Pacific Palisades listings inventory continues at record levels. I've only been tracking them individually below $2M, but let's use those to start a baseline of PP listings over 30 days on the market.
Of 36 below $2M on the market, 27 are over 30 days and 14 are over 90 days. A bare majority have had some price reduction, but apparently not enough.
(The photo house at 557 Almar is asking $1,700K. Nice location in El Medio Bluffs, but is a tear-down with no view really worth that?
"Great Builder Opportunity!! This 3BD/2BA single level Trad home is a Tear Down on a large 7880 sq ft lot (per assessor). This is a probate. Court confirmation is required.")
713 Hampden Pl, 2 bed/1.5 bath, CLP=$1,050K (+$4%), OLD=3/14/08
520 Bienveneda Ave, 2/1, $1,185K (-8%), 9/17/07
825 Radcliffe Ave, 3/2, $1,299K (-6%), 8/2/07
15314 Earlham St, 2/1, $1,349K (-10%), 2/28/08
751 Chautauqua, 2/1, $1,449K (-9%), 4/10/08
834 Hartzell St, 4/2, $1,449, 3/31/08
1101 Las Lomas Ave, 3/2, $1,475K (-5%), 2/25/08
946 Las Lomas Ave, 4/3, $1,499K, 4/9/08
1360 Goucher St, 3/2.5, $1,525K (-18%), 3/29/07
1315 Avenida de Cortez, 5/3, $1,549K (-3%), 1/31/08
16788 Calle de Marisa, 4/4, $1,599K (-14%), 11/6/07
16927 Livorno Dr, 2/1.5, $1,599K (-6%), 3/14/08
16572 Chattanooga Pl, 3/2.5, $1,599K (-11%), 10/18/07
3719 Seahorn Dr, 4/2, $1,649K, 3/27/08
601 Erskine Dr, 2/1.75, $1,650K, 3/20/08
16749 Bollinger Dr, 2/2.5, $1,695K (-3%), 11/5/07
14747 Oracle Pl, 3/2.5, $1,699K, 2/15/08
557 Almar Ave (photo), 3/2, $1,700K, 4/18/08
16981 Avenida de Santa Ynez, 4/2.5, $1,729K (-4%), 3/5/08
16750 Calle de Catalina, 4/4, $1,750K, 3/26/08
3716 Surfwood Dr, 3/2.5, $1,750K (-4%), 1/18/08
16766 Calle de Catalina, 4/3.5, $1,750K, 1/23/08
217 Giardino Wy, 3/3, $1,795K, 1/31/08
1462 Paseo de Oro, 5/4, $1,825K, 1/4/08
17026 Avenida de Santa Ynez, 4/3, $1,895K, 4/17/08
16647 Charmel Ln, 4/4, $1,899K (-4%), 6/15/07
16463 Akron St, 3/2, $1,995K, 1/10/08
Saturday, May 24, 2008
Not selling in Pacific Palisades
Weekly inventory update
5/23 - SM and PP <$2M are down 5%, but PP total is up 4% to another record; MV is up 4%.
5/16 - SM is flat; PP is up; MV is down. Well-priced listings sell; others sit.
5/9 - Santa Monica is up from a surge of new listings; Pacific Palisades and Mar Vista are flat.
LA County Santa Monica Pacific Palisades Mar Vista
<$3M New Tot DOM<$2M New Tot DOM Tot New DOM
-------- ------ -------------- -------------- ----------
1/30/06 27,732
2/28/06 29,420
3/31/06 31,819
5/ 1/06 34,032 38 33
6/ 2/06 37,847 56 36 38
6/30/06 42,317 66 40 49
8/ 4/06 45,315 70 34 50
9/ 1/06 46,781 71 27 59
10/ 6/06 47,369 83 25 98 71
11/ 3/06 45,780 80 20 91 77
12/ 1/06 43,103 65 18 72 96 39 20
1/ 5/07 35,646 54 4 60 117 33 6 71 66
-------- ------ -------------- -------------- ----------
2/ 2/07 36,715 38 15 45 124 29 16 61 71 70
3/ 2/07 41,251 42 14 51 114 26 10 68 79 55 25 76
4/ 6/07 42,857 41 23 49 107 18 8 73 103 54 52 50
5/ 4/07 45,918 46 28 54 92 19 6 82 79 71 37 52
6/ 1/07 52,198 50 25 61 78 17 15 87 78 77 39 53
6/30/07 52,769 42 18 56 81 17 11 92 77 74 33 61
8/ 3/07 54,166 53 28 68 86 23 12 78 76 84 39 68
8/31/07 57,432 57 21 72 98 18 7 69 75 90 40 79
9/28/07 58,973 59 17 74 103 26 9 90 81 87 20 87
11/ 2/07 58,731 62 19 81 120 29 7 106 77 98 35 88
11/30/07 59,108 52 14 67 136 23 11 88 94 96 23 96
12/31/07 53,475 42 5 53 148 19 2 73 119 79 13 116
-------- ------ -------------- -------------- ----------
2/ 1/08 53,722 54 16 67 157 26 16 101 118 89 36 96
2/29/08 53,520 50 10 68 178 29 8 108 108 88 21 103
3/28/08 53,566 57 17 81 171 32 14 122 92 82 22 105
5/ 2/08 54,098 59 14 83 159 35 7 136 93 90 33 96
5/ 9/08 65 13 86 143 35 4 135 99 90 5 100
5/16/08 53,915 65 17 86 135 38 6 136 100 83 9 100
5/23/08 62 19 83 141 36 8 141 103 86 16 102
5/30/08
Tuesday, May 20, 2008
Not selling north of Montana
The LA Times front page today includes, "CA mansion for sale, cheap. OK, cheaper." It begins,
The rich may indeed be like the rest of us. Prices of their homes are now falling too.Perfect timing to update our everything over 30 days on the market north of Montana.
