Monday, August 18, 2008

July DataQuick

More of the same in today's July DataQuick numbers. Median prices are now -27.3% for Los Angeles County from its last-August peak. Volumes are up again for the month, but still below July 2007 (-3.2% for LA County). (June DataQuick post)

This puts Los Angeles County prices back to mid-2004, Orange County back to late 2003, Ventura County back to the end of 2003, and San Diego back to spring 2003.


Anonymous said...

That's great if you're buying the median home. In south LA near Inglewood. Meanwhile, 90402 is immune.

Anonymous said...

Until that 80% drop hits in 2011.

Anonymous said...

My rental in San Diego was purchased in Fall 2002. In another month I'll be under water in valuation. Oh well. Damn you, San Diego. I mean, whale vagina. At least I have a tenant.

Anonymous said...

This blog is dead.

WarChestSM said...

Just like the market.

It is a depressing waiting game now.

Anonymous said...

It's only depressing if you're waiting.

Anonymous said...

This blog is dead because most of the people here define "Westside" as 90402.

Who cares. It seems to be true that wealthy people are incredible bores.

Anonymous said...


Anonymous said...

North of Montana is interesting - very interesting since it is the only neighborhood in Santa Monica where the future is unclear -

other neighborhoods in SM have already seen major plunges in land value - teardown value

90402 is still hanging on still selling land for 2.0

so it is interesting due to the battle going on there

in rest of sm the sellers have already become demoralized and thrown in the towel

Anonymous said...

"other neighborhoods in SM have already seen major plunges in land value - teardown value"

Only the condos in these other neighborhoods in SM. No houses. You can't find short sales in Santa Monca for actual SFRs anywhere, not even in Sunset Park. Empty lots are still $1.5 in 90403 for example.

So your point about 90402 is only good insofar as 90402 has no condos, but otherwise houses in the whole city have not budged in price. There seems to be a limitless supply of willing buyers at bubble prices--I don't understand it, I don't know why do it, but they're there.

Anonymous said...

Great...if I don't want a condo or to live under the freeway....where are the hot deals in Santa Monica????

WarChestSM said...

"Empty lots are still $1.5 in 90403 for example."

Before spouting off incorrect data, take a look at what is really going on.

See my latest post.

Anonymous said...

like they say - the truth is out there


teardowns in 90402 are rock solid - absolutely bulletproof at 2.0 million . Nothing to be had in a standard lot on non busy street for under 2.0 NOTHING

i dont defend this and i dont say it is rational i just say it is what it is

now when it comes to every single other zip code in SM there is some softness on the SFR teardowns

not collapse but softness

so i contrast rock hard in the 90402 vs soft in the rest of SM

there it is - may be stupid silly crazy but there is the truth

there is a difference so far in the 90402 vs rest of sm

Anonymous said...

Pac Pal price per square foot in july is down to $750. Its been a VERY long time since we saw that.