South Bay-Beach Cities: Sold June 2008

Recreation Park... El Segundo


June was a pretty good month for sales in all the Beach Cities. Manhattan Beach had a good month with a few higher priced sales that bumped up the median home price to $2,025,000. The same happened in Hermosa with the median sold price for ahome at $1,805,000. Townhoome prices in both cities were also up from last month. In Redondo and El Segundo it was rather a mixed bag with prices slightly lower in some areas and higher in others. Entry level homes are moving very slowly in all the Beach Cities as buyers in that range are very skittish about where interest rates are headed.

July sales look as if they will be lower in volume then those in June but pending sales are holding up overall considering all the things that have been happening in the last month. Rates have been bouncing around like crazy... rates can be high in the morning , lower at noon and slightly lower by the end of the day... then back up the next morning. Rates may settle after President Bush signs the new housing/foreclosure bill. The best part of the bill for us will be permanently enacting a higher conforming loan limit for California and other high priced areas. Maybe we will finally see some decent rates for these loans between $417,000 and $729,750. also setting aside money for Fannie and Freddie may calm the markets.

The bad news is that I think we can expect to see more banks hit the skids before the end of the year. The good news is that there are fewer of them in trouble then in the '80's when so many of the S & L's collapsed after making bad commercial loans.



South Bay-Beach Cities: Sold June 2008




South Bay-Beach Cities: Sold May 2008

South Bay-Beach Cities: Sold April 2008

South Bay-Beach Cities: SOLD March 2008

South Bay-Beach Cities: Sold February 2008

South Bay-Beach Cities: Sold January 2008

South Bay-Beach Cities: Sold November 2007

South Bay-Beach Cities: October SOLD 2007

South Bay-Beach Cities: September SOLD 2007

South Bay-Beach Cities: August SOLD 2007

South Bay- Beach Cities: July Sold 2007

South Bay-Beach Cities: Sold June 2007

South Bay-Beach Cities: Sold May 2007

South Bay-Beach Cities: Sold April 2007

South Bay-Beach Cities: Sold March 2007

South Bay-Beach Cities: Sold February 2007

South Bay-Beach Cities: Sold January 2007