Saturday, January 31, 2009

Days-on-Market charts

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.


Anonymous said...

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....


Westside Bubble said...

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).