Surprise: LA inventory slips

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Here’s a small surprise from Housing Tracker’s weekly analysis of MLS listings: the inventory of homes for sale in Greater L.A. slipped slightly over the past week, as median listing prices held steady.

The median listing price dropped by exactly one dollar, from $520,000 to $519,999, and is 8.5% below year-ago levels; inventory fell by 196 houses and condos, bringing the total number of listings in Greater L.A. to 46,218, an increase of 15.2% over year-ago levels.

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)
8/20 $528,000 44,451 (Up 13.0% y/y)
8/27 $525,000 45,168 (Up 13.2% y/y)
9/3 $525,000 46,046 (Up 15.9% y/y)
9/10 $520,000 46,414 (Up 16.9% y/y)
9/17 $519,999 46,218 (Up 15.2% y/y)

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Photo Credit: Reuters