Friday, April 04, 2008

PropertyShark says: "It continues."

And, to put those numbers in perspective a bit ... At last count, inventory in Los Angeles was around 54,000. Sales for February '08 were just shy of 3,500.

Inventory stats courtesy of the good people at Bubble Markets Inventory Tracking. A fine site if ever there was one.


jemyr said...

You want to do something fun? Get a ziprealty account and do a wide search. 62,000. Then do "short sale only). I think its at around 6000, then compare that to what is bank owned using propertyshark.

Then you can do fun things like save everything in your area and get a better idea of who is re-listing. Then you can go to zillow and do a California wide search of recent sales above 2 million, 3 million, etc. What I find surprising is how few sales have happened above 1 million compared to how many listings there are at that price point. THEN you can do a zillow search of recent sales with a certain aged house (mid century), at different price points.

Why do that? I keep finding interesting areas in Los Angeles that I've never heard about by doing stuff like this.

Something is seriously wrong with me.

Andrew said...

Great advice, jemyr! I live the overlap of OCD and the internet!

I wonder if the 'Million Dollar Home' will once again mean something once the market hits bottom. So many houses that were priced at over $1m were NOT Million Dollar Homes.