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March Home sales slow, Median price drops.


WITH no end in sight to the slump in the residential market, Los Angeles County home sales continued to swoon in March while the median price of a single-family home hit a three-year low.

Sales of new and existing single-family homes sank 52 percent year over year, falling to 2,532 from 5,286, according to data supplied to the Business Journal by HomeData Corp., a Melville, N.Y., company.

The median price plunged over the same period to $465,000, 17 percent lower than a year ago and 21 percent off the peak reached in May and July of 2007.

The slowdown had some analysts predicting that sales would not fall further, though they would likely remain flat for some time to come.

"We are obviously at the bottom of the market in regard to the number of transactions," said Steve Johnson, director of Metrostudy Southern California, a housing market research firm. "I think we can stay at the bottom. Sales activity will probably stay flat through 2009."

Since October, sales have been running at about 50 percent compared with the prior year, with transactions primarily taking place among people who are forced to enter or leave the market for imperative reasons such as a job transfer or divorce, Johnson said.

What is less clear is whether the fall in median prices is reaching its bottom or still has a way to go. The county's $465,000 median was last reached exactly three years ago in March 2005. But that was still well into the eight-year housing boom, which artificially inflated prices through easy credit for both prime and subprime borrowers.

Since last year, though, a combination of tougher credit conditions and the collapse in the private secondary market for securitized mortgages has depressed demand for affordable homes and the supply of loans to finance them.

"Tighter underwriting standards have knocked the legs out of the market for homes under $500,000," said Robert Kleinhenz, deputy chief economist for the California Association of Realtors.

Neighborhood review

Peripheral areas have been hit especially hard. In Palmdale, the median price in the 93550 ZIP code in March slid 37 percent year over year to $212,000 while transactions fell from 69 to 38. Lancaster fared tittle better, as prices plunged 34 percent to $190,000 in the 93534 ZIP code on sales of less than half last year's volume.

Middle-income neighborhoods closer to the urban core did somewhat better but also saw significant declines. West Covina's three ZIP codes saw price drops of 17 percent to 22 percent. In Lakewood, prices were down 12 percent to 23 percent

[ILLUSTRATION OMITTED]

At the top of the Los Angeles market, though, some neighborhoods still were holding their value despite a reduction in sales volume.

In the 91403 ZIP code in Sherman Oaks, prices swelled 42 percent in March, rising from $975,000 to $1,382,000. But only 12 homes were sold, a decline of 29 percent. Prices jumped 12 percent to hit $982,000 in the Westlake Village ZIP code of 91361, while sales slumped more than 50 percent.

In Malibu, prices were off 12 percent to $1.86 million, but that only reflected four home sales, compared with 11 a year ago.

[GRAPHIC OMITTED]

"We are still seeing big-ticket sales and prices are pretty stable. However the number of transactions is a little slower than this time last year," said Madison Hildebrand, a broker at Coldwell Banker in Malibu.

Last month, Hildebrand closed escrow on a home in Malibu for $3.7 million, with multiple offers on the property. "If the home is priced fairly, then it will move," he said.

A similar situation is seen in the market for high-end condos in affluent neighborhoods throughout the Westside, even as overall condominium sales declined 56 percent and prices slid 9 percent to $411,000, according to HomeData.

In Beverly Hills, for example, condo prices rose as much as 127 percent in one ZiP code, but the figures reflected sales of only four units throughout the entire city. One unit sold for $1.73 million.

"If you have 100 people cross the threshold, you should be able to sell to 5 to 6 percent of those in a balanced market," said Lynn Borland, president of Wilshire Realty, a brokerage that sells high-rise condos and town homes on the Westside, downtown and Hollywood. "Today you only get one sale for every 100 visitors."

Luxury condo buyers have the money to buy--they tend to pay mostly in cash and finance a small balance with small loans readily available--but are sitting back waiting for additional price drops, Borland said.

Rising foreclosures

Meanwhile, builders have slammed the brakes on new home construction in an effort to reduce supply.

Building permits issued for single-family units in L.A. County plummeted 62 percent in January compared with the same time last year, based on data from the California Building Industry Association. The number of permits fell from 788 to 302 year over year.

But the decline in housing starts was more than offset by the deluge of foreclosures flooding the market. Foreclosure activity statewide rocketed 131 percent in February, with 53,629 filings for default notices, auction sale notices and bank repossessions, according to market research firm RealtyTrac Inc.

In February, California registered the nation's second-highest foreclosure rate, with one in every 242 homes filing for foreclosure during the month.

And with more potential homebuyers sitting on the sidelines, the index score of unsold homes in Los Angeles doubled in February to 21.1 from 10.6 a year ago, according to the state Realtors association.

The index score is the ratio of the number of homes available for sale to the number of sales that took place.

A variable that could affect future sales and price fluctuations is action by the government to stimulate and prop up the market.

Last week, Democrats and Republicans appeared close to an agreement that would provide state and local governments with $10 billion in bond funds to refinance subprime mortgages.

And government-sponsored agencies Fannie Mae and Freddie Mac already have been temporarily allowed to purchase home loans as high as $729,000, which will permit mortgage lenders to sell jumbo mortgages and initiate more loans.

The actions should provide some boost to the market, but no one knows how much.

