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Median listing prices in Los Angeles County were flat over the past week as inventory of for-sale homes and condos dipped a little, according to Housing Tracker's weekly analysis of MLS listings,
Median listing prices held at $425,000, down 20.6% from year-ago levels. Also worth noting: inventory is now running just 4.6% ahead of 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%)
7/7/08 $425,000 (down 20.6%) 44,726 (up 5.2%)
7/14/08 $425,000 (down 20.6%) 44,636 (up 4.6%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
 By Ann Brenoff, Times Staff Writer
My answer to those who would argue that Los Angeles has no mavens of culture is Peter Morton, the creator of the first Hard Rock Cafe and those ubiquitous T-shirts. Admit it, you owned at least one.
Morton, whose papa, Arnie, was the founder of the legendary restaurant Mortons, wheels and deals high-end property no matter the economic climate. He just listed a house in Beverly Hills that he’s owned for about two years for $22.5 million.
What makes this property unique among the eight-digit listings is that it will only be shown only on clear days, according to the MLS/CLAW. The listing says the "extraordinary" view is from downtown to the ocean. And apparently they don’t really want you looking in the direction of the house, which is being sold for "land value," says the listing.
The listing offers few details about the property and notes there will be no inspections of the house. This suggests "teardown city" to those who read realty tea leaves. The two-story house on 4 acres was built in 1940, and we personally hate to see the old destroyed for the new. But the basics are: seven bedrooms, eight bathrooms in about 8,000 square feet.
The property has an extraordinary Hollywood ownership lineage as well. It once belonged to actress Marlo Thomas, who sold it to media mogul David Geffen, who flipped it over to radio tycoon Norm Pattiz, who then sold it to Morton for $18.5 million in 2006.
Mortons — the restaurant — was the subject of Julia Phillips’ 1991 book, "You’ll Never Eat Lunch in This Town Again" — the premise being that your ability to get a good table there was a barometer of your relative importance in Hollywood.
Photo: Peter Morton in his Beverly Hills office in 2006
Credit: Ken Hively / Los Angeles Times
Median listing prices in Los Angeles County dropped by another $4,000 over the past week, according to Housing Tracker's weekly analysis of MLS listings, and have now fallen $154,000, or 26.7%, from their April 2006 peak.
Numbers: Housing tracker reports median listing prices fell to
$425,000 from $429,000, marking a decline of 20.6% over the past year.
That 20.6% rate of annual decline marks the highest rate of decline in
this housing cycle. Inventory of homes and condos for sale dropped by
more than 400 units, to 44,726, and is pacing 5.2% ahead of 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%)
6/02/08 $446,500 (down 17.3%) 42,458 (up 4.9%)
6/09/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
6/23/08 $429,990 (down 20.2%) 45,493 (up 8.2%)
6/30/08 $429,000 (down 20.4%) 45,164 (up 7.4%)
7/7/08 $425,000 (down 20.6%) 44,726 (up 5.2%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Median listing prices in Los Angeles County dropped by another $990 over the past week, according to Housing Tracker's weekly analysis of MLS listings, and have now fallen $150,000, or 26%, from their April 2006 peak.
Numbers: Housing tracker reports median listing prices fell to $429,000 from $429,990, marking a decline of 20.4% over the past year. That 20.4% rate of annual decline marks the highest rate of decline in this housing cycle. Inventory of homes and condos for sale dropped by more than 300 units, to 45,164, and is pacing 7.4% ahead of year-ago levels.
Analysis: A decline in the median sales, or listing, price doesn't necessarily mean the value of a typical home has declined by the same amount. It suggests some decline in overall values, but also that the market of listings and sales is increasingly dominated by cheaper homes. This is the foreclosure factor: More and more homes on the market are cheaper, foreclosed homes.
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%)
6/02/08 $446,500 (down 17.3%) 42,458 (up 4.9%)
6/09/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
6/23/08 $429,990 (down 20.2%) 45,493 (up 8.2%)
6/30/08 $429,000 (down 20.4%) 45,164 (up 7.4%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Interesting numbers tonight from Housing Tracker's weekly analysis of MLS listings: Median listing prices in Los Angeles County dropped sharply over the past week, falling by more than $10,000, as inventory of for-sale houses and condos spiked higher. Here's your headline: Median listing prices in Los Angeles have now fallen $149,000, or 25.8%, from their April 2006 peak.
