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California Home Sales Gain Steam

June 26, 2015 by RedondoBeachRealEstateOnline.com Leave a Comment

rising real estate pricesCalifornia pending home sales gain steam to post six straight months of annual gains

Market continues strong with home prices stabilizing.

Beach Cities market continues strong with home prices stabilizing.  Pending home sales posted their 6th straight annual gain.

C.A.R. released the real estate market report showing similar trend in California:

Pending home sales data:

• California pending home sales were up 12.1 percent on an annual basis from the revised 110.3 index recorded in May 2014, marking the sixth straight month of year-to-year gains and the fourth straight month of double-digit advances.

• Statewide pending home sales fell in May on a month-to-month basis, with the Pending Home Sales Index (PHSI)* decreasing 4.6 percent from a revised 129.6 in April to 123.6, based on signed contracts.  The month-to-month decrease was below the average April-May loss of 3.6 percent observed in the last seven years.

• A shortage of available homes in the San Francisco Bay Area stifled pending sales in May, pushing the PHSI to 135.1, down 1.1 percent from 136.6 in April and down 2.4 percent from the 138.5 index recorded in May 2014.

• Pending home sales in Southern California reversed last month’s decline to rise 1.6 percent in May to reach an index of 105.4, up 12.5 percent from the May 2014 index of 93.7.

• Central Valley pending sales fell in May after three straight months of increases, dropping 16.1 percent from April to reach an index of 108.4 in May but up 18 percent from the 91.9 index of May 2014.
Equity and distressed housing market data:

• The share of equity sales – or non-distressed property sales – edged up further in May to make up 92.6 percent of all home sales, the highest level since late 2007. Equity sales made up 91.8 percent of all home sales in April and 88.8 percent in May 2014. The share of equity sales has been at or near 90 percent since mid-2014.

• Conversely, the combined share of all distressed property sales (REOs and short sales) fell in May, down from 8.2 percent in April to 7.4 percent in May.  Distressed sales made up 11.2 percent of total sales a year ago. Twenty-seven of the 43 counties that C.A.R. reported showed month-to-month decreases in their distressed sales shares, with Glenn having the smallest share of distressed sales at 0 percent, followed by San Mateo (1 percent), and Santa Clara (1 percent).  Mariposa had the highest share of distressed sales at 18 percent, followed by Siskiyou (17 percent), and Mendocino, Merced, Plumas, and Yuba (all at 16 percent).
May REALTOR® Market Pulse Survey**:

• In a sign of stabilizing home prices, the share of sales closing below asking price has been on a downward trend for four straight months. One in four (40 percent) transactions closed below asking price in May, down from the highest point of 55 percent in January 2015.  More than a third of homes (34 percent) closed over asking price, and 26 percent closed at asking price.

• The premium paid over asking price declined in May, suggesting diminished market competition among home buyers. In May, homes that sold above asking price sold for an average of 8 percent above asking price, down from 10 percent in April but up from 6.5 percent in May 2014.

• Homes that sold below asking price sold for an average of 7 percent below asking price in May, down for the first time in four months.

• The share of properties receiving multiple offers fell for the first time in four months. Sixty-five percent of properties received multiple offers in May, down from 72 percent in April and up from 62 percent a year ago.

• The average number of offers per property decreased for the first time in three months, slipping from 3.6 in April to 2.8 in May.

• Floor calls, listing appointments, and open house traffic were all up in May, compared to the previous month, suggesting a solid summer home-buying season.

• While the majority of REALTORS® (86 percent) expect better or similar market conditions over the next year, the percentage of REALTORS® who are optimistic about conditions over the coming year has been on the decline for the past four months from 62 percent in January to 41 percent in May.

It’s important to remember that all markets are different. If you’re thinking about selling, contact your local expert – Krystyna Baty – for a Free home evaluation. Call Krystyna at (310)918-5027 or email info@isellsouthbay.com.  I’ll be happy to help you!

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Filed Under: Buying, Market Reports, Selling Tagged With: beach cities, free home evaluation, home prices, home sales, real estate, redondo beach

Redondo Beach Real Estate Half Year Report

July 3, 2014 by RedondoBeachRealEstateOnline.com Leave a Comment

RBmedianpriceRedondo Beach Market Report for Jan – June 2014

In the first six months on this year, we recorded another period of home price increase.  Home sales were slightly slower Y-O-Y, mainly because of the very low inventory of homes for sale in Redondo Beach CA.  Here is the selling price and sales breakdown and how they compare to the same period last year (this data is for single family homes only):

Total of 171 single family homes sold in first six months of this year compared to 191 a year ago (10% drop); Average price was $953,968 compared with $911,851 last year (5% price increase).  Lowest priced house sold for $525,000; highest $3.9M;  Last year the lowest prices house sold for $440,000; the highest for $4.2M. This year the number of foreclosures is very small in Redondo Beach and other beach cities. Redondo Beach real estate market remains to be the seller’s market.  Shortage of homes for sale results in buyers often competing for homes, putting sellers in a “driver’s seat”.

Real estate market is local, prices and sales vary from neighborhood to neighborhood.

Contact me anytime at (310)918-5027 or email info@isellsouthbay.com for your Free home evaluation.

Median Price of homes in Redondo Beach, CA. Measured on January 24 2014.

Inventory of homes in Redondo Beach, CA. Measured on January 24 2014.

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Filed Under: Market Reports, Redondo Beach Real Estate & Lifestyle Tagged With: free home evaluation, home prices, home sales, market report, real estate, redondo beach

Redondo Beach Real Estate Market Update – Real Time Market Data

October 17, 2012 by RedondoBeachRealEstateOnline.com Leave a Comment

Redondo Beach real estate market is changing rapidly from buyer’s market to seller’s market.  Home sales are up while the inventory of homes for sale is low.  Combination of lower foreclosures and homeowners without much equity not willing to sell right now while many buyers are coming back to the market and take advantage of very low interest rates, creates the new phenomenon – homes get snatched by the highest bidder.   Multiple offers are commonplace in this market.   Below is the current Redondo Beach real estate date, trends, graphs illustrating this changing real estate market.

Redondo Beach median home price is trending up – below is the real time trend updated daily

Median Price of homes in Redondo Beach, CA. Measured on January 24 2014.
Redondo Beach price per sq ft trend is illustrated in this graph below:
Price Per Square Foot of homes in Redondo Beach, CA. Measured on January 24 2014.
 
Redondo Beach inventory of homes for sale is low – see the real time information below:
 
 Inventory of homes in Redondo Beach, CA. Measured on January 24 2014.
 
Thinking of selling your Redondo Beach home?  Please call 310.918.5027 or email info@isellsouthbay.com anytime for a quick and free home evaluation.  If you prefer, we can do it online, without talking to an agent.  We’ll send you the Free report directly to your inbox.
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Filed Under: Buying, Market Reports, Selling Tagged With: free home evaluation, home prices, homes for sale, market update, real estate market, redondo beach

Krystyna Baty

Krystyna Baty, Realtor
Krystyna Baty - Your Local Expert
Broker Associate
The Real Estate Group
310.918.5027
batyrealestate@gmail.com
www.ISellSouthBay.com
BRE Lic # 01485187

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Krystyna M Baty

Broker Associate
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BRE Lic 01485187
Direct: (310)918-5027
batyrealestate@gmail.com

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