Single Family Residential Home, Townhomes and Condominiums.
Statistics as of March 17, 2008 compiled from MRMLS South Bay Association of Realtors®.

Manhattan Beach

© Brinette Holdren - visit sellingbeachhomes for more great content. 

Hermosa Beach

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North Redondo Beach

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South Redondo Beach

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El Segundo

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Summary:In years past, February has been an important month for real estate sales. It has always been a great time to get your home marketed and usually equates to quick sales. With this year’s market, we are seeing a slower turnaround in the homes that are for sale. For example, the number of homes that has sold in past February months has averaged much higher and the pricing much closer to the asking price. What I’m seeing as your professional in the streets is a return to conservative investing on the part of buyers. They are no longer rushing out to purchase a home for fear that someone else will buy it. This ultimately is a good thing for everyone. If buyers make really thoughtful choices about what they want and they are honest with themselves about their financial situation and they are looking to be in a home for 5+ years, then they are more likely to be happy in their decision and less likely to second guess their decision. Everything goes in cycles. Investment is a risk, but over time, real estate has proven to be the strongest of investments a person can make. Many times, real estate will average a higher return than other more volatile investments. This is a great time to make a deal and really enjoy looking for your new home.Current Number of “Active” Properties on the Market:Manhattan Beach: 172Hermosa Beach: 97North Redondo Beach:163South Redondo Beach:127El Segundo: 41 

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Single Family Residential Home, Townhomes and Condominiums.
Statistics as of February 20, 2007 compiled from MRMLS South Bay Association of Realtors®.

Manhattan Beach

© Brinette Holdren - visit sellingbeachhomes for more great content. 

Hermosa Beach

© Brinette Holdren - visit sellingbeachhomes for more great content.

North Redondo Beach

© Brinette Holdren - visit sellingbeachhomes for more great content.

South Redondo Beach

© Brinette Holdren - visit sellingbeachhomes for more great content.

El Segundo

© Brinette Holdren - visit sellingbeachhomes for more great content.

Summary:

The significance of list price over sale price is that buyers were able to negotiate a lower sales price than the

sellers were asking for their properties. Also, this means that it is a buyer’s market and a great time

to make an investment in real estate.

Current Number of “Active” Properties on the Market:Manhattan Beach: 157Hermosa Beach: 95North Redondo Beach: 154South Redondo Beach: 137El Segundo: 41 

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In a recent Daily Breeze article “Inventory Glut Pushes Median U.S. Housing Value Down, But in California Prices Actually Increase 3.2 Percent”, Martin Crutsinger of The Associated Press reports on the glut of housing inventory nationwide, while California shows up the rest with an increase of 3.2% over the last 5 months. The article espouses what many real estate professionals in the Southern California region have been saying for years: The housing market is different here. We are a market of local value, local businesses, desirable locations and high paid professionals.

The statistics often reported in the headline news are derived from the National Association of Realtors and can fail to describe what’s really happening in certain states, counties and local cities. These news headlines can hurt our market by creating uncertainty in the buyer’s minds. One article may be all it takes to make a buyer decide to wait for better times. Oftentimes that means they are going to pay higher prices. The housing market is strong and stays strong because we have a highly desirable finite product. Real estate values in certain California cities can stay the black year after year. In fact, according to Dataquick, a third party group, the numbers look like this for local appreciation:

Manhattan Beach (percentage appreciation in median price of single family homes year over year)

2000 14%
2001 2%
2002 17%
2003 24%
2004 24%
2005 13%
2006 5%

Hermosa Beach

2000 8%
2001 1%
2002 20%
2003 23%
2004 19%
2005 19%
2006 1%

Redondo Beach

2000 10%
2001 10%
2002 16%
2003 17%
2004 25%
2005 15%
2006 3%

Not only is the South Bay different from Los Angeles and the rest of the state and country in its real estate values, it’s also a great place to live. Link to the resources in this article for more information and sourcing.

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This great rental is only one block to the beach in beautiful Manhattan Beach. 1 bedroom, 1 bathroom lower level apartment with garage! These are hard to come by.

See the link below for info.

www.geocities.com/tomruffrentals/home.html

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Few things are as true as numbers. They don’t lie or exaggerate to sway you. If you’ve been considering selling or buying and aren’t sure if you’re ready, take a look at the following facts about home sales in the South Bay. The numbers used to find this information are actual South Bay Brokers sales data for the last few years.

Some Facts:

(1) It is an incontrovertible truth that sales volume is best in the beginning of the year through spring. Number of sales decline as we get into fall.

(2) Sales dollar figures have increased in 2007 for a record setting February. This is an indication that the market is in fine shape and the best time for you to sell is now.

(3) Less buyers means less sales and lower prices. Getting into the market at the right time is imperative.

If you find this information interesting and you would like to discuss how the market can affect your real estate investment goals, please do not hesitate to give me a call.

I believe that quality, blended with excellent service, is the foundation for a successful business.

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