Numbers: Housing tracker reports median listing prices fell from $439,999 to $429,900, marking a decline of 20.2% over the past year. That 20.2% rate of annual decline marks the highest rate of decline in this housing cycle. This tracks pretty close to median sales prices as reported by DataQuick: down 23.3% over the past year in Los Angeles, to $422,000.
Inventory of for-sale homes and condos rose by more than 3,000 units, to 45,493, and is pacing 8.2% ahead of year-ago levels. That sharp rise broke a long streak during which inventory had stayed fairly flat.
Analysis: A decline in the median sales, or listing price, doesn't necessarily mean the value of a typical home has declined by the same amount. It suggests some decline in overall values, but also that the market of listings and sales is increasingly dominated by cheaper homes. This is the foreclosure factor: more and more homes on the market are cheaper, foreclosed homes.
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%)
6/02/08 $446,500 (down 17.3%) 42,458 (up 4.9%)
6/09/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
6/23/08 $429,990 (down 20.2%) 45,493 (up 8.2%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
 Worthwhile reading over the weekend for those of you trying to sell a house right now -- 12 tips, plus a few extras, to sell your house.
The list compiled by Marni Jameson contains some of the usual suspects (Number 2 is "start at the curb", and Number 3 is "Paint!"), and I'll print the entire thing below. What struck me is the tidbit of advice that came after the 12 tips: get real about price.
In an effort to make this unpopular advice more acceptable, San Diego broker Sandy Fish puts it diplomatically. Don't ignore the competition:
"Fish helps clients get realistic about their homes by showing them what else is on the market in the same price range. 'When they see what they're up against, including new homes, that often motivates them to get real about their price and what they should fix up,' Fish says.
Click below to see the top 12 tips.
Read more Twelve tips to sell your house in a crummy market »
Median listing prices in greater Los Angeles fell by $6,500 over the past week as lower-priced homes continue to dominate the market for both listings and sales, according to Housing Tracker's weekly analysis of MLS listings.
The numbers: Median listing price fell from $446,500 to $440,000 in the week ending Monday. Listing prices have fallen 11.8% in six months and 18.5% over the past year. Inventory of for-sale houses and condos remains fairly stable -- dipping slightly to 42,398, an increase of 4.0% over 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%)
6/02/08 $446,500 (down 17.3%) 42,458 (up 4.9%)
6/09/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Median listing prices in Greater L.A. resumed their downward march over the past week, dropping by $2,500, according to Housing Tracker's weekly analysis of MLS listings.
Numbers: Median listing prices fell to $446,500, down from $449,000 a week ago, and down 17.3% from year-ago levels. Inventory of for-sale houses and condos slipped to 42,458, which is 4.9% above 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%)
5/5/08 $450,000 (down 17.4%) 42,647 (up 13.7%)
5/12/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
5/19/08 $449,000 (down 17.6%) 42,532 (up 8.8%)
5/26/08 $449,000 (down 16.9%) 42,518 (up 6.5%)
6/02/08 $446,500 (down 17.3%) 42,458 (up 4.9%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
I'm not even sure what to call this, but it's pretty cool. It's Trulia's new "snapshot" feature, which, as Heather at Trulia points out, "is a really engaging way to visualize local real estate."
It's a marriage of listings, photos and Microsoft Virtual Earth. "You must see it to understand why it's cool," Heather says. I've seen it, it's cool. Click here for a Trulia snapshot of L.A. Or, click here for a Trulia blog item explaining what this is and why they built it.
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Median listing prices in greater L.A. were unchanged over the last week, and inventory was essentially flat as well, continuing a monthlong trend toward stability in the listings market, according to Housing Tracker's weekly analysis of MLS listings.
Numbers: The median listing price held steady at $449,000, a decline of 16.9% from year-ago levels. Inventory of for-sale homes and condos decreased by 14 listings, to 42,518, which marks an increase of 6.5% over 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%)
5/5/08 $450,000 (down 17.4%) 42,647 (up 13.7%)
5/12/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
5/19/08 $449,000 (down 17.6%) 42,532 (up 8.8%)
5/26/08 $449,000 (down 16.9%) 42,518 (up 6.5%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Listing prices in greater L.A. slipped by $900 over the past week as inventory held steady, as the housing market showing signs of possible stabilization, according to Housing Tracker's weekly analysis of MLS listings.
Numbers: Median listing prices slipped from $449,900 to $449,000. That's a decline of 17.6% over the past year. Inventory of for-sale homes and condos held steady at 42,532, and is now trending just 8.8% ahead of year-ago levels.
