Redondo Beach Homes For Sale Market Update 2

Redondo Beach Homes For Sale Market Update 2

Redondo Beach Homes For Sale Market Update

This report is looking at North Redondo Beach homes for sale and the market performance over the first part of 2010. Specifically January through May of 2010.

Today we will look at 5 areas of data. We hope to use this to get an indication of the current health of the market.

There are 5 areas of data we will be taking a look at:

Number of homes listed for sale

Number of homes pending each month, meaning gone into escrow, i.e., an accepted offer

Number of homes sold

The price trend of the homes that have sold

Average days on the market

Looking at the first figure, number of homes listed for sale. This figure appears to be flat, at around sixty new listings month, with the exception of March, where over 80 people put their homes on the market.

As for number of homes gone into escrow, that number appears to be rising, going from around 30 for the first tow months of this year to around 45 or so for the last couple of months.

Number of homes sold: This number also appears to be on the rise. Up to around 50 homes closing escrow last month.

Taking a look at median price, that number appears to be flat, which is a positive sign, considering all this market been through the last couple of years.

Finally, average days on market. This number has dropped significantly over the last few months.

Putting all these numbers together, they show the signs of a healthy market, although we know this market still has a lot of issues to work through.

Based on the current data, we have hopefully found a market bottom here. If so, we will probably stay in it a while. Nevertheless, a flat market is certainly better than what has been occurring in Redondo Beach homes for sale the last couple of years.

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