Shorewood Reports, October-November 2005

Shorewood, a leading real estate firm here in the south bay, reports that sales of homes in the south bay in October fell 14% YOY. Both number of homes for sale and number of sales pending posted declines. According to the print edition of the Easy Reader, Shorewood is seeing some declines in November 2005 too:

#homes for sale:    384      vs Nov 04      339 (+13.3%)
#homes sold:        160      vs Nov 04      194 (-17.5%)
#sales pending:     109      vs Nov 04      192 (-43.2%)

(This data is for the cities of El Segundo, Manhattan Beach, Hermosa Beach, and Redondo Beach.) Yet, prices have blazed maniacally onward:

Avg $ homes for sale:  $1,389,000 vs Nov 04 $1,136,000 (+22.3%)
Avg $ homes sold:      $1,165,000 vs Nov 04   $902,000 (+29.1%)
Median $ of homes sold:  $923,000 vs Nov 04   $761,000 (+21.3%)
sold $ per sq ft:            $595 vs Nov 04       $470 (+26.6%)
Avg days on market:            28 vs Nov 04         33