As we noted first last week
, the sales data for our little hamlet from the first half of 2012 don't exactly tell the story we expected.Median prices down?
Even with the mini-frenzy that has erupted over some listings this year?
Yes and no.
Citywide, the median price for SFRs is down by any measure. (See our first chart here; click to enlarge.)
That's true whether you look at the 6-month or 12-month periods ending June 30, 2012.
But West of Sepulveda, the median price is up. Again, by either measure.
The deeper you get into these data, the more you see that there's something for everyone.
You can prove prices are up by a little or (nearly) a lot. Or you can prove that prices are down. You can prove that West of Sepulveda is performing much better than MB as a whole, with a median price nearly $200k higher than the citywide figure. It's all there.
We ran the data in 2 separate ways:
- Comparing the 6-month periods ending June 30 of each year, 2006-2012, and
- Comparing the 12-month periods ending June 30 of each year, 2006-2012.
The larger data sets show lower current
median prices, hinting that a jump in prices is more pronounced recently.
As we've seen before, the smaller the dataset, the narrower the window of time, the more volatile the numbers. So we tend to see the smaller 6-month numbers as less reliable – but time will tell.
We tried putting all of these data into charts, and saw that the results were confusing. Last week's single chart for the 6-month data gave you sales totals plus
median prices for 2 regions
of MB over 7 years.
It was a great chart if you're a nerd trying to learn something, but frankly not very accessible.
So we narrowed the data.
You see the citywide median prices above. Here's the run of median prices for west of Sepulveda (6-month and 12-month sets).
It's quite striking to see the upward trends for this region regardless of time period. The city's down, but west of the highway is up. Something is different near the beach.
Last year, $1.575m by the 12-month measure; this year, $1.627m – a boost of 3%.
Last year, $1.610m for a 6-month period; this year, $1.740m, or plus 8%.
And if you're game, check out our last charts, the compleat 12-month data on sales figures and median prices for both regions (noodle away!) and a re-post of the same chart from last week with just 6-month data. (Click any chart to enlarge.)