Why August Home Sales Look So Bad

Monthly sales of homes across the South Bay dropped an average of 15% in August, with volume falling off as much 27% on the Hill and 20% at the Beach. Annual sales volume was likewise down by 15%. But, it’s really not all that bad. August saw a confluence of unique events making sales volume look more depressed than it really was.

At least three factors played into the numbers. July of this year showed very elevated sales compared to earlier months in 2024 and compared to August. That brought the line down for August.

Then, August was a particularly strong month for sales in 2023, which made this year’s more average numbers look like a slippage.

Added to those mathematical twists is contemporary psychology. The Fed is widely expected to drop the interest rates in September, so buyers are standing back, waiting an extra month or so to save dollars and/or buy more house.

The year to date sales volume tells a truer story. Home sales across the South Bay are off 1% from 2023. The percentages range from -3% in the Harbor area to 4% on the Hill. Generally speaking, sales this year have come in fits and starts with the up and down movement balancing out for the year to date.

As one would expect, median prices were down from this July, though not quite as dramatically as the drop in sales would imply. The median moved up 8% in PV, while the other areas dropped roughly 10%. (It’s worth noting that the low volume of business on the Hill gives rise to highly variable statistics.)

Looking back to August of last year, shows a much tamer comparison to the change in median price. The increase ranges from 1% at the Beach to 4% in the Harbor, with PV–the frequent outlier–at a 26% increase in the median.

With eight months of data now available, the year to date median price is beginning to show moderation from the highs of earlier this year. The Beach and Inland areas are at a 6% increase over last year, while the Harbor area is at 8% and Palos Verdes is showing 11%. If lower mortgage interest rates materialize, that could boost both sales volume and median prices this fall. At the same time, the hotly contested presidential election may keep a lid on the market until winter.

Beach: Not a Good Month

Showing only 94 homes sold for the month of August, the Beach cities took a 20% dive from July sales volume. At the same time, the median price dropped 9% for the month to $1,7M.

Topping the 20% fall from July, year over year August sales were off a whopping 26% from July of 2023. Median prices, on the other hand, rose a modest 1% over the same month last year.

As mentioned earlier, the year to date numbers are more indicative of where the current market is headed. The number of homes sold for the first two thirds of the year registered positive (barely–with a 0.13% increase). Over the same period of time, the median price at the Beach has risen 6%.

The falling sales volume coupled with the increasing median price is fallout from the troubling economic issues that arrived concurrent with the pandemic. Much of the developed world was on the precipice of a recession when the pandemic occurred. The response to the medical threat pushed the financial danger to the side and now we’re looking at the aftermath of all those events.

Harbor: Mostly Down

The Harbor area looked very much like the Beach in August, albeit with slightly less dramatic swings. On sales of 290 homes, the month over month volume dropped 8%. That matched exactly an 8% decline in the median price from July transactions.

Comparing to the same month last year, Harbor area homes sales dropped off by 12% from July last year. The decline was accompanied by a 4% increase in median price from July of 2023.

Year to date statistics for the Harbor area came in more constrained than the month to month and year over year numbers. For the first eight months of the year, the number of homes sold slipped by 3%, while the median price escalated by 8%.

Hill: Looking Up

Sellers on the Hill created some radically varied numbers in August. The number of homes sold fell from July even more than at the Beach, coming in at a mere 53 units, for a 27% decline in sales volume. But, those buyers pushed the median price up to $2.15M for a 7% increase while the rest of the South Bay fell by as much as 13%.

The numbers look even better when comparing August sales to the same month last year. Sales volume was up 8% over August of 2023. Median price was up a shocking 26% over last year. A more detailed look shows August was the lowest median price of the year, after February.

Once again, the year to date perspective offers the calmest view of the real estate market. Through August, residential sales were up 4% over the same period in 2023. Median price was up 11%.

Inland: More Down Than Up

Following the trend line, the Inland area moved down from July. Sales volume fell 18% to 117 homes. Concurrently, the median price dropped 13% to $875K.

The number of sales fell by 21% from August of last year, showing continuing impact from high mortgage interest rates and reduced inventory. As with the rest of the South Bay, many sellers are holding property off the market. Many are waiting for more favorable interest rates for their buyers and on their replacement home. Some took advantage and financed at interest rates below 3% and won’t be back in the market for years.

Insert 202408_revenue_comparison_2019.png

Sales from January through August show 2024 down 2% from 2023 in number of homes sold. Median price for the same period reflect an increase of 11%.

What About the Fed?

The Federal Reserve Bank will be meeting later this week to discuss a reduction in the baseline interest rate. Because financial indicators are showing a weakening economic environment, most pundits expect the Fed to approve a drop of .25-.5% from the overnight rate. Most lending institutions have already reduced rates in anticipation of a change. If approved, lenders will hold mortgage interest rates at about where they are positioned today. If not, fixed rates will go back up to about 7%.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by Pedro Lastra on Unsplash

Andy & Renee and Hard Rain

Andy & Renee-The Lighthouse
TUESDAYS @ 5:30PM — 7:30PM
The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254
310 376-9833

Andy & Renee-Banana Leaf
THU, SEP 12 & 26@ 6:30PM — 9:00PM
Banana Leaf & Beach Cities Social,
1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee-House Concert -Agoura Hills, CA
MON, SEP 16 @ 7:00PM — 10:00PM
Home of Steve Berman & Sandy Lessner,
4032 Defender Dr., Agoura Hills, CA 91301
Doors-6p, Music 7-10p.
$20 donation requested. Get tickets at https://andyandrenee.com/tickets-tips-merch.
BYOB

Andy & Renee-Belle Epoque
THU, SEP 19 @ 7:00PM — 9:00PM
Belle Epoque,
265 Avenida Del Norte, Redondo Beach, CA 90277
310-316-4302

Andy & Renee-Terranea Lobby Bar
FRI, SEP 20@ 7:00PM — 11:00PM
Terranea Lobby Bar,
100 Terranea Way, Rancho Palos Verdes, CA 90275

Andy & Renee & Hard Rain-Day Of Peace Celebration with Jane Goodall
SAT, SEP 21 @ 10:00AM — 4:00PM
Point Fermin Park, 807 Paseo Del Mar, San Pedro, CA

Celebrating United Nations International Day of Peace & Jane Goodall’s 90th Birthday. Eco Festival, Food Trucks, Parade of Giant Peace Dove Puppets. Band plays 11am-1:30pm, plus a bit afterwards. Bring your beach chair, water bottles & blankets. For parking & Free Shuttle info, go to peacedayla.org.

