The 90720 zip code market broke below its 12-month average sales volume this week as sales fell 26.3% to hit 14 homes sold over the last 30 days. In comparison, the nearby 90740 zip code had 40 sales in the same time frame, the most of all neighboring zip codes. The median sales price continued to fall, trending downwards for four weeks to reach $826,000. In spite of the falling prices, a low two months of inventory signals that the 90720 zip code is still a solid seller's market.
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