I was talking with a client recently about the market in the South Bay, particularly in Hermosa Beach, and realized that with all of the media reports of the bubble bursting, people are not truly understanding what's going on in the Beach Cities.  Buyers are becoming used to price reductions and thinking that this must mean the market is heading back to prices that haven't been seen in years.  While things might be heading that way in certain parts of the South Bay, that's just not the case for the areas closest to the beach.  Home seller are still often convinced that all of the market has leveled off...except for their home and often price far too high.  The price reductions seen are really more of a case of prices becoming more reasonable....not necessarily lower than they have been.  Simply put, prices aren't going up....but they're really not coming down either.  A home on the market today is generally still worth more than when it was purchased a few years back.   If you're trying to track the market, look at the sold homes compared with the past. 

Keith Kyle

Realtor

South Bay Brokers

2501 N Sepulveda Blvd

Manhattan Beach, CA 90266

310-251-2344

Keith.Kyle@SouthBayBrokers.com

For real estate information, open houses, and FREE MLS access visit www.KeithKyleHomes.com