Friday, August 3, 2007

Weekly Inventory Update

8/3 - Westside inventory is up 2.6% from the end of July. I also seem to be seeing more price reductions and failed escrows (financing failed?) in Santa Monica, Palisades, and Mar Vista.

7/27 - Santa Monica is down (only 2 new listings for the week). Palisades is up. Mar Vista is flat. Oh, and the Dow was down another 208 points today, 4.2% for the week.

7/20 - Inventory is down a bit, from fewer new listings. Properties featured here that are no longer active include 3208 Urban, 1020 Chelsea, 2820 2nd, 1221 Georgina, and 461 Puerto del Mar (guess they finally found their price after 10 reductions). Wonder if being featured here helped them sell? Already a $200K reduction for 2516 Cloverfield.

7/13 - Really big inventory jump in SM, up 10 from last week, from 21 new listings in July, more than the 18 for all of June (<$3M). Palisades is slightly down, and Mar Vista is flat.

7/6 - Big inventory rebound this week: SM up 5, from 7 new listings <$3M; PP up 5, from 5 new listings <$2M; MV up 6, from 9 new listings. But at 48, SM inventory <$3M is still well below the 67 of a year ago.

       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
6/30/07 52,769 42 18 56 81 17 11 92 77 74 33 61
7/ 6/07 47 7 61 76 21 5 90 68 80 9 60
7/13/07 52,517 57 21 73 64 20 5 84 77 80 16 62
7/20/07 53 25 67 71 17 6 81 74 78 23 67
7/27/07 53,505 46 27 60 79 21 11 85 71 78 34 69
8/ 3/07 54,166 53 28 68 86 23 12 78 76 84 38 68
8/10/07

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

                   2/9  3/1  4/6  5/4  6/1 6/30 8/03
Bel Air-Holmby Hls. 86 86 92 100 103 99 86
Beverly Center-M.M. 64 57 48 53 54 65 64
Beverly Hills 67 70 56 46 53 49 59
B.H. Post Office 94 91 92 88 93 95 92
Beverlywood Vic. 35 36 31 39 38 41 42
Brentwood 67 71 73 75 72 68 86
Cheviot Hills-R.Pk. 22 20 19 22 23 22 26
Culver City 35 25 20 28 33 36 41
Malibu 178 181 192 199 206 220 224
Malibu Beach 42 44 51 52 56 58 54
Marina Del Rey 20 20 20 27 29 28 26
Pacific Palisades 64 68 73 82 87 92 78
Palms-Mar Vista 62 53 52 68 77 73 84
Playa Del Rey 7 8 17 20 21 20 21
Playa Vista 3 2 3 1 3 5 4
Santa Monica 50 50 49 53 61 57 68
Sunset Stp.-Hwd.H. 155 178 159 166 180 168 187
Topanga 39 41 36 43 45 54 49
Venice 64 64 57 68 70 72 69
West Hollywood Vic. 23 32 25 36 42 41 40
West L.A. 19 21 25 24 25 34 31
Westchester 53 46 47 45 53 52 62
Westwood-Cent.City 33 44 37 42 33 34 29
____ ____ ____ ____ ____ ____ ____
Total 1282 1308 1274 1377 1457 1483 1522
Month-month incr. 2% -3% 8% 6% 2% 3%

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.

2 comments:

waitingpatiently said...

why is there always so much inventory in malibu? is it bigger or was there more speculation there? i have a friend who lives there, and when i go out to visit him it seems like every other house is for sale. ditto beverly glen blvd up and down the mountain. has anyone driven up the hill lately -- seems like EVERY house is for sale.

speedingpullet said...

Wating, I know what you mean - we've been doing a lot of driving around Malibu and the canyons recently, and every other place is for sale!

Problem being that the prices are ridiculous - there's almost nothing for under 1 million and very little for under 2 million. And they sit and sit - a lot of these places have been listed for almost a year with no sign of selling.

I guess thery're waiting out for some rich movie stars, or music moguls, to come and buy. Normal people simply can't afford it.

Its especially galling when you look at the sales history for some of these places - most were sold for half of what they're asking now, even if the last sale after 2000.

Throw in the fact that, even if you work on the Westside, its a 20 - 30 mile commute on the PCH every day - crazy prices.