Gated mansions and hillside estates have held their own through most of the real estate slump, but data released Monday showed big drops in the region's most exclusive neighborhoods.
At 21 it matches last month and is double the past months' average, net of some sales and other new additions. Over 90 days on the market (red below) is down two, from 9 to 7. Here's the detail:
420 7th, 2 bed/2 bath, CLP=$1,777K (+27%**), OLD=8/16/07 (**redone to sell after first listing)
1140 San Vicente, 0/0, $1,895K (-14%), 1/30/08
517 Euclid, 5/2, $2,195K, 4/19/08
754 23rd, 4/3.5, $2,279K (-15%), 6/8/06
710 19th, 3/2, $2,295K (-8%), 3/10/08
460 Lincoln, 3/3, $2,395K, 4/14/08
238 17th, 4/3.5, $2,635K (-2%), 3/11/08
541 Euclid, 4/4.5, $3,200K (-7%), 4/7/08
1820 San Vicente, 4/3.5, $3,295K, 3/6/08
723 22nd, 4/4.5, $3,350K (-6%), 4/1/08
369 22nd, 5/4.5, $3,599K (-5%), 1/18/08
714 14th, 5/5.5, $3,695K (-1%), 2/26/08
636 22nd, 5/4.5, $3,995K, 3/14/08
316 25th, 5/5.5, $3,995K(-15%), 2/6/08
333 14th (photo), 5/6, $4,195K (-14%), 6/29/07
424 14th, 6/6.5, $4,195K, 3/6/08
734 22nd, 5/4.5, $4,288K, 3/21/08
205 19th, 4/5.5, $4,350K (-3%), 4/2/08
425 4th, 5/5.5, $4,890K (-6%), 2/4/08
508 Marguerita, 5/3.5, $5,495K (-4%), 4/18/08
808 Adelaide Pl, 7/10, $16,975K, 3/31/08
Monday, May 19, 2008
April DataQuick
Today's DataQuick April headline is "Southland home sales highest in eight months". But Los Angeles County median price continued down, now 20.9% below last August's peak, and sales volume is down 30.6% from April 2007. "Highest in eight months" is faint praise, especially as sales always turn up in the second quarter.
In neighboring counties there was a slight price uptick in Ventura and San Diego Counties. (Link to March DataQuick.)
Saturday, May 17, 2008
Weekly inventory update
5/16 - SM is flat; PP is up; MV is down. Well-priced listings sell; others sit.
5/9 - Santa Monica is up from a surge of new listings; Pacific Palisades and Mar Vista are flat.
