L.A. listing prices down another $5,100

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Good morning. Median listing prices in greater Los Angeles continued their slide over the past week, dropping by $5,100, or 1.0% in a week, according to Housing Tracker’s weekly analysis of MLS listings.

Highlights:
--Median listing prices slipped to $489,900, a decline of 10.9% from year-ago levels. Median listing prices are now down 15.5% from their peak, which was $579,666, in April of 2006.
--Inventory of homes for sale declined from the previous week, to 42,751, but continues to run well ahead of year-ago levels -- by 26.8% (Tracking inventory is tricky: It should be falling this time of year, and it is; it’s just not falling as fast as it usually does).

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)
12/10/07 $498,900 44,175 (Up 27.5% y/y)
12/17/07 $495,000 (down 10.0% y/y) 43,174 (Up 28.2% y/y)
12/24/07 $489,900 (down 10.9% y/y) 42,751 (Up 26.8% y/y)

Thoughts? Comments? E-mail story tips to peter.viles@latimes.com