L.A. listing prices slip again

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Listing prices in Greater Los Angeles have taken another step down, dropping $2,100 over the past week, according to Housing Tracker, which crunches MLS listings into statistics once a week.

Numbers: The median listing price dropped from $517,000 to $514,900, and has declined 8.1% over the past 12 months. Inventory slipped to 46,219, a drop of 346 listings, but remains 15.1% ahead of year-ago inventory levels. This is a time of year when inventory typically declines; the question for this market is, will it decline as much as it typically does?

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)
8/13 $529,000 44,483 (up 13.6% y/y)
9/10 $520,000 46,414 (up 16.9% y/y)
9/24 $519,000 46,252 (up 14.6% y/y)
10/1 $517,000 46,565 (up 15.1% y/y)
10/8 $514,900 46,219 (up 15.1% y/y)

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Photo Credit: Reuters