San Pedro Real Estate Market Watch: April ’18

Another month in the books! Lets take a look the San Pedro Real Estate Market Watch numbers for the month of April. To summarize the numbers below: San Pedro real estate experienced a pullback in comparison to what we saw in March. Although volume was down, average price increased for single family homes while cutting days on market to just 17 days. Condominiums and Townhouses experienced a similar trend but demand seems to have leveled a bit. If you missed last month’s San Pedro Market Watch report, you can find it here.

San Pedro Real Estate Market Watch April 2018

San Pedro Real Estate Market Watch: April 2018

 

San Pedro real estate, specifically 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.

Be sure to check out San Pedro page for the newest listings in town!

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