The topic for this week is a fun one – East Manhattan Beach land sales. I find this an important subject because these sales can demonstrate the aggressiveness of developers or future custom-built homeowners in a specific neighborhood. It is a bet on the future based on past sales, construction costs, and supply. While much of what we can conclude from land sales is still very much speculation, it is a valuable exercise to conduct for parties interested in building or purchasing new construction homes. East Manhattan Beach is relatively easy to breakdown thanks to its fairly simple layout as a giant rectangular grid and focusing on its majority of 7,500 sq. ft. lots. Below we
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Month: January 2023
As we hit our stride in 2023, I am excited to get back to covering some micro-market happenings in the South Bay home market. The past two months, the blog’s focus has revolved around big data, forecasts, and fourth quarter performance. If you are just discovering the blog or missed the last few prints, then here are some highlights below for you to catch-up… “The Best (and Worst) performing South Bay Home Markets of 2022” Always an interesting read to see which submarkets crushed it and which ones underperformed. It might surprise you! “South Bay Real Estate: 2023 Fearless Predictions” My annual post that gets the most clicks, by far, then any other blog topic. Readers
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For a real estate data geek, I love end of quarter statistics in our South Bay home market. The end of Q4 is my favorite because we get to also look at full-year comparisons as we begin the new year. Numbers do not lie, and this new batch of data is eye opening to say the least. We are really seeing the effects of sky-high interest rates cool our local home market significantly. In short, the numbers are ugly. This could be an early sign that we are in for a tough home market in 2023. That, at least, is my humble interpretation of the stats from Q4 over Q4, along with 2022 over 2021. Additionally,
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The first blog post of 2023 – Happy New Year! Excitement, inspiration, and resolutions are all ingredients when starting anew in January. Before I jump into my fearless real estate predictions for 2023, I want to share my resolutions (personal and business) for this year…let’s see if you can all hold me accountable! Here’s to new goals and smashing them in 2023. Now let’s get into my predictions… Market Recap & Past Predictions Our local markets had a wonderfully solid year after two years of unprecedented appreciation. To recap, below are the November trailing-12 YoY appreciation numbers by zip code: While these numbers are not the double-digit appreciation that we have gotten used to, it is
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