By MITCH DEACON Staff Reporter
Market Highlights

MOST EXPENSIVE HOMES

                            3/08     3/08     3/07
                    ZIP     Home    Median   Median
Community           Code    Sales    Price    Price   Change

Beverly Hills       90210     7     $4,300   $3,905     10%
L.A./Bel-Air        90077     3      2,350    1,455     62%
L.A./Windsor Sqr.   90020     3      2,300    1,592     44%
Malibu              90265     4      1,862    2,107    -12%
Manhattan Beach     90266    12      1,858    1,600     16%
Marina del Rey      90292     4      1,650    1,528     08%
Pacific Palisades   90272    11      1,640    1,535     07%
L.A./West Hywd.     90069     7      1,560    1,400     11%
Hermosa Beach       90254    11      1,449    1,296     12%
L.A./Brentwood      90049     4      1,428    1,650    -13%

HOME PRICE LOSSES

Long Beach          90813     8       $352     $638    -45%
La Puente           91746     8        329      560    -41%
Northridge          91324     8        446      714    -38%
Belmont Shore       90803    13        644    1,025    -37%
L.A./West Adams     90018     6        402      636    -37%
Palmdale            93550    38        212      335    -37%
Paramount           90723     8        348      548    -36%
Chatsworth          91311    15        500      780    -36%
San Gabriel         91775     5        475      739    -36%
Inglewood           90303     4        360      560    -36%

MOST EXPENSIVE CONDOS

Santa Monica        90402     3       $960     $654     47%
Santa Monica        90403     5        810      805      1%
Pasadena            91105     3        730      698      5%
Redondo Beach       90277     5        700      780    -10%
Marina del Rey      90292     4        676      732     -8%
Santa Monica        90404     5        673      685     -2%
L.A./Westwood       90024     4        670      540     24%
L.A./Brentwood      90049     8        670      687     -2%
Hermosa Beach       90254     3        655      862    -24%
L.A./Playa Vista    90094     7        646      N/A     N/A

CONDO PRICE LOSSES

Paramount           90723     4        218      360    -39%
Panorama City       91402     4        195      320    -39%
Santa Clarita       91350     7        250      410    -39%
Long Beach          90804    10        360      570    -37%
Hawthorne           90250     5        420      634    -34%
North Hywd.         91601     6        318      480    -34%
Glendale            91205     5        265      388    -32%
Reseda              91335     8        277      404    -31%
L.A./Palms          90034    12        418      602    -31%
Glendale            91206     4        310      440    -30%

Sale price in thousands

Source: HomeData Corp., www.homodata.com

March 2008 New and Existing Home Sales in L.A. County

                                                 Median Price
              ZIP       Home Sales    Percent     (thousands)   Percent
Community     Code     2008    2007    Change    2008    2007    Change

