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Median listing prices dropped $61K in '07

January 2, 2008 | 10:29 am

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 

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