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

By BayArea   Follow   Thu, 12 Apr 2012, 2:53pm   5,291 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

1. bubblesitter Follow Befriend (5) 10 threads 2,329 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 651 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 55 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 4,426 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 651 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. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 182 threads 4,620 comments Premium

   7   12:05am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   Protected   I believe everything I am told by the NAR

8. xenogear3 Follow Befriend 10 threads 419 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) 184 threads 1,668 comments Premium

   9   2:42am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   Protected   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) 15 threads 5,718 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 (13) 107 threads 3,865 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) 10 threads 2,329 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) 26 threads 1,566 comments Laguna Beach, CA Premium

    13   9:09am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   Protected   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) 10 threads 2,329 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) 26 threads 1,566 comments Laguna Beach, CA Premium

    15   9:52am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   Protected   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 38 threads 2,313 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) 10 threads 2,329 comments

    17   10:29am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   But,but 2009 was the bottom!!!

18. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 182 threads 4,620 comments Premium

    18   10:41am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   Protected   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) 54 threads 379 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) 54 threads 379 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/