Hollywood Riviera Market Update March 19th, 2008

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As of today, there are 20 homes for sale in the Hollywood Riviera.  Of those 20, only 8 are in the Redondo Beach P.O. Box area.  The average price of the 20 homes for sale is $1.275K and the average days on market is 76. 

There are 10 homes pending sale right now (or in escrow.)  That’s a good ratio for our area.  The average price of the 10 in escrow is $1.218K and an average of 60 days on market.

There have been 13 sales (homes sold) since January 1st, 2008.  The average price of those homes is $1.189K and the average days on market of those homes was 53.

All in all, the Riviera is moving along nicely for 2008.  90 homes sold in 2007, and that was an increase over 2006 of +2 homes.  The first quarter of 2008 ends on March 31st – only 2 weeks away.  Typically the first quarter is one of the slowest so, we are not doing too badly at this point.  Strangely, the same date range last year showed the same amount of sales – 13 closed sales happened Jan 1st – March 19th 2007.  We are following along the same path as last year, so considering all the “doom & gloom” news about the real estate market, we aren’t doing too badly.