Redondo Beach Homes For Sale Market Update 3

Redondo Beach Homes For Sale Market Update

In this report we will be taking a look at North Redondo Beach homes for sale and the market performance over the first part of 2009 vs. 2010. Specifically, we will be looking at the months of January through May of each year.

Today we will look at 5 areas of data. We hope to use this to get an comparison of the strength of the market this year vs. last year..

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. There are actually more people putting their homes on the market so far this year, although that number has been falling recently.

As for number of homes gone into escrow, that number is up this year over last year, with each year exhibiting the seasonal trend of rising number of homes going into escrow in the spring months.

Taking a look at number of homes sold, the number was flat last year, versus steadily rising this year, a positive sign for the market.

As for median price. The number is flat is both years from January through May, with the numbers up slightly for this year.

Finally, a comparison of average number of days on the market for each home sold, last year was relatively flat, while this year it has been dropping substantially.

Overall, we see the numbers looking healthy but buyers still very skittish, as they should be. Hopefully we are finding a market bottom here, although we will probably be here for a while.

by: TobyKesser

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