Tuesday, September 1, 2009

New, Sold, and Withdrawn/Expired listings

Key observations:

* It continues to be two very different markets. Palms-Mar Vista is hot for conforming-loan properties, while most higher-priced listings sit unsold, overpriced despite reductions this year, looking for buyers.

* Santa Monica and Pacific Palisades new listings are up a little from last year, while Palms-Mar Vista is down a little.

* Pacific Palisades and Palms-Mar Vista sold listings are down from July. I expect a rebound in Mar Vista in September from a lot of current escrows there, contrasting with very little in Palisades.

* More Santa Monica listings >$3M were Withdrawn/Expired than sold.

1 comment:

Alvin Gregg said...


It is an in depth post on Expired listings with an excellent graphical depiction.

Expired listings were on the market at one time, unlike many other types of clients you will contact. The owners had a plan laid out to sell and move. Unfortunately, their plan did not work out, but, in most cases, they wish it had. There will be some expireds that were listed by clients who are now tired of the process, but the majority of them still want to sell.