MB Market Update for 7/31/08Posted on Monday, August 4th, 2008 at 5:46am.
The current update covers activity in the second half of July.
We ended the month with 116 active SFRs in our subject region west of Sepulveda. This is, again, the highest total MBC has reported in a year-plus of public market tracking, though it's only +3 from the end of June.
There were 26 actives in the Hill Section, 40 in the Sand, and 50 in the Trees.
At mid-month, we might have made too much of the relative balance in the first part of July, which saw 10 new listings and 12 sales (new escrows). (See "Warmer than Expected.")
By the end of the month, we had less balance. For all of July, MBC recorded 26 new listings and 17 sales (new escrows). Meanwhile, 11 listings canceled in July.
There were lots of interesting developments, including sales and price cuts, which we'll cover in the coming days.
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