For the first time in recent memory a recent check of the Point Fermin real estate statistics reveal there are more single family homes in escrow than there are for sale--could this signal a turning point in the local real estate market? Time will tell, but for now inventory is limited and pending sales are up, up, up!
Point Fermin neighborhood in San Pedro, CA real estate statistics for May 2009:
Active Listings: 8 Single Family Homes are from sale priced from $319,000 to $995,000.
Pending Sales: 9 Properties are in escrow priced from $250,000 to $575,000.
May Sales: 1 Home closed escrow for $370,000.
Previous Palos Verdes and San Pedro Market Reports
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Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
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South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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Our real estate sales are up in Bend Oregon and there are some great buys available in the form of bank foreclosures. It looks like a good time to buy in your area.
Jim, there are some great deals in San Pedro and surrounding coastal areas. Prices and interest rates are both down--and that won't last forever.
Norma, may it be the beginning of a new trend in your area. It has been a busy year for me, but more in giving out information. Guess someone knew why to call it the information age, that seems to be what most want over actually buying the house.