Trending This Week | 01.14.2013

LOCAL MARKET TRENDS 2013

 

Trending this week, January 14th 2013… 

 

Hermosa Beach 90254

The median list price this week is $1,344,500.  Asking price per square foot is on an upward trend while days-on-market has been trending down, which is a positive near-term outlook for the market.  Relative to supply and demand, the market continues to get hotter.  More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices.  Current supply and demand levels show no sign of prices changing from their current trend.

YoY Median Price

YoY Median Price

YoY Days on Market

YoY Days on Market

Manhattan Beach 90266

The median list price this week is $1,704,250.  Inventory has been lighting lately with days-on-market increasing.  Relative to supply and demand, the market continues to get hotter.  More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices.  Current supply and demand levels show no sign of prices changing from their current trend.

YoY Media Price

YoY Median Price

YoY Days on Market

YoY Days on Market

South Redondo Beach 90277

The median list price this week is $1,087,500.  Demand is increasing and days-on-market is trending downward even as more properties come available – these are positive trends for the market.  Relative to supply and demand, home sales have been exceeding new inventory for several weeks.  Market prices are not yet moving higher as excess inventory is consumed, perhaps pointing to a “buyer’s market.”  However, as the supply and demand trends continue, the market moves into the “seller’s zone,” and we are likely to see upward pressure on pricing.

YoY Days on Market

YoY Days on Market

YoY Median Price

YoY Median Price

North Redondo Beach 90278

The median list price this week is $625,000.  Days-on-market are decreasing, but overall there are no strong signals for the direction of the market.  Relative to supply and demand, the market has been consistently cool for several weeks.  Demand levels are low relative to available inventory.  As prices continue to fall, it may be a “buyer’s market.”

YoY Days on Market

YoY Days on Market

YoY Median Price

YoY Median Price

Palos Verdes Estates 90274

The median list price this week is $2,150,000.  Conditions point to mildly negative trends for the market with overall demand falling along with supply.  Relative to supply and demand, the market is getting cooler – more supply is coming on the market relative to the sales demand.  However, in recent weeks, prices have been moving higher.  This price trend may be a result of improved quality (newer, larger) of the homes being listed.  Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.

YoY Median Price

YoY Median Price

YoY Days on Market

YoY Days on Market

Rancho Palos Verdes 90275

The median list price this week is $1,199,000.  Inventory has been lightening lately and the days-on-market are increasing – these are mildly positive indicators for the market.  Relative to supply and demand, the market continues to get hotter.  More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices.  Current supply and demand levels show no sign of prices changing from their current trend.

YoY Days on Market

YoY Days on Market

YoY Median Price

YoY Median Price

Rolling Hills 90274

The median list price this week is $3,750,000.  Inventory has been lightening lately and the days-on-market are increasing – these are mildly positive indicators for the market.  Relative to supply and demand, home sales have been exceeding new inventory for several weeks.  However, prices have not yet stopped falling.  If the market is in the “seller’s zone,” expect prices to level off very soon.  Should the sale trend continue, expect that prices could climb from there.

YoY Days on Market

YoY Days on Market

YoY Median Price

YoY Median Price

Rolling Hills Estates 90274

The median list price this week is $1,624,000.  Inventory has been lightening lately and the days-on-market are increasing – these are mildly positive indicators for the market.  Relative to supply and demand, homes sales continue to outstrip supply so watch for upward pricing pressure in the near future to see if the trend continues.

YoY Days on Market

YoY Days on Market

YoY Median Price

YoY Median Price

 

REAL ESTATE DATA PROVIDED BY ALTOS RESEARCH LLC. ALL INFORMATION CONTAINED ABOVE & HERIN IS BASED ON PROPERTIES CURRENTLY LISTED FOR SSALE AND AVAILABLE PUBLICLY. THE DATA PRESENTED IN THIS REPORT IS ACCURATE TO THE BEST OF OUR KNOWLEDGE, BUT CANNOT BE GUARANTEED AS SUCH. REPORTING DATED JANUARY 14TH, 2013. NOTHING IN THIS REPORT OR ANY OTHER REPORT IN THIS MAGAZINE IS A RECOMMENDATION TO BUY OR SELL REAL ESTATE.