San Pedro real estate experienced a sharp increase in number of units sold for the month of May 2018. The month of May saw 57 successful transactions compared to 41 in April.
Single family home sales nearly doubled, going from 26 in April to 48 in May. Average price did experience a slight decrease, but days on market stayed the same at 17.
Condominiums and Townhouses sales in San Pedro dipped slightly this month, down to 9 total transactions compared to 15 for the month of April. Average price also dipped to $428k compared to $444k in April. Interestingly enough, the average days on market dropped significantly to just 14 days compared to 37 days for April. This is a possible indication that first time home buyers and that market still has very strong demand. Expect the average price of condos and townhouses in San Pedro to rebound next month.
With all the projects going on in town, including the San Pedro Public Market, San Pedro Public Market Promenade and Town Square, Harbor Blvd Roadway Improvement, and AltaSea at the Port of Los Angeles, we are expecting prices to continue on their current upward trend. 
Although interest rates have settled in the 6% range for much of the new year, housing inventory remains low, but prices have started to decline.
The San Pedro housing market for February 2023 saw significant changes to the average sale price of homes, indicating that rates may be putting pressure
The San Pedro housing market started 2023 strong, similar to the fourth quarter of 2022. Interest rates decreased slightly, helping raise the average sale price
The Residential Purchase Agreement is 10 pages of terms and conditions that stipulate every aspect of the purchase, and we know exactly how to use them to your complete advantage!
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The added benefit of working with The Prestige Team is that one of our Real Estate Professionals is always available to help. No missed opportunities!
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