Tuesday, July 28, 2009

May S&P/Case-Shiller

The news with today's May 2009 S&P/Case-Shiller update is that some cities, and Los Angeles' High Tier, have risen slightly. But see Calculated Risk's comments about seasonality - we know that prices rise most in the second quarter of the year - before calling a turnaround.

Overall Los Angeles (including Orange County) is still down again, 41.9% from its September 2006 peak, back to July 2003 levels.

By month that's 0.1% from April, 0.9% from March, 1.4% from February, 2.0% from January, 2.8% from December, 2.5% from November, 2.2% from October, 2.6% from September, 2.5% from August, 1.8% from July, 1.6% from June, 1.4% from May, 1.9% from April, 2.2% from March, 3.6% from February, 4.3% from January, 3.7% from December 2007, 3.6% from November, 3.6% from October, 2.1% from September and 1.3% from August. The national (orange line, their original 10-city Composite) index is down 33.3% from its peak in June 2006.

Besides the original city index they have each city broken into Low, Middle, and High tiers (Under $277,621, $277,621 - $433,758, and Over $433,758; updated for May). Los Angeles' Low Tier rose the most and has fallen back the most so far from its November 2006 peak, now 55.8%.

The High Tier rose the least and plateaued for awhile before falling more steeply, now 30.8% from its June 2006 peak. As noted above, it was up 0.6% from April, a return to its March 2009 level (and January 2004). This is consistent locally with the flurry of sales in Mar Vista but continued frozen market for higher-priced houses.

Monday, July 27, 2009

Weekly inventory update

7/24/09 - Santa Monica and Pacific Palisades were pretty flat; Mar Vista dropped from a number of new escrows on recent listings. July month-end comes next weekend.

7/17/09 - Santa Monica is down, Pacific Palisades is flat, and Mar Vista is up for the week. Guess the flurry of buying in MV is over.

7/10/09 - All are up for the week, especially Palms-Mar Vista.

      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
2/27/09 37,647 73 14 98 164 73 17 181 148 75 19 131
4/ 3/09 84 25 108 155 73 11 187 150 74 24 128
5/ 1/09 89 23 115 163 72 11 188 155 73 22 127
5/29/09 80 15 107 175 67 14 176 142 70 28 117
7/ 3/09 85 21 110 142 63 16 167 164 75 19 157
7/10/09 87 8 113 160 65 3 166 167 81 9 147
7/17/09 82 12 105 158 65 5 168 173 87 15 128
7/24/09 83 17 105 165 63 7 168 180 75 18 142
7/31/09

Friday, July 24, 2009

"Borderline" Ocean Park

Here are some interesting current samples from what's called the Borderline Neighborhood of Ocean Park, the southern edge next to Venice, west of Lincoln Blvd.

First is 606 Marine St. (photo above, click to enlarge), a 2 bedroom / 1 bath 686 SF house (built in 1912) on a 3,197 SF lot, listed 6/2/09 for $699K.

"REDUCED! Owner is motivated...make your offer! Totally vacant new owner can set the rental price for this 1 bed/1bath DUPLEX on great Santa Monica area; walk to the beach, to the Main St. Farmer's Market, the shops. Bungalows need work or just build your dream home!"

Its next-door neighbor on the right (the pink one), 604 Marine St., 1 bed / 1 bath, 588 SF on 3,192 SF lot, was listed from 2/11/09 to 7/9/09 for $799K before being withdrawn.

"Cozy cottage in great location with Santa Monica schools. Needs cosmetic work. Guest house in back. Does not show well do to several people living on the property. Lowest price in Santa Moncia west of Lincoln. No brokers opens and showings by appt.only with 24 hours notice. Property will be delivered vacant. Great buy!!!!"

Guess not!!!! Did the newer listing get its price right at $100K less, for a bedroom and 100 SF more, and apparently in better condition?

Next is 740 Navy St., a 2 bed / 1 bath 1,264 SF house (originally built in 1920) on one-and-a-half 25 x 80 foot lots (2,997 SF), listed 6/22/09 for $688K and quickly in escrow on 7/9/09.

"Charming, very livable 1920's beach cottage. Same owner for 60+ yrs. Bathroom remodeled with corian counter tops and has separate tub and shower. Kitchen also redone about 20yrs ago. Owner added family room with river rock fireplace. A true diamond in the rough! Trust sale that does not require court approval. This is the quintessential condo alternative!"

Finally is 809 Ozone St. a 3 bed / 2.5 bath 2,161 SF house (built in 1991) on a 2,666 SF lot, listed 7/8/09 for $1,370K. That seems pretty steep for the second house from the car lot on the corner of Lincoln Blvd.

