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.
November 2008 Home Sales in the South Bay
Inventory of Homes for Sale in the South Bay Nov. 2008
For the month of October the Greater South Bay Multiple Listing Serivce is reporting 506 properties sold at an average sale price of $688,196. For the year to date 5340 properties have been sold in the Greater South Bay at an average sale price of $888,454.
The top performing broker for the month of October was Shoreword Realtors with 76 properties sold at an average sale price of $1,055,376. See the chart below for the complete breakdown of brokerage sales as reported by the Greater South Bay Multiple Listing Serivce.
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