South Bay Resale Activity for January 2007
Apparently I was mistaken about the changes in DataQuick's methodology. The firm is indeed making changes in its methodology that I described but the changes won't be applied uniformly throughout all the areas it covers. Apparently it is still reporting only RESALE activity for Southern California. And here I was hoping for a merging of new construction sales and resale activity. Oh well. At least Shorewood provides us a calculation of that.
And judging by how few sales are recorded in some of these zip codes for January, I am inclined to believe that Shorewood's data is consistently more reliable. When you're talking about only 6 or 7 SFR sales in a zip code within a month, it's difficult to come to any solid conclusions about median price trend. On the other hand, Shorewood aggregates sales data out of the beach city zip codes, and there is a large dataset as a result.
The thinness of data is evident in the zig-zagginess of the raw trendlines in the charts. Compare the trendlines of the individual zip codes with the trendlines for the Los Angeles county graphs, which contain literally thousands of data points, and are so smooth they really don't need to be represented by a moving average. We can clearly see from the Los Angeles County graphs that the trends have reached a "resting" point. YOY trends are hovering between 5% and 0%. Will the trends poke through 0? Stay flat? Rebound upwards?
Here is the resale activity for the immediate area. Just keep in mind what I said about coming to conclusions with such small sales numbers - and this is not a new problem or unique to DataQuick, by any means.
SFR MEDIAN %YOY CONDO MEDIAN %YOY COMMUNITY ZIP SALES SFR CHG SALES CONDO CHG LA/Westchester 90045 24 $695 -13.1% 6 $469 20.7% El Segundo 90245 6 $760 -1.7% 4 $550 7.7% Hawthorne 90250 35 $545 1.3% 4 $392 0.5% Hermosa Beach 90254 7 $1,715 55.9% 3 $894 -0.6% Lawndale 90260 7 $570 10.2% 6 $329 -15.6% Manhattan Beach 90266 31 $1,308 -11.6% 3 $1,525 -2.9% Palos Verdes Pen. 90274 20 $1,600 -5.7% 1 $640 125.7% Rancho P.V. 90275 31 $929 -24.2% 2 $560 -15.0% Redondo Beach 90277 8 $865 -11.7% 14 $750 11.5% Redondo Beach 90278 15 $735 -6.4% 23 $659 -7.2%
Los Angeles County and the beach city zip codes - El Segundo, 90245; Hermosa Beach, 90254; Manhattan Beach, 90266; Redondo Beach, 90277, 90278 - are charted here. All charts graph RESALE activity.