Real Estate Market Update

    First, we would like to extend our greatest sympathy to those who have suffered losses and also those who remain threatened by the devastating wildfires throughout California. We are grateful for all of the firefighters, medical personnel, volunteers, and first response teams who continue to fight the fires and deliver aid. The recent events in the U.S. and around the world are a sobering reminder of the importance of community, and we at Perisson hope to do our part to continue to provide value to our friends and neighbors.

    The real estate market continues to remain strong in our area.  In September, the Average Sales Price for all residential properties in The South Bay increased slightly to $1,003,212 from $938,639 in August.  The Average Days on Market held steady and 27 and the Average Price Per Square Foot increased to $560 from $528. In Manhattan Beach, the Average Sales Price decreased from $3,304,180 in August to $2,938,094 in September and the Average Days on Market increased from 39 days in August to 42 days in September. The Average Price per Square foot increased from $1,178 in August to $1,305 in September.

    Median Sold Price of Single-Family Homes

    Region Aug-17 Jul-17 Aug-16 MTM% YTY%
    California $   565,330 $   549,460 $   527,490 2.90% 7.20%
    The South Bay $   726,000 $   687,750 $   685,000 5.60% 6.00%
    Manhattan Beach $2,565,000 $2,525,000 $1,830,000 1.60% 40.00%


    *MTM% = Percent change from prior month.

    **YTY% = Percent change from prior year.


    If you are planning to sell in the near future, please call me to discuss the ins and outs of selling a house, including:

    • Overview of timeline and costs
    • Preparing a Home for Market
    • Repairs and Improvements
    • Disclosures & Risks
    • Pricing Your Home
    • Evaluating & Negotiating Offers

     

     

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