Andy & Renee & Hard Rain-The Lighthouse
SUN, OCT 27 & DEC 29th @ 2:00PM — 5:00PM
The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254
310 376-9833

Andy & Renee & Hard Rain-New Year’s Eve Party
TUE, DEC 31 @ 8:00PM
The Grand Annex,
434 W. 6th St., San Pedro, CA 90731
Get tickets and info at https://grandvision.org/event/andy-renee-hard-rain-new-years-party/

Jodi Siegel’s Songwriter Showcase for September

This is a once a month (every third Tuesday) show that is designed as a listening room for world class songwriters, many with hit songs, long touring/recording associations with music legends ETC… to play their original music in an intimate setting. NO COVER BUT DONATIONS ARE STRONGLY ENCOURED AND GO TO THE SONGWRITERS. Project Barley serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. This month we are proud to present: THE MOJO MONKEYS AND JODI SIEGEL

THE MOJO MONKEYS

Mojo Monkeys is the labor of love of three veteran Los Angeles musicians: Singer/Drummer David Raven, Bassist Taras Prodaniuk and guitarist Billy Watts. Individually, they’ve logged time in the studio or onstage with such notable artists as: Lucinda Williams Keith Richards, Norah Jones, Dwight Yoakam, Bruce Springsteen, Bonnie Raitt, June Carter Cash, Mike Ness, Steve Jones of the Sex Pistols, Dixie Chicks, Geoff Muldaur, John Trudell, Richard Thompson, Jim Lauderdale, Peter Himmelman, Buck Owens, T-Bone Burnett and many, many more. They are the first call A-list session players in Los Angeles, play in multiple local and touring bands and are all at the top of their game! These guys have made multiple records that combine their swampy bluesy rockin’ music with smart lyrics, killer singing and playing…they draw from many sources but sound like no other!

PROJECT BARLEY serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. https://projectbarley.com/ 2308 Pacific Coast Hwy, Lomita, CA 90717  

Live at the Grand Annex In September

A 150-seat cabaret venue run by Grand Vision in the heart of San Pedro’s thriving arts district. Enjoy state-of-the-art sound enhancing a unique listening experience, complemented by a commitment to community. Many wonderful restaurants are nearby and beverages are available throughout the show.

T Sisters
& Wine Tasting🍷

Sat, Sep 21, 2024
8:00 PM
Doors 7:00 PM
Tickets

Twins Rachel and Chloe Tietjen and their older sister Erika offer up potent lyricism and catchy melodies from stunning a cappella harmonies to pop to groovy indie folk.

The sisters’ contemporary yet classic sound invites comparisons to modern family bands like the Avett Brothers and First Aid Kit. With their soaring sibling harmonies, sassy stage presence and inventive songwriting, these three sisters bring a soulful take on folk/Americana music.

In 2019, T Sisters participated in American Musicians Abroad, a selective State Department-sponsored program fostering diplomacy through music. The sisters performed and conducted workshops in the Middle East and North Africa emphasizing girls empowerment and the role of music in creating social awareness and change.

Rachel (vox, guitar, banjo), Chloe (vox, percussion) and Erika (vox, guitar) are all songwriters in their own right and switch off on lead vocals. While their voices blend seamlessly, each has a distinct singing and writing style that results in an eclectic repertoire unified by a landscape of close harmonies.

🍷Pre-Concert Wine Tasting
Taste fine wines. Wine Tastings are led by professional sommelier, Jean-Philippe Molinari.

Pre-Concert Wine Tastings are free to Grand Vision members at the Friend, Champion, VIP Circle, Arts Advocate, and Performing Arts Patron level – up to two per household, $16 per person for all others. Concert tickets are required to participate. Members’ tasting tickets must be redeemed in advance. Tastings begin one hour before the show, please arrive no later than 30 minutes into the tasting to participate.

Deja Vu The Music of Crosby, Stills, Nash & Young

Sun, Sep 22, 2024
4:00 PM
Doors 3:00 PM
Tickets

Ray Koukal assumes the role of David Crosby, Steve Elowe takes on the role of Stephen Stills, Jim Wootten steps into the shoes of Graham Nash, and Devitt Feeley embodies the spirit and musicianship of Neil Young.

Together, their dedication to capturing the essence of these rock icons’ sound and performance makes Deja Vu an unmissable experience for fans of this legendary group.

Transport yourself on a nostalgic journey through faithful renditions of CSNY’s iconic hits, including “Teach Your Children,” “Helpless,” “Suite: Judy Blue Eyes,” “Love the One You’re With” and more.

Sean Lane & the Hellhounds

Sat, Sep 28, 2024
8:00 PM
Doors 7:00 PM
Tickets

Delta blues, hill country and driving rock ‘n roll from local master slide guitarist and his power quartet.

Sean Lane is a singer-songwriter who plays solo-acoustic Delta style blues and also fronts a four-piece electric combo. Sean Lane & Hellhounds are a dynamic blues band that aren’t afraid to blend in a little rock. Their sound has been described as “blues on steroids.”

Sean started The Hellhounds as a Delta blues slide guitarist and vocalist, writing original songs in the style of the old Mississippi masters and blending it with the intensity of Blues-Rock. With Sean on lead guitar, Jon Poli on drums, Doug Swanson on bass and Jed Ojeda on rhythm guitar, they are a true Blues-Rock powerhouse. Based out of Los Angeles with roots in the South, The Hellhounds are all about blending old tradition with modern innovation to create. Their music is beyond standard Chicago blues here; it’s raw, powerful, and distinctive.

J2B2 (John Jorgenson Bluegrass Band)
& Wine Tasting🍷

Fri, Oct 04, 2024
8:00 PM
Doors 7:00 PM
Tickets

The John Jorgenson Bluegrass Band (J2B2) showcases impeccable musicianship, incomparable songwriting, incredible harmony vocals and seasoned showmanship. The band combines the “high lonesome sound” of bluegrass with elements of West Coast folk rock and Americana.

https://youtube.com/watch?v=6gb8n0riHCo%3Fsi%3Dm2XX7dJElCnr9QsX

John Jorgenson (acoustic guitar/mandolin/vocals) first came to national attention in the mid ‘80s with successful country-rock act The Desert Rose Band, which he co-founded alongside Chris Hillman and fellow J2B2 member Herb Pedersen. In 2008, Jorgenson won a Grammy for Best Country Instrumental with Brad Paisley and was nominated for Best Bluegrass Album with Earl Scruggs. He has also worked as Elton John’s guitarist and alongside Bonnie Raitt and Bob Dylan.

John Jorgenson returns to the Grand Annex, this time switching his guitar out for a mandolin and bringing his all-star bluegrass supergroup featuring legendary, award-winning musicians: Herb Pedersen, Mark Fain and Patrick Sauber.

