June SOLD Beach Cities

The market is moving from a Seller's market toward a Buyer's market although prices are not going down. Buyers have lost the sense of urgency that prevailed over the last few years. They know they can take time to find a home "that is perfect". I spoke with a couple today at an open house that have been looking for two months and are not in any hurry to buy. They will wait for the "right" property. Buyers are not going to settle for anything less as they did in the last few years.
If you are thinking of selling be ready for prospective purchasers to be very picky. A home must be in good condition and priced right if it is going to appeal to a buyer. Patience is more then a virtue it is now a necessity. Even well priced homes may stay on the market 60-90 days.
As always the only sure thing about our Beach Cities market is that it is always changing!.

If you are interested in statistics for other cities or want more detailed information on any of the above cities e-mail me at Kaye Thomas with your request.



BEACH CITIES SOLD FOR June 2006:


EL SEGUNDO:


SINGLE FAMILY HOMES: Ten properties closed escrow in June. The least expensive was listed at $799,000 and closed at $755,000. The most expensive was listed at $1,500,000 and sold at $1,505,000.
The median price ( half below and half above price) was $902,000 up significantly from last month.



TOWNHOME/CONDOMINIUMS: Four properties closed escrow last month. The least expensive was listed at $495,000 and sold at $510,000. The most expensive was listed at $789,000 and sold at $769,00. The median price was $654,000 up from last month.



HERMOSA BEACH:


SINGLE FAMILY HOMES: 12 homes closed escrow in June. The least expensive was listed at $699000 and sold for $699,000. The most expensive was listed @$3,650,000 and sold at $3,650,000. The median price ( half above and half below price) was $1,100,000 down from last month.


TOWNHOMES/CONDOMINIUMS: 7 properties closed escrow last month. The least expensive was listed at $555,000 and sold at $515,000. The most expensive was listed at $1,399,000 and sold for $1,345,000. The median home price was $1,059,000 down from last month.



MANHATTAN BEACH:


SINGLE FAMILY HOMES: 40 homes closed escrow in June compared to 30 in May. There were four homes under $1,000,000.
The least expensive was listed at $875,000 and sold at $870,000. The most expensive was listed at $2,799,900 and sold at $2,750,000. The median home price ( half were above and half below price) was $1,647,500 down from last month.

TOWNHOMES/CONDOMINIUMS: There were 15 units that closed escrow last month. The least expensive was listed at $549,000 and sold at $545,000 . The most expensive was listed at $1,799,500 and sold at $1,799,500. The median townhome price was $1,140,000 down from last month.


REDONDO BEACH:


NORTH REDONDO:


SINGLE FAMILY HOMES: There were 25 homes that closed escrow in June compared to 16 in May. There were no homes that sold under $650,000. The least expensive was listed at $659,500 and sold for $650,000. The most expensive was listed @ $1,200,000 and sold for $1,200,000. The median home price ( half above price and half below) was $799,000 the same as last month.


TOWNHOMES/CONDOMINIUMS: There were 30 closed escrows last month down from 42 the previous month. There were none that sold under $550,000. The least expensive listed at $579,000 and sold for $569,000. The most expensive was listed at $1,199,000 and sold for $1,150,000. The median price was $860,500 up slightly from last month.


SOUTH REDONDO:


SINGLE FAMILY HOMES: 7 homes closed escrow in June compared to 12 in May. There was one under $700,000. The least expensive home was listed at $695,000 and sold for $685,000. The most expensive was listed @ $1,850,000 and sold for $1,850,000. The median home price was $1,075,000 up significantly from last month...


CONDOMINIUMS: There were 13 stacked unit condominiums sold last month. Most of them were along Catalina/The Esplanade and had some ocean views. The least expensive was listed @ $360,000 and sold at $365,000. The most expensive was listed at $1,750,000 and sold for $1,650,000. The median price was $550,000 up from last month.


TOWNHOMES: There were 22 townhomes that closed escrow last month compared to 9 the previous month. There were 3 under $650,000. The least expensive was listed @ $599,000 and sold for $597,000. The most expensive was listed at $1,375,000 and sold for $1,339,000. The median price was $824,500 down from last month.



Give me a call or e-mail me at: Kaye Thomas with questions or comments.
That's it for now...

Kaye