L.A. Asking Prices Steady, but Inventory Climbing

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

Asking prices in Greater L.A. held steady over the last week as inventory continued to pile up, according to Housing Tracker’s analysis of MLS listings, which we monitor here every week. Housing Tracker shows the median asking price at $539,000 this week. Inventory lurched higher again, with an additional 735 homes listed, and now 42,059 are on the market.

Random fact: Since we started this blog two months ago, inventory has spiked by 6,500 houses, or 19%.

More on the numbers: The $539,000 median asking price represents a drop of 6.9% over the last year, and 0.2% over the last month. Inventory increased 5.3% in the last month and 19.3% over the last year.

Date Median Price Inventory

4/16 $545,000 35,489
4/23 $545,000 36,348
4/30 $545,000 37,338
5/07 $545,000 37,511
5/14 $545,000 38,297
5/21 $545,000 39,100
5/28 $540,000 39,941 (up 24.6% y/y)
6/4 $540,000 40,458 (up 23.3% y/y)
6/11 $540,000 40,766 (up 20.4% y/y)
6/18 $539,000 41,324 (up 18.7% y/y)
6/25 $539,000 42,059 (up 19.3% y/y)

Comments? Analysis? Let loose. E-mail story tips to lalandblog@yahoo.com.
Photo Credit: LATimes