Listing prices flattish
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Not budging: Median listing prices in greater LA were essentially flat over the past week -- slipping by $100 -- as inventory continued to run well ahead of year-ago levels, according to Housing Tracker’s analysis of MLS listings.
Prices: Median listing price was $498,900 for single family homes and condos, down from $499,000 the previous week. Median listing prices are down 9.3% over the past year.
Inventory: The inventory of homes on the market continued to decline, though not as fast as it typically does this time of year, resulting in widening year-over-year appreciation. There are 44,715 homes on the market, down from 45,783 a week ago, but that’s 27.5% more than year-ago levels.
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)
10/07 $510,000 46,603 (up 15.6% y/y)
11/07 $499,900 46,503 (Up 19.0% y/y)
12/3/07 $499,000 45,783 (Up 23.2% y/y)
12/10/07 $498,900 44,175 (Up 27.5% y/y)
Thoughts? Comments? E-mail story tips to peter.viles@latimes.com