Los Angeles           2,532   5,286     -52%     $465    $560     -17%
 County
Agoura        91301     8       21      -62%      655     737     -11%
 Hills
Alhambra      91801     10      14      -29%      552     573     -04%
Alhambra      91803     8       16      -50%      442     542     -18%
Altadena      91001     24      31      -23%      588     680     -14%
Arcadia       91006     20      22      -09%      592     908     -35%
Arcadia       91007     9       20      -55%      745     876     -15%
Artesia       90701     3       5       -40%      450     510     -12%
Azusa         91702     16      29      -45%      350     445     -21%
Baldwin       91706     15      35      -57%      368     460     -20%
 Park
Bell/Bell     90201     7       21      -67%      480     620     -23%
 Gardens
Bellflower    90706     15      37      -59%      417     540     -23%
Beverly       90210     7       6        17%    4,300   3,905      10%
 Hills
Beverly       90211     2       2         0%    1,412   1,962     -28%
 Hills
Beverly       90212     1       3       -67%    1,650   1,860     -11%
 Hills
Burbank       91501     5       9       -44%      750     840     -11%
Burbank       91502     1       0        N/A      615     N/A      N/A
Burbank       91504     8       12      -33%      674     650       4%
Burbank       91505     14      27      -48%      573     600      -5%
Burbank       91506     5       13      -62%      500     625     -20%
Calabasas     91302     7       16      -56%      845   1,238     -32%
Canoga Park   91303     4       5       -20%      818     510      60%
Canoga Park   91304     13      27      -52%      502     610     -18%
Canyon        91351     11      27      -59%      378     500     -24%
 Country
Canyon        91387     22      28      -21%      466     564     -17%
 Country
Carson        90745     14      20      -30%      458     500      -8%
Carson        90746     7       20      -65%      439     544     -19%
Castaic       91384     13      25      -48%      400     570     -30%
Cerritos      90703     19      22      -14%      580     700     -17%
Chatsworth    91311     15      24      -38%      500     780     -36%
City of       90040     2       6       -67%      346     460     -25%
 Commerce
Claremont     91711     22      29      -24%      702     625      12%
Compton       90220     7       24      -71%      350     415     -16%
Compton       90221     7       36      -81%      330     432     -24%
Compton       90222     6       21      -71%      360     400     -10%
Covina        91722     7       24      -71%      357     468     -24%
Covina        91723     7       15      -53%      400     500     -20%
Covina        91724     9       12      -25%      475     510      -7%
Culver City   90230     9       23      -61%      500     685     -27%
Culver City   90232     3       6       -50%      615     862     -29%
Diamond Bar   91765     16      30      -47%      530     570      -7%
Downey        90240     7       31      -77%      520     685     -24%
Downey        90241     18      15       20%      500     680     -26%
Downey        90242     14      25      -44%      462     550     -16%
Duarte--      91010     12      33      -64%      422     475     -11%
 Bradbury
El Monte      91731     3       3         0%      330     450     -27%
El Monte      91732     13      23      -43%      460     478      -4%
El Mont--     91733     9       11      -18%      384     540     -29%
 South El
 Monte
El Segundo    90245     3       12      -75%      830     894      -7%
Encino        91316     9       18      -50%      510     660     -23%
Encino        91436     4       13      -69%    1,240   1,260      -2%
Gardena       90247     3       17      -82%      586     570       3%
Gardena       90249     6       18      -67%      460     538     -14%
Glendale      91201     5       4        25%      600     710     -15%
Glendale      91202     5       12      -58%      620     818     -24%
Glendale      91203     1       4       -75%      600     534      12%
Glendale      91205     3       12      -75%      525     615     -15%
Glendale      91206     2       17      -88%      744     775      -4%
Glendale      91207     3       10      -70%      865     808       7%
Glendale      91208     8       18      -56%      732     952     -23%
Glendale--    91214     14      25      -44%      612     740     -17%
 La Cres-
 centa
Glendora      91740     6       8       -25%      436     492     -11%
Glendora      91741     4       17      -76%      457     610     -25%
Granada       91344     22      44      -50%      455     635     -28%
 Hills
Hacienda      91745     11      39      -72%      530     595     -11%
 Heights
Harbor City   90710     1       10      -90%      462     602     -23%
Hawaiian      90716     2       2         0%      392     391       0%
 Gardens
Hawthorne     90250     30      42      -29%      462     557     -17%
Hermosa       90254     11      24      -54%    1,449   1,296      12%
 Beach
Huntington    90255     3       29      -90%      450     515     -13%
 Park
Inglewood     90301     3       12      -75%      365     488     -25%
Inglewood     90302     5       5         0%      480     400      20%
Inglewood     90303     4       11      -64%      360     560     -36%
Inglewood     90305     6       7       -14%      465     560     -17%
L.A.          90011     5       40      -88%      363     490     -26%
L.A.          90062     3       17      -82%      482     520      -7%
L.A./Bald-    90008     6       10      -40%      508     541      -6%
 win Hills
L.A./Bald-    90056     1       7       -86%    1,200     923      30%
 win Hills
L.A./Bel-     90077     3       6       -50%    2,350   1,455      62%
 Air
L.A./Brent-   90049     4       15      -73%    1,428   1,650     -13%
 wood
L.A./         90033     5       11      -55%      375     558     -33%
 Brooklyn
 Heights
L.A./Ches-    90047     12      34      -65%      370     485     -24%
 terfield
 Square
L.A./City     90029     3       9       -67%      525     760     -31%
 College
L.A./City     90063     8       13      -38%      385     490     -21%
 Terrace
L.A./         90016     13      21      -38%      475     565     -16%
 Crenshaw
 District
L.A./Eagle    90041     8       13      -38%      620     630      -2%
 Rock