Herb Pedersen (banjo/acoustic guitar/vocals) has been a member of over five bands, including The Desert Rose Band, during his sixty-year music career. He has worked on countless film and TV scores, and collaborated with music legends such as Earl Scruggs, Emmylou Harris and Linda Ronstadt.

Mark Fain (bass) is a seven-time Grammy winner who has produced for many artists across the jazz, country, bluegrass and gospel genres; he has also toured and recorded with the Chicks, Alan Jackson, John Fogerty and Dolly Parton.

Patrick Sauber (acoustic guitar/vocals) has toured with Peter Rowan and Laurie Lewis, and appeared on screen in the mockumentary musical “The Mighty Wind.”

🍷Pre-Concert Wine Tasting
Taste fine wines. Wine Tastings are led by professional sommelier, Jean-Philippe Molinari.

Pre-Concert Wine Tastings are free to Grand Vision members at the Friend, Champion, VIP Circle, Arts Advocate, and Performing Arts Patron level – up to two per household, $16 per person for all others. Concert tickets are required to participate. Members’ tasting tickets must be redeemed in advance. Tastings begin one hour before the show, please arrive no later than 30 minutes into the tasting to participate.

Peace Frog The Music of the Doors & Jim Morrison

Sat, Oct 05, 2024
8:00 PM
Doors 7:00 PM
Tickets

https://youtube.com/watch?v=4urLvrMLMJ8%3Fsi%3DUZaElfW4z2wvy9FI

Based out of Venice, California, this highly acclaimed act recreates the magic, intensity, and rock theater of Jim Morrison and The Doors. Mystical and hypnotic, the band transforms any room into an actual Doors concert experience. Lead singer Tony Fernandez lives out every move of Jim Morrison on stage and delivers a powerful recreation of true likeness in his presence, vocals, and spirit.

The four-piece band also includes James Sinigalliono on keyboard and bass, Tyler Thigpen on guitar and Tom Gold on drums. Hear intoxicating renditions of “Hello, I Love You,” “Light My Fire,” “L.A. Woman,” “The End” and many more Doors classics.

Negotiation Tips For Any Situation

As with any sort of business deal, buying or selling a home involves a lot of negotiation. Fortunately, there are techniques to aid in negotiation that apply not just to real estate or business, but nearly any situation, even simple discussions among friends. It even comes with a handy mnemonic: Negotiation expert Jacqueline Twillie has coined the acronym L.A.T.T.E. to help with all your negotiating needs.

L: Look at the details. Making sure you’re fully informed about every detail and potential outcome will help you to decide what decisions you can make.

A: Anticipate the challenges. It’s probably a given that you’ll receive some pushback or have some hurdles to overcome during the conversation. Make sure you’re ready for the kind of questions or resistance you might face while negotiating and have your responses prepared.

T: Think about what you want to walk away with. Be clear in your mind about what you actually want from the negotiation, what you are prepared to be flexible on and which parts of your desired outcome are not up for negotiation. Also, be sure to consider what the other party wants from the conversation for a stronger approach.

T: Talk it through! Practicing talking through your points out loud will help you be confident and collected when it comes to the real thing. You may even find that hearing your points out loud helps you identify where your tone or approach might need to change.

E: Evaluate your options. Before making a final decision, give yourself time to review the outcomes you’ve been offered from the negotiations to make sure it’s what’s best for you.

Photo by Sebastian Herrmann on Unsplash

Why Is California So Much More Expensive Than Most Of The US?

California has always been an expensive place to live, and it’s only getting more and more expensive. The median home price is about 2.5 times higher than the national average, and 11 times the median income. Of course, prices are trending upwards across the nation. Appreciation over time is normal, and has accelerated in the wake of the 2020 pandemic. But these things affect everyone — so why is California specifically so much more expensive?

It’s not just as simple as having higher desirability, although that is certainly the case. The primary issue is a lack of affordable housing. There are multiple reasons for this. California may be the third largest state by area, but it also has the highest population of any state. It’s not among the densest, but it is rather sprawling. There’s just not a lot of open land to build on, particularly land that fits all the various zoning restrictions that are in dire need of updating. However, updating zoning laws is getting pushback from residents. Construction costs are also up. While construction companies typically would rather build multifamily residences, they have to build what’s in demand — which is mainly single-family residences.

In addition, because purchasing a home is so expensive, landlords are better served continuing to rent out their homes and units rather than attempting to sell, even though selling would decrease home prices. This is exacerbated by property tax laws in California. Prop 13 limits the rate at which property taxes can increase until a property exchanges ownership. Therefore, people who have owned a home for a long time can pay very little in property taxes, reducing the likelihood of any sort of market activity.

Photo by Paul Hanaoka on Unsplash

More: https://calmatters.org/explainers/housing-costs-high-california/

Don’t Panic If An Inspection Finds Mold

Prospective homebuyers are prone to backing out immediately if the home inspection uncovers mold. This is usually a hasty response. Some level of mold is, in fact, quite common in homes. Of course, that doesn’t mean you should simply ignore it, but there’s also no need to panic.

Feel free to ask the inspector questions about the mold they found. You’ll want to know how severe the issue is and what the root cause of it is. If the issue is minor, you may even be able to fix it yourself — however, you’ll want to make sure of that beforehand, since mold can hide in places that aren’t visible.

Also, keep in mind that the inspector is neither a mold testing service nor a mold removal service. And yes, these are different things — while a mold removal service often will test for mold, there’s a potential conflict of interest if the same company is both testing for and removing it. If you think you’ll need professionals to deal with the problem, do your research. You’ll also want to know whether your homeowner’s insurance covers mold removal and associated repairs, as policies can differ.

Photo by Jonas Denil on Unsplash

Coming Up At The Grand Annex

A 150-seat cabaret venue run by Grand Vision in the heart of San Pedro’s thriving arts district. Enjoy state-of-the-art sound enhancing a unique listening experience, complemented by a commitment to community. Many wonderful restaurants are nearby and beverages are available throughout the show.

Greenwich Village Coffeehouse
Andy & Renee and Guests

Saturday, September 7, 8 PM
TICKETS

Classic rock and folk hits of NYC’s Greenwich Village. Hear the music of
Bob Dylan, Joan Baez, Pete Seeger and more. With guests Marty Rifkin,
Joel Raphael, Dave Crossland and James Lee Stanley.

Mustangs of the West

Friday, September 13, 8 PM
TICKETS

Trailblazing all-women quintet delivers sparkling, powerful and irresistible Country-Americana!

