Friday, March 10, 2006

Real Estate $$$ transacted, through February 2006, 90266

While I may be able to make a case that 90278 is showing a decline, in terms of real estate $$$ transacted, the same cannot be said for Manhattan Beach, which still appears to be going warp speed ahead.

I did the same thing here as I did for 90278, that is, starting from January 2002, multiply the number of sales for the month by the average home price sold. The original data is extremely lumpy, with relatively huge numbers of sales (and $$$ transacted) Jul 2002, Apr 2003, Sep 2003, Mar 2004, Aug 2004, and Jul 2005, when compared to the other months. Even after doubling smoothing it with moving averages, I still did not completely delumpify it.

No sign of a slowdown yet in 90266.

2 Comments:

Blogger redondo beach dude said...

Go to zillow.com and look at 90266, 5% drop since Jan 1. More evidence... I'm on automatic email distribution by 3 different RE agents and ZIP realty. Significantly more listings and price reductions. Hermosa looks to be holding up better (zillow.com again) than Manhattan.

2:46 PM, March 10, 2006  
Blogger bearmaster said...

Hi RDB,

Listings always go up in the spring, since spring is a traditional selling season. What would be interesting to know is how many listings are there now compared to this exact time last year and the year before?

I have seen price reductions for years in my 90278 neighborhood, but they are only token amounts of 2-7%. Right now there is one house that I know of that is marked down more than 10% from the original asking price. When I see more like that then I'll know the price weakness if finally revealing itself to the world.

4:56 PM, March 10, 2006  

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