"Stunning Architectural 2-sty 1991 home close to beach; Arte Deco, Feng Shui, Style, Light & Space. LR: HI ceiling, glass block wndw, slate FP & hwd flrs. 1st flr FDR w/crystal chandelier, den, ofc, & lndry w/wash/dryer. Huge kit w/bkfst bar, indoor gas BBQ & French drs to landscaped patio, fountain. Lg Mstr Ste has private sundeck, walk-in closet. Mstr BA; raised sunken tub & lg shower. 2 BDs up share full BA. Home double insulated; close door & escape; serene. Lg 1 car gar + permit parking."

Monday, July 20, 2009

Weekly inventory update

7/17/09 - Santa Monica is down, Pacific Palisades is flat, and Mar Vista is up for the week. Guess the flurry of buying in MV is over.

7/10/09 - All are up for the week, especially Palms-Mar Vista.

      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
2/27/09 37,647 73 14 98 164 73 17 181 148 75 19 131
4/ 3/09 84 25 108 155 73 11 187 150 74 24 128
5/ 1/09 89 23 115 163 72 11 188 155 73 22 127
5/29/09 80 15 107 175 67 14 176 142 70 28 117
7/ 3/09 85 21 110 142 63 16 167 164 75 19 157
7/10/09 87 8 113 160 65 3 166 167 81 9 147
7/17/09 82 12 105 158 65 5 168 173 87 15 128
7/24/09

Thursday, July 16, 2009

June DataQuick

After five flat months DataQuick's Los Angeles County median price ticked up for June. Which as we know has little relationship with Westside prices beginning to fall, and as Calculated Risk wrote, "Note: Ignore the median home price during periods of rapidly changing mix."

Median prices are down 41.8% for Los Angeles County from its peak in August 2007. Volumes were up 34% year-to-year from June 2008. (
May DataQuick
post)

I wonder if this is indicative of the recent but now subsided flurry of lower-priced sales in Mar Vista and the typical peak of sales and price jumps in the second quarter of the year, not a longer trend.

This leaves Los Angeles County prices at May 2003. For the other three counties, Orange County is at June 2003, Ventura County at April 2003, and San Diego at May 2002.

Monday, July 13, 2009

Weekly inventory update

7/10/09 - All are up for the week, especially Palms-Mar Vista.

      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
2/27/09 37,647 73 14 98 164 73 17 181 148 75 19 131
4/ 3/09 84 25 108 155 73 11 187 150 74 24 128
5/ 1/09 89 23 115 163 72 11 188 155 73 22 127
5/29/09 80 15 107 175 67 14 176 142 70 28 117
7/ 3/09 85 21 110 142 63 16 167 164 75 19 157
7/10/09 87 8 113 160 65 3 166 167 81 9 147
7/17/09

Tuesday, July 7, 2009

1H SM and PP sales update

To wrap up the first half of 2009, here are sales closed in Santa Monica and Pacific Palisades since our May 6 update. Listing dates before 2009 and reductions over 10% are in red.

Santa Monica Distress Monitor has been doing a great job featuring individual listings. I've tried to link those, plus a couple featured here.

Address, bed/bath, current price (-% from orig.), orig.list date, sale date, sale price (-% from last list price)

Sunset Park 90405 (south of Pico, east of Lincoln)

1128 Marine, 2/1, $659K (-9%), 3/7/09, 5/21/09, $675K (+2%)
1736 Oak, 3/2, $990K (-7%), 7/31/08, 6/12/09, $885K (-11%)

2103 Hill, 3/2, $1,050K (-4%), 3/18/09, 7/1/09, $1,000K (-5%)
2450 Euclid, 4/3, $1,048K (-24%), 9/26/08, 5/12/09, $1,068K (+2%)
2328 30th, 3/2.75, $1,099K, 5/11/09, 6/26/09, $1,087K (-1%)
2424 31st, 3/2, $1,099K (-10%), 11/24/08, 6/23/09, $1,050K (-4%)
1421 Grant, 4/2.75, $1,299K, 3/11/09, 5/15/09, $1,225K (-6%)
2659 33rd, 3/3, $1,395K (-10%), 2/27/09, 6/30/09, $1,350K (-3%)
2625 29th, 4/3, $1,595K, 4/20/09, 6/9/09, $1,500K (-6%)
1214 Pearl, 4/4.5, $1,785K (-16%), 10/8/08, 7/1/09, $1,700K (-5%)
1651 Ashland, 3/3, $2,150K, 3/5/09, 6/29/09, $1,875K (-13%)

Ocean Park 90405 (south of Pico, west of Lincoln)

629 Pico Place, 2/3, $1,250K (-47%), 7/25/08, 5/19/09, $1,250K

Santa Monica 90404 (Pico-Wilshire)

2209 Arizona, 2/1, $650K, 2/27/09, 6/19/09, $660K (+2%)

Santa Monica 90403 (Wilshire-Montana)

