Los Angeles Beach Cities Resale Activity for June 2008

Long time readers know that these DataQuick statistics, broken out by zip code and housing unit type are my least favorite statistics because statistical validity is not supported by such small sales numbers. The only charts with any validity here are the ones for Los Angeles County. Note the smooth lines on the county charts, as opposed to the jerky lines on the beach city zip code charts. That's because there are thousands of data points for the county, as opposed to a handful for each zip code.

There is nothing sacred about median price. It doesn't really help you determine what your own home is worth (the best thing helping you there is probably comparable sales), and these charts say nothing about how far inventory is getting marked down, or how much inventory there is for that matter.

Here are the detailed RESALE statistics for the beach cities and some of the surrounding zip codes (prices are in 1000's):

                         SFR   MEDIAN    %YOY    CONDO  MEDIAN   %YOY  
COMMUNITY         ZIP    SALES   SFR      CHG    SALES  CONDO     CHG
LA/Westchester    90045   25    $774      1.5%    N/A     N/A     N/A
El Segundo        90245    8    $907    -13.6%     3     $585     4.8%
Hawthorne         90250   23    $430    -17.3%     2     $363   -13.0%  
Hermosa Beach     90254    9  $1,350      4.1%     5   $1,289    12.2%  
Lawndale          90260    7    $358    -33.1%     3     $400    18.7%  
Manhattan Beach   90266   27  $1,900     46.2%     6   $1,010   -57.0%  
Palos Verdes Pen. 90274   20  $1,475     -4.8%     2     $598   106.0%  
Rancho P.V.       90275   27  $1,024     -5.4%     4     $488   -23.3%   
Redondo Beach     90277   13    $870     -9.4%    14     $609   -23.9%   
Redondo Beach     90278   25    $685     -7.7%    15     $650    -7.2%