Time to open it up anew.
We begin with some statistics helpfully placed in the Easy Reader (current edition) by way of a paid ad by a major local realty concern:
ALL BEACH CITIES (MB, HB, RB + El Seg.)
June 2008 home sales: 116 (-36.3% YOY)
Inventory: 720 homes (12-month high)
Months' supply: 6.2 (up from 3.2 in June…
Time to open it up anew.
We begin with some statistics helpfully placed in the
Easy Reader (current edition) by way of a paid ad by a major local realty concern:
ALL BEACH CITIES (MB, HB, RB + El Seg.)
June 2008 home sales:
116 (-36.3% YOY)Inventory:
720 homes
(12-month high)Months' supply:
6.2 (up from 3.2 in June 2007 – based on closed sales in each month)A lot of people will call 6 months' worth of inventory "normal" or even a buyers' market.
Against those downbeat notes, there was this silver lining: median price for all beach cities was
down 1.1% YOY, at a time when LA County was d
own 23.9% for the same period. The advertorial speculates that this fact has something to do with greater relative demand for higher-priced properties.
Are we weathering the storm, or are the clouds just now gathering?Also, this bit of intriguing information – Fannie Mae, which is getting pummeled again, now has a stock value ($8.40 at close Monday) last seen in early 1991. It's now 10% of the peak value from earlier this century – i.e., a few years ago. That grim comparison is before we adjust for inflation, which wouldn't be pretty.
And Fannie is supposed to help rescue everyone else.
As always, please use the "Open Forum" thread for news clips, off-topic questions & discussions of any nature. And keep it clean.
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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 19th, 2024 at 4:45am 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.