As of the end of February I have sold and closed escrow on 4 properties (5 sides) for a total of $5,110,500 in sales. Curiously the last two sales were homes that never even hit the MLS (Spreckels and 11th St). I have one more in escrow, 70 Cypress in Rolling Hills Estates, which is a 2 bedroom pus den townhouse that is selling for $695,000. That one should close by 3-12.
The state of the market right now is "active". While some areas still have an over supply of inventory and are experiencing price declines, there is not adequate inventory to satisfy the current buyer demand in other segments. Well, let me qualify that somewhat. Well priced properties in desirable areas are selling if they show well and are easily accessible. Torrance and North Redondo have strong demand as does RPV, particularly in the Hawthorne Blvd corridor close to Peninsula Center.
While there are now more REOs in the better South Bay neighborhoods than a year ago at this time, most aren't being priced so as to depress neighborhood prices.
My new blogsites, www.90266realestate.com (Manhattan Beach) and www.90278realestate.com (Redondo Beach) seem to be getting traffic. As they are more targeted than this format, I intend to expand on the idea.