Real Estate Market Trends and Prices

The following charts incorporate all the sales in LA County reported through the MRMLS (MLS serving the individual associations such as The South Bay Association of Realtors). The trend we are seeing is fairly consistent with analysis we have done for many individual markets. Specifically, inventory is declining, sales are fairly stable, pendings are increasing, and inventory is declining. Considering that in real estate, perception usually follows reality by six months, buyers should be aware that prices are stabilizing and desirable properties that are priced right will sell quickly. Good news for sellers, not so good for buyers.

Date	6/10	7/10	8/10	9/10	10/10	11/10	12/10	1/11	2/11	3/11	4/11	5/11	6/11	7/11	8/11
For Sale	8683	9233	9371	9536	9311	9059	8121	8411	8295	8095	7949	7517	6786	6785	6729
New Listing	2726	2864	2708	2608	2288	2113	1694	2608	2311	2858	2532	2706	2737	2645	2483
Sold	1692	1448	1431	1325	1265	1239	1416	1081	1026	1516	1450	1427	1569	1445	1515
Pended	1465	1367	1407	1210	1238	1262	1024	1126	1310	1543	1550	1650	1615	1600	1895
Months of Inventory (Closed Sales)	5.1	6.4	6.5	7.2	7.4	7.3	5.7	7.8	8.1	5.3	5.5	5.3	4.3	4.7	4.4
Months of Inventory (Pended Sales)	5.9	6.8	6.7	7.9	7.5	7.2	7.9	7.5	6.3	5.2	5.1	4.6	4.2	4.2	3.6
Absorption Rate (Closed Sales) %	19.5	15.7	15.3	13.9	13.6	13.7	17.4	12.9	12.4	18.7	18.2	19	23.1	21.3	22.5
Absorption Rate (Pended Sales) %	16.9	14.8	15	12.7	13.3	13.9	12.6	13.4	15.8	19.1	19.5	22	23.8	23.6	28.2
Avg. Active Price	570	566	555	541	534	519	505	511	519	534	547	568	600	608	608
Avg. Sold Price	461	478	457	483	464	446	454	441	436	466	453	498	476	473	457
Avg. Sq. Ft. Price	292	292	290	295	293	276	282	279	274	280	280	300	289	290	282
Sold/List Diff. %	98	98	98	97	97	97	97	97	97	97	97	96	97	96	97
Sold/Orig LP Diff. %	96	95	96	94	94	94	93	93	93	93	94	92	93	92	94
Days on Market	60	61	60	60	64	69	69	77	81	81	77	77	73	71	71
Median	352	350	352	365	335	340	345	330	330	340	345	340	340	350	325