South Bay Home Values Are Rising

South Bay real estate market is changing.  After a long period of sliding home prices, we finally see prices stabilizing and rising.  This is a welcome news for homeowners and potential home sellers.

Foreclosure numbers are down and overall inventory of homes for sale is extremely low.  A lot of buyers who sat on sidelines, are now getting back in the market, creating more demand.  Prices are not going down anymore and it really seems to be a great time to buy, according to many experts.  Interest rates are very low.  Low home prices and interest rates will not last for long.  A lot of buyers see that, which results in low inventory and multiple offer situations whenever a good listing hits the market.

We’re hoping that this new year 2013 will bring lasting real estate recovery!

If you’d like a Free home evaluation of your home, contact me anytime 310-918-5027 or info@isellsouthbay.com.

 

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Southern California Real Estate Market Update

Home sales in Southern California shot up again in March 2012 when compared with the same period 12 months ago.  Median price dropped by 4.4 percent in Los Angeles county, but went up in other counties – Riverside and Ventura.  Below is the chart illustrating in detail the home sales and median prices in all Southern California counties:

Sales Volume Median Price
All homes 11-Mar 12-Mar %Chng 11-Mar 12-Mar %Chng
Los Angeles 6,590 6,772 2.80% $320,000 $306,000 -4.40%
Orange 2,615 2,856 9.20% $430,000 $400,000 -7.00%
Riverside 3,843 3,756 -2.30% $198,000 $200,000 1.00%
San Bernardino 2,544 2,512 -1.30% $150,000 $150,000 0.00%
San Diego 3,063 3,237 5.70% $325,000 $320,500 -1.40%
Ventura 757 820 8.30% $349,000 $350,000 0.30%
SoCal 19,412 19,953 2.80% $280,500 $280,000 -0.20%

Please contact your local Realtor – Krystyna Baty – at (310)918-5027 or via email at info@isellsouthbay.com for your local market update or Free home evaluation and Seller Consultation.  Ask me about our Century 21 worldwide marketing platform.

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Los Angeles County Real Estate Sales and Prices

South Bay and Los Angeles county real estate market is changing.  The inventory is very low but, despite the constraints of the low levels of homes available for sale, home sales are up.  Multiple offers on well priced homes are common again.

If you’ve been holding off with putting your house for sale, right now might be a good time to do it.  Since every market is different, you’ll need a Realtor to evaluate your local market.

 

 

Here are the latest statistics for Los Angeles county:

Sales Statistics             for LOS ANGELES County CA
Realist’s most recent sale date for LA county is  04/24/2012
Single Family Residence
Time Period Number of Sales Median Sale Price
Mar 2012 4,660 $318,000
Mar 2011 4,532 $325,000
Feb 2012 3,673 $306,000
Feb 2011 3,270 $320,000
2012 YTD 13,887 $311,000
2011 50,590 $320,000
Condominium
Time Period Number of Sales Median Sale Price
Mar 2012 1,529 $272,000
Mar 2011 1,593 $300,000
Feb 2012 1,189 $275,000
Feb 2011 1,109 $300,000
2012 YTD 4,512 $266,000
2011 16,024 $287,500

Call 310.918.5027 or email info@isellsouthbay.com for your local market report or your Free home evaluation.

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South Bay CA Median Home Sale Price Report

This report is for selected South Bay cities.  It shows median home prices for sales recorded in January 2012 and price changes of the year over year basis.  Median prices in South Bay area dipped in 29.66 percent in Hermosa Beach,  6.74 percent in Torrance, 13.58 in Redondo Beach.

Please refer to the table below to view detailed information on median sale prices,  prices changes for selected areas in the South Bay:

County/City/Area # Sold Jan 2012 Jan 2011 % Chng Yr-to-Yr
HERMOSA BEACH 13 $765,000 $1,087,500 -29.66%
MANHATTAN BEACH 18 $1,400,000 $1,500,000 -6.67%
RANCHO PALOS VERDES 22 $737,500 $740,000 -0.34%
REDONDO BEACH 52 $569,500 $659,000 -13.58%
TORRANCE 86 $429,000 $460,000 -6.74%
SAN PEDRO 38 $272,500 $337,500 -19.26%

Please contact Krystyna Baty at (310)918-5027 or via email info@southbayhousevalues.com  if you want a Free home evaluation and your specific area report.

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