Weekly inventory update

2/13/09 - Pacific Palisades was up, while Santa Monica and Mar Vista were flat. Another north-of-Montana house joined the $1.9 million club: 415 17th, 3 bed / 3 bath, originally listed 12/4/08 for $2,245K, abruptly dropped its price to $1,899K at the beginning of the week (see SM Distress Monitor).

2/6/09 - Pacific Palisades inventory jumped for the week, while Santa Monica and Mar Vista was pretty flat. More price reductions and churn of expired/ withdrawn listings back on the market as others leave. And a couple into escrow.

Not unlike the LA Times, the Santa Monica Daily Press on Friday had its front page "Housing price slide comes to Westside" article (pdf). Gary Limjap, the main real estate agent interviewed - who was pretty realistic, especially saying "Sunset Park being among the hardest hit, seeing its home values drop 25-30 percent in the third quarter 2008 from the same time in 2007" - just happened to have a bottom front page ad. Hmmmm.

      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
10/31/08 47,017  64  22  90 131  55  18 159 126  83  21 103
11/28/08 45,216  64  12  91 141  54   7 151 124  73   9 130
12/31/08 40,810  52   3  80 171  47   5 130 134  63  10 144
-------- ------  --------------  --------------  ----------
 1/30/09 38,486  67  16  94 181  59  15 157 145  66  15 157
 2/ 6/09         67   5  93 159  64   7 164 132  67   4 155
 2/13/09         67   6  93 160  67  10 170 133  68   7 156
 2/20/09