Andy & Renee – 2024 Year End

Andy & Renee-The Lighthouse

TUESDAYS @ 5:30PM — 7:30PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833, Hermosa Beach, CA 90254

Andy & Renee-Banana Leaf

THURS, DEC 12, 19 @ 6:30PM — 9:00PM Banana Leaf & Beach Cities Social, 1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee-Terranea Lobby Bar

FRI, DEC 13 @ 7:00PM — 11:00PM Terranea Lobby Bar, 100 Terranea Way, Rancho Palos Verdes, CA 90275

Andy & Renee & Hard Rain-The Lighthouse

SUN, DEC 29th @ 2:00PM — 5:00PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833, Hermosa Beach, CA 90254

Andy & Renee & Hard Rain-New Year’s Eve Party-SOLD OUT

TUE, DEC 31 @ 8:00PM The Grand Annex, 434 W. 6th St., San Pedro, CA 90731.

Songwriters’ Showcase – December 2024

This coming Tuesday we are ending the year with a big bang and not a whimper! Two exceptional vocal groups – Barley (doing a rare acoustic set), and the talented women from JAKL! They are very different musical groups and styles, but equally cool! Perfect for a rocking cool Yule night of reckless abandon! I’ll be playing a set of mostly new songs and even a holiday song from a few years back!

Jodi Siegel

Jodi Siegel, originally from Chicago, IL, is a singer, songwriter and guitarist. Over the years Jodi has opened for and or shared the stage with many respected musicians including: Albert King, Robben Ford, Robert Cray, J.D. Souther, David Lindley, Fred Tacket and Paul Barrere (Little Feat) and countless others. Her songs have been recorded by Maria Muldaur, Marcia Ball, Tommy Ridgley and Teresa James.

Barley

Since 2010, Barley has been an unstoppable musical force in South Bay Los Angeles.

You may have seen Barley opening for such acts as Toad the Wet Sprocket, Colin Hay, Vertical Horizon, Iron Butterfly, Robbie Krieger of the Doors, or many, many others.

Barley can also be found performing at some of Southern California’s largest festivals, including Beach Life, KAABOO, Concerts on the Beach, Music on the Meadows, Fiesta Hermosa, and hundreds of other stages big and small.

Jakl

JaKL, (Jaynee Thorne, Karen Tobin, Leslie Barker) The Los Angeles-based singer/songwriters with numerous recording credits, have joined forces, talents, songs, and harmonies to create a compelling vocal blend. Their sound is acoustic, organic, and unique. Their well-crafted original songs, as well as choice selections from other esteemed writers, involve the listener in their meticulous arrangements and this labor of love…

South Bay High End Market Hits Wall

On the heels of an encouraging October real estate market, November saw the South Bay market plummet into the red. Compared to last month the number of homes sold fell by nearly 30%, while the median price collapsed at the Beach and on the Hill. At the same time, the Inland and Harbor areas showed modest growth in median price, posting a 2% gain in both areas.

This was a surprising downturn following across the board sales growth in the October market, accompanied by generally positive price appreciation.

Looking at year over year, same month sales provides a slightly more positive result. Both the Beach and the Hill show the number of homes sold down by 3% and 13% respectively. The Harbor area maintained sales growth of 2% while the Inland area increased by 4%. Both areas were off substantially from the 20-30% increases of October.

Year over year median prices were equally depressed. The Beach and the Hill, the high end of the South Bay market, both lost ground in the single digits. The Harbor and Inland areas, which make up the bulk of sales in the South Bay, grew at 4% and 5% respectively.

It’s too early to attribute this shift to the election results because most of the transactions closing escrow in November would have been negotiated in October. If anything, the decline reflects nervous anticipation leading up to the election. December sales will provide a much more definitive indication of how the public has reacted to the election results.

For right now we know that current sales volumes are running about 10% below December of 2023. And, we know that December last year was lower than December 2019 by 30%. Back at the end of October conditions seemed to be improving, but today it would seem we are still trying to climb out of the Covid trough.

Beach: Sales Off 35% for November

The number of homes sold in the Beach Cities dropped from 127 in October to 83 in November showing a 35% decline for the month. At the same time the median sales price dropped from $1.9M in October to $1.65M in November for a loss of 13%.

On an annual basis sales volume was off by 3% compared to last November, while the median price was flat.

Year to date, 1,059 Beach homes have been sold compared to 1007 during the first 11 months of 2023. This is a 5% increase in the number of homes sold. The median price rose 7% from $1,675,000 last year to $1,787,500 year to date.

Harbor: Sales Fall 26% in November

Harbor area home sales plunged 26% from October, dropping to 256 units from 345 sold last month. At the same time the median price climbed 2%, to $787,500 from $775,000.

On the flip side, same month, last year sales moved the opposite direction, rising 2% this year compared to 252 homes sold in November of 2023. The median price this November was up 4% over the $760,500 recorded in November of last year.

With only one month remaining in the year, the Harbor area displays modest increases in both the number of homes sold so far this year and the median price of those homes. Annual sales have reached 3,160 to date, 3% higher than last year’s 3,076. Median prices for the year have climbed from $740,000 last year to $780,000 this year.

Hill: Market Drops 39% for the Month

Home sales on the Palos Verde Peninsula dove down 39% from October to November, wiping out all but 1% of last month’s gain. As mentioned in the October issue, during the last quarter of 2023 mortgage interest rates were hitting around 8%, which drove the South Bay market to a standstill. The fact 2024 sales volume is falling below 2023 is a concerning matter. Interest rates are once again pushing up against 8%, which has been an impenetrable barrier in recent years. While the number of homes sold dropped precipitously, the median price came in with only a 6% decline, falling from $1,914,500,in October to $1,805,000 in November.

Comparing November of 2023 to November this year turned up a steep fall again. This year brought a sales volume decrease of 13% accompanied by another 7% drop in the median price.

As 2024 heads for closure, the dramatic swings of earlier in the year are mellowing out. Through November, the 597 sales on the Hill have settled in at just 1% above last year. Similarly, the median price, which has ranged from an increase of 26% to a decrease of 15% throughout the year, is coming in at 3%, or $1,927,500.

Inland: Home Sales Collapse by 22%

November sales of 111 homes in the Inland area totaled a 22% drop from the 143 sold in October, rounding out a total decline of 28% for South Bay real estate this month versus last month. Despite the fall in month to month sales volume, the Inland area enjoyed a 2% increase in median price over October.

Same month last year sales increased by 4%, moving up from 107 units in 2023. At $895,000, the median price for November Inland area homes was up by 5% over the $851,000 of last year.

Looking at year to date sales volume of 1,313 shows a mere 1% increase over January-November of 2023 when 1,302 homes sold. Median price fared higher, with a 3% jump from $867,500 to $895,000 this year.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by CURTIS HYSTAD on Unsplash

Live Music at the Annex for the Holidays

Pickle and Her Big Band

Saturday, December 7 / 8 PM

Lead singer and drag queen Pickle with her 9-piece Big Band perform American Songbook classics and contemporary pop songs from k.d. lang to Katy Perry.

Pickle, LA’s premier singing drag queen and host, will be performing her very first drag holiday show with her 12-piece big band! A Los Angeles native, she started playing dress-up as a child and got into the drag sphere as a student at Hamilton High School Academy of Music. She began establishing her drag identity and artistry at Sarah Lawrence College, where she received her BA in Liberal Arts. TICKETS

New Years Eve Celebration with Andy. Renee and Hard Rain

South Bay folk-rockers return with hits from across the decades. Includes late-night pizza, party favors and a champagne toast to start off 2025!

