Sunday, October 28, 2007

South Bay-Beach Cities: Market Snapshot 55+ September Sold 2007

Tradewinds: 55+ Torrance CA

The 55+ real estate housing market in the South Bay is pretty consistent. Inventory is stable as are the number of sales each month. While financing doesn't play a large part in this market.. as most seniors tend to pay cash for a new property.... many 55+ buyers are waiting for their homes to sell before purchasing a new property.

Village Court is basically sold out and re-sales are beginning to appear. Courtyard Villas has sold most of their units. The Meridian also appeasr to have sold most of the units as there are not many remaining on the MLS.

There are two new 55+ projects in North Redondo Beach. Scott Anastasi has a new project called Breakwater Village. Scott built Village Court and he does a nice job. I was by Breakwater Village today and they are getting close to having models available for previewing. It looks like a very nice development. It is off Inglewood Avenue and close to the Galleria.

The other new complex is The Montecito. Thee are going to be on and two bedroom units.. on the small side.. 2 bedrooms are under 1100 sqft. The are going to be on the corner of Green and Artesia in North Redondo. They are supposed to be available this fall for pre-sale but these are 5-6 months out from being ready.

South Bay- Beach Cities: Market Snapshot 55+ September 2007

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