Sunday, November 2, 2008

Monthly inventory update

10/31 - Inventory is growing the most in some of the high-priced areas. The Westside total is up 3.9% (+79) for the month, and 20% from October 2007, mainly from jumps in Pacific Palisades (+29), Brentwood (+16), and Venice (+13).

Total Santa Monica is up 10% for the month and 11% from October 2007. Total Pacific Palisades is up a huge 24% for the month and 50% from October 2007. Palms-Mar Vista is down a slight 1% for the month, and 15% from October 2007.

Within Pacific Palisades the under-$2M inventory grew more (34% m-m, 90% y-y), while it was over-$3M in Santa Monica that grew more (18% m-m, 34% y-y). And upper-end Mar Vista Hill is pretty stuck.

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, 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While three others were withdrawn: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 Some previously withdrawn / expired listings are back (not counted here in "New").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 47,017 64 22 90 131 55 18 159 126 83 21 103
11/ 7/08
All Westside

             2/1    3/28    5/30     8/1    10/3
2/29 5/2 6/27 8/29 10/31

Bel Air-H.Hls.85 82 95 100 108 110 115 113 115 113
Bev.Ctr.-M.M. 71 67 75 79 80 78 80 72 62 67
Beverly Hills 65 64 66 78 84 79 90 90 94 98
B.H. P.O. 78 80 92 95 101 113 118 121 125 123
B'wood Vic. 50 56 53 57 67 58 53 59 55 55
Brentwood 77 86 96 104 108 116 115 109 124 140
Chev.-R.Pk.'8'21 19 20 24 25 31 34 33 38 40
Culver City 42 48 50 57 59 58 49 58 61 63
Malibu 185 200 213 242 261 266 265 258 240 244
Malibu Beach 38 49 57 60 50 49 59 61 59 52
Marina Del Rey26 36 25 25 26 27 32 33 33 35
Pac.Palisades101 108 122 136 142 129 120 108 128 159
Palms-M.Vista 89 88 82 90 92 96 99 91 84 83
Playa Del Rey 22 19 15 15 23 24 28 29 26 25
Playa Vista 5 4 6 5 5 9 9 7 7 8
Santa Monica 67 68 81 84 79 98 89 79 82 90
Sunset-Hwd.H.189 185 215 240 241 273 278 256 292 291
Topanga 49 44 63 69 66 62 60 61 62 69
Venice 72 72 74 83 85 77 89 79 83 96
W.H'wood Vic. 48 51 48 43 46 46 55 62 64 61
West L.A. 20 18 25 25 25 26 33 27 29 25
Westchester 72 54 79 86 91 88 82 76 78 77
W'wood-C.City 37 36 42 49 53 61 67 60 65 71
___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
2008 Total 1509 1694 1917 2019 2006
1524 1846 1974 1942 2085
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.

1 comment:

Anonymous said...

Avant le "reset", le deluge.