Andy Hill and Renee Safier with their band Hard Rain have been referred to as “America’s best kept secret.” Performing over 200 shows a year, the band delivers a style of Americana folk-rock that’s thoughtful, musical, danceable and full of memorable hooks.

Andy & Renee – Live Music for the Holidays

Upcoming Shows:

Andy & Renee-The Lighthouse

TUESDAYS @ 5:30PM — 7:30PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833, Hermosa Beach, CA 90254

Andy & Renee & Hard Rain-Thanksgiving Event at the Midnight Mission

THU, NOV 28. To volunteer, go to https://www.midnightmission.org/get-involved/volunteer/

Andy & Renee & Marty Rifkin- Holiday Cookie House ConcertSOLD OUT!

SUN, DEC 1 @ 5:00PM Home of Renee Safier & Patrick Summar

Andy & Renee-Terranea Lobby Bar

FRI, DEC 13 @ 7:00PM — 11:00PM Terranea Lobby Bar, 100 Terranea Way, Rancho Palos Verdes, CA 90275

Andy & Renee & Hard Rain-The Lighthouse

SUN, DEC 29th @ 2:00PM — 5:00PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833, Hermosa Beach, CA 90254

Andy & Renee & Hard Rain-New Year’s Eve Party

TUE, DEC 31 @ 8:00PM The Grand Annex, 434 W. 6th St., San Pedro, CA 90731. Get tickets and info at https://grandvision.org/event/andy-renee-hard-rain-new-years-party/

South Bay Real Estate Leveling Off

It looks like the real estate market is finally climbing out of the Covid trough. Each passing month this year has shown red ink, mostly on sales volume, and a lot on median price as well. October brought some relief in that the number of homes sold is up in every area, and median prices are only down in half the South Bay.

The number of South Bay homes changing hands has varied considerably since 2019. Sales staggered briefly after the spring shutdown in 2020, then recovered mid-year as the interest rate continued down. Rock bottom interest rates pulled in buyers and homes flew off the market with bidding wars. In the final quarter of 2022 sales plummeted and the buying spree ended.

YearHomes Sold
20197,100
20208,581
202110,279
20227,616
20236,481
2024proj6,636

If this is indeed the beginning of a normal real estate market again, it’s possible to see reaching the pre-pandemic sales volume in 2025, but more likely in 2026.

The median price is another story. Interest rates were hovering around 3.5% in spring of 2020. The Federal Reserve opened the money spigot to keep the economy flowing while everyone was locked down. For about 15 months mortgage interest rates were below 3%. Historical data sourced from Freddie Mac shows that rates dropped below 4% starting in June of 2019 and lasting until March of 2022. Nearly three years of sub 4% rates makes the current +/-7% a significant deterrent to buying a new home or trading up.

During that period, buyers took advantage of the low rates to boost their offering prices for homes, creating a sellers’ market and bidding wars. The median price sky-rocketed in 2021 and continued through the first of the next year. In summer of 2022, median prices started falling and dropped until late in 2023. Across the board, median prices have been modestly positive since the beginning of 2024.

Certainly it’s all relative, and the market is adjusting, both on the side of higher prices and higher interest rates. But, with today’s median prices roughly 40% above 2019, the number of buyers who can qualify for the necessary loan is way down. A 2024 Q3 estimate from the California Association of Realtors shows only 15% of households in Los Angeles County can afford the median priced home. That compares to 56% in 2012, which leaves a lot of buyers on the sidelines.

The election is over and the incoming administration is clearly pro-corporate. Over the next couple months the dynamics of the shifting markets will become clearer. By the new year we should have a better understanding of the impact to our local real estate. As of October, declines are leveling off and sales are starting to pick up.

Beach: YTD Sales Up 6%, Prices Up 7%

The number of homes sold in the Beach cities increased by 11% in October, rising from 114 in September to 127. The median price of Beach properties went up from $1,790,000 to $1,900,000, a 6% jump in monthly figures.

Annually, October this year showed a whopping 61% increase in sales over October of 2023, climbing to 127 homes this year versus 79 last year. Over the same one year span, the median price rose 19%.

In view of the huge increase, it’s important to note that October of 2023 is the month mortgage interest rates started toying with 8%, which the buying public simply wasn’t accepting. While lenders and the Fed worked to lower rates, real estate was “in the tank” for last quarter of the year. After the beginning of 2025 the year over year percentages should level out.

January through October, the number of homes sold this year hit 976, 6% more than were sold in the same time period of 2023. Median price at the Beach climbed to $1,788,750 for a 7% increase over last year.

Harbor: YTD Sales Up 3%, Prices Up 4%

October sales in the Harbor area came in at 345 homes for a 9% increase over September. The median price was $775,000, up 2% from the prior month.

Looking at year over year for the same month, this October showed a 29% improvement over the 267 homes sold last year. As noted earlier, home sales took a significant drop in the last quarter of 2023 due to mortgage interest rate hikes. The year over year median price was a much more reasonable 3% increase.

For the first ten months of the year, sales volume has gone up by 3%, to a total of 2,904 homes sold. Over the same period, the median price has jumped up 5% to $778,500.

Hill: YTD Sales Up 2%, Prices Up 5%

On the PV Peninsula, October sales outpaced September by 40%, coming in with 66 homes sold versus 47 the preceding month. It’s important to remember that the Palos Verdes market is the smallest of the South Bay, so a handful of transactions can make a huge difference in either, the sales volume or the median price. The steep increase in sales was accompanied by a more modest increase of 13% in median price, ending the month at $1,914,000.

Comparing October to the same month last year reveals a 5% boost to the number of homes sold. On the other hand, the median price took a fall, dropping by 2%.

Year to date, home sales on the Hill have increased 2%, from 544 in 2023 to 557 this year. For the same ten months, the median price went up 5% to $1,938,750.

Inland: YTD Sales Up 1%, Prices Up 2%

Home sales in the Inland area have been stable, with an increase of 12% in the number of transactions, from 128 properties sold in September to 143 in October. A 1% drop in the median price from last month to this brought the median down from $882,500 to $875,000.

Annual sales in October of this year ended 23% higher than October of 2023. The median price, going the opposite direction, fell 5% from $917,000 last year.

Continuing the relatively modest numbers, the Inland area has risen 1% in the number of homes sold year to date, The 1202 sales reported so far, compare to 1195 sold in 2023. Similarly, the median price is up 2%, having risen from $871,250 last year to $891,245 this year.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by Corey Buckley on Unsplash

Live Music at the Grand Annex

Taylor Made Tapestry

Sat, Nov 09, 2024,
Doors at 7:00 PM
Music at 8:00 PM
Tickets

In November of 2007, Carole King and James Taylor performed at the Troubadour in honor of its 50th anniversary. The concert was a reunion of the two artists, who performed regularly together at the West Hollywood rock club in the early ‘70s.

Honoring the legacy of both performers and their legendary musical collaboration, Stephen Bock of the stellar James Taylor tribute band Taylor Made joins forces with Carla Buffa of the popular Southern California Carole King tribute band Sweet Seasons.

