L.A. listing prices drop $4K, now down $154K from peak

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Median listing prices in Los Angeles County dropped by another $4,000 over the past week, according to Housing Tracker’s weekly analysis of MLS listings, and have now fallen $154,000, or 26.7%, from their April 2006 peak.

Numbers: Housing tracker reports median listing prices fell to $425,000 from $429,000, marking a decline of 20.6% over the past year. That 20.6% rate of annual decline marks the highest rate of decline in this housing cycle. Inventory of homes and condos for sale dropped by more than 400 units, to 44,726, and is pacing 5.2% ahead of year-ago 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%)
3/08 $464,900 (down 15.5%) 42,098 (up 31.4%)
4/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
5/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
6/02/08 $446,500 (down 17.3%) 42,458 (up 4.9%)
6/09/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
6/23/08 $429,990 (down 20.2%) 45,493 (up 8.2%)
6/30/08 $429,000 (down 20.4%) 45,164 (up 7.4%)
7/7/08 $425,000 (down 20.6%) 44,726 (up 5.2%)

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