Remember the quiet we were talking about last week? A near-blackout in new listings for early April?
That had an effect on overall inventory.
A little burst of sales and cancellations dropped SFR inventory west of Sepulveda for the first time in a 2-week period this year.
This is clear at the end of this graph (click…
Remember the quiet we were talking about last week? A near-blackout in new listings for early April?
That had an effect on overall inventory.
A little burst of sales and cancellations
dropped SFR inventory west of Sepulveda for the first time in a 2-week period this year.
This is clear at the end of this graph
(click to enlarge) and in the new
MB Market Update Spreadsheets for 4/15/09 (download by clicking the link here, or at any time using the link in the upper-right corner of the front page).The year 2009 began at
105 listings, we ended March at
155 SFRs, and the figure was down to
147 by mid-April. (At this writing, we're back to 151.)
The first part of April saw just
5 new listings, but
7 sales (new escrows) and
6 cancellations, for a total
-8 hit on inventory.
(
Side note: For those of you wondering how our little
poll/contest regarding new listings last week wound up, we counted
7 new listings in the 7-day period Monday-Sunday, so the folks voting
5-8 new listings
(29% of all) were right.)
So have we peaked for the year 2009? Take a look at our chart above. Inventory began 2008 at
59 and climbed to
96 by the same point last year, growing at a steep clip before Spring became Summer.
However, that wasn't the end. Over the next 6 months, inventory grew by a net of
28 listings
(+29%) to an Oct. 15 peak of
124.
Were we to see inventory of SFRs west of Hwy. 1 grow this year at the same pace, we'd be at a cool
200 by late September.
Of course, past results are no predictor of the future.
For now, we can say we've seen a little tapping on the brakes. Now here comes Summer, when everyone wants to be at the beach.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 12:40am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.