Market Conditions

Published in South Bay Real Estate News

A softening national housing market suddenly finds some stability as fear of an impending recession abates with the latest employment numbers.  Local markets, however, continue to show significant pockets of weakness and even the stalwart Manhattan Beach single family home segment, while still appreciating, is doing so at a reduced rate of appreciation that seems to reflect a multi-year plateau that is likely to continue into the first part of 2020.


Published in South Bay Real Estate News

Nationally, home sale prices have been moderating over the past year.  Not necessarily declining but the rate of increase has definitely slowed to the low single digits nationally and in Los Angeles as well.  In the beach cities, median sale prices for both single family homes and townhomes/condos have, in fact, slipped into negative territory on a year-over-year basis, with a few pockets of strength.  We've compiled the relevant data both nationally and locally.   

Still, there are small victories here and there.   For example, pictured is our listing at 1812 Elm Avenue in the Manhattan Beach Tree section  which sold for full price prior to hitting the market.  Sometimes, the real estate gods smile upon you.


Published in South Bay Real Estate News
Just as we were reflecting on the market softness at the upper end of luxury home sales here in the South Bay, a super luxurious 3-year old Tree section home listed for $6.7 million sells in a week.  Seems like the real estate gods are toying with us.

Published in South Bay Real Estate News
Historically low inventory versus higher mortgage rates and home prices that are already at a multi-year high after a strong 2017 - which of these two sets of factors will determine the direction of home prices this year in the South Bay?  Here, we offer our two cents worth.