Windy Sings Whitney & Wine Tasting🍷

Sat, Nov 16, 2024
Doors at 7:00 PM
Music at 8:00 PM
Tickets

Chicago native and our very own San Pedro local, Windy Barnes returns to the Annex to grace the stage with the music of Whitney Houston, followed by a full set of some of the best songs of the 1970s.

Zepparella

Fri, Nov 22, 2024
Doors at 7:00 PM
Music at 8:00 PM
Tickets

Experience the classic rock of Led Zeppelin in the intimate setting of the Grand Annex. “To be able to get swallowed up by these songs in a smaller venue is where the power is,” says Clementine, Zepparella’s founder and drummer.

Hear favorites like “Dazed and Confused” and “Whole Lotta Love” and less often covered songs like “The Rover.”

Kyshona

Sat, Nov 23, 2024
Doors at 7:00 PM
Music at 8:00 PM
Tickets

Kyshona blends blues, soul, rock and folk to express uplifting themes of hope and empowerment. Her 2024 album Legacy is a moving musical manifestation of her own genealogical research, incorporating choir performances and sermons from her family archive. The Boston Globe and The Tennessean have praised how Legacy plays with various genres originating in early African American history to call back to and honor Kyshona’s ancestors.

Live Music – Andy & Renee and Hard Rain

The Lighthouse

30 Pier Avenue,
Hermosa Beach, CA 90254
310-376-9833

Andy & Renee play as a duo every Tuesday from 5:30pm to 7:30pm.

Andy & Renee and the full Hard Rain band will perform Sunday, Oct 27th and Dec 29th  from 2:00pm to 5:00pm.

Banana Leaf & Beach Cities Social House

1408 S Pacific Coast Highway,
Redondo Beach, CA 90277

Andy & Renee play every Thursday from 6:30pm to 9:00pm, October performances are scheduled for Thursday, Oct 10, 17, 24, & 31 from 6:30pm to 9:00pm

Terranea Lobby Bar

100 Terranea Way,
Rancho Palos Verdes, CA 90275

Andy & Renee will perform as a duo on Saturday, Oct 19 and on Monday Oct 28 from 7:00pm to 11:00pm

King Harbor Yacht Club

200 Yacht Club Way,
Redondo Beach, CA 90277

Andy & Renee will perform as a duo for a Members Only party Friday, October 25th, 6:00pm to 9:00pm.

Holiday Cookie House Concert

Andy & Renee accompanied by Marty Rifkin on the pedal steel perform at this annual event. In addition to the music, and the typical buffet, there will be generous helpings of Renee’s homemade cookies!

Sunday, Dec 1 @ 5:00pm at the home of Renee Safier & Patrick Summar, 516 N. Francisca Ave., Unit C, Redondo Beach, CA 90277

Tickets available soon!

New Year’s Eve Party with Hard Rain

You don’t want to miss Andy & Renee and the Hard Rain Band for this New Year’s Eve extravaganza. An evening of music and merriment at the Grand Annex with champagne for all!

Tuesday,, Dec 31 @ 8:00pm at The Grand Annex, 434 W. 6th St., San Pedro, CA 90731.

Tickets and info at https://grandvision.org/event/andy-renee-hard-rain-new-years-party/

South Bay Home Sales Flat on Rising Prices

At the end of the third quarter for the real estate market in the Los Angeles South Bay, 4,958 homes have sold, compared to 4,959 sold during the same period in 2023. Essentially, that is 0% growth. Median prices, however, have climbed over 5%, despite the high interest rates.

Sales activity across the South Bay was mixed, though in a narrow range. The Inland area saw 2% fewer home sales on a year to date basis than last year. At the same time, the Palos Verdes Peninsula gained 2% over 2023. The Beach area was up 1%, while the Harbor area came in flat.

Median prices during the first nine months of the year recovered the losses of the same period in 2023. Last year, median prices fell nearly every month from January through September, only beginning to recover growth in September. This year the median price has shown a strong increase since the beginning, ranging from 4% for the Inland area to 8% for the homes on the Hill. The Beach and Harbor areas rose with 7% and 6% respectively.

It looks like this winter is going to continue the wild ride. The Federal Reserve lowered the prime interest rate by half a point in September. Then, after a positive employment report for September, mortgage lenders raised their advertised rates back up to where they were in mid-August! The national election will undoubtedly have it’s own impact, even here in our relatively placid part of the world.

Among the early market indicators which may give us a hint of where the market is headed, one not commonly discussed is the number of homes which don’t sell. The comparison is established by looking at the number of home listings which are expired, cancelled or withdrawn from the market versus those which closed escrow. During the first three quarters of 2024, out of 6,179 homes on the market, 4,958 of those sold. At the same time, 1,221 or, 20% of the total, failed to sell. These percentages are not significantly different than a normal year.

In a high turn-over market such as that of 2021, at best one might expect as little as 12% to not sell versus a slow-moving market where one might expect as much as 25% to fall off the market unsold. It would be fair to say the local market for real estate is languishing, but it appears to remain afloat despite volatile news in all corners of the world. The next issue of this newsletter will arrive after the national elections. There should be more to talk about then.

Beach: Sales Lag and Prices Leap

With 114 homes sold in September, the Beach Area sales jumped up 21% above August figures. The median price likewise took a 5% leap to $1,790,000 in monthly sales.

Comparing September 2024 home sales to the same month in 2023 reveals a less dramatic shift. The number of homes sold is 6% greater this year and the median price increased by 7%.

Year to date sales volume of 849 homes at the Beach showed a modest 1% increase over the first nine months of 2023. Monthly variations have been as high as 33% and as low as -27% during the first three quarters making the cumulative 1% value a bit of a surprise. Equally surprising in light of the 1% growth in the number of homes sold, is the 7% increase in median price to $1,787,500 for the same period of time.

Harbor: Sales Slow, Median Prices Up

Monthly sales in the Harbor area totaled 317 units in September, a 9% increase over the number sold in August. At the same time, the median price for Harbor area homes dropped 3% to $760,000.

Looking at year over year sales for the month of September showed a 27% growth in home sales over 2023 and a 2% increase in median price.

During the first three quarters of 2024 2,559 homes were sold in the Harbor area, compared to 2557 last year, registering as a 0% change. The median price for year to date sales came in at $780,000, a 6% increase over the same period in 2023.

Hill: Plenty of Red Ink

August was a particularly busy month in Palos Verdes real estate, so the 11% drop in sales volume for September was somewhat expected. Falling from 53 homes sold to 47 is a short fall, but the marketplace on the Hill is small, so percentages escalate quickly. The median price also took a nosedive from $2,150,000 to $1,700,000, a 21% drop. Interestingly, those prices are the highest and the lowest in PV for 2024.

September of last year was exceptionally strong on the PV Peninsula, both in terms of sales volume and price. As such, the relatively anemic sales of September 2024 brought lots of red ink. The number of homes sold fell by 16%, while the median price came down 13%

Year to date, PV has had five positive months and four negative months. Cumulatively, the Hill has a 2% increase in the number of homes sold, going from 481 last year to 491 this year. During the same nine months, the median price moved up 8% ending at $1,950,000 for the period.

Inland: Mixed Results on YTD Activity

Month to month home sales in the Inland area were modestly positive. With 128 units sold in September, the volume was up 9% from August activity. The median price gained 1%, coming in at $882,500 for the month.

Comparing September of 2023 to this September brings a 2% decline in the number of homes sold. The median price for the same comparison also dropped 2%.

