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For those of you that do not follow me on social media channels such as Instagram or are not subscribed to our mailing list, I will share some quick Hermosa Beach data before getting to the topic at-hand. Additionally, for those individuals that do want access to more market data, each quarter I film a South Bay quarterly report with juicy data on my IGTV, which can be found here. Hermosa Beach Year-Over-Year Data The city of Hermosa Beach had its first median price drop in almost five years. Year-over-year for 2019, price data shows a median decline of 3.34% or a $57,000 pull back when compared to 2018 prices. Much of the decline, if not
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The new year is just beginning, and the early trends of 2020 will start to reveal themselves in the next couple of weeks. This week I wanted to give a broad-brush stroke of the Palos Verdes Hill. If you read last week’s blog, you know that South Bay median prices are down year-over-year. In case you missed it, you can read the past blog here. Also, a few months ago I wrote a blog post titled, “Palos Verdes Luxury Property: Years to Sell & Huge Discounts,” so for those who read that blog, you would know that many Palos Verdes luxury properties are having a tough time selling. To reiterate last week’s information, when you split
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We are starting to gear up here at Manhattan Pacific Realty for the upcoming busy Spring selling season. It is busier than normal with a lot of clients starting to plan in January to execute on their 2020 real estate goals. Inventory is still a bit slow to come and I will get back to writing about specific cities and pockets soon. For now, the most important and influential data is the year-over-year price performance in 2019. Normally, I do not discuss quarterly or yearly data in the blog as I tend to share that information on my IGTV page and quarterly mailer. That said, it feels very relevant for the blog presently as there has
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Happy New Year South Bay residents and to all of our loyal weekly readers! I hope everyone’s 2020 is off to a great start and you are feeling as excited and inspired as ever. Just like every year, I am ready to make my annual “fearless predictions” for South Bay real estate and the greater Los Angeles area. This is one of the trickiest years ever to make predictions, but if it was easy, then everyone would do it. Before we jump into my predictions, however, I want to give a little background on where the market has been this past year. Real Talk: The Market is Soft The California state housing market is up. The
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