Hollywood Riviera Real Estate – Very Limited Inventory for March 2012 – as we roll into spring’s real estate market, it’s hard to believe there are only 11 single family homes and one townhouse for sale here in the Hollywood Riviera – a gorgeous neighborhood in South Torrance, part of which has a Redondo Beach address. This time last year, there were 21 homes for sale in the Hollywood Riviera.
There has been a lot of activity this winter quarter of 2012 – so far there are 18 homes ‘pending sale’ in the Hollywood Riviera – this time last year there were 23 homes ‘pending sale’ so we are on track for another good year as far as number of properties sold. The average price of the 18 current pending properties is $881,856. The average price of the 23 pending sales last year was $1,024,257. So, we are down as far as the average price of what’s recently selling.
This time last year (March 30, 2011), 16 homes had sold with an average price of $918K. As of today (March 13, 2012) 13 homes have sold in the Hollywood Riviera. Their average price is $$1,161K – so we have had some advance in the average sold price for 2012 that will help offset the lower pending sales average – we should come back to even – that $918K number – as we finish off the first quarter of 2012. Stay tuned….
