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Shorewood Realtors Continues to Lead in South Bay Real Estate Sales – November 2008

Monday, December 22nd, 2008

For the month of November Shorewood Realtors continued to lead all Greater South Bay real estate brokerages in sales. For the the month Shorwood Realtors participated in 51 property sales throughout the Greater South Bay, 24 in house listings and 27 buyer representative sales.  Remax Palos Verders was close behind with 47 sales for the month, however the total value of their property sales was significantly less, $38.5 million vs. $61.1 million for Shorewood Realtors.

November 2008 Greater South Bay Brokerage Results - click to expand

November 2008 Greater South Bay Brokerage Results - click to expand

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South Bay MLS Real Estate Sales Update for November 2008

Tuesday, December 16th, 2008

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

November 2008 Home Sales in the South Bay

Inventory of Homes for Sale in the South Bay Nov. 2008

Inventory of Homes for Sale in the South Bay Nov. 2008

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Manhattan Beach Home Sales Continue Slide in October

Friday, November 21st, 2008

In October the Manhattan Beach real estate market continued its contraction with only 26 homes sold compared to 30 in September and 38 in August of this year. The current supply of homes available for sale assuming no new entries would now last 8.9 months.

Most telling is the average price of homes sold in October was $1,456,000, which is dramatically less than the average list price of $2,284,000 for homes available for sale. The average number of days on market increased to 100 up from 67 in September.

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South Bay MLS Real Estate Sales Update for October

Friday, November 7th, 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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