MB Market Update for 7/15/09Posted on Friday, July 17th, 2009 at 4:28am.
Information in this update covers the first half of July 2009, reflecting new listings, price cuts and sales activity for SFRs west of Sepulveda. Data closed July 15.
We'll start out with a slightly technical note that may be of broader interest. (It might not be, hence the cute-kid pic.) We've made a change to the Tree Section spreadsheets such that one page covers listings priced up to $1.5m, and the second page covers $1.5m and above.
For MBC's first 2+ years, the dividing line for the Trees was $2m. However, most listings now are in the sub-$2m range, and there has been comparably little activity in the Trees' higher end.
On a related note, all Tree Section sales now go on a single sales page, like we've done with the Sand Section for some time.
The change in the Trees shortens the update by one page. But Hill Section inventory is close to forcing creation of a third page there, as well. Maybe we can stave it off.
Speaking of inventory, our count as of July 15 was 142 SFRs, breaking down this way:
Hill Section: 34The other day, MLS data for SFRs citywide were showing inventory pretty level, year over year, from 2008-2009.
Sand Section: 61
Tree Section: 47
But that's not the case for SFRs west of Hwy. 1. In mid-July 2008, MBC recorded 108 SFRs on public offer in our subject region. By the end of July, that figure had crept up to 116.
With 34 more listings in our area year over year, we can only conclude that there is some significant shifting of MB's citywide inventory mix toward the region west of Sepulveda.
Consider these comparative inventory figures comparing our July 15 updates, 2008-2009:
Hill Section – 2008: 24 , 2009: 34 (+10)Yep, blame the prestige areas – especially the beach.
Sand Section – 2008: 36, 2009: 61 (+25)
Tree Section – 2008: 48, 2009: 47 (-1)
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