Weekly inventory update

9/26 - Santa Monica was down slightly under $3M but flat overall; Pacific Palisades was up again; Mar Vista dropped back.

Our north of Wilshire indicator 1030 Chelsea is back on the market at $1,299K. Of the new Gillette listings below, 210 21st entered escrow 9/21, while 733 19th dropped its price $146K to $2,449K.

Pacific Palisades features a new REO at 1104 Via de la Paz, now asking $1,499K, previously listed 11/07-5/08 for $2,250K. And 3413 Inglewood in Mar Vista that I just featured was withdrawn today.

9/19 - Santa Monica was up slightly; Pacific Palisades <$2M jumped another 15% to a record 39; Mar Vista jumped 10%.

Sunset Park choices under $1M are expanding: 1213 Oak (2/1.5), $895K; 3027 11th (2/1.85), $899K; 1337 Maple (2/1), $929K; and 2417 Hill (3/2), $949K.

Last week's 1030 Chelsea cut its price $100K to $1,299K while "Looking for Backup". North-of-Montana's 402 19th (below) is now "Looking for Backup", but the others are still available.

9/12 - Santa Monica <$3M is down 3%; Pacific Palisades <$2M jumped up 21%; Mar Vista dropped 8%.

North-of-Wilshire indicator 1030 Chelsea went into escrow, but it took nearly 6 weeks. Its $1,399K price was below recent comps last year at 1020 Chelsea, sold 8/24/07 for $1,478K, and 1024 23rd, sold 8/8/07 for $1,445K. With the wait to sell probably went below asking.

Added: North of Wilshire sales history, 2004-6.

Another interesting new north of Montana listing is the 5 bed/5 bath house at 751 24th Street, asking a low $2,350K.

9/5 - New and returned listings over $2M raised Santa Monica inventory. Pacific Palisades <$2M is down 1, but up 2 in total. Mar Vista is flat.

New sales established lower Sunset Park prices: 2640 24th (2/2) closed for $875K. In escrow after more than a month at $995K is 1645 Ashland (2/1). And 1215 Ashland (3/1) closed for $1,250K, 6% below last asking of $1,325K.

Last year's 1101 Cedar (photo) is back on the market at $1,375K. Last sold 12/16/05 for $1,169K, it was listed 4/11/07 for $1,580K, and left the market in 11/07 at $1,399K, no newer sale recorded.

Three new low-end 60-foot-lot Gillette houses were listed: 2/2 at 534 19th for $2,250K, 2/2 at 402 19th for $2,325K, and 3/1.75 at 416 21st Place for $2,375K. And the 2/3 60'-lot house at 210 21st reduced its price again, now to $2,259K.

      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
 8/29/08 50,124  62   9  79 122  29   5 108 156  91  25 104
 9/ 5/08         63   4  83 126  28   0 110 156  91   5 102
 9/12/08         61   8  81 119  34   5 115 144  84   6 116
 9/19/08         62  11  83 131  39  12 123 121  92  17 108
 9/26/08         60  12  83 146  40  15 126 132  86  22 115
10/ 3/08