End of Q3 Sales & Medians

By Dave Fratello | October 17th, 2012
We like to use major markers like the close of quarters to take up questions of prices and sales pace.

We last did this in a major way at midyear in two somewhat detailed posts. (See "Sales Data for First Halves of '06-'12" and "More Median Price Data, 2006-2012.")

With 9 months (3 quarters) in the bag for 2012, here's what the data tell us. (Click either chart to enlarge.)

Citywide, we are running at a median price of $1,511,250 for SFRs in all areas. That's year-to-date, Jan. 1-Sept. 30, 2012.

This is the most modest uptick of 1% over the same period for 2011.

The median price is down, however, from 2010, by about 5%.

Sales volume was comparable for each of the past 3 years, 2010-2012, though 2012 marks a modest high for the past 4 years at 264 closed transactions. (These data come only from the MLS, publicly offered and reported properties.)

Let's look west of the highway.

Here, you have a somewhat higher median price than for the city as a whole at $1,639,000. That's typical.

That YTD figure is up 4% from the same period for 2011, so that's a nice little uptick. (Though it's not 33.4%.)

But – just like citywide – the median price for SFRs west of Sepulveda is down 5% from 2010.

And again, that's on comparable annual sales volume for the period 2010-2012, with a slight peak this year at 189 sales.

Obviously these trends don't portray a gangbusters market. It remains surprising to see 2012 prices coming in below 2010, but the numbers are what they are.

Maybe we get overly excited by quick sales and bidding wars, and the truth is somewhat milder.

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