David Robert Pollock
Variety Hour

Saturday, September 14, 8 PM
TICKETS

Singer-songwriter David Robert Pollock hosts talent from LA’s indie music scene – reminiscent of a ’70s variety series like “The Dean Martin Show” – but with a thrilling, dark comedy twist.

T Sisters and Girl Power

Saturday, September 21, 8 PM
🍷Pre-Concert Wine Tasting 7 PM
TICKETS

With soaring sibling harmonies and their signature sassy stage presence, these sisters sing a combo of Americana, folk and country.

Deja Vu
A Musical Retrospective of CSNY

Sunday, September 22, 4 PM
TICKETS

Immerse yourself in first-class folk-rock with faithful renditions of Crosby, Stills, Nash & Young’s “Teach Your Children,” “Helpless,” “Suite Judy Blue Eyes,” “Love the One You’re With” and more.

Jodi Siegel – Songwriter Showcase

7-9PM, Tuesday, August 20, 2024
Project Barley Brewery
2308 Pacific Coast Hwy, Lomita, CA 90717  

THIS MONTH’S AUGUST SONGWRITER SHOW IS GONNA BE EPIC! MY BUDDIES FROM MASON SOUTH (PHIL PARLAPIANO, DOUG HAMBLIN, LYNN COULTER) WILL BE MAKING A RARE LOS ANGELES  APPEARANCE AND I FOR ONE AM SO EXCITED TO HEAR THEM AND YOU WILL BE TOO! ALSO APPEARING FOR THE FIRST TIME IS THE WONDERFUL PI JACOBS. THIS IS HER FIRST TIME COMING DOWN AND YOU’RE GONNA LOVE HER! -Jodi

Mason South

MASON SOUTH is an Americana, blues, roots trio; Phil Parlapiano, Doug Hamblin and Lynn Coulter. All three have been sidemen to some of the industry’s most legendary and respected musicians like; Albert King, John Prine, Rod Stewart, Dixie Chicks and many more. LA’s Mason South began ‘as a sideman’s side project’ in the early 2000s and continues today in trio format.

Louisiana-born percussionist/vocalist Lynn Coulter brings his unique swampy feel and soulful vocals. He has been a constant presence on the LA music club and session scene. Lynn has performed/recorded with Rita Coolidge, Carole King, Paul Butterfield and Smokey Robinson and many others.

LA native Phil Parlapiano is a true multi-instrumentalist—organ, piano, mandolin, guitar, accordion and pretty much anything else that’s left lying around the studio. He is a first call session player and recently ventured into acting as well! Phil has toured and recorded with John Prine, Carlene Carter, Lucinda Williams, Iris DeMent…the list is very long

Bay Area born guitarist Doug Hamblin has played everything from new wave power pop (Jo Allen and The Shapes) to folk and rock. His debut album of original blues on the indie label Blueprint Records reached Billboards’ Top Ten and earned him a Blues Artist of the Year BAMMY nomination. Since relocating to LA in the 90s Doug has performed/recorded with artists as diverse as Dr John, Southside Johnny Lyon, Steve Miller Band, Johnny Rivers and Stephen Stills.

Together these three gifted performers move thru a deep catalog of their own original songs that span a wide variety of styles they like to call a “100% American Blend—Rock, Soul, Country, Blues.

Pi Jacobs

Pi Jacobs draws inspiration from her unconventional upbringing in “The Land of Weed and Wine” aka Northern California. Blending roots-rock swagger and storytelling soul, her music has drawn comparisons to Tom Waits, Dolly Parton, and Lucinda Williams. She has been heard on NPR, DittyTV, Austin Music TV, Americana Highways, American Songwriter Magazine, and regularly on tastemakers KCSN, WFUV and stations across the nation. 

Jodi Siegel

Jodi Siegel, originally from Chicago, IL, is a singer, songwriter and guitarist. Over the years Jodi has opened for and or shared the stage with many respected musicians including: Albert King, Robben Ford, Robert Cray, J.D. Souther, David Lindley, Fred Tacket and Paul Barrere (Little Feat) and countless others. Her songs have been recorded by Maria Muldaur, Marcia Ball, Tommy Ridgley and Teresa James.

She has recorded two CD’S; Stepping Stone and her latest CD, “Wild Hearts,” produced by Steve Postell (Immediate Family, David Crosby, Eric Johnson, Robben Ford, Iain Matthews), is filled with great songs, cool grooves, intimate, smart lyrics and some of the best of the best musicians in Los Angeles today including; Mike Finnigan (organ, piano), Hutch Hutchinson, Abe Laborial Sr., Alphonso Johnson (bass), Russ Kunkel, Michael Jerome Moore, John Ferraro, Arno Lucas (drums, percussion), Joe Sublett (Saxophone) and Maxayne Lewis and Clydene Jackson (background vocals). Each song has a soulful delivery with an undeniable down-home elegance. It has received great reviews by Patrick Simmons (Doobie Brothers), Maria Muldaur, Walter Trout, David Mansfield (T Bone Burnett), Leland Sklar, Mike Finnigan and Doug Macleod to name a few.

PROJECT BARLEY serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table.

South Bay Real Estate Bonanza

July brought a bonanza—of sorts—to real estate in the Los Angeles South Bay. Sales volume, which had been falling below last year for three of the last four months jumped up 20%. Granted, July was an unusually slow month in 2023, compared to most years including 2024.

Month over month showed a comparable increase. Total sales volume was up 6% from June to July. The only negative for monthly sales was in the Harbor area where activity was off by 8%.

More importantly, year to date through July, sales volume was up 1% across the South Bay compared to the same period in 2023. With over half the year past already, some growth is a positive sign. This close to November on a presidential election year, one would expect the market to be looking better than it has been.

In fact, The number of homes being sold has still not recovered from the pandemic. Sales this July were 22% fewer than they were in July of 2019! As discussed previously, because the mortgage interest rates were temporarily at rock bottom, about 40% of the homeowners in California currently are “trapped in a mortgage they can’t afford to leave.” This promises to maintain downward pressure on home sales for the better part of a decade. Paradoxically, the reduced inventory is contributing to rising prices.

More homes were being sold in July, and they were being sold for greater prices. Annual increases in the median price were up 15% in entry level neighborhoods. At the Beach and on the Hill median prices didn’t reach quite as high, but were still more than 10% above July of 2023.

Monthly pricing showed the contrast between high end and entry level homes more clearly. In the Beach area the median dropped 3% from June, while on the Peninsula, there was no change in the median price. In contrast, the Harbor and Inland areas rose 6% and 5% respectively over June numbers.

Comparing the first seven months of this year to last year shows inflation continues to plague the real estate economy. Median prices rose in a range between 6% and 9% in the South Bay during the period.

