Monthly inventory update

8/29 - Santa Monica and Mar Vista inventory are down for the week and month. Pacific Palisades is flat for the week, but down for the week. Westside total is also down for the month.

I'm struck how many listings are Expired or Withdrawn, while there were few new listings in SM and PP. Are sellers holding out for market improvement?

Although the previously-withdrawn 750 Navy "greenstucco" is back on the market, reduced to $1,699K from $1,900K.

The questionable REO at 3121 Urban in SM closed 8/15 for $699K; previous sale was $1,390K on 9/26/06. Also next to the I-10 freeway, 2901 Kansas (below) is in escrow.

An indicator for a 50-foot low-end lot north of Montana, west of 7th, 234 Alta, closed 8/7 for $2,675K.

An indicator for the low-end "Alphabet Streets" in Pacific Palisades, 946 Hartzell St., 3 bed/1 bath, closed for $1,025K (reduced from $1,300K original and $1,250 final listing). And 14852 Sunset dropped 16% from $1,850K to $1,550K in one cut.

8/22 - SM and MV are down slightly for the week; PP is flat. Very few new listings in SM and PP.

I omitted last week, 1621 Ashland is back into escrow.

8/15 - All are slightly down for the week, in part from what seems like a lot of newly-expired and withdrawn listings.

2901 Kansas is back (the former listing expired), now discounted from $649K to $499K.
2114 Ashland was reduced again, now to $1,079K, 20% off.

8/8 - My apologies, so much to do, so little time to post, and it will continue for the next week or two.

Santa Monica inventory is back up, but Pacific Palisades is down. Mar Vista continues up, now at a record 103 for 2007-8.

Low-end north of Montana data point 517 Euclid finally closed for $2,079K. This is a loss from its 6/7/07 purchase for $2,250K, and overall a flat indicator for my index.

And 1621 Ashland is back on the market, fallen out of escrow.

      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
 6/27/08 53,058  74  28  98 131  30   6 129 107  96  26  95
 8/ 2/08 51,906  66  14  89 125  34   8 120 136  99  35 101
 8/ 8/08         69   6  91 119  30   2 108 130 103  12 103
 8/15/08         66   7  86 109  28   3 108 125 102  17 102
 8/22/08 50,781  64   8  84 117  28   4 108 129 101  24 104
 8/29/08         62   9  79 122  29   4 108 156  91  25 104
 9/ 5/08 
 

All Westside

             2/1    3/28    5/30     8/1 
                2/29     5/2    6/27    8/29 
Bel Air-H.Hls.85  82  95 100 108 110 115 113
Bev.Ctr.-M.M. 71  67  75  79  80  78  80  72
Beverly Hills 65  64  66  78  84  79  90  90
B.H. P.O.     78  80  92  95 101 113 118 121
B'wood Vic.   50  56  53  57  67  58  53  59
Brentwood     77  86  96 104 108 116 115 109
Chev.-R.Pk.'8'21  19  20  24  25  31  34  33
Culver City   42  48  50  57  59  58  49  58
Malibu       185 200 213 242 261 266 265 258
Malibu Beach  38  49  57  60  50  49  59  61
Marina Del Rey26  36  25  25  26  27  32  33
Pac.Palisades101 108 122 136 142 129 120 108
Palms-M.Vista 89  88  82  90  92  96  99  91
Playa Del Rey 22  19  15  15  23  24  28  29
Playa Vista    5   4   6   5   5   9   9   7
Santa Monica  67  68  81  84  79  98  89  79
Sunset-Hwd.H.189 185 215 240 241 273 278 256
Topanga       49  44  63  69  66  62  60  61
Venice        72  72  74  83  85  77  89  79
W.H'wood Vic. 48  51  48  43  46  46  55  62
West L.A.     20  18  25  25  25  26  33  27
Westchester   72  54  79  86  91  88  82  76
W'wood-C.City 37  36  42  49  53  61  67  60
             ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ 
2008 Total  1509    1694    1917    2019
                1524    1846    1974    1942
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.