February SOLD Beach Cities

February is not only a short month but usually also a slow one. There is a lot of property currently in escrow ( sale pending). We should see more action as properties close in March reflecting a 45-60 day escrow period. Here's a quick snapshot of home ales in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo for February 1-28, 2007.

What a difference a few months can make. Inventory is down in most areas. Townhomes and condos in North Redondo and single family homes and townhomes in Manhattan Beach have seen the biggest decline in inventory. North Redondo appears to be on fire with properties selling very quickly. There are almost as many properties in escrow as are currently available which is a big difference from last year. Manhattan Beach is seeing a rise in pending sales for singel family homes and townhomes and condos. Townhomes in Manhattan Village are selling in days as opposed to months a year ago. As always the only sure thing about our Beach Cities market is that it is always changing!.

February SOLD for Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo

El Segundo:

Single Family homes: 2 sold with a median price of $854,500. DOM was 36. There are currently 18 pending sales.

Townhomes/condos: 4 sold with an average price of $640,000. DOM was 75. There are 12 pending sales.

Hermosa Beach:

Single Family Homes: 4 sold with a median price of $949,500. DOM was 84. There are 12 pending sales.

Townhomes/condos: 10 closed escrow last month. The median price was $885,000. DOM was 47. There are 8 pending sales.

Manhattan Beach:

Single Family Homes: 23 sold with a median price of $1,880,000. Dom was 53. There are currently 58 pending sales.

Townhomes: 3 sold with a median price of $925,000. DOM was 37. There 15 properties pending.

Redondo Beach

North Redondo:

Single Family Homes: 26 sold with a median price of $760,000. DOM was 68. There are 36 pending properties.

Townhomes/condos: 31 sold with a median price of $730,000 DOM was 58. There are 56 pending sales.

South Redodo:

Single Family Homes: 4 sold with a median price of $820,000. DOM was 106. There are 11 pending sales.

Townhomes: 10 sold with a median price of $953,750. DOM was 41. There are 30 properties pending.

Condominiums: 5 sold with a median price of $465,000. DOM was 100. There are 7 currently pending sale.