"It Hasn't Been This Tough in the South Bay for a While"

At least we beat out LA County.

South Bay home price slide continues
By Muhammed El-Hasan, Staff Writer

The South Bay housing market continued its skid in March, with every local city and community cited in a new report seeing a drop in median home price.

The South Bay, excluding the Palos Verdes Peninsula, experienced an 8.5 percent year-over-year drop in median home price to $599,500 in March, the Los Angeles-based California Association of Realtors reported Friday.

The Hill saw a drop of 1percent to $1,225,000 in March.

The median price refers to the middle figure where half of homes sold for more and half for less.

Housing prices have been dropping statewide and across the nation as fewer buyers are able to qualify for home loans amid a tightening of standards and a souring economy.

"It hasn't been this tough in the South Bay for a while," said Adolph James, a Realtor with Shorewood Realtors in Manhattan Beach.

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