MB Market Update for 7/31/10, Overview

Posted by Dave Fratello on Thursday, August 5th, 2010 at 3:10am.

July was the second month in a row in which new listings substantially outpaced sales (new escrows). And it was the first time since last August that inventory flirted with 100 SFRs for sale west of Sepulveda, but we're not quite there yet.

In our independent market tracking, MBC recorded 37 new listings in the month of July, and about half as many sales, 19 total new escrows for the whole month among SFRs west of Sepulveda.

Looking only at the 2-week period from July 16-31, the pace was somewhat more even: 20 new listings, and 13 sales (new escrows) – 10 of those sales in the Tree Section.
 
For the whole story, see the new MB Market Update spreadsheets. Those are up online for your viewing and use by clicking here, or at any time by using the pull-down menu on the front page under "MB Market Updates."

Total inventory was at 95 SFRs west of Sepulveda, up 12 from the end of June. Without the 8 cancellations in July, we'd be talking about inventory over 100 for the first time in a year.

Inventory by sub-region west of Hwy. 1 (for more see the tracking page of the spreadsheets) broke out this way:
The greatest growth in inventory over the past month is easy to pinpoint: It's the beach. The Sand Section had 31 listings at the end of June, and is up 13 now.

The busiest area by far has been the Trees, with 18 new listings in July and 13 sales (new escrows) – that's about half the listings and 70% of the sales activity. In the second half of the month, 7 of the 10 Tree Section sales were priced below $1.5m.

More soon on activity in each part of town.
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