Friday, July 27, 2007

South Bay-Beach Cities: On the 10 Most Expensive List

Pier Ave Hermosa Beach

Once again the South Bay-Beach Cities pop up on the list of the 10 most expensive cities in CA in June. Palos Verdes Estates was # 5 on the list..Inventory is very low in PVE at this time. In fact inventory is low all over the hill compared to last year.

Hermosa Beach is on the list once again. After a long dry spell Hermosa is beginning to see an increase in property sales in both homes and townhomes. Manhattan Beach is #9 and Hermosa Beach is # 10. Manhattan Beach home prices are still on the high side compared to Hermosa. You can really see this trend if you are looking for a townhome in the Sand section of either Manhattan Beach or Hermosa Beach.

If you want a Manhattan Beach townhome 1600+ sqft in the Sand section under $1,550,000 there are only two. However in the same price range you can find 15 townhomes in Hermosa Beach that meet that criteria.

Statewide, the 10 cities and communities with the highest median home prices in California during June 2007 were:
Laguna Beach: $1,700,000
Burlingame: $1,637,500
Los Altos: $1,635,000
Newport Beach: $1,615,000

Palos Verdes Estates: $1,542,000
Saratoga: $1,465,000
La Canada-Flintridge: $1,400,000
Mill Valley: $1,395,000
Manhattan Beach: $1,300,000

Hermosa Beach: $1,205,000.

Overall prices were lower then in the past which is both good news and bad news depending whether you are a buyer or seller.

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