This is a new series of charts, to compare Days-on-Market (DOM) over months and years. January 2009 is a record for Januaries and nearly the highest for any month. This shows the growing glut of stale inventory, that in many cases is cutting prices to finally sell. (Note that I count DOM from the first listing of a property, across delistings and relistings.)
Added note: These increasing averages mask the reality that well-priced desirable houses still sell quickly, while the rest mostly sit unsold. It would be a mistake to conclude that all listings sell, just wait patiently because it takes longer now.
Saturday, January 31, 2009
Days-on-Market charts
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2 comments:
In the LA Times business section today.
Lists Santa Monica and two other cities in L.A. as having HIGHER avg.(or maybe median) SALES PRICES in 2008 than in 2007....
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Where was that in the Business section?
Using the DataQuick median prices by zip code - as reported in the Times - both 90402 and 90405 fell from 2007 to 2008 (posted here).
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