L.A./East     90022     7       15      -53%      350     470     -26%
 L.A.
L.A./East     90023     3       13      -77%      530     485       9%
 L.A.
L.A./Echo     90026     10      22      -55%      650     696      -7%
 Park
L.A./El       90032     15      23      -35%      335     505     -34%
 Sereno
L.A./Expo-    90037     11      22      -50%      468     535     -13%
 sition
 Park
L.A./Han-     90004     9       12      -25%      920     953      -3%
 cock Park
L.A./High-    90042     13      28      -54%      438     500     -12%
 land Park
L.A./Holly-   90068     10      27      -63%    1,097   1,142      -4%
 wood Hills
L.A./Korea-   90006     6       7       -14%      706     790     -11%
 town
L.A./Laurel   90046     17      12       42%      905     968      -7%
 Canyon
L.A./         90031     3       13      -77%      459     490      -6%
 Lincoln
 Heights
L.A./Los      90027     10      8        25%    1,194   1,365     -13%
 Feliz
L.A./Mar      90066     16      23      -30%      721     811     -11%
 Vista
L.A./Mid-     90019     9       30      -70%      565     828     -32%
 City
L.A./Mid-     90036     6       10      -40%    1,069   1,160      -8%
 Wilshire
L.A./Mt.      90065     14      32      -56%      442     580     -24%
 Washington
L.A./Palms    90034     9       14      -36%      755     798      -5%
L.A./Playa    90094     2       0        N/A    1,376     N/A      N/A
 Vista
L.A./Rancho   90064     8       15      -47%      865     820       5%
 Park
L.A./Silver   90039     7       22      -68%      470     705     -33%
 Lake
L.A./South    90007     3       5       -40%      450     565     -20%
 Figueroa
L.A./South    90001     5       24      -79%      450     444       1%
 L.A.
L.A./South    90003     8       47      -83%      468     485      -4%
 L.A.
L.A./South    90044     23      42      -45%      390     492     -21%
 L.A.
L.A./South    90061     6       19      -68%      392     435     -10%
 L.A.
L.A./South    90015     2       1       100%    1,998   1,465      36%
 Park
L.A./South    90035     7       8       -13%      749   1,042     -28%
 Robertson
L.A./Watts    90002     13      34      -62%      395     425      -7%
L.A./West     90018     6       19      -68%      402     636     -37%
 Adams
L.A./West     90038     1       1         0%      710     799     -11%
 Hollywood
L.A./West     90048     8       14      -43%      900   1,150     -22%
 Hollywood
L.A./West     90069     7       7         0%    1,560   1,400      11%
 Hollywood
L.A./West     90025     3       11      -73%    1,099   1,038       6%
 L.A.
L.A./West-    90045     17      20      -15%      805     760       6%
 chester
L.A./West-    90057     1       2       -50%      550   1,792     -69%
 lake
L.A./West-    90024     4       6       -33%    1,025   1,198     -14%
 wood
L.A./Wil-     90059     13      22      -41%      395     448     -12%
 lowbrook
L.A./Wind-    90043     13      35      -63%      435     625     -30%
 sor Hills
L.A./Wind-    90020     3       4       -25%    2,300   1,592      44%
 sor Square
La Canada     91011     2       14      -86%      950   1,598     -41%
 Flintridge
La Habra      90631     27      28       -4%      460     564     -18%
La Mirada     90638     17      38      -55%      435     540     -19%
La Puente     91744     20      48      -58%      352     466     -24%
La Puente     91746     8       10      -20%      329     560     -41%
La Verne      91750     8       19      -58%      465     560     -17%
Lake Hughes   93532     2       2         0%      242     254      -5%
Lakewood      90712     17      19      -11%      421     515     -18%
Lakewood      90713     13      31      -58%      455     515     -12%
Lakewood      90715     4       9       -56%      372     480     -23%
Lancaster     93534     16      34      -53%      190     290     -34%
Lancaster     93535     49      82      -40%      225     320     -30%
Lancaster     93536     53      92      -42%      294     397     -26%
Lawndale      90260     8       18      -56%      514     568     -10%
Littlerock    93543     5       8       -38%      279     356     -22%
Lomita        90717     9       14      -36%      499     690     -28%
Long Beach    90802     1       4       -75%      389     524     -26%
Long Beach    90804     10      12      -17%      478     572     -16%
Long Beach    90805     16      38      -58%      386     475     -19%
Long Beach    90806     9       23      -61%      410     500     -18%
Long Beach    90807     17      30      -43%      490     554     -12%
Long Beach    90808     25      33      -24%      499     600     -17%
Long Beach    90810     7       13      -46%      400     452     -12%
Long Beach    90813     8       11      -27%      352     638     -45%
Long Beach    90814     5       15      -67%      600     750     -20%
Long Beach    90815     17      24      -29%      490     604     -19%
Long Beach-   90803     13      22      -41%      644   1,025     -37%
 -Belmont
 Shore
Lynwood       90262     4       17      -76%      428     500     -14%
Malibu        90265     4       11      -64%    1,862   2,107     -12%
Manhattan     90266     12      47      -74%    1,858   1,600      16%
 Beach
Marina del    90292     4       2       100%    1,650   1,528       8%
  Rey
Mission       91345     4       9       -56%      390     520     -25%
 Hills
Monrovia      91016     12      31      -61%      618     565       9%
Montebello    90640     8       16      -50%      455     495      -8%
Monterey      91754     12      21      -43%      490     563     -13%
 Park
Monterey      91755     5       11      -55%      600     575       4%
 Park
Montrose      91020     1       2       -50%      565     452      25%
Newhall       91321     17      12       42%      470     550     -15%
North Hills   91343     17      18       -6%      435     558     -22%
North Hol-    91601     7       10      -30%      650     620       5%
 ly wood
North Hol-    91602     4       9       -56%      766     980     -22%
 lywood
North Hol-    91605     9       18      -50%      420     530     -21%
 lywood
North Hol-    91606     7       17      -59%      425     580     -27%
 lywood
Northridge    91324     8       18      -56%      446     714     -38%
Northridge    91325     7       14      -50%      560     698     -20%
Northridge    91326     28      32      -13%      566     772     -27%
