Housing Inflation?

Ah yes, I can remember when our home in Westwood Village cost somewhere in the neighborhood of $5,000. Just south of Wilshire Blvd, it was a beauty with a bamboo walled den and porch from this romantic feeling room overlooking a sizeable backyard. The large garage was on the back of the yard. We would drive to the top of Sepulveda Blvd (pre-405 Fwy) and hunt deer, not far from where the current Getty Museum sits. Manhattan Beach was unknown to many in those days. Kids, but not many adults, would ride bicycles down to surf. Prices in either end of these towns are now of course nostalgic.

Those who bought homes in the 90’s saw home values drop...there was a period when they owed more than they could get if they sold. Today, they’re sitting pretty. These nightmare years are a distant memory.

It’s a realistic thing for potential buyers today to consider...it will happen again just as sure as the sun will rise. Buying a home will become an excellent investment in the future...as long as the buyer spends some time in the property. Home ownership has done so much for so many... and will continue to do so. Inflation will continue to work for the buyer rather than against them.

Currently in the South Bay, there are 381 properties available, comprising:

El Segundo: Total 35
Single Family Residences: 22
Median: $1,299,450; Low: $765,000; High: $2,190,000
DOM: 56
Townhome/Condos: 13
Median: $669,000; Low: $439,000; High: $879,900
DOM: 83

Manhattan Beach: Total 122
Single Family Residences: 101
Median: $1,544,000; Low: $799,000; High: $1,995,000
DOM: 26
Townhome/Condos: 21
Median: $1,619,000; Low: $655,000; High: $4,950,000
DOM: 78

Hermosa Beach: Total 100
Single Family Residences: 57
Median: $1,549,000; Low: $659,000; High: $11,000,000
DOM: 93
Townhome/Condos: 43
Median: $1,249,000; Low: $479,000; High: $2,499,900
DOM:60

Redondo Beach South: Total 124
Single Family Residences: 33
Median: $1,225,000; Low: $750,000; High: $2,699,900
DOM:81
Townhome/Condos: 91
Median: $807,000; Low: $683,900; High: $899,900
DOM: 65