Redondo Beach sales stats through May 2007

The following numbers are taken from the SALE records in my database.

STAT     DEC 2006   JAN 2007    FEB 2007    MAR 2007    APR 2007    MAY 2007
records        50         48          64         105         114          91
MEDIAN   $737,000   $724,500    $745,358    $755,000    $799,000    $777,000   
AVERAGE  $769,170   $762,005    $787,799    $813,252    $884,271    $855,228
MIN      $400,000   $389,000    $387,500    $370,000    $470,000    $453,000   
MAX    $1,400,000 $2,100,000  $1,878,000  $2,027,000  $1,750,000  $1,640,000  

My SUPPLY records which have recorded sales for May 2007 number about 68. According to my SUPPLY records, DOM, original asking price, sale price, percent reduction from original asking price, and square feet are as follows:

                ORIGINAL   SALE       PCTRED    SQFT
         DOM    ASKING     PRICE
MEDIAN    88    823500    802250        1.8     1806
AVERAGE  122    873072    836850        3.7     1886
MIN       30    459000    453000       -2.8      619
MAX      369   1670000   1600000       18.1     4700

From these numbers I notice that square footage has pushed up. When I ran these numbers for March sales on my SUPPLY records, median square footage was 1691 and average square footage was 1773. Median sale price was $749,000 and average sale price was $785,129.

If you divide March average sale price $785,129 by average square footage 1773, then compare it to May average sale price $836,850 divided by average square footage 1886, there is practically no difference.

Because of the push up in square footage, I figure that in May, buying BIGGER was the rage. 90277, home of the bigger more ostentatious homes, has particularly done well these last few months.

It sort of makes me wonder if there is one buying/selling season for Joe Schmo (March), and another season for Richie Rich (May).

I notice too from these numbers that median DOM has finally dropped. This could be the effect of newer inventory priced more competitively and selling more quickly. Also, it is unclear to me to what extent, if any, these numbers represent foreclosures being resolved through auctions, although there are some distress-type sales in these records.

I'm still not sure all the May sale records that I'm going to find are in. I can't guarantee it but I'll try to do the bar charts for May records this week.