Beach Cities... March Sold Statistics

The market is about the same as last month. We didn't see the Spring bounce that normally starts in mid-March. Sales are slower but prices are still increasing, although at a much lower level then last year.. Pending sales are on the rise but the Days On Market(DOM) is longer then last year. Select properties are seeing multiple offers and prices over the list price. We might just be seeing the top of the market approaching!


The South Bay is still a strong market whether you are selling or buying. There will be continual market adjustments in each sub area of the local markets. Townhomes in Manhattan Village were flat for months and now are selling close to list price.... once the prices were reduced a bit. Single family homes in Manhattan Beach under the $2,000,000 level are moving but those above that figure are staying on the market with very little activity. As always the only sure thing about our Beach Cities market is that it is always changing!.
BEACH CITIES SOLD FOR March 2006:


EL SEGUNDO:


SINGLE FAMILY HOMES: Six properties closed escrow in March. The least expensive was a 2 bdrm 2 bath 1,741 sqft home that was listed at $829,000 and closed at $824,500. The most expensive was a 4,800 sqft home that was listed at $1,999,000 and sold at $1,850,000.
The median price ( half below and half above price) was $1,050,000 up from last month.



TOWNHOME/CONDOMINIUMS: Eight properties closed escrow last month. The least expensive was a 2 bdrm 2 ba 1,177 sqft unit on Cedar that was listed at $477,000 and sold at $467,500. The most expensive was a 3 bdrm 3 bath 1,950 sqft unit that was listed at $799,000 and sold at $799,000. The median price was $584,000 down from last month.



HERMOSA BEACH:


SINGLE FAMILY HOMES: 9 homes closed escrow in March. The least expensive was a 3 bdrm 2.5 bath in the Sand Section that listed at $1,199,000 and sold for $1,199,000. The most expensive was a 5 bdrm 3,943 view home listed @$2,799,500 and sold at $2,799,500. The median price ( half above and half below price) was $1,257,000 down from last month.


TOWNHOMES/CONDOMINIUMS: 12 properties closed escrow last month. The least expensive was a 1 bdrm 1 bath 598 sqft unit on Prospect that was listed at $368,900 and sold at $362,000. The most expensive was a 3 bdrm 3 bath 2,450 sqft view townhome that was listed at $1,795,000 and sold for $1,727,000. The median home price was $1,049,750 down significantly from last month.



MANHATTAN BEACH:


SINGLE FAMILY HOMES: 36 homes closed escrow in March. There was one home under $1,000,000.
The least expensive was a 2 bdrm 2 bath 877 sqft home in the Sand Section that listed at $999,000 and sold at $975,000. The most expensive was a Strand home. It was a 3 bdrm 3 bath 3,142 sqft home that was listed at $6,900,000 and sold at $6,900,000. The median home price ( half were above and half below price) was $1,766,500 down from last month.

TOWNHOMES/CONDOMINIUMS: There were 14 units that closed escrow last month. The least expensive was a 1 bdrm 1 ba unit on Manhattan Beach Blvd east of Sepulveda that was listed at $479,000 and sold at $455,000 . The most expensive was Sand Section unit. It was listed at $1,850,000 and sold at $1,850,000. The median townhome price was $1,232,500 up from last month.


REDONDO BEACH:


NORTH REDONDO:


SINGLE FAMILY HOMES: There were 20 homes that closed escrow in March. There was one home that sold under $650,000. The least expensive was a 3 bdrm 1.5 bath 1,056 sqft that was listed at $600,000 and sold for $600,000. The most expensive was a 4 bdrm 3 bath 2,906 sqft TRW home that was listed @ $1,199,000 and sold for $1,199,000. The median home price ( half above price and half below) was $782,000 up from last month.


TOWNHOMES/CONDOMINIUMS: There were 29 closed escrows last month. There was one that sold under $550,000. The least expensive was a 2 bdrm 1.5 bath 1,476 sqft unit listed at $515,000 and sold for $510,000. The most expensive was a new 5 bdrm 3.5 bath 3,015 sqft two on a lot that was listed at $1,325,000 and sold for $1,300,000. The median price was $720,000 up slightly from last month.


SOUTH REDONDO:


SINGLE FAMILY HOMES: 14 homes closed escrow in March. There were none under $700,000. The least expensive home was a 2 bdrm 1 bath 1,107 sqft home that was listed at $775,000 and sold for $775,000. The most expensive was a 5 bdrm 4 bath 3,800 sqft home that was listed @ $1,989,000 and sold for $1,900,000. The median home price was $970,000 up from last month.


CONDOMINIUMS: There were 6 stacked unit condominiums sold last month. Most of them were along Catalina/The Esplanade and had some ocean views. The least expensive was a 571 sqft unit in The Village. It was listed @ $434,000 and sold at $428,000. The most expensive was a 2 bdrm 2 bath 1,500 sqft unit in The Village that was listed at $950,000 and sold for $950,000. The median price was $519,950 down from last month.


TOWNHOMES: There were 13 townhomes that closed escrow last month. There was one under $650,000. The least expensive was a 2 bdrm 2.5 bath 1,314 sqft unit that was listed @ $659,000 and sold for $645,000. The most expensive was a new 4 bdrm 3 bath 2,432 sqft unit that was listed at $1,249,000 and sold for $1,249,000. The median price was $835,000 up from last month.