The first nine months of the year arrived with 2% fewer sales than the same period last year. The Inland area was the only part of the South Bay to fall in sales volume or median price so far in 2024. Year to date the median price rose 4% above 2023, to $899,990 the slowest growth of the South Bay areas.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by Rachel Cook on Unsplash

Why August Home Sales Look So Bad

Monthly sales of homes across the South Bay dropped an average of 15% in August, with volume falling off as much 27% on the Hill and 20% at the Beach. Annual sales volume was likewise down by 15%. But, it’s really not all that bad. August saw a confluence of unique events making sales volume look more depressed than it really was.

At least three factors played into the numbers. July of this year showed very elevated sales compared to earlier months in 2024 and compared to August. That brought the line down for August.

Then, August was a particularly strong month for sales in 2023, which made this year’s more average numbers look like a slippage.

Added to those mathematical twists is contemporary psychology. The Fed is widely expected to drop the interest rates in September, so buyers are standing back, waiting an extra month or so to save dollars and/or buy more house.

The year to date sales volume tells a truer story. Home sales across the South Bay are off 1% from 2023. The percentages range from -3% in the Harbor area to 4% on the Hill. Generally speaking, sales this year have come in fits and starts with the up and down movement balancing out for the year to date.

As one would expect, median prices were down from this July, though not quite as dramatically as the drop in sales would imply. The median moved up 8% in PV, while the other areas dropped roughly 10%. (It’s worth noting that the low volume of business on the Hill gives rise to highly variable statistics.)

Looking back to August of last year, shows a much tamer comparison to the change in median price. The increase ranges from 1% at the Beach to 4% in the Harbor, with PV–the frequent outlier–at a 26% increase in the median.

With eight months of data now available, the year to date median price is beginning to show moderation from the highs of earlier this year. The Beach and Inland areas are at a 6% increase over last year, while the Harbor area is at 8% and Palos Verdes is showing 11%. If lower mortgage interest rates materialize, that could boost both sales volume and median prices this fall. At the same time, the hotly contested presidential election may keep a lid on the market until winter.

Beach: Not a Good Month

Showing only 94 homes sold for the month of August, the Beach cities took a 20% dive from July sales volume. At the same time, the median price dropped 9% for the month to $1,7M.

Topping the 20% fall from July, year over year August sales were off a whopping 26% from July of 2023. Median prices, on the other hand, rose a modest 1% over the same month last year.

As mentioned earlier, the year to date numbers are more indicative of where the current market is headed. The number of homes sold for the first two thirds of the year registered positive (barely–with a 0.13% increase). Over the same period of time, the median price at the Beach has risen 6%.

The falling sales volume coupled with the increasing median price is fallout from the troubling economic issues that arrived concurrent with the pandemic. Much of the developed world was on the precipice of a recession when the pandemic occurred. The response to the medical threat pushed the financial danger to the side and now we’re looking at the aftermath of all those events.

Harbor: Mostly Down

The Harbor area looked very much like the Beach in August, albeit with slightly less dramatic swings. On sales of 290 homes, the month over month volume dropped 8%. That matched exactly an 8% decline in the median price from July transactions.

Comparing to the same month last year, Harbor area homes sales dropped off by 12% from July last year. The decline was accompanied by a 4% increase in median price from July of 2023.

Year to date statistics for the Harbor area came in more constrained than the month to month and year over year numbers. For the first eight months of the year, the number of homes sold slipped by 3%, while the median price escalated by 8%.

Hill: Looking Up

Sellers on the Hill created some radically varied numbers in August. The number of homes sold fell from July even more than at the Beach, coming in at a mere 53 units, for a 27% decline in sales volume. But, those buyers pushed the median price up to $2.15M for a 7% increase while the rest of the South Bay fell by as much as 13%.

The numbers look even better when comparing August sales to the same month last year. Sales volume was up 8% over August of 2023. Median price was up a shocking 26% over last year. A more detailed look shows August was the lowest median price of the year, after February.

Once again, the year to date perspective offers the calmest view of the real estate market. Through August, residential sales were up 4% over the same period in 2023. Median price was up 11%.

Inland: More Down Than Up

Following the trend line, the Inland area moved down from July. Sales volume fell 18% to 117 homes. Concurrently, the median price dropped 13% to $875K.

The number of sales fell by 21% from August of last year, showing continuing impact from high mortgage interest rates and reduced inventory. As with the rest of the South Bay, many sellers are holding property off the market. Many are waiting for more favorable interest rates for their buyers and on their replacement home. Some took advantage and financed at interest rates below 3% and won’t be back in the market for years.

Insert 202408_revenue_comparison_2019.png

Sales from January through August show 2024 down 2% from 2023 in number of homes sold. Median price for the same period reflect an increase of 11%.

What About the Fed?

The Federal Reserve Bank will be meeting later this week to discuss a reduction in the baseline interest rate. Because financial indicators are showing a weakening economic environment, most pundits expect the Fed to approve a drop of .25-.5% from the overnight rate. Most lending institutions have already reduced rates in anticipation of a change. If approved, lenders will hold mortgage interest rates at about where they are positioned today. If not, fixed rates will go back up to about 7%.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by Pedro Lastra on Unsplash

Andy & Renee and Hard Rain

Andy & Renee-The Lighthouse
TUESDAYS @ 5:30PM — 7:30PM
The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254
310 376-9833

Andy & Renee-Banana Leaf
THU, SEP 12 & 26@ 6:30PM — 9:00PM
Banana Leaf & Beach Cities Social,
1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee-House Concert -Agoura Hills, CA
MON, SEP 16 @ 7:00PM — 10:00PM
Home of Steve Berman & Sandy Lessner,
4032 Defender Dr., Agoura Hills, CA 91301
Doors-6p, Music 7-10p.
$20 donation requested. Get tickets at https://andyandrenee.com/tickets-tips-merch.
BYOB

Andy & Renee-Belle Epoque
THU, SEP 19 @ 7:00PM — 9:00PM
Belle Epoque,
265 Avenida Del Norte, Redondo Beach, CA 90277
310-316-4302

Andy & Renee-Terranea Lobby Bar
FRI, SEP 20@ 7:00PM — 11:00PM
Terranea Lobby Bar,
100 Terranea Way, Rancho Palos Verdes, CA 90275

Andy & Renee & Hard Rain-Day Of Peace Celebration with Jane Goodall
SAT, SEP 21 @ 10:00AM — 4:00PM
Point Fermin Park, 807 Paseo Del Mar, San Pedro, CA

Celebrating United Nations International Day of Peace & Jane Goodall’s 90th Birthday. Eco Festival, Food Trucks, Parade of Giant Peace Dove Puppets. Band plays 11am-1:30pm, plus a bit afterwards. Bring your beach chair, water bottles & blankets. For parking & Free Shuttle info, go to peacedayla.org.

