dramatic activity in Los Angeles, where After a large drop in October 2008, foreclosures in Los Angeles were on the rise again with 3,685 new foreclosures auctions scheduled in November 2008, up 54% from October 2008 and up 51% from November 2007.

Los Angeles Foreclosures spike back up in November 2008

Los Angeles Foreclosures spike back up in November 2008

Browse current Los Angeles Foreclosure listings.

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