Beach: Highest YTD Sales Volume Increase

Sales in the Beach cities jumped from 90 homes in June to 118 in July for a massive 31% monthly increase. This was matched by a 30% annual increase over July of 2023. Month to month statistics, as well as same month last year comparisons have shown tremendous variability this year.

The rapid fire changes precipitated by the pandemic, and subsequently by the Federal Reserve in an effort to keep the economy under control, created wild swings in the number of homes sold. At the same time the shifts in median price were less frequent and considerably less wide-ranging.

Today, looking at the year to date summaries for both, sales volume and median price, the numbers have moderated greatly. Sales volume at the Beach measured against last year has ranged from negative 27% to positive 33%. That huge range smoothed out to 6% growth in the year to date view.

Likewise, the median price, which has been a bouncing ball, declined 3% from June and increased by 11% over July of last year. Comparing the year to date from 2023 to 2024, the median settled in with a 6% increase for the longer term perspective.

Harbor: Highest YTD Median Price Growth

Monthly sales volume in the Harbor area fell 8% to a total of 316 homes sold in July compared to 342 sold in June. Annual sales moved the opposite direction, rising 17% from July of 2023 to July this year. For the first seven months of 2024 sales have fallen 1% compared to the same period last year.

Median prices had fallen 6% in June and have reclaimed that loss with a 6% growth in July. The new median, $848,500, is a 15% improvement over July of 2023. Year to date the median price is up by 9% in the Harbor area over the same seven month period in 2023.

Interestingly, every month this year has been a growth month for the year over year median price at the Harbor. The lowest increase has been 4% in March and again in June. The highest has been 18% in both February and May.

Hill: Highest Median Price In South Bay

Monthly data for the PV Peninsula came in with 73 homes sold for a 22% increase in volume over June. Annually, sales showed a 46% increase over July of 2023, a welcome change from the 24% drop in June vs June numbers. Year to date sales posted a 4% increase in volume over the same seven months in 2023.

PV registered a 12% annual increase in median price to $2,015,000 in July, so far the highest median in the South Bay for 2024. It doesn’t quite reach the $2,300,000 of May, 2023, but is one of the more impressive months in recent years. The monthly increase from June was negligible, but the timing in 2023 coincided with a downward shift in median sales prices. So, the change shows up as a 8% increase in the year to date median.

Inland: Median Price Hits $1,000,000 First Time

Sales volume for the Inland area jumped in July—up 15% month to month for a total of 142 homes sold, and up 9% since July of last year. Being past the halfway point of the year boosts the value of the the year to date statistics which come in at a mere 2% through July.

At the same time, the July median sales price for the Inland cities climbed 15% above July 2023 and hit $1,000,000 for the first time! Last year’s number was pretty run-of-the-mill so lends some import to this year’s improvement. The 2024 year to date median price calculation supports the strength shown by the monthly and annual numbers with a solid 7% increase over 2023.

Why Use Median?

A brief comment on median price and why it’s often used in real estate: Averages are used for a great many things in making comparisons, and for things that change frequently, averages do a great job. Medians, on the other hand, minimize the ‘jerky’ nature of averages and show directional movement better than a lot of up and down action.

A median is exactly the middle of a group of numbers, so that half are higher and half are lower. So the impact of a single outlier number shows less distortion on the longer term trend line of the values. In other words, it’s easier to see what your investment will likely be worth in 10 years.

Most of us don’t buy houses often enough to care about movement over the last 30 days. We’re interested in staying put for 10 years, plus or minus. The median trend will show us the most likely path.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo catalina_from_wayfarers_chapel.jpg by Carl Clark

What Not To Do When Improving Your Home

Improving your home can be an exciting yet daunting task. To help you navigate your home improvements smoothly, here are six things not to do when giving your house a makeover.

Don’t plant trees too close to your home. It might seem like a great idea to add some greenery, but planting trees too close to your home can lead to root damage to your foundations and plumbing. Plant trees at a safe distance to avoid future headaches. A good landscaper or garden center employee should be able to help you find the best plants for your lot.

Don’t clean windows on a sunny day. Cleaning windows when the sun is shining directly on them can cause the cleaner to dry too quickly, leaving streaks. Choose a cloudy day to get a spotless, streak-free finish.

Don’t ignore regulations. Skipping the necessary permits might save time initially but can lead to major issues down the road, including fines and even the nightmare of having to undo your work. Always check local regulations, get the proper permits, and keep them for your records.

Don’t use the wrong tools. Although not investing in fancy tools might save money, using the wrong tools for a job can lead to poor results and potential injury. Make sure you have the right tools or hire a professional if needed.

Don’t forget to protect your furniture. There’s nothing worse than eyeing up a beautifully renovated room only to find your couch ruined by dust, debris, and flying paint. Cover your furniture with sheeting or move it to another room to keep it safe. Resist the urge to move your drop cloths and sheets before everything has dried, as you could smudge and track paint around by mistake once you think you have the job done!

Photo by Bermix Studio on Unsplash

Why You May Want To Sell Your Home In The Fall

There isn’t necessarily an ideal time to sell your home, but there are definitely seasonal trends. Home sales are generally highest in spring and lowest in winter. There are several reasons for this, but there are also two seasons that are neither spring nor winter — summer and fall — and they also have advantages and disadvantages. So, why might you choose fall?

From a pragmatic standpoint, there isn’t a lot of competition in the fall, but there’s still some demand. Many sellers wait until spring, assuming that because that’s when most people buy, it’s the ideal time to sell. However, this results in an abundance of available properties, making it harder for any single home to stand out. In contrast, fall’s quieter marketplace means your home has a better chance of catching buyers’ attention. At the same time, it’s not winter, when many buyers aren’t looking to buy at all. Of course, there’s less of a difference in California where much of the state doesn’t have freezing temperatures. This isn’t limited to buyers and sellers, either — the entire industry runs at a more comfortable pace. Lenders, real estate agents, lawyers, surveyors and appraisers all tend to have less work during the fall, meaning the process can happen much quicker and more smoothly than in the busy spring and summer months.

Secondly, the cozy ambiance of fall can really enhance your home’s appeal. First impressions are important, and many people perceive fall to have a natural beauty, with its colorful leaves. Typical fall decorations, such as pumpkins and scented candles, can also feel warm and inviting. Moreover, cooler temperatures make house hunting more pleasant, encouraging potential buyers to attend open houses and viewings — though in California, this is more typical of the latter half of fall, as heat waves are not uncommon in September. All of these elements can create a strong emotional connection for potential buyers.

