Saturday, August 08, 2009

El Segundo: Sold January-June 2000-2009

El Segundo home sales from January 2000-June 2009....

It has been said that El Segundo is a small midwest town that was magically transported to California sometime before 1940... and that no one has yet told the residents the town has moved. There really is a Main Street and you can almost hear Judy Garland and Mickey Rooney rounding up the gang to stage a musical that is Broadway bound.

Unlike Manhattan, Hermosa and Redondo there are no homes along the beach. El Segundo was planned as a company town by Standard Oil around the turn of the century. The focus for El Segundo was the large Park in the center of town and the Standard Oil/Chevron plant just south of town where for many years almost everyone who lived in El Segundo worked.

Times have changed and today folks who choose to live in El Segundo are usually looking for a quieter lifestyle then is found in the rest of the Beach Cities. There are few tourists crowding downtown on the week-ends. But that may soon change as El Segundo continues to grow and new restaurants are making downtown a trendy dining area.

Real Estate in El Segundo is like the city itself... a market that seems a bit different then the other Beach Cities. While home prices rose as they did in the other Beach Cities, the volume of sales remained much the same until 2008-2009. Inventory and sales have remained surprisingly stable over the last few years. The peak of the market was 2006 with a median value of $904,000. Since then prices have declined to 2004/2003 levels.

El Segundo: Sold January-June 2000-2009 (click on graph to enlarge)

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