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.
Extremely large lots, many with ocean views, are rapidly being developed in the Manhattan Beach Hill section. Look for a slew of brand new homes in the Hill section in 2020. Will any be available for sale?
Just as Gloria Swanson proclaimed herself ready for her closeup in Sunset Boulevard, a few homesellers, captivated by the 'reality' tv show Million Dollar Listing LA, have decided their homes were similarly ready for a tv closeup, or at least the cachet of a reality tv agent to help juice their homes' marketing efforts. For the results of this strategy, read on.
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.
Are upper-end homes sales starting to stagnate in the South Bay? Check out some of the more expensive homes that are still searching for buyers, even, in some cases, with the added publicity of having appeared on hit television shows.
Outstanding views are the hallmark of a newly-listed contemporary masterpiece in the Manhattan Beach Sand section. Best of all, the owner of this single family home effectively owns those views. Some examples of what we mean are included here.