Los Angeles County South Bay Beach Cities Real Estate $$$ Transacted for June 2008
The late spring-summer bounce is still underway, and I'm sure you'll hear local realtors trumpeting a bounce in sales as if to mean the market has recovered. But any local industry discussion of the markdowns needed to achieve those sales are pretty much limited to two words: psychological adjustment. Realtors have yet to acknowledge that the slowdown has hit the south bay. They will only say that well-priced properties sell quickly, which to some extent is true. What they don't say is that you have to have been fortunate enough to have bought your property before 2003 and not have taken out any debt against it that you are able to price your property very competitively and still close the sale coming out ahead. As far as I can tell from the ads in the Manhattan Beach Reporter, they don't discuss their expertise in working out short sales with your lender.
But sales remain pretty much well below last year's levels. South Redondo (90277) barely managed to eke out a sales volume above that of June 2007, but since the average sale price has dropped significantly, dollar volume remains down. El Segundo (90245) almost hit last year's June sales volume. Sales volume remains way down in north Redondo (90278), Manhattan Beach (90266), and Hermosa Beach (90254).
Zip Sales Sales Dollar Volume Dollar Volume
2008 2007 2008($1000's) 2007($1000's)
90245 10 11 $6,970 $11,418
90254 15 32 $21,795 $41,120
90266 28 40 $46,900 $68,440
90277 30 29 $21,120 $26,506
90278 41 59 $27,839 $46,197
YOY Comparisons
These numbers are a YOY comparison of the doubly smooth moving average of dollar volumes. I think of them as "recent pain" (or recent gain) indicators.
Even Playa Vista is starting to show a little weakness. I think this is the first time that everything I show in this list is down
90232 -10.3% Culver City 90302 -15.5% Inglewood 90254 -21.1% Hermosa Beach 90045 -24.4% Westchester 90292 -26.5% Marina del Rey 90245 -27.9% El Segundo 90094 -30.3% Playa Vista 90035 -32.2% West Fairfax 90034 -36.4% Palms 90275 -38.3% Palos Verdes Estates 90008 -38.9% Baldwin Hills / Leimart Park 90064 -40.4% Rancho Park/Cheviot Hills 90501 -42.4% Torrance 90502 -43.2% Torrance 90505 -45.9% Torrance 90504 -46.2% Torrance 90066 -46.8% Mar Vista 90401-90405 -46.8% Santa Monica combined 90305 -47.5% Inglewood 90717 -49.7% Lomita 90501-90505 -49.9% Torrance Combined SW county -50.6% Southwest L.A. County beach cities -50.7% 4 Beach Cities combined 90291 -50.8% Venice 90745 -53.2% Carson 90277 -53.4% Redondo Beach (south) 90260 -53.6% Lawndale 90746 -53.9% Carson 90277-90278 -54.9% Redondo Beach combined 90250 -55.3% Hawthorne 90249 -55.3% Gardena 90278 -56.0% Redondo Beach (north) 90019 -56.1% Country Club Park/Mid City 90230 -56.5% Culver City 90016 -56.6% West Adams 90301-90305 -58.2% Inglewood/Lennox combined 90266 -60.4% Manhattan Beach 90007 -60.4% South Central 90503 -62.3% Torrance 90036 -62.5% Park La Brea 90293 -62.8% Playa del Rey 90732 -64.0% San Pedro/Rancho PV 90047 -65.0% South Central 90301 -66.0% Inglewood 90056 -67.0% Ladera Heights 90247 -68.0% Gardena 90731 -68.1% San Pedro 90043 -68.5% Hyde Park, Windsor Hills 90044 -71.0% Athens 90062 -71.3% South Central 90037 -72.1% South Central 90303 -76.1% Inglewood 90018 -78.7% Jefferson Park 90304 -83.1% Lennox 90744 -175.0% Wilmington
Relative Strength
This is a longer-term view of the strength of dollar volume in a given zip code. For this month 5.4 is the strongest (suffering the least amount of chronic pain) and -1.5 being the weakest (suffering the most chronic pain). Think of it is as the area above 0 on the YOY graph with the area below 0 of the YOY graph subtracted out.
We are getting more areas now falling at 0 and below.
90094 5.4 Playa Vista 90247 2.9 Gardena 90305 2.5 Inglewood 90034 1.6 Palms 90044 1.5 Athens 90292 1.3 Marina del Rey 90746 1.3 Carson 90047 0.8 South Central 90502 0.7 Torrance 90301-90305 0.7 Inglewood/Lennox combined 90062 0.7 South Central 90007 0.7 South Central 90304 0.6 Lennox 90501 0.6 Torrance 90302 0.6 Inglewood 90018 0.6 Jefferson Park 90016 0.6 West Adams 90293 0.6 Playa del Rey 90745 0.6 Carson 90301 0.5 Inglewood 90250 0.5 Hawthorne 90064 0.5 Rancho Park/Cheviot Hills 90732 0.5 San Pedro/Rancho PV 90254 0.5 Hermosa Beach 90303 0.4 Inglewood 90008 0.4 Baldwin Hills / Leimart Park 90045 0.4 Westchester 90019 0.4 Country Club Park/Mid City 90043 0.4 Hyde Park, Windsor Hills 90291 0.3 Venice 90037 0.3 South Central 90245 0.3 El Segundo 90230 0.3 Culver City 90249 0.2 Gardena 90503 0.2 Torrance SW county 0.2 Southwest L.A. County 90036 0.2 Park La Brea 90501-90505 0.2 Torrance Combined 90232 0.2 Culver City 90260 0.2 Lawndale 90066 0.1 Mar Vista 90278 0.1 Redondo Beach (north) 90505 0.1 Torrance 90401-90405 0.1 Santa Monica combined 90731 0.1 San Pedro 90277-90278 0.0 Redondo Beach combined beach cities 0.0 4 Beach Cities combined 90035 0.0 West Fairfax 90056 0.0 Ladera Heights 90717 0.0 Lomita 90266 0.0 Manhattan Beach 90277 0.0 Redondo Beach (south) 90504 -0.1 Torrance 90275 -0.2 Palos Verdes Estates 90744 -1.5 Wilmington
Expect the bear market bounce to continue at least through July, which has started off strong.
To look at charts for specific zip codes, click here or here.
posted by bearmaster at 3:52 PM
1 Comments:
By Melissa Data statistics, zip codes 90277 and 90278 combined sold a total of 71 properties in June.
I have added 74 new listings from 90277 and 90278 into my database for June. My count is extremely conservative, as many listings that show up as new on Zip Realty are really listings from a year ago or two years ago.
So even by my conservative count, sales are not making too much of a dent into inventory.
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