1701 California, 3/2, $1,085K, 3/22/09, 5/15/09, $1,085K
1024 Princeton, 2/1.5, $1,385K (-13%), 6/27/08, 7/2/09, $1,250K (-10%)
1126 Harvard, 3/1.75, $1,495K (-9%), 1/26/09, 6/3/09, $1,410K (-6%)
1038 Franklin, 5/3.5, $2,139K (-26%), 5/29/08, 6/9/09, $2,000K (-6%)

858 25th, 4/3, $2,250K, 4/17/09, 5/28/09, $2,150K (-4%)
1024 23rd, 4/4.5, $2,595K (-10%), 10/8/08, 5/22/09, $2,425K (-7%)

Santa Monica 90402 (north of Montana)

720 17th, 1/1, $1,399K (-22%), 3/5/09, 6/26/09, $1,400K
320 9th (photo), 3/2, $1,699K (-19%), 11/12/08, 5/20/09, $1,600K (-6%)
415 17th, 3/3, $1,799K (-20%), 12/4/08, 6/15/09, $1,600K (-11%)
716 18th, 3/2, $1,875K, 3/4/09, 5/29/09, $1,780K (-5%)

403 22nd, 3/2.5, $2,100K (-12%), 2/3/09, 5/15/09, $2,050K (-2%)
449 Euclid, 3/2.5, $2,295K, 3/13/09, 6/9/09, $2,000K (-13%)
423 9th, 3/2.5, $2,599K, 3/11/09, 6/5/09, $2,560K (-2%)

734 22nd, 5/4.5, $3,678K (-14%), 3/21/08, 5/28/09, $3,400K (-8%)
327 Alta, 5/3.5, $3,995K, 12/1/08, 5/13/09, $3,600K (-10%)
402 20th, 5/5.5, $4,288K (-22%), 10/30/08, 5/20/09, $4,000K (-7%)

Pacific Palisades 90272 <$2M

16751 W Sunset, 3/2, $850K (-29%), 8/3/08, 5/28/09, $650K (-24%)
16723 W Sunset, 4/3, $900K (-10%), 10/28/08, 5/14/09, $814K (-10%)

1423 Avenida de Cortez, 4/2.5, $1,295K (-9%), 3/11/09, 6/18/09, $1,216K (-6%)
16463 Akron, 3/2, $1,299K (-59%), 7/11/07, 6/15/09, $1,203K (-7%)
16910 Marquez, 4/2.5, $1,399K (-20%), 10/15/08, 5/6/09, $1,200K (-14%)
1061 Tellem, 4/3, $1,600K (-8%), 4/29/09, 7/2/09, $1,370K (-14%)

16632 Calle Haleigh, 4/4.5, $1,675K, 2/24/09, 5/15/09, $1,600K (-4%)
512 Beirut, 4/3.5, $1,695K, 1/20/09, 6/25/09, $1,645K (-3%)
544 Paseo Miramar, 3/2.5, $1,695K (-13%), 3/3/08, 5/13/09, $1,460K (-14%)
542 Chapala, 2/1.5, $1,895K, 4/2/09, 6/16/09, $1,860K (-2%)
16672 Calle Arbolada, 5/4, $1,910K, 3/5/09, 5/15/09, $1,900K (-1%)
16006 Temecula, 4/3, $1,995K (-9%), 10/18/08, 6/23/09, $1,700K (-15%)
1043 Fiske, 4/3, $1,995K (-19%), 10/13/08, 5/21/09, $1,865K (-7%)

Saturday, July 4, 2009

ABC News on Santa Monica collapsing prices

ABC News / Forbes.com highlighted Santa Monica (Thanks, Anon 7/4!) in their article today. It begins,

America's Most Troubled Luxury Neighborhoods
The Collapse in Prices Has Finally Come Home to the Rich

Has the housing market scraped bottom? Not in some of the wealthier neighborhoods -- places like New York City's Greenwich Village, Santa Monica, Calif. and Chicago's Lincoln Park. They held up nicely while the rest of the country slumped last year. This year such Tiffany zip codes are on track to fall 15 percent to 25 percent.

Why haven't you heard about this? Statistics lag. With relatively low unemployment, high-end addresses don't have foreclosures to hasten capitulation. ...

There is a still-growing supply of wildly overpriced, unsold homes--60,000 U.S. properties priced above $2 million listed on Realtor.com. Experts get these gloomy vibes by dividing inventory by the current monthly rate of purchases.

"Any result over seven months generally means falling prices," says David Stiff, chief economist at Fiserv in Brookfield, Wis. In some tony neighborhoods the level of glut is higher than the national average of ten months.

Let's see: 110 house listings in Santa Monica, divided by average monthly sales of 8-12 (depending on whether we average the last 3, 6 or 12 months) = 9-14 months supply. And we've already seen around a 25% low-end north of Montana price fall.

