OCT 2013 SINGLE FAMILY HOMES
Property Sales
October property sales were 23, down from 34 in October of 2012 and equal to 0.0% 23 sales last month. October 2013 sales were at a mid level compared to October of 2012 and 2011. October YTD sales of 311 are running 8.7% ahead of last year's year-to-date sales of 286.
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Prices
The median sales price in October was $830,000, up 12.9% from $734,950 in October of 2012 and down -5.1% from $875,000 last month. The average sales price in October was $941,348, up 11.4% from $844,803 in October of 2012 and down -10.6% from $1,052,848 last month. October 2013 ASP was at highest level compared to October of 2012 and 2011.
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Inventory & MSI
The total inventory of properties available for sale as of October was 71, up 31.5% from 54 last month and up 73.2% from 41 in October of last year. October 2013 Inventory was at a mid range compared to October of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2013 MSI of 3.1 months was at a mid range compared with October of 2012 and 2011
Market Time
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer's market, a downward trend a move towards more of a seller's market. The DOM for October was 30, up from 25 days last month and down from 54 days in October of last year. The October 2013 DOM was at its lowest level compared with October of 2012 and 2011.
Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The October 2013 selling price per square foot of $512 was down -15.9% from $609 last month and up 9.9% from $466 in October of last year.
Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer's market exists, a ratio at or above 100% indicates more of a seller's market. The October 2013 selling price vs list price of 98.8% was down from 99.8% last month and up from 98.6% in October of last year.
Check out the latest Redondo Beach real estate listings for sale at: http://www.santamonica-realestate.com/idx/city/redondo-beach/
CALL RYAN SCARZONE AT (310)488-0184 FOR ALL OF YOUR REAL ESTATE NEEDS!
RYAN SCARZONE
(310)488-0184
REALTOR
COLDWELL BANKER
BRE#01910272
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Based on information from California Real Estate Technology Services for the period 1/1/2005 through 10/31/2013. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.
