November 19, 2007
How are Redondo Beach sellers at pricing?
South Bay Beach Cities Housing Bubble did another one of their great number crunching blogs on the latest Redondo Beach sales data. Besides indicating that the number of days a property is taking to sell is heading up, they also did a graph of the percent reduction from original asking price that sellers had made to obtain a sale.
“So for this data, there are 4 properties (out of 35) that sold with no reduction in price or a price increase from the original asking price. For the remaining 31 properties in this dataset, there was some price reduction. The median reduction was 5.2% and the average was 6.7%. These numbers have edged up, at least for October.”
