Weekly inventory update

6/30 - Striking is many fewer new SM listings this year: 18 in June '07 vs. 40 in June '06 (<$3M). Ideas why, lap2 or others? A few updates:

• 1505 Oak is in escrow. Guess trees didn't matter.
  
• 1639 Oak is also in escrow.
  
• 724 Navy is back on the market and reduced $30K to $919K.
  
• 12566 Woodbine is "REDUCED AGAIN, SELLER MOTIVATED!" a whole $10K to $1,239K.
  
• The City Council let stand the Landmarks designation for 2219 Ocean.

6/22 - Net is pretty flat. Updates on SM listings we've been following:

• 2638 32nd is in escrow;
  
• 718 Marine dropped its price from $869K to $840K and finally posted a photo;
  
• 3011 Virginia dropped its price from $999K to $949K. (3345 Virginia appears to have sold fast, asking $789K.)
  
• The attempted flip at 1639 Oak is still available;
  
• The vacant lot with plans at 933 25th is in escrow;
  
• 342 12th went back in escrow;
  
• Appeal of the landmark designation of 2219 Ocean will be before the Santa Monica City Council on Tuesday.

6/15 - Some sales (Including 724 Navy in escrow) and no new listings in SM. Conversely PP had a jump in listings.

6/8 - Compared to 2006, Santa Monica inventory was 7 higher a month ago but down 6 at the beginning of June, particularly because of 11 fewer new listings in May. Existing listings average twice as old now.

       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
 4/21/06  33,054  35
 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
 3/ 2/07  41,251  42  14  51 114  26  10  68  79  53  25  76
 4/ 6/07  42,857  41  23  49 107  18   8  73 103  52  52  50
 5/ 4/07  45,918  46  28  54  92  19   6  82  79  68  37  52
 6/ 1/07  52,198  50  25  61  78  17  15  87  78  77  39  53
 6/ 8/07          53   8  66  76  17   3  93  68  75  10  56
 6/15/07  52,820  42   8  54  82  22   8  97  59  73  16  54
 6/22/07  51,626  42  14  55  82  18  10  94  67  75  27  52
 6/30/07  52,769  43  18  57  81  17  11  92  77  73  33  61
 7/ 6/07    

All Westside (updated 1st Fri. of mo.)

                   2/9  3/1  4/6  5/4  6/1 6/30
Bel Air-Holmby Hls. 86   86   92  100  103   99
Beverly Center-M.M. 64   57   48   53   54   65
Beverly Hills       67   70   56   46   53   49
B.H. Post Office    94   91   92   88   93   95
Beverlywood Vic.    35   36   31   39   38   41
Brentwood           67   71   73   75   72   68
Cheviot Hills-R.Pk. 22   20   19   22   23   22
Culver City         35   25   20   28   33   36
Malibu             178  181  192  199  206  220
Malibu Beach        42   44   51   52   56   58
Marina Del Rey      20   20   20   27   29   28
Pacific Palisades   64   68   73   82   87   92
Palms-Mar Vista     62   53   52   68   77   73
Playa Del Rey        7    8   17   20   21   20
Playa Vista          3    2    3    1    3    5
Santa Monica        50   50   49   53   61   57
Sunset Stp.-Hwd.H. 155  178  159  166  180  168
Topanga             39   41   36   43   45   54
Venice              64   64   57   68   70   72
West Hollywood Vic. 23   32   25   36   42   41
West L.A.           19   21   25   24   25   34
Westchester         53   46   47   45   53   52
Westwood-Cent.City  33   44   37   42   33   34
                  ____ ____ ____ ____ ____ ____
Total             1282 1308 1274 1377 1457 1483
Month-month incr.        2%  -3%   8%   6%   2%

Notes

LA County inventory via OC Renter. Santa Monica Days on Market (DOM) is for <$3M, and omits Santa Monica Canyon (in City of Los Angeles but S.M. Post Office). Pacific Palisades DOM is for <$2M and count omits mobile homes. "New" is for previous month, or month-to-date for current partial month.