Redondo Realtor reports for December-January

Not even the realtors here in Redondo Beach see things the same. But one thing is for sure, this area still seems relatively resistant to the slowdown that has infiltrated real estate markets in other parts of the state and the country.

As of February 2, 2006, realtor Robert Kissig ranks the current market conditions as 5/5, with 1=buyer's market and 5=seller's market. Current price trend he ranks 5/5, with 1=falling and 5=rising. He reports the following current stats, up from November 2005:

   NORTH Redondo:
   SFR median home price:          $765,000     +17.6%
   condo/townhouse median price:   $675,000     +8%

   SOUTH Redondo:
   SFR median home price:          $951,000     +7.4%
   condo/townhouse median price:   $663,000     +8%

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According to realtor Don Tambini, in his January 31, 2006 Realty Times report, sales activity has slowed quite a bit in Redondo Beach. On a scale of 1 to 5 he gives the current market a 3 (midway between buyers and sellers) and the current price trend is 3 (flat, between falling and rising). The prices for single family residences (SFRs) was down slightly in December 2005 from December 2004, but condo prices have risen.

                     Dec 2005   Dec 2004
Number SFRs sold:    13         38
Average price:       $784,000   $841,000
Avg time on market:  46         24

For January:
SFRs on the market:        81
avg price:                 $1,113,000
avg time on market:        37
townhouses on the market:  91
avg price:                 $842,000
avg time on market:        38
condos on the market:      24
avg price:                 $741,000
avg time on market:        44

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As of January 30, South Bay Home Team ranks the current market and the current price trend 5/5. SBHT reports the following YOY stats for December:

                                 
                                      Dec 2005   Dec 2004
Number of sales, all residence type:       248        340     -27%
Median sales price:                   $799,000   $679,000     +18%

(I don't understand why they rank the current market rating 5/5 if number of sales is -27%.)

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Realtor Martine Klein ranks both the current market and the current price trend a 4/5. As of January 26, she reports longer days on the the market, lower prices per sq foot, and offers being accepted below asking prices. She believes this is the "usual slowdown at this time of year".

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As of January 15, 2006, realtor Kay Grundhaus also thinks the cooling off is "normal for this time of year". She ranks the current market rating as 4/5 and the current price trend 3/5. She expects prices to go up another 10% in 2006.