CAR/DQNews December 2007 report for Redondo Beach

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

The median price for a Redondo Beach home (new or existing, SFR or condo) is now $732,500 down -0.3% YOY.

My calculation came in a bit high - at $775,000, based on 29 records. DataQuick had 42 Redondo Beach sale records.

For the four beach cities, DataQuick reports a median price of $935,000, up 0.65% YOY, based on 67 sales.

For the South Bay area, DataQuick reports a median price of $632,250, up 3.44%, based on 272 sales.

The median home price in the Westside is $1,575,000, up 74.03% YOY, based on 39 sales. West Los Angeles median price was $775,000, down -2.52% YOY. Palos Verdes Estates recorded a median of $1,127,500, down -18.88% YOY, based on 14 sales, and Palos Verdes Peninsula area recorded a median price of $1,050,000, down -1.87%, based on 35 sales. Malibu is up 4.9% at $1,500,000, based on 11 sales, while Beverly Hills is down -3.44% to $1,641,500, based on 22 sales.

The Westside is still showing some strength, but it looks like weakness is encompassing even the well-to-do areas. Even though they can afford to write checks for their properties, do you suppose that even the wealthy might hesitate before plunking down their cash on a property with all this financial seismic activity going on?