For example, in the chart on the left , you can see that in August the number of active listings on the MLS in the three beach cities (Manhattan Beach, Redondo Beach and Hermosa Beach) was 441, but by January 2013 the number is down to 199, less than half! This is even more remarkable when you consider that in August of 2011 we had 561 listings and in January of 2012 we had 386 — again, we are close to half the normal levels of inventory.
What does this mean for the average person who is thinking about buying or selling real estate? If you are a seller, it means that now is the time to sell, as you can get the most interest and the fastest sale of any time we’ve seen in a while. If you are a buyer, it means that you need an agent who can guide you through the multiple bid process and help you win the war without breaking the bank. It also means that working with an agent like me, who is local, connected to the other top agents in the South Bay, and knows about the hidden “pocket” listings that are not on the MLS but are available for sale, will really help you to get the home you want at the lowest possible price.