South Bay Real Estate Market Analysis
January 2010
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Prepared by Ron Becker/RBInnovations Appraisals
214 Pearl St, Redondo Beach, CA 90277 (310) 540-6829 / (Ron@southbayhomecenter.com)
Including:
This report covers the south bay data as of the end of 2009. Median sales prices for the overall nine city area for 4th Quarter of 2009 continued the rebound from the bottom (below):
The Median price per square foot paid for sold properties also ticked up for Q4 2009 (below):
Next is a look at prices per square foot paid for condos and homes in the nine city area above and below the $1 million mark. The lower end of the market appears to be rebounding a bit better than the million plus end (below):
Below is the price paid per square foot for sold houses and condos in selected markets:
Next is a look at median sales prices for the beach cities
(Manhattan, Hermosa and South Redondo), peninsula (RPV, PVE, RHE and RH),
and inland cities (El Segundo, North Redondo
and Torrance). The peninsula looks like it had a better bounce than the
other two markets in Q4:
Next is the median price per square foot for the same markets. For Q4, the inland areas price per square foot looks flat while the other two markets increased:
Next are individual markets as compared to the overall south bay in median sales prices. Hermosa came down a bit in median sales prices (next chart):
The median price rate of change for Palos Verdes Peninsula (Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes and Palos Verdes Estates) bounced back a little quicker than the overall south bay market for the fourth quarter 2009 (below):
Torrance (next chart) was flat in Q4:
South Redondo pulled back a bit in Q4 (below):
North Redondo kept pace with the overall south
bay market in the fourth quarter (below):
I hope you’ve enjoyed the study. Thank you for all your referrals. Please contact me at (310) 540-6829 or at ron@southbayhomecenter.com with any appraisals or questions. This study is intended to be used in assisting real estate professionals and homeowners throughout the south bay. It includes single family residences and condos only, and is based on my MLS research. The data is deemed to be reliable, but not guaranteed.