Andy & Renee & Hard Rain-The Lighthouse
SUN, OCT 27 & DEC 29th @ 2:00PM — 5:00PM
The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254
310 376-9833

Andy & Renee & Hard Rain-New Year’s Eve Party
TUE, DEC 31 @ 8:00PM
The Grand Annex,
434 W. 6th St., San Pedro, CA 90731
Get tickets and info at https://grandvision.org/event/andy-renee-hard-rain-new-years-party/

Jodi Siegel’s Songwriter Showcase for September

This is a once a month (every third Tuesday) show that is designed as a listening room for world class songwriters, many with hit songs, long touring/recording associations with music legends ETC… to play their original music in an intimate setting. NO COVER BUT DONATIONS ARE STRONGLY ENCOURED AND GO TO THE SONGWRITERS. Project Barley serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. This month we are proud to present: THE MOJO MONKEYS AND JODI SIEGEL

THE MOJO MONKEYS

Mojo Monkeys is the labor of love of three veteran Los Angeles musicians: Singer/Drummer David Raven, Bassist Taras Prodaniuk and guitarist Billy Watts. Individually, they’ve logged time in the studio or onstage with such notable artists as: Lucinda Williams Keith Richards, Norah Jones, Dwight Yoakam, Bruce Springsteen, Bonnie Raitt, June Carter Cash, Mike Ness, Steve Jones of the Sex Pistols, Dixie Chicks, Geoff Muldaur, John Trudell, Richard Thompson, Jim Lauderdale, Peter Himmelman, Buck Owens, T-Bone Burnett and many, many more. They are the first call A-list session players in Los Angeles, play in multiple local and touring bands and are all at the top of their game! These guys have made multiple records that combine their swampy bluesy rockin’ music with smart lyrics, killer singing and playing…they draw from many sources but sound like no other!

PROJECT BARLEY serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. https://projectbarley.com/ 2308 Pacific Coast Hwy, Lomita, CA 90717  

Live at the Grand Annex In September

A 150-seat cabaret venue run by Grand Vision in the heart of San Pedro’s thriving arts district. Enjoy state-of-the-art sound enhancing a unique listening experience, complemented by a commitment to community. Many wonderful restaurants are nearby and beverages are available throughout the show.

T Sisters
& Wine Tasting🍷

Sat, Sep 21, 2024
8:00 PM
Doors 7:00 PM
Tickets

Twins Rachel and Chloe Tietjen and their older sister Erika offer up potent lyricism and catchy melodies from stunning a cappella harmonies to pop to groovy indie folk.

The sisters’ contemporary yet classic sound invites comparisons to modern family bands like the Avett Brothers and First Aid Kit. With their soaring sibling harmonies, sassy stage presence and inventive songwriting, these three sisters bring a soulful take on folk/Americana music.

In 2019, T Sisters participated in American Musicians Abroad, a selective State Department-sponsored program fostering diplomacy through music. The sisters performed and conducted workshops in the Middle East and North Africa emphasizing girls empowerment and the role of music in creating social awareness and change.

Rachel (vox, guitar, banjo), Chloe (vox, percussion) and Erika (vox, guitar) are all songwriters in their own right and switch off on lead vocals. While their voices blend seamlessly, each has a distinct singing and writing style that results in an eclectic repertoire unified by a landscape of close harmonies.

🍷Pre-Concert Wine Tasting
Taste fine wines. Wine Tastings are led by professional sommelier, Jean-Philippe Molinari.

Pre-Concert Wine Tastings are free to Grand Vision members at the Friend, Champion, VIP Circle, Arts Advocate, and Performing Arts Patron level – up to two per household, $16 per person for all others. Concert tickets are required to participate. Members’ tasting tickets must be redeemed in advance. Tastings begin one hour before the show, please arrive no later than 30 minutes into the tasting to participate.

Deja Vu The Music of Crosby, Stills, Nash & Young

Sun, Sep 22, 2024
4:00 PM
Doors 3:00 PM
Tickets

Ray Koukal assumes the role of David Crosby, Steve Elowe takes on the role of Stephen Stills, Jim Wootten steps into the shoes of Graham Nash, and Devitt Feeley embodies the spirit and musicianship of Neil Young.

Together, their dedication to capturing the essence of these rock icons’ sound and performance makes Deja Vu an unmissable experience for fans of this legendary group.

Transport yourself on a nostalgic journey through faithful renditions of CSNY’s iconic hits, including “Teach Your Children,” “Helpless,” “Suite: Judy Blue Eyes,” “Love the One You’re With” and more.

Sean Lane & the Hellhounds

Sat, Sep 28, 2024
8:00 PM
Doors 7:00 PM
Tickets

Delta blues, hill country and driving rock ‘n roll from local master slide guitarist and his power quartet.

Sean Lane is a singer-songwriter who plays solo-acoustic Delta style blues and also fronts a four-piece electric combo. Sean Lane & Hellhounds are a dynamic blues band that aren’t afraid to blend in a little rock. Their sound has been described as “blues on steroids.”

Sean started The Hellhounds as a Delta blues slide guitarist and vocalist, writing original songs in the style of the old Mississippi masters and blending it with the intensity of Blues-Rock. With Sean on lead guitar, Jon Poli on drums, Doug Swanson on bass and Jed Ojeda on rhythm guitar, they are a true Blues-Rock powerhouse. Based out of Los Angeles with roots in the South, The Hellhounds are all about blending old tradition with modern innovation to create. Their music is beyond standard Chicago blues here; it’s raw, powerful, and distinctive.

J2B2 (John Jorgenson Bluegrass Band)
& Wine Tasting🍷

Fri, Oct 04, 2024
8:00 PM
Doors 7:00 PM
Tickets

The John Jorgenson Bluegrass Band (J2B2) showcases impeccable musicianship, incomparable songwriting, incredible harmony vocals and seasoned showmanship. The band combines the “high lonesome sound” of bluegrass with elements of West Coast folk rock and Americana.

https://youtube.com/watch?v=6gb8n0riHCo%3Fsi%3Dm2XX7dJElCnr9QsX

John Jorgenson (acoustic guitar/mandolin/vocals) first came to national attention in the mid ‘80s with successful country-rock act The Desert Rose Band, which he co-founded alongside Chris Hillman and fellow J2B2 member Herb Pedersen. In 2008, Jorgenson won a Grammy for Best Country Instrumental with Brad Paisley and was nominated for Best Bluegrass Album with Earl Scruggs. He has also worked as Elton John’s guitarist and alongside Bonnie Raitt and Bob Dylan.

John Jorgenson returns to the Grand Annex, this time switching his guitar out for a mandolin and bringing his all-star bluegrass supergroup featuring legendary, award-winning musicians: Herb Pedersen, Mark Fain and Patrick Sauber.

Herb Pedersen (banjo/acoustic guitar/vocals) has been a member of over five bands, including The Desert Rose Band, during his sixty-year music career. He has worked on countless film and TV scores, and collaborated with music legends such as Earl Scruggs, Emmylou Harris and Linda Ronstadt.

Mark Fain (bass) is a seven-time Grammy winner who has produced for many artists across the jazz, country, bluegrass and gospel genres; he has also toured and recorded with the Chicks, Alan Jackson, John Fogerty and Dolly Parton.

Patrick Sauber (acoustic guitar/vocals) has toured with Peter Rowan and Laurie Lewis, and appeared on screen in the mockumentary musical “The Mighty Wind.”

🍷Pre-Concert Wine Tasting
Taste fine wines. Wine Tastings are led by professional sommelier, Jean-Philippe Molinari.

Pre-Concert Wine Tastings are free to Grand Vision members at the Friend, Champion, VIP Circle, Arts Advocate, and Performing Arts Patron level – up to two per household, $16 per person for all others. Concert tickets are required to participate. Members’ tasting tickets must be redeemed in advance. Tastings begin one hour before the show, please arrive no later than 30 minutes into the tasting to participate.

