Thursday, April 27, 2006

Shorewood Realtor reports: number of homes for sale up sharply in March

According to Shorewood Realtors, the number of homes for sale in the cities of El Segundo, Manhattan Beach, Hermosa Beach, and Redondo Beach was up 128% YOY in March, to 502 from the 220 homes the previous March. In nearby Hawthorne, inventory jumped 295% and Palos Verdes saw a 113% jump.

The number of sales were generally lower, though neighboring city Torrance saw sales increase by 5.1%, and Inglewood jumped by 84.6%. (Just keep in mind if there were few sales to begin with, any increase is going to look like a big percentage.)

Days on market in the four beach cities increased to 39 days from 33. (DOM can be misleading if homes are delisted then relisted, but around here that seems to be just a handful of homes, so far...)


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