Signs of stabilization? Possibly. Does that mean we're near a bottom? Not necessarily. This is an unusual market, with foreclosure sales taking a greater market share each month, now closing in on 40% of the California market, according to DataQuick's report on April sales. There's no sign the wave of foreclosures has crested. We haven't seen a market like this before. Uncharted territory.
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%)
5/5/08 $450,000 (down 17.4%) 42,647 (up 13.7%)
5/12/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
5/19/08 $449,000 (down 17.6%) 42,532 (up 8.8%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Listing prices in Greater Los Angeles slipped by a statistically insignificant $100 over the last week, according to Housing Tracker's weekly analysis of MLS listings. (Oddly enough, this is exactly what I predicted on the blog earlier today. Pure dumb luck, trust me.)
The trend this spring is clear: Listing prices have been flat and inventory of homes and condos for sale has also been flat, consistent with a listless market that is neither deteriorating nor showing signs of life.
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%)
5/5/08 $450,000 (down 17.4%) 42,647 (up 13.7%)
5/12/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
No names will be mentioned, Keith, but a certain commenter (Keith) mocked and ridiculed me a week ago for suggesting that the decline in listing prices may have stalled.
Update: Median listing prices were flat again in greater L.A. over the last week, holding steady at $450,000 for the fourth week in a row, according to Housing Tracker's analysis of MLS listings. Inventory of unsold houses and condos was also essentially flat.
Regardless of whether prices have reached a bottom, a temporary bottom, or none of the above, there is a clear trend here: inventory is not building. I'd love to hear your interpretations of that trend.
The numbers:
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%)
3/31/08 $459,900 (down 16.2%) 42,038 (Up 27.6%)
4/7/08 $455,000 (down 16.7%) 42,482 (Up 23.3%)
4/14/08 $450,000 (down 17.4%) 42,428 (Up 19.6%)
4/21/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
4/28/08 $450,000 (down 17.4%) 42,728 (up 14.4%)
5/5/08 $450,000 (down 17.4%) 42,647 (up 13.7%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Photo Credit: Getty Images
A lull in the market decline? A sign we are nearing the bottom? Or a false signal? You tell me: Median listing prices were unchanged for the second week in a row, and inventory of for-sale homes in greater Los Angeles rose only modestly, according to Housing Tracker's analysis of MLS listings.
Highlights:
--Median listing prices were unchanged over the past week at $450,000, a decline of 17.4% from year-ago levels.
--Inventory of homes and condos for sale increased to 42,728, an increase of 14.4% from year-ago levels. A year ago, inventory was building rapidly; this year it has been flat to slightly lower since February.
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%)
3/31/08 $459,900 (down 16.2%) 42,038 (Up 27.6%)
4/7/08 $455,000 (down 16.7%) 42,482 (Up 23.3%)
4/14/08 $450,000 (down 17.4%) 42,428 (Up 19.6%)
4/21/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
4/28/08 $450,000 (down 17.4%) 42,728 (up 14.4%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Median listing prices and inventory of for-sale homes in greater Los Angeles were essentially flat over the past week, according to Housing Tracker's weekly analysis of MLS listings.
Highlights:
--Median listing prices were unchanged over the past week at $450,000, a decline of 17.4% from year-ago levels.
--Inventory of homes and condos for sale increased by two properties to 42,430, an increase of 16.7% from year-ago levels. A year ago, inventory was building rapidly; this year it has been flat to slightly lower since February.
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%)
3/31/08 $459,900 (down 16.2%) 42,038 (Up 27.6%)
4/7/08 $455,000 (down 16.7%) 42,482 (Up 23.3%)
4/14/08 $450,000 (down 17.4%) 42,428 (Up 19.6%)
4/21/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
 This wide-ranging market overview, to be published in Sunday's L.A. Times, but now available online, is worth checking out. Headline: "The Muted Market."
Highlights:
--"It's pretty ugly out there," says longtime Coldwell Banker broker David Toyama. He says business is down 50% from last year.
--Inventory, expressed in months to sell, is running nearly three times greater than historical averages. In February, inventory in L.A. County stood at 21.2 months' worth of sales -- up from 10.6 months a year ago.
--One seller learned the hard (expensive) way how not to sell into a declining market: She listed her West Covina house for $600,000 in February 2007, reduced it to $550,000, then $480,000, then $460,000. She finally sold it after 11 months on the market, for $440,000.
