Summer is nearing the end and with school in full swing we are seeing things start to pick up in the Real Estate market! Here are some of the trends we are seeing around the South Bay/Beach Cities.
In Manhattan Beach, the market has achieved a relative stasis point in terms of sales to inventory the last few weeks. However, inventory is still sufficiently low keeping us in the Seller’s Market zone.
In Hermosa, the market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low which continues to help prices hold.
As for Redondo, the market has been cooling off a bit in recent weeks, as more homes are available and the demand has decreased. We’ll be looking for a persistent downward trend. If we see a persistent trend we may expect to see downward pressure on prices.