L.A. listing prices down 95K from peak

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Median listing prices in greater Los Angeles took another big dip over the past week, dropping by $4,100, to $484,900, according to Housing Tracker’s analysis of MLS listings.

Headlines, highlights:
--Over the past year, median listing prices have dropped 11.7%.
--Median listing prices are now down $94,766, or 16.3%, from their peak, which was $579,666, in April of 2006.
--Inventory of single family homes and condos for sale in greater L.A. declined sharply from the previous week, to 40,377, but is running 34.4% ahead of year-ago levels -- a major increase in inventory given falling sales.

Date Median listing price Inventory
4/06 $579,666 27,251
4/07 $545,000 35,489
5/07 $545,000 38,297
6/07 $540,000 40,766 (up 20.4% y/y)
7/07 $535,000 42,685 (up 14.5% y/y)
8/07 $529,000 44,483 (up 13.6% y/y)
9/07 $520,000 46,414 (up 16.9% y/y)
10/07 $510,000 46,603 (up 15.6% y/y)
11/07 $499,900 46,503 (up 19.0% y/y)
12/17/07 $495,000 (down 10.0% y/y) 43,174 (up 28.2% y/y)
12/31/07 $489,000 (down 11.1% y/y) 41,715 (up 23.7% y/y)
1/7/08 $484,900 (down 11.7% y/y) 40,377 (up 34.4% y/y)

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