Listing prices now down $120K from peak

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Median listing prices in greater L.A. fell another $4,900 over the past week and have now fallen a stunning $119,666 -- or 21% -- from their peak in April 2006, according to Housing Tracker’s analysis of MLS listings.

Highlights:

--Median listing prices fell to $460,000, a decline of 2.1% in the last month and 16.2% in the last year.
--The inventory of unsold houses and condos declined to 41,934, which is 27.2% ahead of last year’s levels.

Date Median listing 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)
12/07 $495,000 (down 10.0% y/y) 43,174 (up 28.2% y/y)
1/08 $479,900 (down 12.6%) 40,850 (up 33.3% y/y)
2/08 $475,000 (down 13.5%) 43,625 (Up 38.3%)
3/10/08 $465,500 (down 15.4%) 41,838 (Up 32.3%)
3/17/08 $464,900 (down 15.5%) 42,098 (Up 31.4%)
3/24/08 $460,000 (down 16.2%) 41,934 (Up 27.2%)

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Photo Credit: L.A. Times