2012 YY Inventory, Median Price, and Age of Inventory on the Market


By BayArea   Follow   Thu, 12 Apr 2012, 2:53pm   5,666 views   36 comments
In Oakland CA 94618   Watch (0)   Share   Quote   Permalink   Like   Dislike  

Hi folks, just came across this link showing a comparison between 2012 & 2011 inventory, median price, and # of days on market in three Northern California cities:

http://www.realtor.com/data-portal/Real-Estate-Statistics.aspx?source=web

YY Inventory:
Oakland: -47%
San Francisco: -29%
San Jose: -34.4%

YY Median List Price:
Oakland: +10.4%
San Francisco: +1.1%
San Jose: +7.9%

YY Median Age of Inventory:
Oakland: -42.9%
San Francisco: -26%
San Jose: -27.3

What's your theory for what is pushing supply down this significantly? Let's focus on that since the Median List Price and the Median Age of Inventory are just outputs of the supply drop.

BayArea

Most Liked Comments

  Sort by time instead  
  1. bubblesitter


    Follow
    Befriend (5)
    11 threads
    3,148 comments

    1   7:08pm Thu 12 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    Isn't this site backed,owned,operated by NAR?

  2. tdeloco


    Follow
    Befriend (2)
    11 threads
    218 comments
    San Jose, CA

    2   8:27pm Thu 12 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    People don't wanna sell. Isn't that obvious?

  3. Hysteresis


    Follow
    Befriend (2)
    14 threads
    660 comments

    3   9:58pm Thu 12 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    BayArea says

    YY Median List Price:
    Oakland: +10.4%
    San Francisco: +1.1%
    San Jose: +7.9%

    list price isn't as useful as sale price.

  4. ThreeBays


    Follow
    Befriend (1)
    2 threads
    128 comments
    San Mateo, CA

    4   10:02pm Thu 12 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    tdeloco says

    People don't wanna sell. Isn't that obvious?

    Bingo.

    Inventories are down to about half YoY.
    Sales are down YoY too.

    In other words supply is pushed down by lack of interest to sell, not by an increase in sales.

  5. thomas.wong1986


    Follow
    Befriend
    16 threads
    4,424 comments

    5   11:37pm Thu 12 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    BayArea says

    YY Median List Price:
    Oakland: +10.4%
    San Francisco: +1.1%
    San Jose: +7.9%

    Funny... Dqnews.com which is published nationwide shows SF Bay Area prices falling.

    http://www.dqnews.com/Articles/2012/News/California/Bay-Area/RRBay120118.aspx

  6. Hysteresis


    Follow
    Befriend (2)
    14 threads
    660 comments

    6   12:02am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    thomas.wong1986 says

    Funny... Dqnews.com which is published nationwide shows SF Bay Area prices falling.

    http://www.dqnews.com/Articles/2012/News/California/Bay-Area/RRBay120118.aspx

    dqnews reports sale price.

    this is list price.

    big difference.

  7. APOCALYPSEFUCKisShostikovitch


    Follow
    Befriend (27)
    436 threads
    13,217 comments

    7   12:05am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    I believe everything I am told by the NAR

  8. xenogear3


    Follow
    Befriend
    11 threads
    438 comments

    8   1:49am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    50% visitors here are "unemployed" realtors.

    Just like many people point out, the sale is down too.
    We really don't know if the next leg will up or down.
    Whatever it is, it will be big.

  9. lostand confused


    Follow
    Befriend (9)
    556 threads
    3,231 comments

    9   2:42am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    I think the sellers are hoping that the market has turned. Judging by Japan, we may have along time to go-unless jobs come back. Either of our crazy parties are not itnerested in tarriffs or bringing jobs back-just blaming the other party. So we are stuck and our standard of living will probably go down to match the Chinese.

  10. tatupu70


    Follow
    Befriend (3)
    26 threads
    8,475 comments

    10   5:12am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    ThreeBays says

    Sales are down YoY too.

    Source?

    According to Thomas' link, they are up:

    "A total of 7,494 new and resale houses and condos sold in the nine-county Bay Area in December. That was up 18.6 percent from 6,317 in November, and up 4.4 percent from 7,178 in December 2010. The year-over-year increase was the sixth in a row, according to San Diego-based DataQuick."

  11. FortWayne


    Follow
    Befriend (12)
    177 threads
    5,680 comments

    11   7:15am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    Watch the real inventory early next year, it will be big.

  12. bubblesitter


    Follow
    Befriend (5)
    11 threads
    3,148 comments

    12   9:00am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    APOCALYPSEFUCK is Tony Manero says

    I believe everything I am told by the NAR

    Yep,like 2006 was a good time to buy!

  13. Goran_K


    Follow
    Befriend (4)
    31 threads
    2,192 comments
    Laguna Beach, CA

    13   9:09am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    It's seriously one of the worst times to buy that I can remember since late 2008 (low inventory, high priced properties from bubble buyers trying to bail out too late).

  14. bubblesitter


    Follow
    Befriend (5)
    11 threads
    3,148 comments

    14   9:25am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    Goran_K says

    It's seriously one of the worst times to buy that I can remember since late 2008 (low inventory, high priced properties from bubble buyers trying to bail out too late).

    Seriously,those $8000 hand outs from uncle sam screwed them up! In my zipcode(in socal) there are quite a few that are popping up on redfin - bought around 2008/2009 and and are now listed lower then the bought price.

  15. Goran_K


    Follow
    Befriend (4)
    31 threads
    2,192 comments
    Laguna Beach, CA

    15   9:52am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    Yeah, I'm surprised to see the amount of people "short selling" after 2 freaking years.

    Look at this FHA'er right here in Irvine:
    http://www.redfin.com/CA/Irvine/22-Atherton-92620/home/4781303

    Trying to get out with a $40,000 loss, no problem though, that was Uncle Sam money anyway.

    Good grief.

  16. edvard2


    Follow
    Befriend
    53 threads
    3,807 comments

    16   10:20am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    I think this could be summed up quite easily: Seasonal changes.

    Winter is typically the slowest when it comes to home sales and thus inventory drops. Also- the weather for the past few months around here has been pretty crappy. That too effects the market.

  17. bubblesitter


    Follow
    Befriend (5)
    11 threads
    3,148 comments

    17   10:29am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    But,but 2009 was the bottom!!!

  18. APOCALYPSEFUCKisShostikovitch


    Follow
    Befriend (27)
    436 threads
    13,217 comments

    18   10:41am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    It's 10x in 5 years. You aren't in now, your kids will be living in abandoned cars and boxes.

  19. BayArea


    Follow
    Befriend (3)
    59 threads
    407 comments
    Oakland, CA

    19   10:42am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    edvard2 says

    I think this could be summed up quite easily: Seasonal changes.

    The numbers above compare the same season this year to the same season exactly 1 year ago.

  20. BayArea


    Follow
    Befriend (3)
    59 threads
    407 comments
    Oakland, CA

    20   10:44am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike  

    tdeloco says

    People don't wanna sell. Isn't that obvious?

    Sure, but let's take it a step further.

    Why do they want to sell less today than they did 1 year ago?

    And foreclosures filings are down 17% from one year ago

    http://moneyland.time.com/2012/04/12/foreclosures-are-at-a-4-year-low-but-thats-not-necessarily-good-news/

BayArea is moderator of this thread.

Email

Username

Watch comments by email
Home   Tips and Tricks   Questions or suggestions? Mail p@patrick.net   Thank you for your kind donations

Page took 452 milliseconds to create.