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.
Archive for the ‘South Bay Real Estate’ Category
There were 44 new listings in the South Bay Beach Cities and Palos Verdes this week. After visiting the brokers opens held yesterday and today three of the new listings standout as particularly good prospects.
Great location in upper Hollywood Riviera. The 5 bedroom / 4 bathroom beauty has curb appear galore with breath taking city and ocean views. All the bedrooms are located on the first level, while the living area is on the upper floor with open floor plan, lots of windows and unobstructed views.
Listed with Remax at $ 1,748.000.00
MLS # V12123268
In 2008 Shorewood Realtors remained the top brokerage in the South Bay with 967 total unit sales (single family homes, condos/townhouses, residential income, and land/lot) valued at $1,088,259,000. Both figures topped all South Bay brokerages.Remax Palos Verdes Realty was second in both categories with 778 total sales valued at $783,913,000.
Overall the sales for the Top 18 South Bay Brokerages dropped dramatically in 2008 compared to 2007. Total unit sales were down 18.3% in 2008. Of even greater significance was the 33.3% drop in total dollar value of all properties sold in 2008. Although 2008 was without a doubt a trying year for South Bay home sellers there was some good news in December.
For the month of November Shorewood Realtors continued to lead all Greater South Bay real estate brokerages in sales. For the the month Shorwood Realtors participated in 51 property sales throughout the Greater South Bay, 24 in house listings and 27 buyer representative sales. Remax Palos Verders was close behind with 47 sales for the month, however the total value of their property sales was significantly less, $38.5 million vs. $61.1 million for Shorewood Realtors.
November was a rough month for home sellers in the South Bay. Of the 3420 homes (Single Family Homes, Condos/Townhouses, and Residential Income Properties) listed for sale in the Greater South Bay MLS only 420 sold during the month with another 388 going into escrow. The current supply of homes assuming no others were to enter the market would last 8.1 months.