A year ago (8/8/07) I posted a snapshot of condo inventory. I haven't maintained a regular condo inventory, but now have two years of summer data points.
So both SFR and condo inventories are higher than 2007 but lower than 2006. (This was a case of browsing my archives for something else and finding a timely item to update.)
Date 7/30/06 9/15/06 8/04/07 8/12/08
All SM 184 188 166 170
2+ bedrooms 128 138 121 137
All 90403* 52 63 48 49
Houses <$3M 71 75 53 67
Condo mult. 2.6 2.5 3.1 2.5
(*between Wilshire & Montana)
7 comments:
So condo inventory is down year over year? What gives?
Um, up year over year, dude. Unless you don't count last year.
Inventory is an irrelevant data point unless it is coupled with sales pace. So, this blog entry is useless without it. While I enjoy this blog tremendously, it definitely doesn't past muster when it comes to providing useful data points.
By the way, 16463 Akron countered a bid that was already well above asking price last night. They got multiple offers over asking. I'm not suprised given it's 50% price chop heading into the short sale. It sure stirred up activity at that level. That price was too low to be ignored for that neighborhood. Then again, the rest of the market is probably tanking down that far eventually, so maybe someone just gets a bottom market price a few years early. Or maybe not. The market could fall farther than that. Palisades is messed up right now.
"Um, up year over year, dude. Unless you don't count last year."
It looks like down to me too. What do you mean up?
Thanks about 16463 Akron.
From original post:
"So both SFR and condo inventories are higher than 2007 but lower than 2006. (This was a case of browsing my archives for something else and finding a timely item to update.)"
Post a Comment