Photo by Todd Diemer on Unsplash

How To Deal With Low Offers

If you’re selling your home, you need to be prepared to potentially receive offers below asking price. That’s just the way negotiations work. It’s important to examine the offers objectively, without getting offended, and understand why a prospective buyer might offer what appears to be a low amount. The reason could differ from person to person, and knowing what the buyer is thinking is important for understanding how to respond to the offer.

Obviously, you can’t read the buyer’s mind, but you can talk to your agent. Your agent may have insights into market conditions or particular wording in the offer, and can also speak to the buyer’s agent. It’s possible that your home is overpriced. This doesn’t necessarily mean that someone made a mistake in valuing your home — sometimes a home is actually worth more than surrounding homes, but is at a price point that isn’t appealing to people looking in that area. This could require compromise. It’s also possible the buyer is simply leveraging the nature of negotiations, expecting you’ll counter higher than their offer, but below your initial asking price. Another possibility is that the buyer is well-qualified up to a certain amount, and is hoping for a quick and uncomplicated transaction. If, however, the offer is egregiously low and the buyer is not willing to compromise, it’s probably best to forget about it.

Photo by Vitaly Gariev on Unsplash

Stainless Steel Appliances Are In

When you’re trying to remodel your home to sell it, the best way to get ahead of the curve is to focus on the kitchen. Kitchen remodels can be very expensive, but that’s because they’re also very valuable. Even if you do nothing else, a well-done kitchen remodel can be highly cost effective, even if the cost is high. That means staying up to date on the current trends in the kitchen.

Right now, that’s stainless steel. Stainless steel is durable and easy to clean, and at least right now, considered aesthetically appealing. While some go as far as to include stainless steel countertops and cabinets, you don’t need to go that crazy. Stainless steel everything can feel cold and industrial, but you can balance that with marble countertops, traditional wood cabinets, or even just splashes of color. You could also pick between large or small appliances, and make one of those categories stainless steel; either one has the same effect.

Photo by Point3D Commercial Imaging Ltd. on Unsplash

Negotiating Repairs Or Credits

As a prospective buyer, if you see something about a property you’d want to fix or replace, you’ll probably want to negotiate repairs or credits with the seller. The question is whether you want the seller to manage the repairs or you to manage the repairs. Neither choice is inherently better or worse, but certain circumstances or goals may cause you to opt for one or the other.

When buyers opt to negotiate repairs, the primary reason is that they simply don’t want to deal with it, and would prefer for it to already be finished by the time they move in. This is certainly a valid reason, but there may actually be a more important one. Many — though not all — loans require the property to meet a minimum standard of condition, and if the property falls short, you’ll need the repairs to be done before the sale is finalized if you don’t want the loan to be rejected. You should check your loan requirements before making a decision.

The most common reason for asking the seller for credit is that the changes the buyer wants are either minor or subjective. Minor repairs will still take time and delay the sale process if the buyer asks for the seller to take care of them. Repainting or choosing colors or materials are updates that require the new owner’s oversight, so it doesn’t make sense to put it in the hands of the seller. If your loan will allow it, you may even want credit for major repairs. This could be because you want more agency in the process, you have the skill to repair it yourself, or you’re on a time constraint and don’t want to delay the sale.

Photo by Milivoj Kuhar on Unsplash

Next at the Grand Annex

MUSTANGS OF THE WEST

Friday, September 13 / 8 PM

Trailblazing all-women quintet deliver sparkling, powerful and irresistible Country-Americana!

TICKETS

DAVID ROBERT POLLOCK

Variety Hour

Saturday, September 14 / 8 PM

Modern folk singer-songwriter David Robert Pollock (formerly DCR Pollock) returns to the Annex to premiere his new, “David Robert Pollock Variety Hour,” featuring guest appearances by talent from across the LA music scene.

TICKETS

DEJA VU

A Musical Retrospective of CSNY

Sunday, September 22 / 4 PM

Immerse yourself in classic ’70s folk-rock with faithful renditions from the songbook of Crosby, Stills, Nash & Young – hear “Teach Your Children,” “Helpless,” “Suite Judy Blue Eyes,” “Love the One You’re With” and more.

TICKETS

John Jorgenson Bluegrass Band

Friday, October 4 / 8 PM

John Jorgenson returns, this time switching his guitar out for a mandolin and bringing his all-star bluegrass supergroup featuring legendary, award-winning musicians: Herb Pedersen, Mark Fain and Patrick Sauber.

TICKETS

Andy & Renee Live & On Tour

Andy & Renee-The Lighthouse

TUESDAYS THRU AUG 1, then resuming SEP 3@ 5:30PM — 7:30PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254

Andy & Renee-Banana Leaf

THURSDAYS, July 11, 18, AUG 1 @ 6:30PM — 9:00PM Banana Leaf & Beach Cities Social, 1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee Livestream #234

Friday, June 12th, 6pm PDT.

Watch live or anytime at Watch live or anytime at https://youtube.com/live/5F9HlkoQwJg?feature=share. Come watch the show in person at our studio! 17411 Delia Ave., Torrance, CA 90504. LIMITED SEATING, so RSVP now to reneesafier@hotmail.com. Please arrive no earlier than 5:45p. Show will start at 6pm. For the online viewer, the Livestream shows are free to watch, but the option to contribute is there for those who are in a position to do so. You can see our song list to make requests and contribute at https://andyandrenee.com/tickets-tips-merch, PayPal (paypal.me/andyandrenee) or Venmo, (www.venmo.com/Renee-Safier). A portion of the proceeds will go to the Los Angeles Midnight Mission. We are sustained by the generosity and support of the fans who love the music, and who donate as they are able. If you use funds from your bank vs. your credit card, we aren’t charged a service fee, but either way, we appreciate your support!

Andy & Renee-House Concert Hosted by Diane Stahl and Steve Reinhardt-Denver, CO

Saturday, August 3rd – 5-9 pm

Home Of Diane Stahl & Steve Reinhardt, 870 South Clarkson, Denver, CO 80209

Doors 5pm — Concert 6pm Diane Stahl & Steve Reinhardt 870 South Clarkson Denver 80209 Seating is limited to 50 – Reserve your seats now! You don’t want to miss this fabulous musical experience! $20 requested for musicians. Drinks provided. Please bring your favorite dish to share. Get tickets at https://andyandrenee.com/tickets-tips-merch (scroll down to house concert)

Andy & Renee-House Concert, Priest Lake, ID

SAT, AUG 10 @ 5:00PM Home of The Songstad’s, 632 Hagman Road, Nordman ID 83848

Hosted by the Foley/Lyman/Songstad’s. Details TBA

Andy & Renee-The Hill’s Resort, Priest Lake, ID

WED, AUG 14 @ 6:00PM The Hills Resort, 4777 W LAKESHORE RD., PRIEST LAKE, IDAHO 83856

Andy & Renee-Moose Knuckle- Coolin, ID

FRI, AUG 16 @ 6:00PM Moose Knuckle, 10 Cavanaugh Bay Road, Coolin, ID 83821

Andy & Renee-House Concert/Livestream-Portland, OR

MON, Aug. 26th Doors 6:30, Show 7pm PDT. Co-hosted by Bob Boyle and Larry & Janet. 15555 SE Riverforest Dr., Oak Grove, OR 97267. $20 requested for musicians.

