November 29th, 2013
October real estate sales activity for the Torrance market declined by about 20% compared to September’s data. Reasons to explain this trending behavior include the summer season ending, schools back in session, and the decrease in total listings by almost 6%.
The median sales price, however, increased by approximately 25% year-over-year for October, which equates to $133K in appreciation.
Comparing the sales/listings ratios for October and September reinforces real estate activity has dropped marginally, but by only 12%.
Last, the months of inventory data analysis shows property is presently moving about 12% slower than this time last year.
November 29th, 2013
For October, the number of closed escrows for the Redondo Beach residential real estate market declined relative to September by approximately 17%. This is partially explained by a decrease in active listings, summer coming to an end and school starting back up. In other words, there was less inventory to choose from and buyers were focusing their attention elsewhere.
On a positive note, however, the median price year-over-year statistics reveal property values in October 2013 have increased about 5.1% relative to October 2012 figures. Or, in dollar amounts, the median value has improved from $709,500 to $747,500.
November 28th, 2013
Residential real estate sales for Hermosa Beach during the month of October improved compared to September by 7 sales, or from 15 to 22 closed escrows, which represents about a 47% increase in market activity.
Another promising trending statistic is the year-over-year median sales price for October, which increased from $895K in 2012 to $1.3M in 2013.
Yet additional data worth considering is the sales/listing ratio in October versus September, which resulted in an increase of 15.4%, or an improvement from 27.8% to 43.1%. Meaning, inventory moved faster in October indicating – in general – buyer’s ability and willingness to make serious offers.
November 27th, 2013
As expected, the pace of residential real estate activity in the Manhattan Beach area for the month of October slowed slightly as compared to August and September. Under normal circumstances this trending behavior is assumed given summer is over and families are now focusing attention on the school year and the approaching holiday season. In total, 29 homes sold in October with the 11 closed escrows reported in the Manhattan Beach Tree district.
Overall the median sales price for the Manhattan Beach area was $1,520,000. Comparing 2012 to 2013 median sales statistics for October, this figure is an improvement of approximately $307K. Meaning, in general, the aggregate value of residential properties in Manhattan Beach has appreciated in value year-over-year.
February 2nd, 2013
What a difference a year makes. Last year at this time there were 380 active listings for homes for sale (single family residential, townhouse, and condominiums) in the 3 South Bay Beach Cities – Manhattan Beach, Hermosa Beach, and Redondo Beach. As the month of February starts there are only 179 total listings across the Beach Cities, down a whopping 52.89% from a year ago.