Norwalk       90650     33      59      -44%      345     483     -29%
Pacific       90272     11      13      -15%    1,640   1,535       7%
 Palisades
Pacoima       91331     7       48      -85%      369     506     -27%
Palmdale      93550     38      69      -45%      212     335     -37%
Palmdale      93551     46      78      -41%      320     438     -27%
Palmdale      93552     33      56      -41%      280     388     -28%
Palmdale      93591     4       4         0%      204     282     -28%
Palos         90274     10      17      -41%    1,220   1,250      -2%
 Verdes
 Estates
Panorama      91402     9       22      -59%      400     526     -24%
 City
Paramount     90723     8       14      -43%      348     548     -36%
Pasadena      91101     1       0        N/A      440     N/A      N/A
Pasadena      91103     4       16      -75%      620     789     -21%
Pasadena      91104     14      26      -46%      584     720     -19%
Pasadena      91105     2       8       -75%    1,565   1,465       7%
Pasadena      91106     3       11      -73%      790     775       2%
Pasadena      91107     11      27      -59%      649     820     -21%
Pearblossom   93553     1       1         0%      190     460     -59%
Phillips      91766     16      46      -65%      334     398     -16%
 Ranch
Pico Rivera   90660     15      25      -40%      370     491     -25%
Playa del     90293     3       4       -25%      874     998     -12%
 Rey
Pomona        91767     16      40      -60%      380     425     -11%
Pomona        91768     8       17      -53%      290     415     -30%
Rancho        90275     18      29      -38%    1,038     995       4%
 Palos
 Verdes
Redondo       90277     10      12      -17%      912   1,163     -22%
 Beach
Redondo       90278     7       36      -81%      705     792     -11%
 Beach
Reseda        91335     25      43      -42%      411     550     -25%
Rosemead      91770     18      29      -38%      470     495      -5%
Rowland       91748     9       30      -70%      480     584     -18%
 Heights
San Dimas     91773     10      32      -69%      404     554     -27%
San Fernan-   91340     2       16      -88%      458     518     -12%
 do
San Gabriel   91775     5       22      -77%      475     739     -36%
San Gabriel   91776     11      12       -8%      495     492       1%
San Marino    91108     6       14      -57%    1,025   1,202     -15%
San Pedro     90731     13      26      -50%      438     542     -19%
San Pedro     90732     5       12      -58%      620     720     -14%
Santa Cla-    91350     20      53      -62%      538     532       1%
 rita
Santa Cla-    91390     9       20      -55%      542     618     -12%
 rita
Santa Fe      90670     4       6       -33%      435     508     -14%
 Springs
Santa         90402     2       4       -50%    2,342   2,118      11%
 Monica
Santa         90403     2       3       -33%    2,104   1,400      50%
 Monica
Santa         90404     1       2       -50%      830   1,092     -24%
 Monica
Santa         90405     5       10      -50%    1,067   1,268     -16%
 Moni
Sherman       91403     12      17      -29%    1,382     975      42%
 Oaks
Sherman       91423     4       20      -80%      858   1,018     -16%
 Oaks
Sierra        91024     3       15      -80%    1,030     787      31%
 Madre
Signal Hill   90755     2       5       -60%      382     785     -51%
South Gate    90280     19      51      -63%      417     479     -13%
South Pasa-   91030     5       11      -55%      766     737       4%
 dena
Stevenson     91381     10      25      -60%      692     735      -6%
 Ranch
Studio City   91604     15      19      -21%      880   1,210     -27%
Sun Valley    91352     7       18      -61%      379     540     -30%
Sunland       91040     6       25      -76%      470     515      -9%
Sylmar        91342     25      55      -55%      412     549     -25%
Tarzana       91356     9       16      -44%      963   1,102     -13%
Temple City   91780     9       19      -53%      563     611      -8%
Topanga       90290     3       6       -50%      800   1,005     -20%
Torrance      90501     4       24      -83%      568     631     -10%
Torrance      90502     6       6         0%      515     560      -8%
Torrance      90503     7       22      -68%      760     807      -6%
Torrance      90504     7       11      -36%      510     600     -15%
Torrance      90505     13      23      -43%      695     775     -10%
Tujunga       91042     12      26      -54%      520     570      -9%
Valencia      91354     23      39      -41%      519     609     -15%
Valencia      91355     14      29      -52%      490     538      -9%
Valley Vil-   91607     9       20      -55%      707     825     -14%
 lage
Van Nuys      91401     11      14      -21%      745     614      21%
Van Nuys      91405     8       17      -53%      428     541     -21%
Van Nuys      91406     25      36      -31%      389     549     -29%
Van Nuys      91411     5       14      -64%      521     561      -7%
Venice        90291     3       11      -73%    1,228     880      40%
Walnut        91789     13      28      -54%      523     636     -18%
West Covina   91790     11      32      -66%      415     500     -17%
West Covina   91791     12      15      -20%      462     590     -22%
West Covina   91792     14      15       -7%      382     480     -20%
West Hills    91307     8       31      -74%      542     600     -10%
Westlake      91361     10      21      -52%      982     880      12%
 Village
Westlake      91362     13      45      -71%      645     675      -4%
 Village
Whittier      90601     6       30      -80%      502     580     -13%
Whittier      90602     8       12      -33%      468     442       6%
Whittier      90603     15      19      -21%      499     555     -10%
Whittier      90604     13      21      -38%      410     485     -15%
Whittier      90605     6       20      -70%      395     522     -24%
Whittier      90606     8       13      -38%      378     485     -22%
Wilmington    90744     8       15      -47%      380     450     -16%
Winnetka      91306     11      34      -68%      374     559     -33%
Woodland      91364     13      50      -74%      624     746     -16%
 Hills
Woodland      91367     9       35      -74%      637     810     -21%
 Hills

