The median listing price in Greater L.A. fell by $5,000 in the last week as inventory continued to climb at an accelerating pace, according to Housing Tracker's weekly tabulation of MLS listings.
The median listing price dropped from $525,000 to $520,000, and is 8.3% below year-ago levels; inventory shot up by 368 houses and condos, bringing the total number of listings in Greater L.A. to 46,414, an increase of 16.9% over year-ago levels. The growth in inventory -- which appeared to be slowing in July and August -- has been on the rise for three weeks in a row.
Date Median Price Inventory
4/16 $545,000 35,489
5/14 $545,000 38,297
6/11 $540,000 40,766 (up 20.4% y/y)
7/16 $535,000 42,685 (up 14.5% y/y)
7/23 $535,000 43,225 (Up 14.5% y/y)
7/30 $530,000 43,676 (Up 14.0% y/y)
8/6 $529,900 43,989 (Up 14.1% y/y)
8/13 $529,000 44,483 (Up 13.6% y/y)
8/20 $528,000 44,451 (Up 13.0% y/y)
8/27 $525,000 45,168 (Up 13.2% y/y)
9/3 $525,000 46,046 (Up 15.9% y/y)
9/10 $520,000 46,414 (Up 16.9% y/y)
How about those numbers?
