South Bay Digs Magazine

It seems like every other conversation I’m having these days with local real estate professionals centers around the topic of “off market” inventory. For our purposes, we refer to “off market” as the properties that are not listed in the Multiple Listing Service (MLS) but are actively for sale in the local market. While this is a subject of much debate, the “off market” inventory in the Beach Cities in the South Bay may be as high as 10% of total available listings for sale at any given time. What is for certain in today’s real estate market is that there are more buyers than sellers, inventory is still low and prices seem to be edging up. As we get into Spring, the market should give us a good indication if inventory will loosen up, but I’m starting to feel that the tide may be turning.

Real estate statistics, they’re everywhere. Home consumers are “armed and dangerous” when it comes to local market trends, as an endless barrage of real estate data is widely available at every turn. If you’re a buyer / seller and agonizing over real estate pricing data and what it all means—relax. What are you looking for? – Gregg Good deal? Place to live? A lifestyle? Place to raise your kids? Easterbrook Whatever your real estate goal, it’s the emotion that counts most.

Can you believe we are in the “home stretch” in 2012? It seems as though time speeds up when October arrives. For those that think the local real estate market shuts down during the Holiday Season — think again. The last three years have averaged over 100 sales per month during the 4th quarter when looking at closed sales for Single Family Residences sold in zip codes (90266, 90254, 90277, 90274, & 90275.) Additionally, closed sales in October 2012 are up 67% versus October 2011 and 11.6% overall in 2012, (Jan. – Oct.).

This issue marks our 2nd Anniversary of South Bay Digs Magazine! In just two short years, South Bay Digs has become the largest and most influential, 100% targeted real estate lifestyle media platform serving the affluent coastal neighborhoods of Manhattan Beach, Hermosa Beach, Redondo Beach and the Palos Verdes Peninsula. DIGS was born in the “Digital Revolution,” — a time when disruptive and transformational shifts were redefining the media landscape. Our mission was to align ourselves with the forces of change and build out the ultimate “next generation” media platform that would redefine the local real estate experience.

The South Bay is the ultimate Southern California Lifestyle destination. This issue we SPOTLIGHT the Palos Verdes Peninsula and its “Sweeping Views and Rich History.” Palos Verdes is also home to five wonderful golf courses. As part of our local history LOOKING BACK article, we re-visit “Malaga Cove: Old-World Charm.” On the COVER this issue is an “Unforgettable Beauty” in Manhattan Beach. With an inspired and upscale design, this 4 Bed, 4.5 Bath home has it all.

Despite a continued lack of inventory of homes for sale in the Beach Cities and Palos Verdes, the aggregate year-to-date closed sale numbers are tracking up with a total of 76 increased sales transactions as compared to the same time period in 2011. Rolling Hills Estates stands out with 67 closed sales year-to-date versus only 29 over the same time period last year.

After delving into this year’s real estate statistics with earnest, one trend stands out – a lack of inventory. If you look at the aggregate “Months of Inventory” for the cities of Manhattan Beach, Hermosa Beach, Redondo Beach, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills & Rolling Hills Estates – inventory is down to 3.16 months in August, (the lowest in 4 years.) Manhattan Beach has also reached a four year low of 2.11 ”Months of Inventory” this past August.