Inventory sinks as listing prices dip by $900

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Median listing prices in L.A. County slipped $900 over the past week, and inventory of for-sale homes and condos dipped, according to Housing Tracker’s analysis of MLS listings.

Prices fell to $399,000, a decline of 23.1% from year-ago levels, but down only $1,000 over the past three weeks, a lull in what had been a steady march downward for listing prices.

Inventory dipped more dramatically, dropping nearly 2,000 units, and is now running 12.3% below year-ago levels.

Date Median listing price Inventory

4/06 $579,666 27,251
4/07 $545,000 35,489
5/07 $545,000 38,297
6/07 $540,000 40,766 (up 20.4% y/y)
7/07 $535,000 42,685 (up 14.5% y/y)
8/07 $529,000 44,483 (up 13.6% y/y)
9/07 $520,000 46,414 (up 16.9% y/y)
10/07 $510,000 46,603 (up 15.6% y/y)
11/07 $499,900 46,503 (up 19.0% y/y)
12/07 $495,000 (down 10.0% y/y) 43,174 (up 28.2% y/y)
1/08 $479,900 (down 12.6%) 40,850 (up 33.3% y/y)
2/08 $475,000 (down 13.5%) 43,625 (up 38.3%)
3/08 $464,900 (down 15.5%) 42,098 (up 31.4%)
4/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
5/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
6/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
7/08 $425,000 (down 20.6%) 44,636 (up 4.6%)
8/08 $410,000 (down 22.3%) 42,279 (down 5.1%)
9/2/08 $400,000 (down 23.8%) 42,081 (down 8.6%)
9/8/08 $399,999 (down 23.1%) 41,803 (down 9.9%)
9/15/08 $399,900 (down 23.1%) 42,553 (down 7.9%)
9/22/08 $399,000 (down 23.1%) 40,565 (down 12.3%)

-- Peter Viles

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