SoCal Multifamily Sales Pulse - January 22, 2023 - January 28, 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

Why US home prices will fall another 10 percent, according to Harvard economist https://link.socalmultifamilybroker.com/B_EL

The Housing Market Has Started To Recover https://link.socalmultifamilybroker.com/C4dE

Here’s when US home price declines could end, Goldman Sachs says https://link.socalmultifamilybroker.com/C4sE  

Fed to deliver two 25-basis-point hikes in Q1, followed by long pause https://link.socalmultifamilybroker.com/B_EN

10 Commercial Real Estate Questions That Need Answers in 2023 https://link.socalmultifamilybroker.com/B_zr

How will the recession impact commercial real estate? https://link.socalmultifamilybroker.com/C0Kq

This Recession Indicator Hasn't Been Wrong in 56 Years: Here's What It Says Happens Next https://link.mikelembeck.com/C0LM

Future of Office Remains Murky Amid Layoffs, Recession Fears https://link.socalmultifamilybroker.com/C0SY

Expiring Interest Rate Caps to Fuel Distressed Property Sales https://link.socalmultifamilybroker.com/C0Se

Price Discovery Likely to Continue as Rate Hikes Persist https://link.socalmultifamilybroker.com/C0Sk

2023 Multifamily Outlook: Cautiously Optimistic https://link.socalmultifamilybroker.com/C3sZ

US housing market shows early signs of recovery as demand rises https://link.socalmultifamilybroker.com/C3w9

Multifamily Underwriting Assumptions Are Up Over Pre-Pandemic Times https://link.socalmultifamilybroker.com/C3xj

Bidding Wars Are Back in Key Home Markets https://link.socalmultifamilybroker.com/C4R0

LA’s active residential agent pool shrinks 27% as market slows https://link.socalmultifamilybroker.com/C5Ec

Orange County

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Orange County Closed Sales - MikeLembeck.com

Absorption Rate: 6.29 months
Avg. Cap Rate: 4.47%
Avg. Gross Rent Multiplier: 14.88
4
Closed Sales Last Week
116
Closed Sales - Average Days on Market
$1,818,750
Closed Sales - Average Sales Price
0
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
7
Months of Inventory
155
Total Number of Active Listings
$511,675,286
Active Listings, Dollar Volume
3
Active Under Contract Last Week
3
Pending Listings Last Week
3
Expired Listings Last Week

Long Beach

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Live MLS Link PDF Link

Long Beach Closed Sales - MikeLembeck.com

Absorption Rate: 7.25 months
Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.28
4
Closed Sales Last Week
105
Closed Sales - Average Days on Market
$1,414,750
Closed Sales - Average Sales Price
0
Transactions Sold At or Above Asking Price
3
Financed Transactions Last Week
1
All Cash Transactions Last Week
2
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

6
New Listings Last Week
10
Months of Inventory
84
Total Number of Active Listings
$221,648,136
Active Listings, Dollar Volume
1
Active Under Contract Last Week
1
Pending Listings Last Week
2
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: 6.36 months
Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.28
42
Closed Sales Last Week
53
Closed Sales - Average Days on Market
$1,506,717
Closed Sales - Average Sales Price
9
Transactions Sold At or Above Asking Price
36
2-4 Unit Transactions Last Week
6
5+ Unit Transactions Last Week

123
New Listings Last Week
22
Months of Inventory
1,575
Total Number of Active Listings
$10,647,495,408
Active Listings, Dollar Volume
24
Active Under Contract Last Week
28
Pending Listings Last Week
31
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: 3.21 months
Avg. Cap Rate: 4.67%
Avg. Gross Rent Multiplier: 14.29
11
Closed Sales Last Week
28
Closed Sales - Average Days on Market
$2,069,945
Closed Sales - Average Sales Price
5
Transactions Sold At or Above Asking Price
7
Financed Transactions Last Week
4
All Cash Transactions Last Week
9
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

17
New Listings Last Week
5
Months of Inventory
133
Total Number of Active Listings
$95,553,945
Active Listings, Dollar Volume
2
Active Under Contract Last Week
13
Pending Listings Last Week
2
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: 7.14 months
Avg. Cap Rate: 5.6%
Avg. Gross Rent Multiplier: 11.92
4
Closed Sales Last Week
31
Closed Sales - Average Days on Market
$906,250
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
0
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

4
New Listings Last Week
22
Months of Inventory
97
Total Number of Active Listings
$368,837,910
Active Listings, Dollar Volume
0
Active Under Contract Last Week
3
Pending Listings Last Week
0
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: 4.6 months
Avg. Cap Rate: 6.45%
Avg. Gross Rent Multiplier: 9.47
5
Closed Sales Last Week
39
Closed Sales - Average Days on Market
$735,000
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
0
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

10
New Listings Last Week
20
Months of Inventory
113
Total Number of Active Listings
$254,630,033
Active Listings, Dollar Volume
1
Active Under Contract Last Week
4
Pending Listings Last Week
1
Expired Listings Last Week

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