LA listing prices dip again

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

For the third week in a row, the median listing price of a home in greater L.A. fell, and inventory continued to pile up on the market, according to Housing Tracker’s analysis of MLS listings, which we track here every week.

Median asking price dipped by $900, to $529,000 -- a decline of 7.2% over the past year. Inventory spiked by 494 listings in the past week, and now stands at 44,483 - up 4.2% over the past month, and 13.6% over the past year. Although inventory continues to build, it does appear that it is building at a slower rate, as the chart below illustrates.

Date Median Price Inventory
4/16 $545,000 35,489
5/14 $545,000 38,297
6/11 $540,000 40,766 (up 20.4% y/y)
7/16 $535,000 42,685 (up 14.5% y/y)
7/23 $535,000 43,225 (Up 14.5% y/y)
7/30 $530,000 43,676 (Up 14.0% y/y)
8/6 $529,900 43,989 (Up 14.1% y/y)
8/13 $529,000 44,483 (Up 13.6% y/y)

Comments? Thoughts? Insights? Email story tips to lalandblog@yahoo.comL
Photo Credit: Reuters