Andy & Renee-The Station House, Auburn, CA

FRI & SAT, AUG 30 & 31 @ 7:00PM — 10:00PM Station Public House, 750 Lincoln Way St.100, Auburn, CA 95603

Pro Songwriters’ Showcase – July

PROJECT BARLEY BREWERY, 2308 Pacific Coast Hwy, , Lomita CA 90717
Tue, Jul 16 @ 7:00PM — 9:00PM

This is a once a month (every third Tuesday) show that is designed as a listening room for world class songwriters, many with hit songs, long touring/recording associations with music legends ETC… to play their original music in an intimate setting. NO COVER BUT DONATIONS ARE STRONGLY ENCOURED AND GO TO THE SONGWRITERS. Project Barley serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. This month we are proud to present: RICK SHEA, TONY GILKYSON, BRIAN WHELAN

RICK SHEA

Longtime Southern California singer-songwriter Rick Shea got his early musical education in the bars and honky-tonks of San Bernardino where he grew up. With ten critically acclaimed albums, he’s performed all over Southern California, the West Coast, the US and in Europe, and built a solid career for himself as a solo artist, singer, guitarist and songwriter. Shea’s songs reflect the folk, country, rock and Mexican influences he grew up with. “Songs tell our stories and our history and songs were how those stories were shared in the past, I like to continue that tradition.”

60 miles east of Los Angeles where the urban sprawl starts to thin out and the desert starts to take over sits the old railroad town of San Bernardino. Shea says, “Growing up there were a dozen or more honky-tonks and truck stop bars on the outskirts. They were kind tough places but as a sideman and singer I could work 6 – 7 nights a week. That’s where I first heard a lot of those old songs – Merle Haggard, Lefty Frizzell and Buck Owens – every night.”

Shea’s recently released album Love & Desperation has gained a lot of praise as have his earlier albums. He is a deeply evocative singer and a formidable guitarist who doubles on steel guitar and mandolin. On his songwriting influences Shea says, “When I was younger Merle Haggard cast a long shadow, but since then Dave Alvin, Jim Ringer and a lot of other music has found its way in.”

If your tastes run toward hard working, literate, back 40 folkies like Tom Russell, Chuck Pyle, Jimmie Dale Gilmore and others like that, Shea is sure to be another that you’re going to dig. With a very personal edge to his writing and singing, this is classic folkie/troubadour stuff that cuts right to the chase and delivers moves that others can only turn into clichés. Check it out, it’s the real deal. – Chris Spector MIDWEST RECORD

A hauntingly nostalgic vocalist, imperative guitarist and literate, detail-rich songwriter, do yourself a favor. – Gary von Tersch, Sing Out

TONY GILKYSON

Born in Hollywood and raised in an environment of musicians, songwriter–guitarist Tony Gilkyson originally started recording as a boy with his father, Terry Gilkyson, a composer for Walt Disney and a prominent folksinger/songwriter in his own right. Artists he has played and recorded with include Lone Justice, John Coinman, Jake LaBotz, Ray Wiley Hubbard, Bob Neuwirth, Sam Phillips, Duke McVinnie, Jimmie Dale Gilmore, Peter Rowan, Larry Hosford, Rick Shea, Dave Alvin, Kip Boardman, Alice Cooper, Bob Dylan, Kris Kristofferson, K.D. Lang, Mark Olsen, Shane MacGowan, Ramsey Midwood, Mike Stinson, The Spoolies, Randy Weeks and Kathleen Wilhoite. He has produced recordings for sister Eliza Gilkyson and Dances with Wolves author and poet Michael Blake. With Tom Waits, he co-produced Chuck E. Weiss’s albums Extremely Cool and Old Souls & Wolf Tickets. In 2003 he produced the acclaimed Country for True Lovers by Eleni Mandell. He also has played guitar on numerous film sound tracks including the Johnny Cash biopic Walk the Line, as well as The Big Lebowski, Don’t Come Knockin’ and All the King’ s Men, with producer T Bone Burnett.

BRIAN WHELAN

There’s nothing wrong with Americana. ​Brian Whelan’s refrain on the opening track of ​Sugarland ​immediately lets you know what the singer, songwriter, producer, sideman, and all-around utility savant is all about. The song is cheeky, fast, and pulls no punches. There’s plenty of façade in Whelan’s Los Angeles, but that’s not what he’s here for. He’s here for the tunes.

If you’re a frequenter of the Cinema Bar in Culver City, no doubt you know the name Brian Whelan. As a young musician with half a boot still in USC’s music program, Whelan found the bar, found his people, and found his scene. Further down the line, you’ve come across him shredding GOE Sundays at The Echo in Echo Park, singing originals that gets the packed room dancing as much as the covers he slays.

But the name was really made playing with country, rock, and Americana stars, such as Houston’s own Mike Stinson, Nashville roots godfather Jim Lauderdale, and Los Angeles rocker Chris Shiflett. Whelan put his unmistakable mark on the national scene as the prolific sideman behind urban cowboy Dwight Yoakam, playing guitar, keys, pedal steel, and anything else that was required or requested. From budding fan to established keystone, Whelan is now at the center of that Los Angeles Americana scene he discovered years ago.

Perhaps the most interesting quality in Whelan is the one not hidden, but bleeding through every second of the 33-minute ​Sugarland​: earnestness. It’s a trait Los Angeles is bereft of; a town that wrings the optimism out of every heartland kid with an eye on the screen or a guitar in the trunk of that car that carried them west. The driving guitar riffs, the soaring vocals, and the love-fueled lyrics that define Whelan’s solo songwriting endeavors aren’t contrived; they don’t come from a flavor of the week proclamation on pitchfork or the current Coachella lineup. Brian Whelan can do a lot of things, but there are two things he won’t do – boring and bullshit.

JODI SIEGEL

Jodi Siegel, originally from Chicago, IL, is a singer, songwriter and guitarist. Over the years Jodi has opened for and or shared the stage with many respected musicians including: Albert King, Robben Ford, Robert Cray, J.D. Souther, David Lindley, Fred Tacket and Paul Barrere (Little Feat) and countless others. Her songs have been recorded by Maria Muldaur, Marcia Ball, Tommy Ridgley and Teresa James.

