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

In the Beach Cities, comprised of Manhattan Beach, Hermosa Beach, and Redondo Beach, Shorewood’s lead was far more dramatic with 28 sales compared to second place Remax Beach Cities with 13 sales.

November Beach Cities Real Estate Sales by Brokerage - click to enlarge

The market as a whole continues it’s downward trend. The dollar value of of real estate sales for Shorewood dropped from $111.8 million in September to just $61.1 million. Second place Remax Palos Verdes saw an equally dramatic loss in sales dropping from $63.2 million in September to only $38.5 million in November. The good news for home sellers and buyers is that the recent mortgage interest rate drops may rekindle the Greater South Bay real estate market in 2009. More to come on that subject next week.

3 Month Trend for South Bay Brokerage Sales Sept. - Nov. - click to enlarge