Manhattan Beach Real Estate-Redondo Beach Townhomes: South Bay-Beach Cities: Sold May 2008

The Mermaid in Hermosa....
Back on the market ..asking price $25,000,000

Sales in the Beach Cities are not spectacular but they do seem to be fairly steady. North and South Redondo saw townhome sales almost double in May. Manhattan Beach saw roughly the same number of sales as the previous month with townhome sales increasing although home sales were less the April numbers. All the Beach Cities are seeing increases in pending sales so the numbers over the next 60 days should remain fairly stable.

Interest rates are bouncing all over the place. Last week's Bank Rate Index experts thought rates might go down but so far they are not reacting as the market had expected. Threats of bombing Iran and $200 oil prices tend to muddy the waters just a tick.

Despite all the angst in the marketplace our little slice of heaven just seems to go along with out any major disasters. Prices are definitely down but not in freefall. Sales are slow but seem to be pretty steady averaging about one per day in most cities. Looks as if even the entry level homes are begining to see some movement. Builders are still out of the market giving entry level buyers an opportunity to purchase without competition from them.

If we stay out of a new war zone, get a grip on energy prices and keep the economy on a level keel we may just weather this storm intact... or at least that's the theory.

South Bay-Beach Cities: Sold May 2008