She has recorded two CD’S; Stepping Stone and her latest CD, “Wild Hearts,” produced by Steve Postell (Immediate Family, David Crosby, Eric Johnson, Robben Ford, Iain Matthews), is filled with great songs, cool grooves, intimate, smart lyrics and some of the best of the best musicians in Los Angeles today including; Mike Finnigan (organ, piano), Hutch Hutchinson, Abe Laborial Sr., Alphonso Johnson (bass), Russ Kunkel, Michael Jerome Moore, John Ferraro, Arno Lucas (drums, percussion), Joe Sublett (Saxophone) and Maxayne Lewis and Clydene Jackson (background vocals). Each song has a soulful delivery with an undeniable down-home elegance. It has received great reviews by Patrick Simmons (Doobie Brothers), Maria Muldaur, Walter Trout, David Mansfield (T Bone Burnett), Leland Sklar, Mike Finnigan and Doug Macleod to name a few.

South Bay Housing Prices Up, Sales Down

Median prices for real estate around the Los Angeles South Bay have risen over 40% since 2019, the year before the corona-virus pandemic. Comparing the median prices and sales activity for the first half of 2024 shows increases approaching 50% for the five year period in all areas across the South Bay.

Over the same time period, sales volume has plummeted by 22%, falling from 4,022 in 2019 to 3,149 in 2024. The Beach cities have been particularly hard hit with a 34% drop in the number of homes sold during the first six months of the year.

Looking at 2024 versus 2023 shows a similar pattern with median prices up nearly 10% from the first half of last year. The Beach area showed the lowest increases, coming in at 5% above the 2023 median.

Sales volume was off by 2% across the area with the only positive being the Beach at a mere 1% above 2023 numbers. As the 2024 year has progressed, the number of sales has declined in total. Simultaneously, more and more parts of the South Bay have fallen into negative growth.

As of the end of June, 2024 sales figures for all areas were negative in comparison to June of 2023. While the number of homes sold has consistently declined through the first half of the year, median prices have been equally persistent at increasing over last year. Most experts are attributing the increasing prices and decreasing sales to the shift from an ultra-low mortgage interest rate during the pandemic, to a comparatively high rate currently.

When rates were at the lowest, many homeowners took advantage of the opportunity to refinance at the incredible rates. Those folks are now in a position where they would incur a painful increase in monthly living costs if they were to move. That has resulted in about a 40% reduction in the number of homes typically available on the Multiple Listing Services (MLSs).

At the same time, the increased mortgage interest rates have pushed a significant number of potential sellers out of the market because they no longer qualify for the loan they would need to trade up to a larger or newer home. That reduced the available inventory of resale homes even further and became another contributing factor to the bidding wars among the few buyers still in the market.

Beach: Down 18% in Sales May to June

Monthly sales volume fell from 110 units in May to 90 homes in June, for an 18% drop. Median price jumped 10% in one month to end at $1,917,500.

Year over year, the number of homes sold declined from 124 in June of last year to 90 this year for a loss of 27%. Median price for the Beach climbed 11% over the year.

Year to date for the first half of 2024 versus the first six months of 2023 shows a modest increase of 1% in sales volume along with a increase of 5% in median price.

Harbor: June Median Price Off by 6%

The Harbor area was the outlier for June. While month over month sales collapsed and pricing jumped for the other three areas, Harbor sales of 342 homes boosted sales by 19%, coming in well above the 288 homes sold in May. Meanwhile, median price went the other direction, dropping from $848K in May to $799,900 in June, for a decline of 6%.

Year over year statistics went the opposite direction, following the rest of the South Bay. Sales volume fell by 3%, dropping from 124 in 2023 to 90 in June of this year. Meanwhile the median price was up 4% for the year, rising from $772,000 last June to nearly $800,000 this year.

The first six months of 2024 brought a year to date sales drop of 4%. The median price in the same period climbed 9%.

Short term changes, as from month to month, have been unpredictable since the pandemic. Looking at the longer term, there is consistency in the declining sales volume and increasing median price. With 2024 a presidential election year, it will be interesting to see how long this direction holds.

Hill: Year Over Year Sales Fell 24%

With a reputation for wildly shifting statistics, the Palos Verdes Peninsula came in with relatively modest decline of 9% from May sales. Similarly, the increase in median price was very tempered at only 3%.

The sales volume for same month last year was anything but mild. June of 2023 reported 79 homes sold versus 60 homes in June of 2024. That’s a 24% drop in volume from last year. While a fourth of the 2023 sales disappeared, the median price eked out a 1% increase, going from $2,000,000 last June to $2,912,500 in June of 2024.

In what is becoming a familiar trend, the year to date sales volume is down 2%, and the median price for the first six months of the year is up 7%.

Inland: June 2024 Sales Drop 24% From 2023

The Inland area showed the smallest month to month change of the South Bay. The 4% drop in sales volume from 128 homes sold in May to 123 in June was minor. Likewise the 1% increase in median price from $945,000 to $955,000.

Like the Hill, the Inland area had a radical drop in sales from June of 2023 to June of 2024. Falling from 161 homes sold last June to 123 sold this June resulted in a 24% drop in transactions. Median price in the same period rose 9%, from $875,000 to $955,000.

Interestingly, there has been no statistically significant change in the sales volume for the first six months of the 2023 and 2024 years. It actually increased by three units from 669 homes sold in 2023 to 672 homes sold in the first half of 2024. For the same time periods, the median price climbed by 6%.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo Montemalaga Sunset by Carl Clark

How To Deal With Summer Pests

For many people, summer is supposed to be the ideal time to relax. Unfortunately, summer also comes with a few annoyances — namely, pests and overbearing heat. Fortunately, if they’re dealt with effectively, you can still enjoy your summer.

Different types of bugs have different living conditions. That can make it hard to cover for every single type, but it becomes easier if you know why they’re coming. Dealing with fruit flies and dust mites can be made easier by simply cleaning, but there are also more specific things you can do. Fruit flies are attracted to overripe fruits, and dust mites like high humidity. There’s also a trick for mosquitoes — they can’t fly well in windy weather, so you can use fans as a substitute to deter them.

As for the stifling heat, it may be that some rooms are hotter than others. In fact, this is probably the case even if your AC isn’t on — but it’s especially the case if your AC is on and there’s a problem with it. Your ducts may not be properly sealed, or the fan may not be working right. If applicable, direct more cool air to upstairs areas, since the heat rises. The heat can also cause issues for doors, as heat and humidity can cause wood to expand. This could make your doors stick or jam. You may need to adjust weather stripping, or possibly even shave the door down.

Photo by Ainsley Myles on Unsplash