OC Apartment Brokers
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.
List of Closed Sales
Southern California
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.
List of Closed Sales