Peace Frog The Music of the Doors & Jim Morrison

Sat, Oct 05, 2024
8:00 PM
Doors 7:00 PM
Tickets

https://youtube.com/watch?v=4urLvrMLMJ8%3Fsi%3DUZaElfW4z2wvy9FI

Based out of Venice, California, this highly acclaimed act recreates the magic, intensity, and rock theater of Jim Morrison and The Doors. Mystical and hypnotic, the band transforms any room into an actual Doors concert experience. Lead singer Tony Fernandez lives out every move of Jim Morrison on stage and delivers a powerful recreation of true likeness in his presence, vocals, and spirit.

The four-piece band also includes James Sinigalliono on keyboard and bass, Tyler Thigpen on guitar and Tom Gold on drums. Hear intoxicating renditions of “Hello, I Love You,” “Light My Fire,” “L.A. Woman,” “The End” and many more Doors classics.

Coming Up At The Grand Annex

A 150-seat cabaret venue run by Grand Vision in the heart of San Pedro’s thriving arts district. Enjoy state-of-the-art sound enhancing a unique listening experience, complemented by a commitment to community. Many wonderful restaurants are nearby and beverages are available throughout the show.

Greenwich Village Coffeehouse
Andy & Renee and Guests

Saturday, September 7, 8 PM
TICKETS

Classic rock and folk hits of NYC’s Greenwich Village. Hear the music of
Bob Dylan, Joan Baez, Pete Seeger and more. With guests Marty Rifkin,
Joel Raphael, Dave Crossland and James Lee Stanley.

Mustangs of the West

Friday, September 13, 8 PM
TICKETS

Trailblazing all-women quintet delivers sparkling, powerful and irresistible Country-Americana!

David Robert Pollock
Variety Hour

Saturday, September 14, 8 PM
TICKETS

Singer-songwriter David Robert Pollock hosts talent from LA’s indie music scene – reminiscent of a ’70s variety series like “The Dean Martin Show” – but with a thrilling, dark comedy twist.

T Sisters and Girl Power

Saturday, September 21, 8 PM
🍷Pre-Concert Wine Tasting 7 PM
TICKETS

With soaring sibling harmonies and their signature sassy stage presence, these sisters sing a combo of Americana, folk and country.

Deja Vu
A Musical Retrospective of CSNY

Sunday, September 22, 4 PM
TICKETS

Immerse yourself in first-class folk-rock with faithful renditions of Crosby, Stills, Nash & Young’s “Teach Your Children,” “Helpless,” “Suite Judy Blue Eyes,” “Love the One You’re With” and more.

Jodi Siegel – Songwriter Showcase

7-9PM, Tuesday, August 20, 2024
Project Barley Brewery
2308 Pacific Coast Hwy, Lomita, CA 90717  

THIS MONTH’S AUGUST SONGWRITER SHOW IS GONNA BE EPIC! MY BUDDIES FROM MASON SOUTH (PHIL PARLAPIANO, DOUG HAMBLIN, LYNN COULTER) WILL BE MAKING A RARE LOS ANGELES  APPEARANCE AND I FOR ONE AM SO EXCITED TO HEAR THEM AND YOU WILL BE TOO! ALSO APPEARING FOR THE FIRST TIME IS THE WONDERFUL PI JACOBS. THIS IS HER FIRST TIME COMING DOWN AND YOU’RE GONNA LOVE HER! -Jodi

Mason South

MASON SOUTH is an Americana, blues, roots trio; Phil Parlapiano, Doug Hamblin and Lynn Coulter. All three have been sidemen to some of the industry’s most legendary and respected musicians like; Albert King, John Prine, Rod Stewart, Dixie Chicks and many more. LA’s Mason South began ‘as a sideman’s side project’ in the early 2000s and continues today in trio format.

Louisiana-born percussionist/vocalist Lynn Coulter brings his unique swampy feel and soulful vocals. He has been a constant presence on the LA music club and session scene. Lynn has performed/recorded with Rita Coolidge, Carole King, Paul Butterfield and Smokey Robinson and many others.

LA native Phil Parlapiano is a true multi-instrumentalist—organ, piano, mandolin, guitar, accordion and pretty much anything else that’s left lying around the studio. He is a first call session player and recently ventured into acting as well! Phil has toured and recorded with John Prine, Carlene Carter, Lucinda Williams, Iris DeMent…the list is very long

Bay Area born guitarist Doug Hamblin has played everything from new wave power pop (Jo Allen and The Shapes) to folk and rock. His debut album of original blues on the indie label Blueprint Records reached Billboards’ Top Ten and earned him a Blues Artist of the Year BAMMY nomination. Since relocating to LA in the 90s Doug has performed/recorded with artists as diverse as Dr John, Southside Johnny Lyon, Steve Miller Band, Johnny Rivers and Stephen Stills.

Together these three gifted performers move thru a deep catalog of their own original songs that span a wide variety of styles they like to call a “100% American Blend—Rock, Soul, Country, Blues.

Pi Jacobs

Pi Jacobs draws inspiration from her unconventional upbringing in “The Land of Weed and Wine” aka Northern California. Blending roots-rock swagger and storytelling soul, her music has drawn comparisons to Tom Waits, Dolly Parton, and Lucinda Williams. She has been heard on NPR, DittyTV, Austin Music TV, Americana Highways, American Songwriter Magazine, and regularly on tastemakers KCSN, WFUV and stations across the nation. 

Jodi Siegel

Jodi Siegel, originally from Chicago, IL, is a singer, songwriter and guitarist. Over the years Jodi has opened for and or shared the stage with many respected musicians including: Albert King, Robben Ford, Robert Cray, J.D. Souther, David Lindley, Fred Tacket and Paul Barrere (Little Feat) and countless others. Her songs have been recorded by Maria Muldaur, Marcia Ball, Tommy Ridgley and Teresa James.

She has recorded two CD’S; Stepping Stone and her latest CD, “Wild Hearts,” produced by Steve Postell (Immediate Family, David Crosby, Eric Johnson, Robben Ford, Iain Matthews), is filled with great songs, cool grooves, intimate, smart lyrics and some of the best of the best musicians in Los Angeles today including; Mike Finnigan (organ, piano), Hutch Hutchinson, Abe Laborial Sr., Alphonso Johnson (bass), Russ Kunkel, Michael Jerome Moore, John Ferraro, Arno Lucas (drums, percussion), Joe Sublett (Saxophone) and Maxayne Lewis and Clydene Jackson (background vocals). Each song has a soulful delivery with an undeniable down-home elegance. It has received great reviews by Patrick Simmons (Doobie Brothers), Maria Muldaur, Walter Trout, David Mansfield (T Bone Burnett), Leland Sklar, Mike Finnigan and Doug Macleod to name a few.

PROJECT BARLEY serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table.

South Bay Real Estate Bonanza

July brought a bonanza—of sorts—to real estate in the Los Angeles South Bay. Sales volume, which had been falling below last year for three of the last four months jumped up 20%. Granted, July was an unusually slow month in 2023, compared to most years including 2024.

Month over month showed a comparable increase. Total sales volume was up 6% from June to July. The only negative for monthly sales was in the Harbor area where activity was off by 8%.

More importantly, year to date through July, sales volume was up 1% across the South Bay compared to the same period in 2023. With over half the year past already, some growth is a positive sign. This close to November on a presidential election year, one would expect the market to be looking better than it has been.

