Yesterday i wrote on the i call the super luxury home market, those homes charging over $5 m. Today i allowed us take some of the luxury homes priced between $2 m to $5 m inside south gulf. Specifically, i am focusing on manhattan beach, hermosa beach, and redondo beach for this. The trends in this niche on the market change from the super luxury market in a few interesting methods in which. First, sales did not peak in 2006, but rather in 2007. Second, the inventory of unsold homes stands at about 14 months as opposed to the 19 months for the super luxury market. Finally, and this is quite telling, sales up to now this year are way off among the number of sales this particular past year.
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