ABC's section about Santa Monica cites,

In Santa Monica's coveted "north of Montana" area overlooking the Pacific, listings are up 60% since last year and the number of days on the market for those listings has doubled to 140. Homes once sold in as little as a week here. Closer to Main Street, Bill H. Meyers has struggled for more than a year to sell his condo.

In April 2008 L.A. was hurting, but Santa Monica values hovered around their peaks. So Meyers tried to unload his property for $850,000, roughly in line with what another unit in his building sold for. He turned down bids near $800,000 after he found a renter at $3,500 a month.

Now that his tenant is gone, Meyers hasn't found a replacement at that price, and getting another $800,000 bid is impossible. The data still say Santa Monica is stronger than other nearby markets. It's just 14 percent off peak prices, versus Los Angeles, down 38%. But the beach city's inventory of unsold homes has just crossed the 15-month level, as high as Los Angeles' were last year. By that grim logic, Santa Monica's values are likely to tumble as far as those in Los Angeles did last year, 27 percent.

Like Meyers, anyone who can afford to will hang on as long as possible, banking on the faith, he says, that "the market is going to come back." Meantime, excess supply is piling up.

Our graphs have been telling the same story.

New, Sold, and Withdrawn/Expired listings

You know the "bathtub" model - water level (inventory) in the bathtub depends on the water tap (new listings) and the drain (sales and withdrawn/expired listings). Listings and sales are generally down, while inventories and withdrawn/expired listings are at high levels.

Nothing over $3M closed in Santa Monica in June. Mar Vista's buying frenzy of the last couple of months has largely finished escrow, resulting in the June spike (third chart from the bottom), and I'm not seeing nearly as many new escrows now.

This and the falling prices we've been noting were the best that could be done even in the optimistic "green shoots" second quarter of 2009. Look out below as economic reality reasserts ahead!









Westside inventory charts

At the end of the first half of 2009 most inventories remain at high levels, although some are off a peak earlier in the spring.





Monthly inventory update

7/3/09 - Santa Monica and Mar Vista inventory were again up slightly for the week - and month - while Pacific Palisades was down for both.

6/26/09 - Santa Monica and Mar Vista inventory were up slightly for the week, while Pacific Palisades was down. I'll do month-end plus end of 1H 2009 updates (charts and latest sales) next weekend.

6/19/09 - SM inventory is flat overall; PP is down slightly; MV has rebounded up for the week.

6/12/09 - SM and PP inventories are up a little. Conversely it's almost a buying mania in lower-priced Mar Vista listings. I'll do a sales update for all three after the end of June.

6/5/09 - All are up for the week except Santa Monica over $3M, down, and it seems a lot of new price reductions.

      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
2/27/09 37,647 73 14 98 164 73 17 181 148 75 19 131
4/ 3/09 84 25 108 155 73 11 187 150 74 24 128
5/ 1/09 89 23 115 163 72 11 188 155 73 22 127
5/29/09 80 15 107 175 67 14 176 142 70 28 117
6/ 5/09 82 4 106 170 74 8 184 139 74 5 122
6/12/09 84 10 107 169 75 9 185 146 69 10 133
6/19/09 82 13 107 165 71 12 183 139 73 15 144
6/26/09 84 19 109 162 65 16 172 148 74 17 151
7/ 3/09 85 21 110 142 63 16 167 164 75 19 157
7/10/09
All Westside

            1/30     4/3    5/29    7/31    10/2   11/27
2/27 5/1 7/3 8/28 10/30 12/31

B.Air-H.Hls. 101 106 120 137 147 152
Bv.Ctr.-M.M. 58 65 78 83 72 58
Beverly Hls. 109 123 134 114 107 120
B.H. P.O. 127 147 162 153 152 159
Bvywd.Vic. 47 54 62 60 48 42
Brentwood 146 162 157 167 155 155
Chv.-R.Pk.'8' 31 38 33 39 31 31
Culver City 52 44 36 33 34 41
Malibu 254 267 288 290 281 280
Malibu Beach 63 70 70 70 69 65
Marina D.Rey 32 32 28 34 34 35
P.Palisades 157 181 187 188 176 167
Palms-M.Vista 66 75 74 73 70 75
Playa Del Rey 24 24 20 21 27 22
Playa Vista 6 6 5 3 5 4
Santa Monica 94 98 108 115 107 110
Sunset-Hwd.H.285 299 312 293 294 288
Topanga 70 73 71 73 77 75
Venice 104 121 119 115 111 102
W.Hwood.Vic. 61 58 50 56 51 48
West L.A. 20 30 32 25 23 17
Westchester 53 60 57 42 43 47
Wwood.-C.City 67 72 78 78 82 67
___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
2009 Total 2027 2281 2196
2205 2262 2160
2008 Total 1509 1694 1917 2019 2006 2128
1524 1846 1974 1942 2085 1822
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.