Although April sales in many areas of Southern California were down significantly, April home sales in the South Bay-Beach Cities were a bit of a mixed bag. Some Cities were about the same as previous years while others did see a significant slip in numbers.
May sales are looking to be a bit better than last month for many Beach Cities. Hermosa Beach is going to be the May winner with more sales than they have seen in the last few years. I expect to see similar sale numbers for the rest of the year.. some months good and some not so good depending on the city and the inventory mix. Prices are also bouncing around in the Beach Cities. As usual prime properties near the water are holding value better than those across the highway.
One of the biggest challenges the South Bay -Beach Cities are going to face in the fall is that the conforming loan level... currently $729,750... is going to fall. I expect to see conforming loans at $645,000 but there is a real possibility that they may drop lower. I'll be writing a post about the consequences of this action soon.
South Bay-Beach Cities: Sold April 2011
No comments:
Post a Comment