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August 2023 Market Highlights

Recent weeks have seen the market gaining momentum, indicating a Seller's market with rising prices due to lower inventory. Notably, Marina Del Rey bucks this trend with a decreasing Market Action Index, keeping prices steady. If inventory continues to outpace demand, it could lead to some price decline.

Home sales continue to outpace supply, pushing the Market Action Index higher. This Seller's market might see further price increases if this trend persists.

Hermosa Beach's market has balanced sales and inventory, but prices are slightly dipping. Despite supply suggesting a Seller's market, downward price pressure is expected to be moderate. Watch for an MAI increase before prices stabilize.


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