Saturday, June 30, 2007

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:

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

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.

17 comments:

War Chest said...

The empty lot on the 900 block of 25th street had an open house yesterday!! haha, an open house where there is no house...just dirt, and a realtor sitting at a table with balloons and flags...priceless.

I think that it would be funny to make "westside bubble" business cards and hand them out at open houses to everyone coming in...or maybe just put a post-it note with the west side bubble web address next to the sign in sheet (or on it)...Maybe if rates keep rising it will make the paint dry faster.

dwr said...

1639 Oak had its 4th (or 5th, I've lost count) open house today. As I mentioned a while back, two realtors bought this POS to flip it. No commissions, stuck with a flop, gotta love it.

Anonymous said...

On the other hand, some property is selling. In Sunset Park, the house at 2607 Pearl listed at $1.649 was on the market for less than two weeks. According to the neighbor, the sellers had multiple offers and have already accepted something.

Anonymous said...

dwr, why are you so concerned an cheerfull about the sellers on oak? don't you worry, they will sell it and make money on it and what are you going to blog than?

dwr said...

"dwr, why are you so concerned an cheerfull about the sellers on oak? don't you worry, they will sell it and make money on it and what are you going to blog than?"

Hmmm, maybe I'll blog about grammar after it sells. Do come back, I think you'll find it useful (or is it usefull?).

Anonymous said...

"Hmmm, maybe I'll blog about grammar after it sells. Do come back, I think you'll find it useful (or is it usefull?)."

That proves it, I guess your grammar is good but financial IQ is ? Take grammar to the bank hahaha.

dwr said...

"That proves it, I guess your grammar is good but financial IQ is ? Take grammar to the bank hahaha."

My financial IQ is high enough to know that 1639 Oak is still a POS and it's in a crap location. Good luck with your flop, Anthony and Gabriela.

Anonymous said...

dwr, 1639 Oak is in escrow. It just proves that your financial IQ is very poor. You may be good at grammar but you have no clue when it comes to real estate. So again, take that to the bank.

dwr said...

"dwr, 1639 Oak is in escrow. It just proves that your financial IQ is very poor. You may be good at grammar but you have no clue when it comes to real estate. So again, take that to the bank."

Assuming you're telling the truth (which is a big assumption when dealing with a real estate clerk) we'll see if it actually closes escrow. And if it does close, you'd better save some of that "hard earned" money, you're going to need it when transitioning to your new career.

Anonymous said...

drw, what is wrong, you're loosing your cool. It is OK to be wrong, boy when you're wrong, you're wrong. Never assume anything, check the facts, afterall you know it all and me, oh well, I guess I better go back to my real estate clerk job and start saving money for my flop;-)

war chest said...

New teardown for sale on Washington just west of 23rd...Don't know what the story is there.

The teardown on 23rd just half a block south of Washington still has the "sale pending" sign on it. I just wonder why you would want to buy on that street...very very busy street and has those annoying speed bumps.

And what the heck is going on with that Idaho flip! That thing has been sitting for a while now.

The guy who is selling the empty lot on 25th moved into the house across the street (which sold for over $3 million and had an original asking price of $2.9). Big persian party...doesn't look like this is a flipper or anything.

war said...

Yet another to be sold with plans and permits!

The house on Washington I mentioned before...

2222 Washington - Asking $1.7

Previous sale
03/29/2007 $1,010,000

You get plans and permits with your purchase but its funny because in the description it talks about the new layout as if the new house was already built! Anyone know anything about this place or why the person who bought it a few months ago thinks they are entitled to a $700K profit?

The lot is tiny (5K square feet)...go check out the Idaho flip to see how cramped a small lot makes things feel.

Also seeing as how the tear down on 23rd just a half block south was asking $1.5, this place looks like a rip off.

Craig said...

Was driving around today...sure doesn't look like that much of a shortage of inventory. 22nd street north of Montana had 3 houses for sale on the 700 block alone. And there seems to be another further up...

Anonymous said...

We've got a long, long time to go before there's any sanity around here.

I walked thru open houses at 745 and 724 navy.

745 literally looks like it's made of plywood and corrugated _plastic_ -- yes it has the middle of three rooms covered in corrugated plastic! Anyway, 745 is a railroad, 3 rooms, whereas

... 724 they've actually tried to create a layout that's an open LR/DR/K on the left side, and Jack n Jill on the right, which works great if you only want a twin bed or cot in the BRs (there is a master in the back.

Anyway, screw the crap boxes that are sitting on these sites, these asking prices come out to about $500/ft for the dirt!!!!

Oy.

Anonymous said...

... one more note about 724 and745 Navy open houses.

Not a single other person at either, nor had anyone signed up on the signup sheet (this was 3pm). I told both realtors I was just a lookie lou, and they both were basically happy for the company.

common sense said...

anonymous realtor:

you are such a fool to think that money grows on trees. your posts are the most illiterate i've ever seen. you laugh about your lack of education and think the money you've made (and are about to lose) in real estate vindicates you. i can just see you now in your mercedes with your fake breasts/enhanced penis, cruising along without a clue that you're about to drive over a cliff. i can't wait till a few years from now, when you are eating out of a dumpster and drinking from a toilet bowl. you are the true meaning of retarded.

alan k. said...

Love the realtor who's proud of his third-grade education!