The market appears to be holding steady. The number of new listings for this past week, at 68, is the same as the prior week. The total number of active listings stands at 767, down from 780 the previous week. Closed sales jumped up to 61 from 39, though new escrows actually tapered off to 64. There are now 405 homes in escrow. Given the lack of change in year-to-date median prices over the last few weeks, I will skip the calculation this week and revisit this next week.
The least expensive closed sale for the period was a two bedroom condo on Camino Real in Redondo Beach. It was significantly below the most expensive sale which turns out to have been $7.334 million for a strand home in Manhattan Beach (right next door to the one that I used to own). My old neighbors had owned it for about 12 years. It had a total of just under 4,400 sq. ft. of living space.
Distressed sales backed down from eight to four this last week. This does not include the three probate sales.
Only two of the 61 closed sales were of new homes. It will probably remain this low for the next few months or longer.
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Posted by Tony Cordi 
The Blog for Beachtime Realty 