Beach Living Group Real Estate

NORTH REDONDO BEACH MARKET UPDATE APRIL 2019 MARKET SLOWDOWN? What market slowdown? It’s a Strong Seller’s Market. Home sales continue to outstrip supply and the Months of Housing Inventory is down to 1 month. This is a Seller’s market so watch for upward pricing pressure in the near future as the trend continues. ... Reading all the articles about a market slowdown and the coming emergence of a Buyer’s Market, was off to say the least. We’re seeing a market similar to where we were about a year ago. So what happened? Mortgage Interest Rates slid down to see some of the largest drops in the last ten years. In April, Buyers were quoted in the low 4s on 30 year fixed jumbo loans and in the 3s on the 7/1 adjustable rate mortgage loans with 20% down and good financials. As the rates crept up around 5%, there were fewer Buyers out there that were interested. Now in the lower 4%, there’s plenty of buyers. Another contributing factor, is that rents are still very high and there’s not a lot of places to rent. So, sales are up. There were a total of 15 Single Family Residence closed sales in North Redondo Beach during April. This compares exactly to March which had 15 as well. Compared to Q1 of 2018 SFR sales are slightly higher this year than last year. Like I was saying, what slowdown? See more

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HOLLYWOOD RIVIERA MARKET SNAPSHOT for APRIL 2019