Friday, October 26, 2007

Weekly inventory update

10/26 - SM inventory <$3M is down 5% and PP <$2M is down 4%, due to few new listings, but MV is up another 3%. "Freeway Close" dropped its price another $60K.

10/19 - SM inventory <$3M is down 4%, PP <$2M is down 13%, but MV is up 9%. No longer listed include 611 14th ($2.049M), 2158 La Mesa ($5.5M), and 1020 Palisades Beach Road ($10.55M) in SM, and 3653 Mountain View ($3.395M) in MV.

10/12 - SM inventory <$3M is up 5% for the week, PP <$2M is up 11% and MV is up 2%, with more price reductions. (Corrected - thanks, Dan; pesky Excel formula didn't survive inserting columns.)

10/5 - SM inventory <$3M is up 10% for the week, and the highest this year; PP <$2M is up 4%; MV is down 1%.

       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
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 59 17 74 103 26 9 90 81 87 20 87
10/ 5/07 58,973 65 8 81 98 27 2 95 85 86 6 87
10/12/07 58,918 69 13 85 102 30 5 103 64 88 13 87
10/19/07 59,029 66 16 81 105 26 6 96 70 96 21 87
10/26/07 63 18 80 105 25 6 97 76 100 29 87
11/ 2/07

4 comments:

Anonymous said...

www.visaliamarketreport.com

Anonymous said...

North of Montana inventory seems pretty low

i believe that at one point someone said that there are 9000 houses North of Montana - does that include the canyon, or are there 9000 houses between montana and san vicente and between the ocean and 26th?

if anyone has the accurate figure for that zone north of montana south of san vicente, ocean to 26th i would be very grateful

clearly the price of teardowns on a normal 7500 sq foot lot was at 300k in 1984 then 900k in 1990 then 600k in 1995 then 2.3 in early 2007 and as of today the market clearing price of the small number on the market is under 2.0 million.

Does anyone reading this get the sense that the teardowns that are closing now are closer to 1.4 million or more like 1.8 million?

Don't flame me, it is just that teardowns N of Montana are literally the only apples to apples way you can track the market over long periods of time.

Looking at average house price doen't work since the mix of houses changes over time

thanks

Westside Bubble said...

Here's an estimate of number of houses north of Montana. US Census tracts 7012.01 (east of 14th) and 7013.01 (west of 14th) approximately cover that area, but not the part of Santa Monica Canyon in 90402 not in the City of Santa Monica (which I exclude from my inventory).

From factfinder.census.gov, 2000 census, total population was 10,361. Total housing units was 4,896 (including the apartments on the west). So 9,000 is about double the actual.

See the next main post for more....

d said...

Down? Who exactly is buying in the market?