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Redondo Beach Real Estate Market Recap for 2008
The South Bay Association of Realtor reported that overall housing sales (single family homes, condos/townhouses, residential income) in Redondo Beach in 2008 were down 34% compared to 2007. SBA recorded 651 sales in 2008 compared to 989 sold in 2007. The drop in homes sold has had a big impact on the number of listings on the market as well. For the month of December only 230 properties were listed as active for sale down from a 2008 peak of 385 in May.
2008 Redondo Beach Real Estate Sales
As the year progressed the median sold price declined steadily falling from a peak of $797,000 in January down to $680,000 in December.
2008 Median Housing Sold Price for Redondo Beach
One of the few encouraging trends was the increase in percentage of sold price to original listing price. Clearly sellers were forced to re-evaluate their price expectations, which likely is directly related to the drop in for for sale inventory as the year progressed.
Redondo Beach Sale/List Price for 2008
Redondo Beach Housing Inventory December 2008
* All reports presented are based on data supplied by the South Bay Association of Realtor or its MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
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The Government bailed out the banks, but who bails out the average man on the street? No one. Banks are dragging their feet with loan modifications. Why? Because if asset values go up, they wont have to show as big a loss. In the meantime, thousands of fine folks are losing their homes. We now reveal Insider tips to avoid foreclosures. Its a free report you can get at Save My House Tips.