| Date | Inventory (SFH + Condo) | 25th Percentile | 50th Percentile (Median) | 75th Percentile |
| 03/31/2008 | 48,449 | $230,000 | $309,900 | $429,900 |
| 03/24/2008 | 48,721 | $235,000 | $315,000 | $435,000 |
Down another $5k on all three price points this week. Inventory is slightly down but it's not from sales. A lot of the non-distressed listings are being pulled from the market. I've been seeing this trend for a couple of months now in the areas that I watch. It seems at least some of the dreamers are waking up to the fact that they missed the gravy train.
5 comments:
Removal of overpriced, non-distressed sales is also a good explanation for the drop in average asking prices.
I've started looking at DataQuick's per square foot figure for actual sales: http://www.dqnews.com/Charts/Monthly-Charts/LA-Times-Charts/ZIPLAT0802.aspx
- Baron von Rothschild
Anyone waiting for the market to turn is insane. Every single one of those withdrawn listings will never see that price again.
Well, they're not going to give them away you know! hahahaha
There's a lot of insanity. I have friends in Ontario who are moving to Orange County for work and need to sell their house. They understand the foreclosure swarm is a problem - but their response is to wait until the foreclosures are cleared. I tried to explain to them that there's no end in sight to the foreclosures but they won't listen. It's greed on their part, not being locked in - they bought in 2001 and could get out profitably even on a firesale.
FairEconomist
What is a firesale?
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