Preliminary look at December 2007 Redondo Beach sales

I am still scraping sale data out of the Manhattan Beach Reporter. Zillow's condition has improved slightly but still worthless for my purposes. MBR does not give exact sale dates so my estimates now fall to the first day of the reporting period.

I don't have enough records here for real statistical validity, so just keep in mind I'm doing the best I can with what I've got. The table below is my ongoing saga of estimates based on my SUPPLY (inventory) records:

STAT     JUN 2007   JUL 2007   AUG 2007   SEP 2007   OCT 2007   NOV  2007    DEC 2007   
records        62         78         51         68         44          37          26
MEDIAN   $764,500   $860,000   $850,000   $857,000   $755,000    $832,500    $782,500    
AVERAGE  $830,711   $880,279   $867,925   $935,506   $770,416    $933,956    $832,827
MIN      $485,000   $359,000   $365,000   $369,900   $369,900    $379,000    $486,500  
MAX    $1,565,000 $2,299,000 $1,510,000 $2,400,000 $2,560,000  $2,500,000  $1,500,000

I will throw in here that the median original asking price on these sold properties in December was $852,000, and the average original asking price was $905,484.

Median square footage for these sales is 1708 and the average is 1814.

What I call median DOM (time spent hustling a property - see prior posts), dropped every so slightly to just a shade under 3 months - 86 days. Average DOM is 137 days.

By how much did December homesellers have to drop their original asking prices? The median reduction was 6.24%, and the average was 7.83%. These figures have been slowly creeping up.