Click on the button to be directed to a ten year summary of that city's sales activity...
"We still have some ways to go before we can be assured that the recovery will be self-sustaining. Also at issue is whether the recovery will create the large number of jobs that will be needed to materially bring down the nemployment rate".Ben Bernanke, Federal Reserve Chairman in December 2009.
The links above direct you to summary sales data for each of the cities by area and year for th epast decade. Below are our observations or thoughts on the current trends for single family home sales in the South Bay through 2009:
-
From 2000 to 2002, both the sales prices and number of homes sold increased in the South Bay beach cities and in Palos Verdes
-
Going into 2003 and in every year through 2007, the prices continued to rise on average, but the number of homes selling declined every year
-
Starting in 2008, both average selling prices and the number of sales dropped
-
The most expensive zip code on average at the beginning of the decade was 90274, but in 2003 it became 90266. Since then the lead has been changing hands between these two zip codes
-
It appears that the total number of sales in 2009 may exceed the total from 2008 for most cities
-
Current sales prices are commensurate with prices last seen in 2004/2005 for most of the cities studied
-
In 2008, the average sales price of a home sold in Hermosa Beach exceeded that in Manhattan Beach for the first time, though the median sales price did not
Please contact us at 310-213-2703 if you are interested in specific analyses of any particular area.