Big Dip in L.A. Listing Prices

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Asking prices in Greater L.A. fell sharply over the last week, but inventory steadied, according to Housing Tracker’s analysis of MLS listings, which we monitor here every week. Housing Tracker shows the median asking price fell by $4,000 in the last week, to $535,000 this week. Inventory actually declined slightly, by 13 houses, with 42,517 now on the market.

More on the numbers: The $535,000 median asking price represents a drop of 7.0% over the last year and 0.9% over the last month. Inventory increased 4.3% in the last month and 17.2% 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)
7/2 $539,000 42,530 (up 19.0% y/y)
7/9 $535,000 42,517 (up 17.2% y/y)

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Photo Credit: Reuters