Los Angeles County South Bay Beach Cities Real Estate $$$ Transacted for December 2007
December was another sick month in terms of dollar volume. The zip codes that exceeded December 2006 in terms of dollar volume were 90064 (Rancho Park), 90292 (Marina del Rey), 90094 (Playa Vista), 90232 (Culver City), and 90717 (Lomita). Of those zip codes, I'd say only that 90064 and 90094 have been on steroids - the remaining markets are more advanced in their dollar volume meltdown like everywhere else.
Dollar volume looks awful. Last week I heard a statistic tossed out on Bloomberg that for 2007 one out of four California realtors sold nothing, and it shows. It's at the point where I would say it can't get much worse, in terms of dollar volume. We're probably due for some kind of bounce, and the sales numbers coming in the first few days of January do indeed look a lot stronger. Those numbers are probably largely from post-Christmas activity. Of course, any pulse at all is a market improvement if the market's been dead. I think we'll see some zombies this spring.
YOY comparisons
Remember, the YOY numbers are not taken on the raw numbers, they are taken on the doubly smooth 3 month moving average. They lag the raw data somewhat.
Realtors fat and happy... 90094 113.3% Playa Vista 90254 9.4% Hermosa Beach Not to shabby, considering... 90045 3.1% Westchester Losing a grip... 90293 -0.9% Playa del Rey 90064 -6.1% Rancho Park/Cheviot Hills Slip sliding away... 90501 -11.9% Torrance 90008 -15.1% Baldwin Hills / Leimart Park 90277 -16.9% Redondo Beach (south) beach cities -18.4% 4 Beach Cities combined 90266 -19.1% Manhattan Beach 90036 -21.0% Park La Brea 90291 -21.9% Venice 90277-90278 -23.2% Redondo Beach combined 90505 -24.9% Torrance 90066 -25.3% Mar Vista 90275 -27.1% Palos Verdes Estates 90278 -27.7% Redondo Beach (north) 90401-90405 -28.7% Santa Monica combined Sliding over a cliff... SW county -31.3% Southwest L.A. County 90232 -35.1% Culver City 90503 -35.7% Torrance 90245 -36.1% El Segundo 90501-90505 -36.2% Torrance Combined 90034 -36.4% Palms 90019 -38.8% Country Club Park/Mid City 90230 -38.9% Culver City 90732 -39.1% San Pedro/Rancho PV 90292 -39.7% Marina del Rey 90717 -43.3% Lomita 90504 -44.5% Torrance 90035 -45.0% West Fairfax 90007 -45.5% South Central Over the cliff, Thelma and Louise style... 90250 -53.8% Hawthorne 90056 -54.4% Ladera Heights 90304 -56.3% Lennox 90301 -59.7% Inglewood 90043 -61.6% Hyde Park, Windsor Hills 90016 -64.9% West Adams 90047 -65.5% South Central 90062 -66.8% South Central 90301-90305 -68.5% Inglewood/Lennox combined 90745 -70.3% Carson 90260 -70.6% Lawndale 90746 -70.9% Carson 90302 -71.2% Inglewood 90044 -71.3% Athens 90305 -71.5% Inglewood 90502 -71.7% Torrance 90018 -72.9% Jefferson Park 90303 -75.9% Inglewood 90249 -76.8% Gardena 90037 -79.2% South Central 90744 -318.6% Wilmington"Relative Strength"
This is a longer-term view of the strength of dollar volume, for this month with 4.8 being the strongest (suffering the least amount of chronic pain) and -0.3 being the weakest (suffering the most chronic pain). Think of it is as the area above 0 on the YOY graph with the area below 0 of the YOY graph subtracted out.
90094 4.8 Playa Vista 90305 2.9 Inglewood 90044 1.9 Athens 90034 1.8 Palms 90746 1.6 Carson 90292 1.5 Marina del Rey 90047 1.2 South Central 90062 1.1 South Central 90301-90305 1.1 Inglewood/Lennox combined 90304 1.1 Lennox 90502 1.1 Torrance 90007 1.0 South Central 90018 1.0 Jefferson Park 90745 0.9 Carson 90303 0.9 Inglewood 90016 0.9 West Adams 90302 0.9 Inglewood 90301 0.9 Inglewood 90250 0.9 Hawthorne 90037 0.8 South Central 90732 0.8 San Pedro/Rancho PV 90293 0.8 Playa del Rey 90043 0.7 Hyde Park, Windsor Hills 90019 0.7 Country Club Park/Mid City 90501 0.7 Torrance 90008 0.6 Baldwin Hills / Leimart Park 90249 0.6 Gardena SW county 0.6 Southwest L.A. County 90503 0.6 Torrance 90230 0.6 Culver City 90064 0.6 Rancho Park/Cheviot Hills 90260 0.5 Lawndale 90291 0.5 Venice 90254 0.5 Hermosa Beach 90045 0.5 Westchester 90036 0.5 Park La Brea 90501-90505 0.4 Torrance Combined 90278 0.4 Redondo Beach (north) 90232 0.4 Culver City 90245 0.4 El Segundo 90066 0.4 Mar Vista 90277-90278 0.3 Redondo Beach combined 90035 0.3 West Fairfax 90505 0.3 Torrance 90056 0.3 Ladera Heights beach cities 0.3 4 Beach Cities combined 90401-90405 0.3 Santa Monica combined 90717 0.2 Lomita 90266 0.2 Manhattan Beach 90277 0.2 Redondo Beach (south) 90504 0.2 Torrance 90275 0.0 Palos Verdes Estates 90744 -0.3 Wilmington
For details on individual zip codes, visit my regional tracker, or my Google map tool of most of the same data. I cover most zip codes south of the 10 freeway and west of the 10.
posted by bearmaster at 1:04 PM
1 Comments:
Some of the regular readers on my blog will recall my discussion over the last few months of how asking prices have met sale prices. I added that I now expect a major price move by one group of these market participants in one direction.
I said I thought it was unlikely that sellers would jack up their asking prices. But in updating my database records I am seeing precisely that! Some sellers are RAISING their asking prices substantially, expecting a spring recovery I suppose.
If that is the case, then clearly not enough participants in this market have experienced enough pain yet for a meaningful and lasting correction. We've got a LONG way to go.
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