Where Sales Are Slowing

Posted by Dave Fratello on Sunday, November 28th, 2010 at 6:05pm.

First off, just a quick note here that we won't have a formal "Weekend Opens" post, on account of how few opens there are and how many of you are in transit this weekend, not shopping.

That said, you can try this Redfin map list of open houses or the more traditional Beach Reporter list of opens if you've got time and a hankerin' for viewing.

We'll point you to the new South Bay Confidential column in the Daily Breeze, which discusses data on the sales pace in our grand region.

Looking at escrows closing in the 4 months from July 1 through Oct. 31 – the period in which most Summer deals close – we found a significant slowdown in some segments, comparing this year to last year, as well as to prior years.

The 3 beach cities (Redondo, Hermosa, Manhattan) saw a steep drop in sales, for instance, year-over-year. However, all of that drop is attributable to a dive in condo and TH sales, while SFRs crept up a tiny bit.

Check out the column for a bit more analysis of the data and a hypothesis or 2 to explain them.

More here on Monday looking at MB specifically.
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