Some Nice Selections

I’ve been sending out some of the nice selections locally to a picky market. Hard to figure. People seem to be very selective with no particular reason. Even 4-unit listings are beginning to make an appearance after it seems like a lifetime of sitting in the weeds. Buyers are simply finding it hard to make a buying decision these days. Even the rising prices, and euro’s 36% addition to the dollar have been less detering for US buyers in France, than the attitude created by our mystical press locally.

Poor loan availability is understandable...it should have been this way all along. Mortgages rates are very attractive and prices are only slowly making upward drifting in most cases; in some, they’re drifting down a tad.

In all, nothing dramatic has actually come cruising into the real estate market. It’s simply been the mythical creation of a plastic balloon of some sort engulfing our real estate holdings, threatening to explode at any moment. In the meantime, real estate in the south bay goes on in an undeterred fashion, except for an unexplained atmosphere of purchase avoidance. Amazing, except for the required capacity to qualify for a loan. One of these days, the rainbow will open and buyers will realize the beauty and availability of residences by the sea.

Currently in the South Bay, there are 374 properties available, comprising:

El Segundo: Total 37
Single Family Residences: 23
Median: $1,499,000; Low: $699,500; High: $2,190,000
DOM: 67
Townhome/Condos: 14
Median: $747,500; Low: $439,000; High: $899,900
DOM: 54

Manhattan Beach: Total 116
Single Family Residences: 92
Median: $2,337,500; Low: $849,999; High: $8,150,000
DOM: 53
Townhome/Condos: 24
Median: $1,707,000; Low: $769,000; High: $4,950,000
DOM: 55

Hermosa Beach: Total 95
Single Family Residences: 57
Median: $1,499,000; Low: $819,000; High: $11,000,000
DOM: 57
Townhome/Condos: 37
Median: $1,305,000; Low: $479,000; High: $2,499,900
DOM: 49

Redondo Beach South: Total 126
Single Family Residences: 29
Median: $1,299,500; Low: $749,000; High: $2,690,000
DOM:45
Townhome/Condos: 97
Median: $899,000; Low: $357,500; High: $4,990,000
DOM: 66