It wasn’t long ago that homes in 360 South Bay and “price drops” didn’t seem to go together.  In 2018 it seemed that almost every listing sold over list price, at list price or pretty darn quickly.  Either way homes didn’t sit on the market long enough to see list price decreases.  With the recent major uptick in available homes for sale, that has depressed demand a bit which has left some homes, especially the ones overpricced to begin with, in an unusual situation.

Of the 8 current homes for sale in Three Sixty South Bay, 3 of them have reduced the original list price.  What makes it even more interesting is that the price reductions haven’t seemed to have much of an impact as the three homes (as of 4/7) are still on the market.  Some of it is due to homes simply coming out priced too high as sellers want to exceed the previous high water mark and some is clearly due to a lessening of demand.  Only time will tell if this is a temporary blip or the start of a trend in 2019

Address	Style	List Price – Original List Price	$/Sqft	Bed/Bath	Sqare Feet*
5550 Boardwalk #105	Lofts	$649,999 –  $695,000	$566	1/1,0,1,0	1149/SEE
5535 Ocean #105	Court – Townhome	$799,999 –  $819,000	$606	2/2,0,1,0	1320/A
5429 Strand #103	Row – Townhome	$879,000	$513	2/3,0,0,0	1714/B
5565 Ocean #106	Court – Townhome	$900,000	$463	3/2,0,1,0	1942/B
5441 Ocean #101	Row – Townhome	$1,099,000	$539	3/3,0,0,0	2040/
5565 Palm DR	Terrace	$1,129,000	$598	3/2,0,1,0	1887/T
5523 Palm DR	Terrace	$1,279,000	$585	4/2,0,1,0	2187/A
5240Pacific Terrace	Terrace	$1,349,000 –  $1,399,000	$557	4/3,0,0,0	2423/A