Median listing prices dropped $61K in ’07

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

Good morning. Median listing prices in greater Los Angeles continued their slide over the past week, dropping by $900, to $489,000, according to Housing Tracker’s analysis of MLS listings.

Over the past year, median listing prices have dropped 11.1% -- or, roughly $61,000, or, if you prefer, $1,170 per week, according to Housing Tracker’s analysis.

Headlines, highlights:
--Median listing prices are now down 15.7% from their peak, which was $579,666, in April of 2006.
--Inventory of single family homes and condos for sale in greater L.A. declined sharply from the previous week, to 41,715, but is running 23.7% 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)
12/17/07 $495,000 (down 10.0% y/y) 43,174 (up 28.2% y/y)
12/24/07 $489,900 (down 10.9% y/y) 42,751 (up 26.8% y/y)
12/31/07 $489,000 (down 11.1% y/y) 41,715 (up 23.7% y/y)

* D -- thanks for reminding me to include this.
Thoughts? Comments? E-mail story tips to peter.viles@latimes.com