The new MB Market Update spreadsheets are online for your viewing by clicking here, or at any time by using the pull-down menu at the top of the page under "MB Market Updates." The current update, dated 10/31/09, covers the final 2 weeks of last month.
Remember, with the new online format, properties actively for…
The new MB Market Update spreadsheets are
online for your viewing by clicking here, or at any time by using the pull-down menu at the top of the page under "MB Market Updates." The current update, dated 10/31/09, covers the final 2 weeks of last month.
Remember, with the new online format, properties actively for sale can be viewed instantly (via Redfin) by clicking the property address in the spreadsheet. Also, you can easily click between the different pages (by region and by active or sold) using the
blue tabs at the top of the page.
October saw more new listings than sales:
18 new entries and
12 sales (new escrows). (Stats for the month are
on the tracking page.)
MBC's tracking also shows
16 cancellations this month, some of which literally dropped out this month by action of the sellers, and some which had been "on hold" for several weeks and which we finally took off our active list to clean things up.
All of that activity left inventory down by just
6 compared to the end of September, with a total of
87 active SFRs west of Sepulveda on Halloween. Inventory by sub-region west of Hwy. 1:
Hills: 18
Sand: 34
Trees: 35
Here's something interesting about Fall sales activity – in 2007 and 2008, both, MBC recorded 12 sales (new escrows) within the month of October. So 2009 was precisely on par.
With inventory, though, a big difference: MBC listed
117 active SFRs at this time last year. We were
down 30 from that point
(-26%) in 2008.
Meanwhile, inventory was up just a bit over 2007, when we had
79.
Of the 12 deals in October,
10 took place in the 2nd half of the month, as seen in the spreadsheets here. These included:
- New construction in the Sand (229 24th, last at $4.499m) and fairly new construction in the Trees (2901 Oak at $1.699m, see "Renting Can Cost You, Part II"); and
- A smattering of short sales and sales below their recent acquisition prices (2812 Elm, 220 36th and 1900 Oak).
Another sale:
429 7th, a flat walkstreet home that had one deal go bad recently, but found another – last at $1.999m. Meanwhile, we had to scratch off the October sales a deal that had posted at
132 2nd, which has had deals flop a few times now.
We'll take a look at new listings and other activity for the month in another post.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 18th, 2024 at 6:15pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.