There is an article in todays Daily Breeze about the South Bay real estate market. The headline sounds awful but if you read the article you will find that the South Bay real estate market, while not great, is doing better then many of the other markets in California and LA County. Although prices have declined in the South Bay .. turns out it has been 8.4% compared to last year. This is for all the South Bay with the exception of Palos Verdes, Lomita and Inglewood. Lomita and Inglewood are really more aligned with the Los Angeles market then the South Bay market. Palos Verdes has their own MLS and their statistics are not part of those used by the breeze article.

 The Beach Cities seem to be doing a tad better. The number of closed home sales in the Beach Cities was up in March, 2008 compared to February 2008 for all the Beach Cities except El Segundo. The number of pending sales is also up in all the Beach Cities except El Segundo. El Segundo had a slow month! Inventory is fairly stable in the Beach Cities with the exception of the number of single family homes for sale in Manhattan Beach. Surprisingly the increase in inventory in Manhattan Beach was about the same as the increase in the number of pending sales and closed sales. I dont know if there is any significance in the numbers or if this is just an anomaly.

 South Bay-Beach Cities:SOLD March 2008