For those who feel like the Real Estate market is slowing down, well it is. Sort of. But as you will see, still a very strong Seller's market, just not insanely so.
September sales came back down to closer to orbiting planet Earth. As inventory increased we did not see the mad feeding frenzy from earlier in the year. While some properties got multiple offers, others sat on the market and there were even, drum roll please, some price reductions.
September finished with 37 closed escrows, certainly less than the 45 in August. But before we get too carried away with a 20% drop let's all get a grip. Often these snapshots need to be balanced over a rolling three months data so lets not over react and think the sky is falling.
There have been 362 sales YTD in 90278 through nine months. That's 40 per month, so maybe we're only off 10% comparatively. But with 61 homes currently under contract chances are the final sales numbers for October will look a lot better.
Back to September sales for a few quick observations:
So with just about 30% of the North Redondo Beach properties being sold over $1M that is not a bad thing. At least of you are a current homeowner.