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
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 70
3/ 2/07 41,251 42 14 51 114 26 10 68 79 55 25 76
4/ 6/07 42,857 41 23 49 107 18 8 73 103 54 52 50
5/ 4/07 45,918 46 28 54 92 19 6 82 79 71 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
-------- ------ -------------- -------------- ----------
2/ 1/08 53,722 54 16 67 157 26 16 101 118 89 36 96
2/ 8/08 56,869 55 6 70 158 26 1 104 117 93 7 97
2/15/08
Friday, February 8, 2008
Weekly Inventory update
2/8 - Santa Monica inventory <$3M is up 4% for the week; Pacific Palisades <$2M is flat for the week; Palms-Mar Vista is up 4% for the week. Striking is that Santa Monica and Palms-Mar Vista inventory and DOM are at record levels for this time of year.
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5 comments:
am noticing that a number real estate agents are trying to flog their own investmt props without disclosing.
for example, in Santa Monica: 1053 17th st. purchased 1.2007 for 998K. this optimistic agent is asking 1.3 mil (with 'plans' ), and can't pay his prop taxes for 2007.
same agent is representing his own prop at 1015 25th st. purchased for 1.2 mil also in 1.2007 (he had a bad month), now on the market for 1.475 mil. hasn't been able to pay prop taxes on this one either in 2007. both 31 DOM.
same is true with 1731 Cedar St.--diff agent repping her own prop. prop taxes also unpaid. (am getting worried about schools with all these tax defaults). pd 940K in 2005, and listed on the MLS for 1.295 mil. 21 DOM.
hope springs eternal.
Yes
there is a two tier market here
Looks like the average house closing N or montana is selling for more than the seller paid while in rest of sm losses are being taken
i have seen almost NO houses n of montana in which the seller took a loss
not to say it wont come in the future just hasn't come yet
N of Montana in Santa Monica is the most resiliant core of the real estate market in the Westside.
Owners in that area will simply not sell if there is a possibility that they can take a loss. At this stage the heat wave sparked by the slowing economy and the subprime mortgage mess has not reached that target of the population yet. We will see.
i have no opinion about n of montana
i do see an absolute bloodbath in all areas south of montana
many homes south of montana were purchased with subprime "liar loans"
look for some truly desperate sellers s of montana soon
Hey - I'm new to this blog (have spent most of my time at MB Confidential) and have a question - am I reading this inventory data correctly? Are there really 104 homes for <$2M on the market in the Palisades? Without knowing anything about the size of the market, that seems like a big number. It's obviously big relative to a year ago, and I would assume big relative to a longer history. Can anyone put 104 for PP into perspective for me relative to other markets? Does anyone know roughly how many SFRs there are in PP vs. SM?
Any help would be much appreciated. Thanks.
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