Redondo Beach CA Real Estate Market Update/May 2008

May 2008 Redondo Beach homes sales Average home price was $794,569 compared with $876,801 a year ago, a 10.3% price drop. It took on average 64 days to sell a house - 19 days longer than in May '07. Total of 82 homes sold compared with 89 that sold a year ago and compared to 72 sold in April'08. Highest priced home sold for $1,750,000 while the lowest one sold at $269,900. A year ago, the highest priced house sold at $1,640,000 and the lowest - $453,000. ** Sales have picked up again on the month to month basis** Has the market bottomed out? As it's always the case, we won't know till after the fact. IT'S A GREAT TIME TO BUY! Prices have gone down and interest rates are low - contact me and I'll help you find your dream home!

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