Friday, June 13, 2008

Weekly inventory update

6/13 - SM and MV are up; PP is down.

Another $200K reduction on 16463 Akron, PP, now a whopping 44% off original list price!

6/6 - SM is back up from last week's dip; PP's total is another record; MV is up. All are well above this time last year.

Be sure to see OC Renter's new Option ARM update.

       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
5/30/08 53,216 56 23 79 147 34 9 142 106 91 29 89
6/ 6/08 60 3 84 150 34 3 144 99 92 6 92
6/13/08 63 13 85 140 30 4 136 105 95 12 96
6/20/08

8 comments:

Anonymous said...

Total newbie here- by "Up" do you mean inventory of unsold homes or ales being made?
Sorry- still learning. And very appreciative of the information you are supplying here on your blog!

Anonymous said...

What you mean by PP total is record? I don't see it.

Kevin said...

6/6 was another PP record, at 144. Westside Bubble seems to repost the previous weeks comments (which always confuses me, too).

Westside Bubble said...

Anon #1, yes, they're counts of curent available inventory, including new listings month-to-date and average days on market since original listing date (not reset for relisting).

I keep the weekly comments through the end of the month. I post as new posts because someone early-on said modifying the same post messed up his RSS feed.

Christinalea said...

Hi. I'm hoping you and some of the gurus (Julie!) can help me with a few questions I have about a condo/townhome property (1342 Stanford St. 90404). While reviewing the assesed values, taxes, etc., I've found that each unit (there are 8) in the complex has has been appraised for vastly different ammounts (two of which- #2 & #3) are $725k, and were sold w/in a few days of each other to separate and unaquainted individuals--seems strange that the appraised value jumps $300k from 2004-2005 while the others had a normal appreciation, were they owned by the same person & put on the market at the same time? Also, one of them (#6) has a market value WAY above the others, but is actually in worse shape than the others. How does that happen? Finally, how is it possible for the land values for each unit to be so different when the difference in the square footage isn't that much?

This is all so confusing! Thanks so much for your help!

Don said...

Christina, you're encountering one of the oddities of post-prop 13 California. To simplify (but not much): Assessed value is based on purchase price and is allowed to go up only 2% each year. So you get wildly differing valuations. It's the land value where there's the most flexibility in assessing, so that tends to be where you see the variation expressed most dramatically.

Anonymous said...

Let's revisit this post from Feb

Anonymous said...
I think PVC has nailed it.


North Santa Monica used to be VERY different from Beverly hills north of Wilshire.

The cars people drove, the clothes they wore, the values they had, all were VERY different than in Beverly hills

PVC points out that the new people moving in to the 90402 today are wealthier than the people who lived there in the past.
That is true. but i strongly dispute that these new people will act like people in Beverly Hills. I think that people with plenty of money to spend CHOOSE 90420 over Beverly Hills specifically cause they like the vibe of 90402

Similarly, they like the vibe of Montana Avenue better than the shopping streets in BH

From a wealth and income standpoint, the people moving in to BH today are the same as the ones moving in to BH but from a lifestyle perspective they are different - they pay homage to the old timers in the 90402 and do *not* drive a rolls, do *not* drive a bentley, do not dress up the way people in BH do. They may plunk down $5 mil for a house but they walk around in casual clothes and lead a casual lifestyle.

The 9002 will be different than BH - people move seeking different things

February 13, 2008 12:58 PM


What is going on with the vibe in SM - is this crash we are in going to help sm preserve its unique vibe and keep sm different from bel air and bh for the long term ?

if so then the crash is a good thing - i love sm the way it is i don't want it to fill up with rolls and ferraris

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