Real Estate Market Watch – San Pedro April ’18

Another month in the books! Lets take a look at San Pedro’s numbers for the month of April:

Single family residences experienced a sharp drop in units sold and volume, dropping to 26 units sold for the month of April compared to 34 in march. However, average price increased, although only by a few hundred dollars, to $678k. An important figure to make note of is the days on market, which dropped from 34 to only 17 days! Homes are selling extremely fast in San Pedro and we expect the trend to continue, especially with all the buzz going on at the water front and the recent news about SpaceX and Alta Sea coming to our side of town.

Condominiums experienced a drop in average price for the first time since November of ’17, dropping below February’s ($447k) and March’s ($472k) average to $444k. Units sold dropped from 18 to 15 units and days on market averaged 37 days, same as March. 

Look for prices and number of units sold to steadily increase in the coming months, as summer tends to be the peak of the real estate season.