November Los Angeles Real Estate and Condominium Statistics, YTD

Here are some more statistics I found on the MLS. In 2005 there were 7,773 new condo listings, of which 5,375 sold. In 2006 there are 9,723 new listings and 4,429 have sold. Therefore the number of sold listings is only down about 20%. However, the ratio of new listings to number of sales is up to over 220%. In 2005 the ratio was 140% meaning the ratio has increased. So if there were four to see in 2005 there are now six. Not huge but definitely notable.

It may also be notable that leases have gone up all over Los Angeles about 12%. I have noticed a greater increase for certain areas as high as 20%. Most of the more desirable westside areas are up around 15%.

November 2006 Statistics - YTD

Property Type New Listings Sold Listings Median Sale Price
2005 2006 2005 2006 2005 2006
Single Family 15,864 19,569 9,788 8,579 825,000 840,000
Condo 7,773 9,723 5,375 4,429 545,000 560,000
Income 4,982 5,114 2,574 1,932 750,000 780,000
Land 1,411 1,449 483 271 310,000 280,000
Lease 4,845 5,677 2,919 3,017 3,150 3,500

Simon Salloom
Santa Monica Realtor
International President's Elite
(Ranked in the top 3% of Coldwell Banker agents nationwide.)
www.SantaMonicaSimon.com

Coldwell Banker, Brentwood Court Office
11611 San Vicente Blvd.,Lobby
Los Angeles, CA 90049

(310) 749-8686 Mobile
(310) 442-1377 Direct
(866) 563-4969 Direct E-mail Fax
(310) 442-8049 Direct Fax
(310) 207-2691 Office Fax
ssalloom@gmail.com