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SEPTEMBER 2013

FEATURED PROPERTIES

In August The California Association of Realtors released their report on California existing home sales and median prices for July. "The statewide median price increased by 29.8% to $433,760 over the 12 months ending in July. In comparison, the national median price for an existing single-family home was $203,500 (2q13), up by 12.2% from a year earlier. July marked the seventeenth consecutive month to post a year-over-year increase in median price." *

Please take time to review the information on our local sales below.

Should your plans include real estate purchase and sales, please call or email with questions - and as always, thanks for your referrals!

*Source - e-EDGE: v.17 n.33 Released August 26, 2013 / Kimberly Ritter-Martinez

David White
Office: 310-546-7611 ext. 398
Cell: 310-916-1533
BRE # 01357398
Email Me
My Website

Money Watch

July 22, 2013

Why There's No Housing Bubble...Yet

Tight inventory, pent-up demand and investors supporting demand

Jed Kolko, chief economist at real estate site Trulia, compared current prices with historical prices, incomes, and rents, and found that home prices were 7% undervalued in the second quarter, compared with being overvalued by a peak of 39%, which was hit in the first quarter of 2006. "Even with the recent price increases, home prices nationally remain undervalued relative to fundamentals and much lower than in the last bubble. That's why today's price gains are actually still a rebound, not a bubble." Full Article...

Real Estate News and Custom Data
Southland Home Sales Jump in July

August 14, 2013

Southern California home sales surged in July, rising to an eight-year high for that month as buyers found more homes for sale. The median sale price held steady with the prior month but rose nearly 26 percent from a year earlier, marking the seventh consecutive month with a year-over-year gain exceeding 20 percent, a real estate information service reported. Full Article...

See chart for Beach Cities / West LA Area Sales through July 2013

California Home Sales and Median Prices

August 26, 2013

The California Association of Realtors released their report on California existing home sales and median prices in July. The statewide median price increased by 29.8% to $433,760 over the 12 months ending in July. In comparison, the national median price for an existing single-family home was $203,500 (2q13), up by 12.2% from a year earlier. July marked the seventeenth consecutive month to post a year-over-year increase in median price. Full Article...

Source - e-EDGE: v.17 n.33 Released August 26, 2013 / Kimberly Ritter-Martinez

Existing Home Sales up 6.5% as Housing Recovers

Tim Mullaney, USA TODAY, August 21, 2013

Existing home sales rose 6.5% in July, the National Association of Realtors said, as median prices were 14% higher than July 2012. Existing home sales rose 6.5% in July, reaching their highest level in nearly four years, the National Association of Realtors said Wednesday.

Homes sold at a 5.39 million seasonally adjusted annual rate, the group said, handily beating economists' forecasts of a 5.15 million sales pace. The sales rate was up 17% from the same month last year, and the highest since November, 2009.

Full Article...

Report: Recovery Influencers Betting on Different Markets

Krista Franks Brock, September 5, 2013

When looking at the housing recovery through the lens of prices, we appear to be well on our way. However, according to economists at online real estate marketplace, Trulia, prices are only half of the picture.

"A full housing recovery requires rebounds in both prices and new construction," Trulia stated Thursday. Full Article...

Current Home Loan Rates

Click here for the latest 30 year fixed, 30 year FHA loans, 5/1, 7/1, and 10/1 ARMs. If you would like to be connected with a lender who will provide details on qualifying for a loan that will meet your needs, don't hesitate to call.

Source: Grant Norris, RPM Mortgage, September 9, 2013

Median Home Sale Figures:

Jan - Aug 2012 vs

Jan - Aug 2013

Note: This is a year over year chart of statistics, comparing the time period of January - August 2012 vs January - August, 2013. High demand for moderately-priced homes coupled with fewer distressed sales in those communities continues to push median home prices in North & South Redondo and El Segundo higher.

Manhattan Beach had strong gain for single family homes and condos over 11 % and 14% respectively. Hermosa Beach was the only city to see a slight decline in home sales (less than one percent) while condo sales increased almost 15%.

Click here to see the percentage gain or loss for the median sales price of single family, condos or townhomes in our local beach cities. Also included, the percent change in sales price year over year and the number of annual sales in each category 2012 vs 2013.

*Data pulled from MLS does not reflect off MLS sales.

Housing Market Update for

South Bay Cities

February 2012

through August 2013

Statistics for the nine cities listed below have five data sets representing:
(1) Single Family Residences

(2) Condos and Townhouses

Each data set will address:
1) Median sold (closed) vs list price comparison
2) Number of closed sales per month
3) Number of properties for sale (available) per month
4) Number of properties under contract (in escrow) per month
5) Listing status comparison by month comparing the number available listings vs listings under contract vs closed listings.

El Segundo

Click below for detailed charts:

Single Family

Tuesday, September 17, 2013

South Bay Vision newsletter

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