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Photo Credit: L.A. Times
Median listing prices in Greater Los Angeles fell another $5,000 in the past week, and have now declined $130,000 from their bubble peak, according to Housing Tracker's analysis of MLS listings. Highlights:
--Median listing price fell to $450,000, a decline of 17.4% over the past year and 22.4% from the April 2006 peak of $579,666.
--The inventory of unsold houses and condos dipped to 42,428, which is 19.6% ahead of last year's levels. This is a trend worth noting: Inventory has declined slightly since mid-February. It could be that the weak market is discouraging would-be sellers from listing their properties.
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%)
3/31/08 $459,900 (down 16.2%) 42,038 (Up 27.6%)
4/7/08 $455,000 (down 16.7%) 42,482 (Up 23.3%)
4/14/08 $450,000 (down 17.4%) 42,428 (Up 19.6%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Median listing prices in greater Los Angeles fell nearly $5,000 in the past week, and have now declined $125,000 from their bubble peak, according to Housing Tracker's weekly analysis of MLS listings.
Highlights:
--Median listing price fell to $455,000, a decline of 16.7% over the past year and 21.6% from the April 2006 peak of $579,666.
--The inventory of unsold houses and condos rose to 42,482, which is 23.3% ahead of last year's levels. Though inventory is climbing, it is not climbing as fast as it was at this time a year ago. As a result, year-over-year inventory gains have been declining, from a peak of 38.3% in mid-February.
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%)
3/31/08 $459,900 (down 16.2%) 42,038 (Up 27.6%)
4/7/08 $455,000 (down 16.7%) 42,482 (Up 23.3%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Median listing prices in Greater L.A. were essentially flat over the last week, falling $100, as the inventory of unsold homes and condos inched slightly higher, according to Housing Tracker's analysis of MLS listings.
Highlights:
-- Median listing prices fell to $459,900, a decline of 2.1% in the last month and 16.2% in the last year.
-- The inventory of unsold houses and condos rose to 42,038, which is 27.6% ahead of last year's 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%)
3/10/08 $465,500 (down 15.4%) 41,838 (Up 32.3%)
3/17/08 $464,900 (down 15.5%) 42,098 (Up 31.4%)
3/24/08 $460,000 (down 16.2%) 41,934 (Up 27.2%)
3/31/08 $459,900 (down 16.2%) 42,038 (Up 27.6%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
 Median listing prices in greater L.A. fell another $4,900 over the past week and have now fallen a stunning $119,666 -- or 21% -- from their peak in April 2006, according to Housing Tracker's analysis of MLS listings.
Highlights:
--Median listing prices fell to $460,000, a decline of 2.1% in the last month and 16.2% in the last year.
--The inventory of unsold houses and condos declined to 41,934, which is 27.2% ahead of last year's 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%)
3/10/08 $465,500 (down 15.4%) 41,838 (Up 32.3%)
3/17/08 $464,900 (down 15.5%) 42,098 (Up 31.4%)
3/24/08 $460,000 (down 16.2%) 41,934 (Up 27.2%)
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Photo Credit: L.A. Times
 Median listing prices in greater Los Angeles slipped by $600 over the past week, dropping to $464,900, according to Housing Tracker's analysis of MLS listings.
Highlights: Median listing prices have fallen 15.5% over the past year, and 20% from their peak of just under $580,000 in April 2006.
The inventory of unsold homes and condos rose slightly over the past week, to 42,098. Inventory is still pacing 31.4% ahead of 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%)
3/3/08 $469,000 (down 14.7%) 42,356 (Up 35.0%)
3/10/08 $465,500 (down 15.4%) 41,838 (Up 32.3%)
3/17/08 $464,900 (down 15.5%) 42,098 (Up 31.4%)
Thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Median listing prices in greater L.A. slipped by $500 per day over the past week, dropping to $3,500 over the course ot the week, to $465,500, according to Housing Tracker's analysis of MLS listings.
Highlights: Median listing prices have fallen 15.4% over the past year, and 20% from their peak of just under $580,000 in April 2006.
The inventory of unsold homes and condos slipped over the past week, to 41,838. Inventory is still pacing 32.3% ahead of 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%)
3/3/08 $469,000 (down 14.7%) 42,356 (Up 35.0%)
3/10/08 $465,500 (down 15.4%) 41,838 (Up 32.3%)
Thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Photo Credit: AP
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