Saturday, October 25, 2008

Weekly inventory update

10/24 - SM <$3M is down slightly, but up overall; PP is up sharply; MV is down a hair. Here's activity in indicator houses.

Two south of Washington we've been following are now in escrow; wonder at what price?
1030 Chelsea, 3 bed / 1.75 bath, LP=$1,299K (-7% from OLP), LD=7/31/08
2312 California, 2/2, $1,395K (-7%), 9/29/08

Two in Sunset Park closed:
1645 Ashland (photo above), 2/1, $995K, 7/28/08, SD=10/23, SP=$975K (-2% from LP)
2424 Cloverfield, 3/2, $1,099K (-12%), 3/21/08, 10/9/08, $1,055K (-4%)

While three others were withdrawn:
3027 11th, 2/1.75, $799K (-15%), 8/7/08
2114 Ashland, 2/1, $1,079K (-20%), 5/19/08
1732 Bryn Mawr, 4/3, $1,349K (-10%), 6/5/08

10/17 - SM, PP, and MV inventory are all up for the week. A few escrows failed this week in Mar Vista, going back on the market. Tough to get financing?

Yes, there seems more drama in the financial markets and election this week than in Westside real estate. Watch for DataQuick next week.

10/10 - Not a lot of change in inventory this week. SM <$3M and PP <$2M are a little up (the latter at record levels); MV is slightly down. Some previously withdrawn / expired listings are back (not counted here in "New").

      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
10/ 3/08 48,113 58 14 82 145 41 15 128 132 84 24 109
10/10/08 62 7 83 144 42 2 126 137 83 9 107
10/17/08 66 12 87 139 44 5 134 144 86 13 101
10/24/08 64 17 89 140 49 12 140 134 85 16 105
10/31/08

9 comments:

Anonymous said...

Zillow says that the value of my 90405 bungalow is up more than 10% in just the past month! What housing crash, Dudes? Party on!

Anonymous said...

Right on! Power to the owners!

Anonymous said...

I read Zillow and then I go overbid on a house. And then I hit my crack pipe.

Anonymous said...

zillow = GOD!
zestimates = word of GOD!

only the all knowing one can tell you what your home value is, and now thanks to zillow, you know it. All investors and banks and mortgage brokers use zillow religiously.

tbgpalisades said...

Was talking to friends this weekend. They're giving up - planning to move to Virginia (where they have family). After years they are finally into good income, but they don't see housing ever returning to affordability. Currently, living in a "hovel" and are fed up with it.

Anonymous said...

so what....if enough people move back to Virginia, maybe I wouldn't have to listen to the whining!

Anonymous said...

'I can't afford a house in California....boo hoo'

Anonymous said...

"so what....if enough people move back to Virginia, maybe I wouldn't have to listen to the whining!"

Yes, but your house would be worth less wouldn't it?

"'I can't afford a house in California....boo hoo'"

I think you misunderstood us. What we are saying is "That piece of %$*# costs what?"

Anonymous said...

In a non-Westside neighborhood I have been monitoring, Zillow prices have been crashing at about 2% per week all summer long.

I know Zillow prices are not necessarily accurate, but it was fun to watch.

Now in October, in the face of layoffs, worst stock market since 1932 etc., the Zillow prices have jumped up about 10%, just like original commenter's bungalow.

I figure Zillow's tweaking their algorithm. I think we can say the price change is not driven by the data.