Wondering about local real estate in January this year? Think: 24/7.
You don't have to think about it all the time. But that's the number of new listings last month, plus the number of sales (new escrows) in the same period, among SFRs west of Sepulveda.
This is all seen in the new MB Market Update for 1/31/10,…
Wondering about local real estate in January this year? Think:
24/7.
You don't have to think about it all the time. But that's the number of new listings last month, plus the number of sales (new escrows) in the same period, among SFRs west of Sepulveda.
This is all seen in the new
MB Market Update for 1/31/10, viewable online through our custom spreadsheets
(click that link to view). It felt like inventory was bouncing back quicker than normal from the typical holiday-season wave of short-term cancellations. With
24 new listings – including returnees – we did outpace 2009 by a trifling 3 new offerings, versus 21 new listings in January last year.
Our
7 sales (new escrows) this January were equal to the 2009 pace. Yes, while these included a few quick sales that could be interpreted as a bullish sign, the fact is, last year – deep in the doldrums of ongoing economic collapse – MB saw the same number of sales of SFRs west of Sepulveda.
Total inventory this year remains much lower.
We wrapped January 2010 with
74 public offerings west of Hwy. 1
(click chart to enlarge), whereas last year we saw a new high point of inventory reached at
122.
As the chart here shows, we're back over the level of inventory seen as of Nov. 30, 2009, but still well below the levels seen at Labor Day or Halloween.
Intriguingly, the inventory data for 2010 are precisely the same as for 2008. As of Jan. 1, 2008,
and 2010, inventory west of Sepulveda stood at
59. At month's end,
74 in each case. It was 2009 that was the big balloon year.
By (minor) contrast, there were 8 sales in Jan. 2008, instead of the 7 in 2009 and 2010. It's not a busy month.
More on the action west of Sepulveda in our next few posts.
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 7:55pm 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.