In fact, The number of homes being sold has still not recovered from the pandemic. Sales this July were 22% fewer than they were in July of 2019! As discussed previously, because the mortgage interest rates were temporarily at rock bottom, about 40% of the homeowners in California currently are “trapped in a mortgage they can’t afford to leave.” This promises to maintain downward pressure on home sales for the better part of a decade. Paradoxically, the reduced inventory is contributing to rising prices.

More homes were being sold in July, and they were being sold for greater prices. Annual increases in the median price were up 15% in entry level neighborhoods. At the Beach and on the Hill median prices didn’t reach quite as high, but were still more than 10% above July of 2023.

Monthly pricing showed the contrast between high end and entry level homes more clearly. In the Beach area the median dropped 3% from June, while on the Peninsula, there was no change in the median price. In contrast, the Harbor and Inland areas rose 6% and 5% respectively over June numbers.

Comparing the first seven months of this year to last year shows inflation continues to plague the real estate economy. Median prices rose in a range between 6% and 9% in the South Bay during the period.

Beach: Highest YTD Sales Volume Increase

Sales in the Beach cities jumped from 90 homes in June to 118 in July for a massive 31% monthly increase. This was matched by a 30% annual increase over July of 2023. Month to month statistics, as well as same month last year comparisons have shown tremendous variability this year.

The rapid fire changes precipitated by the pandemic, and subsequently by the Federal Reserve in an effort to keep the economy under control, created wild swings in the number of homes sold. At the same time the shifts in median price were less frequent and considerably less wide-ranging.

Today, looking at the year to date summaries for both, sales volume and median price, the numbers have moderated greatly. Sales volume at the Beach measured against last year has ranged from negative 27% to positive 33%. That huge range smoothed out to 6% growth in the year to date view.

Likewise, the median price, which has been a bouncing ball, declined 3% from June and increased by 11% over July of last year. Comparing the year to date from 2023 to 2024, the median settled in with a 6% increase for the longer term perspective.

Harbor: Highest YTD Median Price Growth

Monthly sales volume in the Harbor area fell 8% to a total of 316 homes sold in July compared to 342 sold in June. Annual sales moved the opposite direction, rising 17% from July of 2023 to July this year. For the first seven months of 2024 sales have fallen 1% compared to the same period last year.

Median prices had fallen 6% in June and have reclaimed that loss with a 6% growth in July. The new median, $848,500, is a 15% improvement over July of 2023. Year to date the median price is up by 9% in the Harbor area over the same seven month period in 2023.

Interestingly, every month this year has been a growth month for the year over year median price at the Harbor. The lowest increase has been 4% in March and again in June. The highest has been 18% in both February and May.

Hill: Highest Median Price In South Bay

Monthly data for the PV Peninsula came in with 73 homes sold for a 22% increase in volume over June. Annually, sales showed a 46% increase over July of 2023, a welcome change from the 24% drop in June vs June numbers. Year to date sales posted a 4% increase in volume over the same seven months in 2023.

PV registered a 12% annual increase in median price to $2,015,000 in July, so far the highest median in the South Bay for 2024. It doesn’t quite reach the $2,300,000 of May, 2023, but is one of the more impressive months in recent years. The monthly increase from June was negligible, but the timing in 2023 coincided with a downward shift in median sales prices. So, the change shows up as a 8% increase in the year to date median.

Inland: Median Price Hits $1,000,000 First Time

Sales volume for the Inland area jumped in July—up 15% month to month for a total of 142 homes sold, and up 9% since July of last year. Being past the halfway point of the year boosts the value of the the year to date statistics which come in at a mere 2% through July.

At the same time, the July median sales price for the Inland cities climbed 15% above July 2023 and hit $1,000,000 for the first time! Last year’s number was pretty run-of-the-mill so lends some import to this year’s improvement. The 2024 year to date median price calculation supports the strength shown by the monthly and annual numbers with a solid 7% increase over 2023.

Why Use Median?

A brief comment on median price and why it’s often used in real estate: Averages are used for a great many things in making comparisons, and for things that change frequently, averages do a great job. Medians, on the other hand, minimize the ‘jerky’ nature of averages and show directional movement better than a lot of up and down action.

A median is exactly the middle of a group of numbers, so that half are higher and half are lower. So the impact of a single outlier number shows less distortion on the longer term trend line of the values. In other words, it’s easier to see what your investment will likely be worth in 10 years.

Most of us don’t buy houses often enough to care about movement over the last 30 days. We’re interested in staying put for 10 years, plus or minus. The median trend will show us the most likely path.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo catalina_from_wayfarers_chapel.jpg by Carl Clark

Next at the Grand Annex

MUSTANGS OF THE WEST

Friday, September 13 / 8 PM

Trailblazing all-women quintet deliver sparkling, powerful and irresistible Country-Americana!

TICKETS

DAVID ROBERT POLLOCK

Variety Hour

Saturday, September 14 / 8 PM

Modern folk singer-songwriter David Robert Pollock (formerly DCR Pollock) returns to the Annex to premiere his new, “David Robert Pollock Variety Hour,” featuring guest appearances by talent from across the LA music scene.

TICKETS

DEJA VU

A Musical Retrospective of CSNY

Sunday, September 22 / 4 PM

Immerse yourself in classic ’70s folk-rock with faithful renditions from the songbook of Crosby, Stills, Nash & Young – hear “Teach Your Children,” “Helpless,” “Suite Judy Blue Eyes,” “Love the One You’re With” and more.

TICKETS

John Jorgenson Bluegrass Band

Friday, October 4 / 8 PM

John Jorgenson returns, this time switching his guitar out for a mandolin and bringing his all-star bluegrass supergroup featuring legendary, award-winning musicians: Herb Pedersen, Mark Fain and Patrick Sauber.

TICKETS

Andy & Renee Live & On Tour

Andy & Renee-The Lighthouse

TUESDAYS THRU AUG 1, then resuming SEP 3@ 5:30PM — 7:30PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254

Andy & Renee-Banana Leaf

THURSDAYS, July 11, 18, AUG 1 @ 6:30PM — 9:00PM Banana Leaf & Beach Cities Social, 1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee Livestream #234

Friday, June 12th, 6pm PDT.

Watch live or anytime at Watch live or anytime at https://youtube.com/live/5F9HlkoQwJg?feature=share. Come watch the show in person at our studio! 17411 Delia Ave., Torrance, CA 90504. LIMITED SEATING, so RSVP now to reneesafier@hotmail.com. Please arrive no earlier than 5:45p. Show will start at 6pm. For the online viewer, the Livestream shows are free to watch, but the option to contribute is there for those who are in a position to do so. You can see our song list to make requests and contribute at https://andyandrenee.com/tickets-tips-merch, PayPal (paypal.me/andyandrenee) or Venmo, (www.venmo.com/Renee-Safier). A portion of the proceeds will go to the Los Angeles Midnight Mission. We are sustained by the generosity and support of the fans who love the music, and who donate as they are able. If you use funds from your bank vs. your credit card, we aren’t charged a service fee, but either way, we appreciate your support!