Condo Sales

                                                Median Price
              ZIP     Condo Sales    Percent    (thousands)    Percent
Community     Code    2008    2007    Change    2008    2007    Change

Los Angeles            677   1,538     -56%     $411     450      -9%
 County
Agoura        91301     6      6         0%      398     364       9%
 Hills
Alhambra      91801     5      13      -62%      475     423      12%
Alhambra      91803     0      0        N/A      N/A     N/A      N/A
Altadena      91001     1      1         0%      378     455     -17%
Arcadia       91006     4      5       -20%      552     643     -14%
Arcadia       91007     3      9       -67%      490     471       4%
Artesia       90701     1      1         0%      400     360      11%
Azusa         91702     2      9       -78%      228     320     -29%
Baldwin       91706     2      10      -80%      238     345     -31%
 Park
Bell/Bell     90201     0      3        N/A      N/A     296      N/A
 Gardens
Bellflower    90706     1      1         0%      375     375       0%
Beverly       90210     2      3       -33%    1,060     780      36%
 Hills
Beverly       90211     1      1         0%      885     850       4%
 Hills
Beverly       90212     1      2       -50%    1,728     762     127%
 Hills
Burbank       91501     4      19      -79%      588     640      -8%
Burbank       91502     3      0        N/A      560     N/A      N/A
Burbank       91504     3      3         0%      478     435      10%
Burbank       91505     2      1       100%      348     406     -14%
Burbank       91506     1      4       -75%      295     442     -33%
Calabasas     91302     1      5       -80%      463     445       4%
Canoga Park   91303     1      6       -83%      248     362     -31%
Canoga Park   91304     3      7       -57%      285     340     -16%
Canyon        91351     5      6       -17%      237     325     -27%
 Country
Canyon        91387     6      13      -54%      268     310     -14%
 Country
Carson        90745     2      7       -71%      231     393     -41%
Carson        90746     0      0        N/A      N/A     N/A      N/A
Castaic       91384     0      0        N/A      N/A     N/A      N/A
Cerritos      90703     0      2        N/A      N/A     369      N/A
Chatsworth    91311     3      10      -70%      350     420     -17%
City of       90040     0      0        N/A      N/A     N/A      N/A
 Commerce
Claremont     91711     0      1        N/A      N/A     530      N/A
Compton       90220     0      0        N/A      N/A     N/A      N/A
Compton       90221     0      0        N/A      N/A     N/A      N/A
Compton       90222     0      0        N/A      N/A     N/A      N/A
Covina        91722     1      2       -50%      529     452      17%
Covina        91723     1      3       -67%      600     537      12%
Covina        91724     1      2       -50%      346     366      -5%
Culver City   90230     6      12      -50%      374     420     -11%
Culver City   90232     0      2        N/A      N/A     484      N/A
Diamond Bar   91765     10     21      -52%      290     382     -24%
Downey        90240     1      1         0%      400     325      23%
Downey        90241     1      3       -67%      445     385      16%
Downey        90242     1      1         0%      290     475     -39%
Duarte--      91010     0      0        N/A      N/A     N/A      N/A
 Bradbury
El Monte      91731     0      2        N/A      N/A     362      N/A
El Monte      91732     2      3       -33%      388     365       6%
El Mont--     91733     0      2        N/A      N/A     426      N/A
 South El
 Monte
El Segundo    90245     7      7         0%      529     625     -15%
Encino        91316     8      10      -20%      292     386     -24%
Encino        91436     2      1       100%      590     852     -31%
Gardena       90247     3      2        50%      345     429     -20%
Gardena       90249     0      0        N/A      N/A     N/A      N/A
Glendale      91201     1      3       -67%      353     643     -45%
Glendale      91202     1      9       -89%      530     475      12%
Glendale      91203     1      6       -83%      413     502     -18%
Glendale      91205     5      8       -38%      265     388     -32%
Glendale      91206     4      17      -76%      310     440     -30%
Glendale      91207     3      4       -25%      348     356     -20%
Glendale      91208     2      2         0%      202     464     -56%
Glendale--    91214     1      5       -80%      450     535     -16%
 La Cres-
 centa
Glendora      91740     1      1         0%      330     360      -8%
Glendora      91741     0      0        N/A      N/A     N/A      N/A
Granada       91344     3      3         0%      352     346       2%
 Hills
Hacienda      91745     3      4       -25%      375     342      10%
 Heights
Harbor City   90710     1      12      -92%      300     455     -34%
Hawaiian      90716     2      2         0%      180     332     -46%
 Gardens
Hawthorne     90250     5      9       -44%      420     634     -34%
Hermosa       90254     3      5       -40%      655     862     -24%
 Beach
Huntington    90255     1      4       -75%      331     370     -11%
 Park
Inglewood     90301     2      8       -75%      270     349     -23%
Inglewood     90302     4      5       -20%      421     303      39%
Inglewood     90303     0      2        N/A      N/A     732      N/A
Inglewood     90305     1      0        N/A      289     N/A      N/A
L.A.          90011     1      0        N/A      600     N/A      N/A
L.A.          90062     0      1        N/A      N/A     516      N/A
L.A./Bald-    90008     1      1         0%      655     250     162%
 win Hills
L.A./Bald-    90056     0      0        N/A      N/A     N/A      N/A
 win Hills
L.A./Bel-     90077     1      0        N/A    1,115     N/A      N/A
 Air
L.A./Brent-   90049     8      28      -71%      670     687      -2%
 wood
