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.
South Bay Brokerage Results 2008
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.
Total unit sales for the top 18 brokerages were up 18.4% over December of 2007. The value of those sales was still down 14.7% over the previous year but with increased sales activity there should be a slowing in the free fall of home values seen through most of 2008. Combine that with the current low mortgage rates and 2009 may be the year real estate stabilizes in the South Bay.
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