Friday, June 20, 2008

Weekly inventory update

6/20 - SM and MV are flat; PP is down slightly. The big house at 2516 Cloverfield cut its price almost $300K to $1.9M, now down 27% from original listing last July.

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 52,745 63 16 87 142 28 4 132 116 95 16 95
6/27/08

6 comments:

Anonymous said...

Anonymous said...
I like the term "drive by offers"

is this a common term used in sm?


does the latest batch of data still show drive by buyers for land n of montana ?

Anonymous said...

"It's a price of entry thing... 90404 lots are subdivided more radically, and (even as smaller lots) they're more development friendly."

Um, speaking of which:

2511 ARIZONA AVE, Santa Monica, CA 90404... Price per Sq. Ft. of land: $270

3218 ARIZONA AVE, Santa Monica, CA 90404... Price per Sq. Ft. of land: $456

Clearly this is a price of entry sort of thing... but 3218 is so small that you can't get zoning permission to build more than one unit on it... even at the highest valuation of land ever in Santa Monica it should only be about $350,000.

They're not going to get it, but it's going to be interesting to watch. It's possible that a 450 square foot house, set in a 1400 square foot ditch (as far away from the ocean as you can get while still being in Santa Monica, with a view of a parking lot) is going to set the land value record for 90404.

Anonymous said...

Incidentally, the house at the corner of Arizona and Yale has been lowered to 1.5, giving it a land value of $250 per square foot.

Anonymous said...

that sounds about right

land in 90402 is $250 bucks per square foot


$250 times 7500 sq foot lot = 1.9 million for a 7500 sq foot lot

i think that bel air and beverly hills are cheaper on price per sq foot and the beach cities are more expensive on a price per sq foot basis

Anonymous said...

yes - that is correct PARTS of santa monica are more expensive than bev hills and holmby hills

but most of santa monica is cheaper

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