Beverly Hills-Based Teles Properties' New Micro Market Study Shows a Residential Sales Volume Increase in 10 of 17 Local Markets for April.--Santa Monica's Home Sales Volume Doubles March's Numbers; Only Four Markets Improved Sales Over Same Period '07-- LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Beverly Hills-based residential real estate agency Teles Properties released its monthly Micro Market Report showing an overall growth in sales volume throughout the greater Los Angeles area The Greater Los Angeles Area, or the Southland, is the agglomeration of urbanized area around the city of Los Angeles, California, United States. There are two "official" definitions—the Los Angeles metropolitan area consisting only of the Los Angeles and Orange for the month of April. The April performance report indicates that sales volume in 10 of 17 tracked markets was higher than March's totals, while Santa Monica's sales volume doubled over March. Only 4 of the 17 markets - Bel Air Bel Air may refer to: Places in the United States:
A community of southern California northeast of Beverly Hills. It is mainly residential. Population: 36,600. , Cheviot Hills Cheviot Hills (chĕv`ēət, chēv`–), range, c.35 mi (56 km) long, extending along part of the border between Scotland and England. The highest point is The Cheviot (2,676 ft/816 m). and Rancho Park - showed sales volume increases for April '08 over April '07. The Micro Market analysis, highlighting residential real estate nuances in different areas and neighborhoods within Los Angeles, recorded varied activity from the previous months tracked in 2008. Open House activity is very strong as the mood and confidence of buyers improve, while sellers are beginning to enter the market at market value and/or reducing listing prices until market value is found. Though financing is still the major obstacle for buyers and sellers alike, first time buyers are back in the market while top of the market remains very strong. Specific observations of the Micro Market study, compiled using MLS See multilevel security. [R]/CLAW, include: * Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , Beverly Hills Post Office Beverly Hills Post Office (BHPO) is the name given to a section of Los Angeles, California, that lies within the 90210 ZIP code, which is assigned to the Beverly Hills Post Office. and Brentwood, which were the best performing markets for the year, took the brunt of the lower sales volume in April. * Venice made a strong comeback by tripling sales volume over March '08, while nearly matching April '07. * Hancock Park
Hancock Park is a park in Miracle Mile, Los Angeles, California which is the location of the La Brea Tar Pits, the George C. Page Museum of La Brea Discoveries, and LACMA. continues to perform well, nearly matching March's sales volume. * Median prices improved for 13 of the 17 markets in April over March, while only six markets improved in this category for April '08 compared to April '07. * Sunset Strip The Sunset Strip is the name given to the mile and a half stretch of Sunset Boulevard that passes through West Hollywood, California. It extends from West Hollywood's east border with Hollywood at Marmont Lane to its west border with Beverly Hills at Phyllis street. improved to a median price of $1,740,000/home for April compared to $1,539,000 for April '07 and $1,475,000 for March '08. * Cheviot Hills/Rancho Park enjoyed a median price of $1,645,000 for April compared to $1,600,000 for April '07 and $1,417,000 for last month. * Venice surged to $1,200,000 from $969,000 in April '07. "While most real estate news reports are national and statewide in scope, we're focusing on our local micro markets, which often behave quite differently," said Lou Piatt, Teles Properties CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our observations have consistently revealed that neighboring markets in Los Angeles may be performing differently from each other and the national averages. For instance, the median prices in many of the markets we study are increasing, which contradicts current news analysis." For the complete Micro Markets report, please visit www.telesproperties.com, or contact Ryan Croy of Fifteen Minutes PR at 323-556-9700 or ryan@fifteenminutes.com. About Teles Properties Founded by Lou Piatt, former President of Jon Douglas Company; Peter Hernandez, former President of Coldwell Banker Orange County; and Steve Shull, President of Performance Coaching, Teles Properties is the fastest-growing luxury residential real estate agency in Los Angeles. Boasting an innovative, profit-sharing model designed to provide both exceptional agents and exceptional customers with unparalleled services, Teles Properties has attracted 35 top-producing, veteran agents since opening its doors in November of 2007. Teles provides its agents with superior in-house services such as coaching, marketing, business administration and technology, allowing them to spend more time focusing on the needs of their clients. Each agent has the opportunity to participate in a profit-sharing program and real estate investment opportunities structured to form a dynamic partnership between the company and its employees. The company is anchored in Beverly Hills with a second office opening soon in Brentwood, and expansion possibilities in key high-end markets throughout California. Located at 9811 Santa Monica Blvd. in Beverly Hills, Teles Properties can be reached by telephone at 424-202-3200. |
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