Friday, November 14, 2008

SM listings, sales, withdrawn / expired

Looky-loo Mike's comment inspired me to post the other half of these graphs for October. Inventory grows from new listings, and shrinks from sales and listings withdrawn / expired. Here are those for Santa Monica, divided into <$3M and >$3M. Observations:

* Both new listings and sales <$3M were unusually low some months this year;
* Withdrawn and Expired listings exceeded Sold listings in October.


Anonymous said...

right i agree.

the key thing is that the sellers of the teardowns in the 90402 insist on 2.0 million plus and the buyers often refuse to pay 2.0 million plus.

rather than throw in the towel the sellers have been yanking the tear downs from the market

no one knows how this will play out but the buyers and the sellers just don't meet

SOME sellers capitulate and sell under 2.0 and some buyers capitulate and buy over 2.0 but mostly it is a standoff

Dan said...

These graphs are really interesting--much more so than inventory alone.

Anonymous said...

For those of us with a few young kids, is it really fair to our kids to raise them in Santa Monica instead of in a place like Calabasas?

Look at it this way - if i raise my kids in Santa Monica, they will grow up with the expectation of being able to buy their own homes in Santa Monica and raise their own families in Santa Monica in the future.

Unless my kids are very successful financially they will never be able to afford a house in Santa Monica. They will wind up frustrated.

If i instead raise my kids in Calabasas, they will grow up with the expectation of buying a house in Calabasas when they are ready to have kids. Apples to apples, a very large percentage of people can afford Calabasas houses and thus my kids are likely to be able to afford a house and thus not be disappointed

so overall, i guess i am setting my kids up for possible disappointment and despair by raising them in Santa Monica instead of raising them in Calabasas.

I am not trying to provoke the bulls or the bears here - the above comments have nothing to do with whether you think SM houses will come down or go up - it has to do with the price of houses in SM 25 years from now.

Westside Bubble said...

Or maybe if your kids grow up in Santa Monica they'll feel "been there, done that" and want to live someplace different?

My impression is it's great being by the beach as a kid, but otherwise Santa Monica is kinda boring.

There's the benefit of a good peer group both places, where of course kids expect to go to good colleges.

Anonymous said...

huh? Santa Monica is kind of boring? Someone has taken a Smug Pill. If you look at the rest of the world , Santa Monica is one of the epicenters of fun. That is why the demand to live there is so high.

I thought I was jaded but Santa Monica being boring topped everything.

Anonymous said...

"Santa Monica is one of the epicenters of fun."

Hahaha. I guess you haven't seen that much of the world. Or even traveled to, say, San Francisco. Then you'd know what fun really means- especially for singles. Santa Monica is a nice beach and a lot of expensive housing, and that's about that. Cultural attractions, a high density of good restaurants, art, theater, music? You'll have to look somewhere else.

Anonymous said...

Or even traveled to, say, San Francisco.

Ummmm. Lived in San Francisco for many years... Also have traveled the world...

You loose mr broke..

Anonymous said...

It's also very funny how I called you smug and you mentioned San Francisco...

Too Classic.. You are Smug!! "San Francisco is a more European city, like Milan or Paris"..

Not to say I wouldn't live in SF again but Santa Monica is the "Epicenter of fun"!

You are lost.

Anonymous said...

"Not to say I wouldn't live in SF again but Santa Monica is the "Epicenter of fun"!"

Well, ok, if you're enjoying yourself, all the more power to you. After all, it's simply a matter of taste. Smug or not, it's not that you really explained *why* SM is preferable to SF.

Anonymous said...

Santa Monica is sooooooo not boring if you have kids...there are literally 100's of things to do with them, from seasonal outdoor ice skating, to skateparks, to riding bikes on the boardwalk, to puppet shows and farmer's markets and art galleries to SMC's aquatic center....and of course the world famous beach where they can surf, boogie board or swim....all these things don't cost much at all.