L.A./         90033     0      0        N/A      N/A     N/A      N/A
 Brooklyn
 Heights
L.A./Ches-    90047     0      0        N/A      N/A     N/A      N/A
 terfield
 Square
L.A./City     90029     0      0        N/A      N/A     N/A      N/A
 College
L.A./City     90063     0      0        N/A      N/A     N/A      N/A
 Terrace
L.A./         90016     1      1         0%      500     603     -17%
 Crenshaw
 District
L.A./Eagle    90041     0      1        N/A      N/A     499      N/A
 Rock
L.A./East     90022     0      1        N/A      N/A     330      N/A
 L.A.
L.A./East     90023     0      0        N/A      N/A     N/A      N/A
 L.A.
L.A./Echo     90026     1      2       -50%      475     694     -32%
 Park
L.A./El       90032     0      1        N/A      N/A     350      N/A
 Sereno
L.A./Expo-    90037     0      2        N/A      N/A     557      N/A
 sition
 Park
L.A./Han-     90004     5      10      -50%      540     650     -17%
 cock Park
L.A./High-    90042     4      13      -69%      312     419     -26%
 land Park
L.A./Holly-   90068     5      7       -29%      555     430      29%
 wood Hills
L.A./Korea-   90006     1      11      -91%      440     591     -26%
 town
L.A./Laurel   90046     6      17      -65%      608     479      27%
 Canyon
L.A./         90031     0      1        N/A      N/A      75      N/A
 Lincoln
 Heights
L.A./Los      90027     0      6        N/A      N/A     470      N/A
 Feliz
L.A./Mar      90066     5      10      -50%      599     566       6%
 Vista
L.A./Mid-     90019     2      0        N/A      372     N/A      N/A
 City
L.A./Mid-     90036     0      1        N/A      N/A     371      N/A
 Wilshire
L.A./Mt.      90065     0      0        N/A      N/A     N/A      N/A
 Washington
L.A./Palms    90034     12     6       100%      418     602     -31%
L.A./Playa    90094     7      0        N/A      646     N/A      N/A
 Vista
L.A./Rancho   90064     2      3       -33%      800     619      29%
 Park
L.A./Silver   90039     1      0        N/A      145     N/A      N/A
 Lake
L.A./South    90007     0      1        N/A      N/A   1,200      N/A
 Figueroa
L.A./South    90001     0      0        N/A      N/A     N/A      N/A
 L.A.
L.A./South    90003     0      0        N/A      N/A     N/A      N/A
 L.A.
L.A./South    90044     0      1        N/A      N/A     650      N/A
 L.A.
L.A./South    90061     0      0        N/A      N/A     N/A      N/A
 L.A.
L.A./South    90015     25     8       213%      450     575     -22%
 Park
L.A./South    90035     2      3       -33%      600     780     -23%
 Robertson
L.A./Watts    90002     0      0        N/A      N/A     N/A      N/A
L.A./West     90018     1      0        N/A      184     N/A      N/A
 Adams
L.A./West     90038     2      0        N/A      614     N/A      N/A
 Hollywood
L.A./West     90048     2      10      -80%      875     825       6%
 Hollywood
L.A./West     90069     18     28      -36%      514     611     -16%
 Hollywood
L.A./West     90025     16     28      -43%      602     754     -20%
 L.A.
L.A./West-    90045     8      6        33%      478     425      12%
 chester
L.A./West-    90057     1      3       -67%      525     409      28%
 lake
L.A./West-    90024     4      31      -87%      670     540      24%
 wood
L.A./Wil-     90059     1      0        N/A      540     N/A      N/A
 lowbrook
L.A./Wind-    90043     0      0        N/A      N/A     N/A      N/A
 sor Hills
L.A./Wind-    90020     4      11      -64%      363     428     -15%
 sor Square
La Canada     91011     0      0        N/A      N/A     N/A      N/A
 Flintridge
La Habra      90631     6      9       -33%      284     320     -11%
La Mirada     90638     0      3        N/A      N/A     330      N/A
La Puente     91744     1      0        N/A      480     N/A      N/A
La Puente     91746     0      0        N/A      N/A     N/A      N/A
La Verne      91750     0      0        N/A      N/A     N/A      N/A
Lake Hughes   93532     0      0        N/A      N/A     N/A      N/A
Lakewood      90712     0      0        N/A      N/A     N/A      N/A
Lakewood      90713     0      0        N/A      N/A     N/A      N/A
Lakewood      90715     2      1       100%      430     367      17%
Lancaster     93534     2      0        N/A      146     N/A      N/A
Lancaster     93535     1      3       -67%       88     193     -54%
Lancaster     93536     0      1        N/A      N/A     237      N/A
Lawndale      90260     3      4       -25%      440     325      35%
Littlerock    93543     0      0        N/A      N/A     N/A      N/A
Lomita        90717     1      8       -88%      430     460      -7%
Long Beach    90802     27     42      -36%      385     381       1%
Long Beach    90804     10     12      -17%      360     570     -37%
Long Beach    90805     1      3       -67%      570     225     153%
Long Beach    90806     0      1        N/A      N/A     860      N/A
Long Beach    90807     5      10      -50%      250     325     -23%
Long Beach    90808     0      0        N/A      N/A     N/A      N/A
Long Beach    90810     0      3        N/A      N/A     245      N/A
Long Beach    90813     2      11      -82%      510     439      16%
Long Beach    90814     4      16      -75%      332     350      -5%
Long Beach    90815     2      5       -60%      296     370     -20%
Long Beach-   90803     4      9       -56%      444     392      13%
 -Belmont
 Shore
Lynwood       90262     0      0        N/A      N/A     N/A      N/A
Malibu        90265     3      3         0%      640     835     -23%
Manhattan     90266     0      0        N/A      N/A     N/A      N/A
 Beach
Marina del    90292     4      16      -75%      676     732      -8%
  Rey
Mission       91345     0      1        N/A      N/A     408      N/A
 Hills
Monrovia      91016     1      6       -83%      380     412      -8%
Montebello    90640     2      4       -50%      202     341     -41%
Monterey      91754     2      3       -33%      359     382      -6%
 Park