LA County Santa Monica Pacific Palisades Mar Vista
<$3M New Tot DOM<$2M New Tot DOM Tot New DOM
-------- ------ -------------- -------------- ----------
1/30/06 27,732
2/28/06 29,420
3/31/06 31,819
5/ 1/06 34,032 38 33
6/ 2/06 37,847 56 36 38
6/30/06 42,317 66 40 49
8/ 4/06 45,315 70 34 50
9/ 1/06 46,781 71 27 59
10/ 6/06 47,369 83 25 98 71
11/ 3/06 45,780 80 20 91 77
12/ 1/06 43,103 65 18 72 96 39 20
1/ 5/07 35,646 54 4 60 117 33 6 71 66
-------- ------ -------------- -------------- ----------
2/ 2/07 36,715 38 15 45 124 29 16 61 71 70
3/ 2/07 41,251 42 14 51 114 26 10 68 79 55 25 76
4/ 6/07 42,857 41 23 49 107 18 8 73 103 54 52 50
5/ 4/07 45,918 46 28 54 92 19 6 82 79 71 37 52
6/ 1/07 52,198 50 25 61 78 17 15 87 78 77 39 53
6/30/07 52,769 42 18 56 81 17 11 92 77 74 33 61
8/ 3/07 54,166 53 28 68 86 23 12 78 76 84 39 68
8/31/07 57,432 57 21 72 98 18 7 69 75 90 40 79
9/28/07 58,973 59 17 74 103 26 9 90 81 87 20 87
11/ 2/07 58,731 62 19 81 120 29 7 106 77 98 35 88
11/30/07 59,108 52 14 67 136 23 11 88 94 96 23 96
12/31/07 53,475 42 5 53 148 19 2 73 119 79 13 116
-------- ------ -------------- -------------- ----------
2/ 1/08 53,722 54 16 67 157 26 16 101 118 89 36 96
2/29/08 53,520 50 10 68 178 29 8 108 108 88 21 103
3/28/08 53,566 57 17 81 171 32 14 122 92 82 22 105
5/ 2/08 54,098 59 14 83 159 35 7 136 93 90 33 96
5/ 9/08 65 13 86 143 35 4 135 99 90 5 100
5/16/08 53,915 65 17 86 135 38 6 136 100 83 9 100
5/23/08
Friday, May 16, 2008
Not selling in Sunset Park
To round out Santa Monica, here's an update on inventory over 30 days on the market in Sunset Park (east of Lincoln, south of Pico).
5/16/08 - 14
1/16/08 - 14
12/15/07 - 15
11/14/07 - 24
10/15/07 - 19
9/13/07 - 16
8/15/07 - 12
7/14/07 - 13
So Sunset Park is more like Ocean Park, below last November's peak. Over half are over 90 days on the market. Here's the list (not including some recent listings).
2620 24th St, 2 bed/2 bath, CLP=$975K (-17%), OLD=12/26/07
1322 Maple St, 2/1, $999K, 3/12/08
1717 Robson Av, 2/1, $1,039K (-13%), 10/12/07
2314 Pier Av, 2/2, $1,099K (-12%), 7/9/07 (sold 3/23/07 $920K)
2224 Navy St, 2/1, $1,149K (-8%), 6/5/07
2424 Cloverfield Bl, 3/2, $1,219K (-2%), 3/21/08
1731 Cedar St, 3/1, $1,256K (-3%), 1/18/07
1225 Grant St, 3/2, $1,349K (-3%), 4/3/08
1215 Ashland Av, 3/1, $1,350K, 4/18/08
1621 Ashland Av, 2/1.5, $1,479K (-12%), 8/13/07
2637 34th St, 4/3.5, $1,695K, 3/25/08
1047 Pacific St, 3/2, $1,750K (-8%), 2/25/08
1611 Sunset Av, 3/3, $1,998K (-7%), 1/30/08
2516 Cloverfield Bl (photo), 4/3, $2,189 (-16%), 7/15/07
Thursday, May 15, 2008
Not selling in Ocean Park
Let's see how Ocean Park (SM west of Lincoln, south of Pico) inventory over 30 days compares with last fall-winter.
5/15/08 - 11
1/16/08 - 15
12/15/07 - 16
11/14/07 - 15
10/15/07 - 10
9/15/07 - 10
8/19/07 - 11
So unlike north of Montana, it's at last fall's level, but with all but two over 90 days on the market (red below). Few new listings and very stuck old ones, two from 2006. Here's the detail:
718 Marine St, 1 bed/1 bath, CLP=$799K (-8%), OLD=5/25/07
727 Marine St, 2/1, $799K, 2/7/08
748 Navy St, 1/1, $899K (-10%), 3/5/08
213 Pacific St #2/3, 3/2, $1,529K (-1%), 8/1/07
2629 6th St (photo), 3/2, $1,750K (+3%), 10/3/06
2912 2nd St, 2/1, $1,900K (+31% for condo plans), 12/29/06
654 Ashland Ave, 3/2, $1,995K (-13%), 11/8/07
152 Hart Ave, 4/3, $2,200K, 2/8/08
150 Fraser Ave, 2/2, $2,295K (-8%), 10/4/07
2517 3rd St, 3/2, $2,498K, 4/10/08
2606 Highland, 2/2.75, $3,000K (-14%), 11/9/07
