SoCal Multifamily Sales Pulse - March 5, 2023 - March 11, 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

Report: National Apartment Rent Growth Likely to Be Negative https://link.socalmultifamilybroker.com/Cbif

Home Prices Will Probably Decline More in Coming Months https://link.socalmultifamilybroker.com/CclJ

CMBS Delinquencies Rise Sharply in February Following January Decline https://link.socalmultifamilybroker.com/Ccng

Housing Market Update: Home Prices Fall Annually For First Time In A Decade As Mortgage Rates Pass 7% https://link.socalmultifamilybroker.com/CcoR

Rent Control Is A Great Idea If You’re Trying To Destroy A City. Keep It Out Of Orange County https://link.socalmultifamilybroker.com/Ccqj

Apartment Operators Sue to Block Tenant Protections in Los Angeles https://link.socalmultifamilybroker.com/CdQx

It’s Raining Multifamily https://link.socalmultifamilybroker.com/CdR7

Commercial Property Pricing Inches Down Another 1.4% in February https://link.socalmultifamilybroker.com/CdRB

Economist’s View: Why the Fed Will Keep Raising Interest Rates https://link.socalmultifamilybroker.com/Cdap

Near-Record Multifamily Deliveries Will Mean Oversupply Only in the Short Term https://link.socalmultifamilybroker.com/Cedu

The Roller Coaster Ride Continues in 2023 https://link.socalmultifamilybroker.com/CfVx

Orange County’s Multifamily Sector Remains Highly Sought After By Investors https://link.socalmultifamilybroker.com/CfVj

Fed's Beige Book: CRE Activity Remains Steady https://link.socalmultifamilybroker.com/CfW1

Housing Market Momentum Stalls as Critical Spring Season Approaches https://link.socalmultifamilybroker.com/Cib9

Sellers Retreat From The Market, Increasing Inventory Shortage And Buoying Home Prices; Affordability Takes Step Back On Rising Interest Rates https://link.socalmultifamilybroker.com/CjF3

The 1031 Exchange Tax Deduction That Home Sellers And Real Estate Investors Have Been Using For Decades Is At Risk Of Being Sunset https://link.socalmultifamilybroker.com/CjF5

Homebuyers’ Monthly Payments Hit All-Time High As Mortgage Rates Rise, According To Redfin Report https://link.socalmultifamilybroker.com/CjX5

Orange County

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Orange County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.44%
Avg. Gross Rent Multiplier: 14.92
8
Closed Sales Last Week
106
Closed Sales - Average Days on Market
$1,548,625
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
3
All Cash Transactions Last Week
6
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

11
New Listings Last Week
8
Months of Inventory
154
Total Number of Active Listings
$560,891,795
Active Listings, Dollar Volume
4
Active Under Contract Last Week
3
Pending Listings Last Week
1
Expired Listings Last Week

Long Beach

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Long Beach Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.28
3
Closed Sales Last Week
73
Closed Sales - Average Days on Market
$1,564,000
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
3
Financed Transactions Last Week
0
All Cash Transactions Last Week
2
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

6
New Listings Last Week
8
Months of Inventory
94
Total Number of Active Listings
$257,535,410
Active Listings, Dollar Volume
2
Active Under Contract Last Week
2
Pending Listings Last Week
1
Expired Listings Last Week

Los Angeles County

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Los Angeles County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.28
53
Closed Sales Last Week
55
Closed Sales - Average Days on Market
$1,663,883
Closed Sales - Average Sales Price
16
Transactions Sold At or Above Asking Price
44
2-4 Unit Transactions Last Week
9
5+ Unit Transactions Last Week

131
New Listings Last Week
34
Months of Inventory
1,639
Total Number of Active Listings
$11,190,815,916
Active Listings, Dollar Volume
37
Active Under Contract Last Week
33
Pending Listings Last Week
17
Expired Listings Last Week

San Diego County

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San Diego County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.66%
Avg. Gross Rent Multiplier: 14.4
9
Closed Sales Last Week
70
Closed Sales - Average Days on Market
$1,545,667
Closed Sales - Average Sales Price
6
Transactions Sold At or Above Asking Price
6
Financed Transactions Last Week
3
All Cash Transactions Last Week
9
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

16
New Listings Last Week
15
Months of Inventory
134
Total Number of Active Listings
$105,685,045
Active Listings, Dollar Volume
0
Active Under Contract Last Week
13
Pending Listings Last Week
4
Expired Listings Last Week

Riverside County

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Riverside County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 5.5%
Avg. Gross Rent Multiplier: 12.09
1
Closed Sales Last Week
190
Closed Sales - Average Days on Market
$985,000
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

4
New Listings Last Week
23
Months of Inventory
96
Total Number of Active Listings
$355,690,452
Active Listings, Dollar Volume
1
Active Under Contract Last Week
3
Pending Listings Last Week
2
Expired Listings Last Week

San Bernardino County

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Live MLS Link PDF Link

San Bernardino County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 6.4%
Avg. Gross Rent Multiplier: 9.55
5
Closed Sales Last Week
72
Closed Sales - Average Days on Market
$1,066,000
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
1
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

7
New Listings Last Week
22
Months of Inventory
112
Total Number of Active Listings
$247,301,951
Active Listings, Dollar Volume
0
Active Under Contract Last Week
4
Pending Listings Last Week
1
Expired Listings Last Week

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