Monterey      91755     4      5       -20%      560     775     -28%
 Park
Montrose      91020     0      4        N/A      N/A     598      N/A
Newhall       91321     0      4        N/A      N/A     270      N/A
North Hills   91343     5      15      -67%      272     380     -28%
North Hol-    91601     6      5        20%      318     480     -34%
 ly wood
North Hol-    91602     2      19      -89%      424     500     -15%
 lywood
North Hol-    91605     0      2        N/A      N/A     440      N/A
 lywood
North Hol-    91606     5      4        25%      400     320      25%
 lywood
Northridge    91324     2      5       -60%      364     409     -11%
Northridge    91325     1      7       -86%      560     455      23%
Northridge    91326     0      5        N/A      N/A     520      N/A
Norwalk       90650     0      1        N/A      N/A     183      N/A
Pacific       90272     1      4       -75%      747     814      -8%
 Palisades
Pacoima       91331     3      9       -67%      209     312     -33%
Palmdale      93550     0      3        N/A      N/A     190      N/A
Palmdale      93551     1      1         0%      254     305     -17%
Palmdale      93552     0      1        N/A      N/A     273      N/A
Palmdale      93591     0      0        N/A      N/A     N/A      N/A
Palos         90274     1      2       -50%      745     328     127%
 Verdes
 Estates
Panorama      91402     4      15      -73%      195     320     -39%
 City
Paramount     90723     4      9       -56%      218     360     -39%
Pasadena      91101     9      0        N/A      405     N/A      N/A
Pasadena      91103     1      2       -50%      794     396     101%
Pasadena      91104     2      2         0%      264     415     -36%
Pasadena      91105     3      4       -25%      730     698       5%
Pasadena      91106     10     18      -44%      426     422       1%
Pasadena      91107     1      6       -83%      350     363      -4%
Pearblossom   93553     0      0        N/A      N/A     NIA      N/A
Phillips      91766     0      3        N/A      N/A     355      N/A
 Ranch
Pico Rivera   90660     3      6       -50%      269     400     -33%
Playa del     90293     3      13      -77%      370     515     -28%
 Rey
Pomona        91767     3      3         0%      221     282     -22%
Pomona        91768     0      1        N/A      N/A     299      N/A
Rancho        90275     2      5       -60%      442     450      -2%
 Palos
 Verdes
Redondo       90277     5      16      -69%      700     780     -10%
 Beach
Redondo       90278     10     41      -76%      590     679     -13%
 Beach
Reseda        91335     8      14      -43%      277     404     -31%
Rosemead      91770     0      4        N/A      N/A     385      N/A
Rowland       91748     4      4         0%      316     238      33%
 Heights
San Dimas     91773     0      0        N/A      N/A     N/A      N/A
San Fernan-   91340     0      1        N/A      N/A     370      N/A
 do
San Gabriel   91775     1      1         0%      556     467      19%
San Gabriel   91776     2      8       -75%      290     467     -38%
San Marino    91108     0      0        N/A      N/A     N/A      N/A
San Pedro     90731     3      32      -91%      375     468     -20%
San Pedro     90732     1      13      -92%      279     389     -28%
Santa Cla-    91350     7      7         0%      250     410     -39%
 rita
Santa Cla-    91390     1      3       -67%      355     385      -8%
 rita
Santa Fe      90670     0      0        N/A      N/A     N/A      N/A
 Springs
Santa         90402     3      2        50%      960     654      47%
 Monica
Santa         90403     5      17      -71%      810     805       1%
 Monica
Santa         90404     5      13      -62%      673     685      -2%
 Monica
Santa         90405     1      11      -91%      575     735     -22%
 Moni
Sherman       91403     5      9       -44%      428     475     -10%
 Oaks
Sherman       91423     7      14      -50%      453     503     -10%
 Oaks
Sierra        91024     2      2         0%      640     411      56%
 Madre
Signal Hill   90755     3      5       -40%      305     330      -8%
South Gate    90280     1      0        N/A      460     N/A      N/A
South Pasa-   91030     1      4       -75%      370     668     -45%
 dena
Stevenson     91381     1      5       -80%      325     455     -29%
 Ranch
Studio City   91604     4      22      -82%      442     580     -24%
Sun Valley    91352     1      7       -86%      380     365       4%
Sunland       91040     0      2        N/A      N/A     401      N/A
Sylmar        91342     10     14      -29%      345     399     -14%
Tarzana       91356     4      15      -73%      328     350      -6%
Temple City   91780     2      4       -50%      446     450      -1%
Topanga       90290     0      1        N/A      N/A     710      N/A
Torrance      90501     15     19      -21%      535     552      -3%
Torrance      90502     8      14      -43%      269     329     -18%
Torrance      90503     8      17      -53%      456     530     -14%
Torrance      90504     1      1         0%      370     450     -18%
Torrance      90505     3      2        50%      355     457     -22%
Tujunga       91042     0      7        N/A      N/A     376      N/A
Valencia      91354     4      10      -60%      392     450     -13%
Valencia      91355     12     11        9%      292     385     -24%
Valley Vil-   91607     6      10      -40%      388     505     -23%
 lage
Van Nuys      91401     5      19      -74%      435     340      28%
Van Nuys      91405     8      15      -47%      406     390       4%
Van Nuys      91406     2      14      -86%      250     298     -16%
Van Nuys      91411     1      5       -80%      429     348      23%
Venice        90291     0      8        N/A      N/A     885      N/A
Walnut        91789     1      2       -50%      230     280     -18%
West Covina   91790     0      1        N/A      N/A     375      N/A
West Covina   91791     0      0        N/A      N/A     N/A      N/A
West Covina   91792     0      2        N/A      N/A     358      N/A
West Hills    91307     0      5        N/A      N/A     420      N/A
Westlake      91361     2      1       100%      480     670     -28%
 Village
Westlake      91362     0      2        N/A      N/A     337      N/A
 Village
Whittier      90601     3      4       -25%      272     368     -26%
Whittier      90602     0      2        N/A      N/A     692      N/A
Whittier      90603     0      0        N/A      N/A     N/A      N/A
Whittier      90604     0      2        N/A      N/A     345      N/A
Whittier      90605     0      0        N/A      N/A     N/A      N/A
Whittier      90606     0      0        N/A      N/A     N/A      N/A
Wilmington    90744     0      0        N/A      N/A     N/A      N/A
Winnetka      91306     3      19      -84%      190     305     -38%
Woodland      91364     0      2        N/A      N/A     366      N/A
 Hills
Woodland      91367     9      21      -57%      370     390      -5%
 Hills
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Comment:March Home sales slow, Median price drops.
Author:Deacon, Mitch
Publication:Los Angeles Business Journal
Article Type:Statistical table
Geographic Code:1U9CA
Date:Apr 7, 2008
Words:6588
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