Wednesday, December 26, 2007

CAR November 2007 report for Redondo Beach

The following figures are from the California Association of Realtors (CAR) for November. CAR gets its figures from Dataquick.

The median price for a Redondo Beach home (new or existing, SFR or condo) is now $742,000, down -2.3% YOY.

My estimate came in higher, at $832,500. 41 sales were reported by Home Data, but I have only 27 November sale records in my database, which obviously comes up short. And, unfortunately Zillow is no longer helpful in obtaining home sale figures. I think there could be an issue with cut-off times for when escrows are recorded as closed, as noted by DataQuick, by Home Data, and by any other reporting agency. My October figure came in low, and my November figure came in high. There is the possibility that what I counted as November were actually October sales, and what I am now counting as early December could be part of November sales.

For the beach cities, which to the best of my knowledge encompasses what Shorewood encompasses - El Segundo, Manhattan Beach, Hermosa Beach, Redondo Beach - the median price is $1,048,500, up +15.92% YOY and up from $877,500 in October.

For the South Bay area, the median price is $640,000, up +4.07% YOY and up from $617,250 in October.

The median home price in the Westside is $820,000, down nearly -32.8% YOY, while West L.A. median price is $730,000, -6.35%. On the other hand, Palos Verdes Peninsula area records a median of $1,222,500, up nearly 20.4$ YOY.

The whole picture seems to me like a violently wobbling top.


Post a Comment

<< Home