Other measures of Los Angeles beach cities market activity, August 2007

Shorewood has very graciously emailed me August numbers.

For the beach cities (El Segundo; Manhattan, Redondo, and Hermosa Beach), average days on market (DOM) has edged down to 37.

For August, I calculated the Redondo Beach median DOM at 84, and average DOM at 120. Time on market has, for the most part, been hovering around in the 3-4 month range for a few months.

Demand weakness (supply strength) has pulled back very slightly in August. The number is lower than the August 2006 number, reflecting somewhat lower inventories.

Median price has taken another leap upwards.

Now before you groan, let me show you some interesting numbers from the report that Shorewood emailed me. Shorewood likes to categorize the sales numbers by sales price. In the table below, I summed up the sales for prices up to $999,999, and then summed up the sales for prices $1,000,000 and above. Keeping in mind that for August 2006 Shorewood reports 183 sales, and for August 2007 there were 164 sales, this is how they tabulate:

                 2006         2007
<= $999,9999      108           74
$1,000,000 +       75           90

You can see how in 2006, the sales in the "low-end" (if homes below $1,000,000 can be called low-end!) exceeded high-end sales, but that in 2007 there were more high-end sales than low-end sales. High-end luxury homes are really driving this market for now.