I wondered if anything worth reporting would happen in just three days. Yes. You don't see it in the numbers, but there was quite a bit of activity, old listings back on the market, new listings, a couple into escrow, and others off the market. Net is Santa Santa Monica inventory <$3M is flat, Pacific Palisades <$2M is up 11%, and Palms-Mar Vista is up 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 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
-------- ------ -------------- -------------- ----------
1/ 4/08 42 0 54 157 21 4 80 101 80 7 106
1/11/08
2 comments:
At what point do you think we will have our first surge of inventory this year?
I have looked at past seasonal trends and it seems like we could start seeing an uptick anytime within a month or two.
Someone recently e-mailed me a flier showing that many 90402 listings have been withdrawn from the market...maybe an attempt to be able to legitimately relist and reset the DOM to 0?
Looking back on new listings in SM <$2M in 2007, not bad in January (15) and February (14), then a lot in March (23), April (28), and May (25). (Too bad I wasn't tracking in early 2006 for comparison.)
Inventory end of 2006 was more (53) than end of 2007 (43).
Interesting about the flier; were there any numbers? Could you post its text or scan and email it? That does suggest more new listings soon.
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