OC Apartment Brokers
SoCal Multifamily Sales Pulse -July 11, 2021 - July 17, 2021
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Here's What's Happening In The Market, Here’s What This Means For You
Orange County
Orange County multifamily had a total of 10 Closed Sales Last Week. This is down from the prior 2 weeks when there were 12 and 16 closed sales. Closed Sales - Average Days on Market was down to just 19 days.
The majority of the Closed Sales Last Week were again in mostly coastal/beach cities. There were two closed sales in San Clemente, two 4 plex sales in Costa Mesa and two 4 plex sales in Huntington Beach.
There were 20 New Listings Last Week. This is a high point for new listings not seen in quite a while. Months of Inventory remained at 3 months while the Total Number of Active Listings was up at 163 listings. Single-family homes have been seeing an uptick in inventory the last few weeks. Perhaps it’s also affecting multifamily properties.
List of Closed Sales
Southern California
Long Beach multifamily had 6 Closed Sales Last Week. Matching the low point in closed sales from 3 weeks ago. Four of the six closed sales were duplexes. And four of the six closed sales were Transactions Sold At or Above Asking Price. Closed Sales - Average Days on Market was down to just 15 days. The closed sales that were on the market the fewest days were also the ones that Sold At or Above the Asking Price.
Both Total Number of Active Listings and Months of Inventory stats were pretty consistent with prior weeks. The lack of listings, in general, is probably contributing to the lower number of sales in comparison to both Orange and Los Angeles County.
List of Closed Sales