Marina del Rey CA Condominium Sales Activity Report(first of many)

The Media ( I include Newspapers, Television as well as the Internet), has been bombarding every one with how bad the Real Estate market is. I have been telling everyone who was willing to listen , the situation is not as bad as the media presents. I have also emphasized that Real Estate is not regional or national, rather it is Local. Consequently people have asked me to back up my statement.

With that said I went into the Multiple Listing Service’s Data base(MLS-CLAW). I took a snapshot of June 28,2008 to July 28,2008 and then from July 28, 2008 to August 28, 2008.

So lets look at the numbers for Marina Del Rey :

June-July (30 Day period) there were 16 Condominiums that SOLD

July-August (30 Day period) there were 19 Condominiums that SOLD

As of today there are 36 Condominium that are Pending in other words in the pipeline to close. Let us say for the sake of worst case scenario 10% falls out of Escrow, that means in September there will be 32 Solds.

So obviously this is not  such a dooms day scenario as things are put out by the media. By the way the least expensive Condominum was $415,000 and the most expensive was $2,050,000 for the period of June- July. The least expensive for  the period of July- August  was $365,000 and the most expensive sale was $1,875,000. Now the Pending we do not know the sales price.(will post it next month)

Hope you find these numbers intresting. If you have any questions or comments, please let me know.