One Realtor's Take on the SlowdownPosted on Saturday, July 28th, 2007 at 5:27am.
Some highlights from Kaye's telling of the word on the street:
Inventory is rising in the Beach Cities and sales volume is slowing. Some of this is seasonal but lot of the reason for slower sales is that many buyers have set price limits...Kaye also adds a lot of data in graph & chart form in this story, and another one giving some median price data going back to 1970 (not all of it very narrowly drawn).
Home sales ( homes that have closed escrow) are not looking great for July in most of the Beach Cities and are really low in Manhattan Beach...
Buyers and Sellers are just not in the same ballpark on prices. Many sellers are looking at prices from their perceived idea of value not true market value... [Homes that buyers] feel are over that value are just sitting.. often for a very long time...
Bravo, and thanks, Kaye, for the continued explosion of data.
comments powered by Disqus