Friday, May 30, 2008

Monthly inventory update

5/30 - Santa Monica <$3M is down for the week and month, but up for >$2M. Pacific Palisades <$2M is similarly down for the week and month, but up for >$2M to another record total. Palms/Mar Vista is up for the week (lot of new listings) and month. The Westside total is up 3.8% for the month and up 32% over May 2007 (note I added 2007 monthly totals at the bottom of the table below).

5/23 - SM and PP <$2M are down 5%, but PP total is up 4% to another record; MV is up 4%.

5/16 - SM is flat; PP is up; MV is down. Well-priced listings sell; others sit.

5/9 - Santa Monica is up from a surge of new listings; Pacific Palisades and Mar Vista are flat.

       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
2/29/08 53,520 50 10 68 178 29 8 108 108 88 21 103
3/28/08 53,566 57 17 81 171 32 14 122 92 82 22 105
5/ 2/08 54,098 59 14 83 159 35 7 136 93 90 33 96
5/ 9/08 65 13 86 143 35 4 135 99 90 5 100
5/16/08 53,915 65 17 86 135 38 6 136 100 83 9 100
5/23/08 62 19 83 141 36 8 141 103 86 16 102
5/30/08 56 23 79 147 34 9 142 106 91 29 89
6/ 6/08
All Westside

             2/1    3/28    5/30 
2/29 5/2

Bel Air-H.Hls.85 82 95 100 108
Bev.Ctr.-M.M. 71 67 75 79 80
Beverly Hills 65 64 66 78 84
B.H. P.O. 78 80 92 95 101
B'wood Vic. 50 56 53 57 67
Brentwood 77 86 96 104 108
Chev.-R.Pk.'8'21 19 20 24 25
Culver City 42 48 50 57 59
Malibu 185 200 213 242 261
Malibu Beach 38 49 57 60 50
Marina Del Rey26 36 25 25 26
Pac.Palisades101 108 122 136 142
Palms-M.Vista 89 88 82 90 92
Playa Del Rey 22 19 15 15 23
Playa Vista 5 4 6 5 5
Santa Monica 67 68 81 84 79
Sunset-Hwd.H.189 185 215 240 241
Topanga 49 44 63 69 66
Venice 72 72 74 83 85
W.H'wood Vic. 48 51 48 43 46
West L.A. 20 18 25 25 25
Westchester 72 54 79 86 91
W'wood-C.City 37 36 42 49 53
___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
2008 Total 1509 1694 1917
1524 1846
2007 Total 1282 1274 1457 1522 1671 1600
1308 1377 1483 1551 1731 1329

Notes

See here for 2007 monthly totals. 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.

7 comments:

Anonymous said...

Not an insightful comment here, but since there were no other comments on this page I thought I'd cover the Riviera area of PP -- that whole $4mil+ price range; since I can't afford what seems to be every house I like on the Westside at $2mil, I might as well go all out and look at houses I really can't afford. (At least they are beautiful!)

521 AMALFI Dr, PACIFIC PALISADES, CA 90272
Price: $3,775,000
ON REDFIN: 227 days

"RE-ENVISION. REMODEL. REBUILD. ...
A STRONG MARKET BUY FOR DEVELOPERS, OWNER/USERS OR FIRST-TIME RIVIERA FAMILIES"

Just wanted to point out this great "Strong market buy" for all of you Owner/Users out there that may have missed this one (since it's been on the market 227 days. It certainly doesn't look like a teardown to me, but "rebuild" must mean that it doesn't have granite countertops! Do you think there's a greeting committee that visits "First-Time Riviera Families", delivering baskets of muffins?

Anonymous said...

The riviera is a GREAT family neighborhood - most of the folks i know there really do go out of their way to welcome new families to the neighborhood

great public parks nearby

the sad fact is that if you want this kind of community you have to be prepared to pay 3 million plus

i wish it were different but there it is -

Anonymous said...

have you seen 411 lincoln - really well done new home

i think 5.8 million is a little ambitious for a house on a normal sized lot but let's see what they get

Anonymous said...

I continue to be astounded as to how cheap the best neighborhood in sm is compared to the Second best neighborhood in manhattan beach

the best of manhattan beach is the strand - let's ignore that

the second best of manhattan beach are the blocks close to the strand but not on the strand

they value 1500 square foot pieces of land at 2 million down in MB

so you can either pay 2 million for a huge 7500 sq foot piece of land in the 90402 or the same 2 million for a 1500 sq foot piece of land

again, it is crazy how cheap the 90402 is especially when you consider how much of a shorter commute it is from the 90402 to good jobs vs the commute from MB

Anonymous said...

owner/user? That's a term not often used in residential.

Anonymous said...

RE: MB Vs NoMO
First, in NoMo you are nowhere near as close to the sand/sea/ocean views as you are in the MB Sand Section. Also, the price you quote is for a tiny collection of pier proximity walk streets that are absurdely coveted. Most of the lots are around 3,000sf. You may get more yard in NoMo, but you'll probably end up with the same size home given the high allowable FAR in MB. MB has better schools. There are more reasons for the high valuation.

It just doesn't seem that much different in value to me. Maybe it's better to compare to NoMo to the hill section of MB.

Oh, and you don't get to call 7,500sf lots "huge".

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