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In Manhattan, Redondo and Hermosa Beach, the real estate market is currently favoring sellers. Home sales have been surpassing the available supply, leading to increasing demand. The Market Action Index, which indicates market conditions, has been on the rise for several weeks. As a result, there is likely to be upward pricing pressure in the near future if this trend continues.
On the other hand, the real estate market in Hollywood and Beverly Hills has been stable recently, with balanced sales and inventory, resulting in steady prices. The low inventory levels maintain the market as a Seller's Market. Keep an eye on the Market Absorption Index (MAI) for any changes. If the market becomes more active, with higher demand and lower inventory, prices are likely to rise again.
DRE # 01503199
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