Median listing prices slip by $9K

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Median listing prices slipped again in greater L.A. over the past week, dopping by $9,000, to $500,000, according to Housing Tracker’s weekly analysis of MLS listings.

Inventory of for-sale homes slipped by 472 listings, to 46,710, but remains 16.5% ahead of year-ago levels.

The median price drops are significant: Median prices have now dropped $79,666, or 14%, from peak levels of April 2006, and have dropped $45,000, or 8%, since early April of this year.

Date Median Price Inventory
4/06 $579,666 27,251
4/07 $545,000 35,489
5/07 $545,000 38,297
6/07 $540,000 40,766 (up 20.4% y/y)
7/07 $535,000 42,685 (up 14.5% y/y)
8/07 $529,000 44,483 (up 13.6% y/y)
9/07 $520,000 46,414 (up 16.9% y/y)
10/8/07 $514,900 46,219 (up 15.1% y/y)
10/15/07 $510,000 46,603 (up 15.6% y/y)
10/22/07 $509,000 47,182 (up 17.0% y/y)
10/29/07 $500,000 46,710 (up 16.5% y/y)

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Photo Credit: Reuters