Andy & Renee-House Concert Hosted by Diane Stahl and Steve Reinhardt-Denver, CO

Saturday, August 3rd – 5-9 pm

Home Of Diane Stahl & Steve Reinhardt, 870 South Clarkson, Denver, CO 80209

Doors 5pm — Concert 6pm Diane Stahl & Steve Reinhardt 870 South Clarkson Denver 80209 Seating is limited to 50 – Reserve your seats now! You don’t want to miss this fabulous musical experience! $20 requested for musicians. Drinks provided. Please bring your favorite dish to share. Get tickets at https://andyandrenee.com/tickets-tips-merch (scroll down to house concert)

Andy & Renee-House Concert, Priest Lake, ID

SAT, AUG 10 @ 5:00PM Home of The Songstad’s, 632 Hagman Road, Nordman ID 83848

Hosted by the Foley/Lyman/Songstad’s. Details TBA

Andy & Renee-The Hill’s Resort, Priest Lake, ID

WED, AUG 14 @ 6:00PM The Hills Resort, 4777 W LAKESHORE RD., PRIEST LAKE, IDAHO 83856

Andy & Renee-Moose Knuckle- Coolin, ID

FRI, AUG 16 @ 6:00PM Moose Knuckle, 10 Cavanaugh Bay Road, Coolin, ID 83821

Andy & Renee-House Concert/Livestream-Portland, OR

MON, Aug. 26th Doors 6:30, Show 7pm PDT. Co-hosted by Bob Boyle and Larry & Janet. 15555 SE Riverforest Dr., Oak Grove, OR 97267. $20 requested for musicians.

Andy & Renee-The Station House, Auburn, CA

FRI & SAT, AUG 30 & 31 @ 7:00PM — 10:00PM Station Public House, 750 Lincoln Way St.100, Auburn, CA 95603

Pro Songwriters’ Showcase – July

PROJECT BARLEY BREWERY, 2308 Pacific Coast Hwy, , Lomita CA 90717
Tue, Jul 16 @ 7:00PM — 9:00PM

This is a once a month (every third Tuesday) show that is designed as a listening room for world class songwriters, many with hit songs, long touring/recording associations with music legends ETC… to play their original music in an intimate setting. NO COVER BUT DONATIONS ARE STRONGLY ENCOURED AND GO TO THE SONGWRITERS. Project Barley serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. This month we are proud to present: RICK SHEA, TONY GILKYSON, BRIAN WHELAN

RICK SHEA

Longtime Southern California singer-songwriter Rick Shea got his early musical education in the bars and honky-tonks of San Bernardino where he grew up. With ten critically acclaimed albums, he’s performed all over Southern California, the West Coast, the US and in Europe, and built a solid career for himself as a solo artist, singer, guitarist and songwriter. Shea’s songs reflect the folk, country, rock and Mexican influences he grew up with. “Songs tell our stories and our history and songs were how those stories were shared in the past, I like to continue that tradition.”

60 miles east of Los Angeles where the urban sprawl starts to thin out and the desert starts to take over sits the old railroad town of San Bernardino. Shea says, “Growing up there were a dozen or more honky-tonks and truck stop bars on the outskirts. They were kind tough places but as a sideman and singer I could work 6 – 7 nights a week. That’s where I first heard a lot of those old songs – Merle Haggard, Lefty Frizzell and Buck Owens – every night.”

Shea’s recently released album Love & Desperation has gained a lot of praise as have his earlier albums. He is a deeply evocative singer and a formidable guitarist who doubles on steel guitar and mandolin. On his songwriting influences Shea says, “When I was younger Merle Haggard cast a long shadow, but since then Dave Alvin, Jim Ringer and a lot of other music has found its way in.”

If your tastes run toward hard working, literate, back 40 folkies like Tom Russell, Chuck Pyle, Jimmie Dale Gilmore and others like that, Shea is sure to be another that you’re going to dig. With a very personal edge to his writing and singing, this is classic folkie/troubadour stuff that cuts right to the chase and delivers moves that others can only turn into clichés. Check it out, it’s the real deal. – Chris Spector MIDWEST RECORD

A hauntingly nostalgic vocalist, imperative guitarist and literate, detail-rich songwriter, do yourself a favor. – Gary von Tersch, Sing Out

TONY GILKYSON

Born in Hollywood and raised in an environment of musicians, songwriter–guitarist Tony Gilkyson originally started recording as a boy with his father, Terry Gilkyson, a composer for Walt Disney and a prominent folksinger/songwriter in his own right. Artists he has played and recorded with include Lone Justice, John Coinman, Jake LaBotz, Ray Wiley Hubbard, Bob Neuwirth, Sam Phillips, Duke McVinnie, Jimmie Dale Gilmore, Peter Rowan, Larry Hosford, Rick Shea, Dave Alvin, Kip Boardman, Alice Cooper, Bob Dylan, Kris Kristofferson, K.D. Lang, Mark Olsen, Shane MacGowan, Ramsey Midwood, Mike Stinson, The Spoolies, Randy Weeks and Kathleen Wilhoite. He has produced recordings for sister Eliza Gilkyson and Dances with Wolves author and poet Michael Blake. With Tom Waits, he co-produced Chuck E. Weiss’s albums Extremely Cool and Old Souls & Wolf Tickets. In 2003 he produced the acclaimed Country for True Lovers by Eleni Mandell. He also has played guitar on numerous film sound tracks including the Johnny Cash biopic Walk the Line, as well as The Big Lebowski, Don’t Come Knockin’ and All the King’ s Men, with producer T Bone Burnett.

BRIAN WHELAN

There’s nothing wrong with Americana. ​Brian Whelan’s refrain on the opening track of ​Sugarland ​immediately lets you know what the singer, songwriter, producer, sideman, and all-around utility savant is all about. The song is cheeky, fast, and pulls no punches. There’s plenty of façade in Whelan’s Los Angeles, but that’s not what he’s here for. He’s here for the tunes.

If you’re a frequenter of the Cinema Bar in Culver City, no doubt you know the name Brian Whelan. As a young musician with half a boot still in USC’s music program, Whelan found the bar, found his people, and found his scene. Further down the line, you’ve come across him shredding GOE Sundays at The Echo in Echo Park, singing originals that gets the packed room dancing as much as the covers he slays.

But the name was really made playing with country, rock, and Americana stars, such as Houston’s own Mike Stinson, Nashville roots godfather Jim Lauderdale, and Los Angeles rocker Chris Shiflett. Whelan put his unmistakable mark on the national scene as the prolific sideman behind urban cowboy Dwight Yoakam, playing guitar, keys, pedal steel, and anything else that was required or requested. From budding fan to established keystone, Whelan is now at the center of that Los Angeles Americana scene he discovered years ago.

Perhaps the most interesting quality in Whelan is the one not hidden, but bleeding through every second of the 33-minute ​Sugarland​: earnestness. It’s a trait Los Angeles is bereft of; a town that wrings the optimism out of every heartland kid with an eye on the screen or a guitar in the trunk of that car that carried them west. The driving guitar riffs, the soaring vocals, and the love-fueled lyrics that define Whelan’s solo songwriting endeavors aren’t contrived; they don’t come from a flavor of the week proclamation on pitchfork or the current Coachella lineup. Brian Whelan can do a lot of things, but there are two things he won’t do – boring and bullshit.

JODI SIEGEL

Jodi Siegel, originally from Chicago, IL, is a singer, songwriter and guitarist. Over the years Jodi has opened for and or shared the stage with many respected musicians including: Albert King, Robben Ford, Robert Cray, J.D. Souther, David Lindley, Fred Tacket and Paul Barrere (Little Feat) and countless others. Her songs have been recorded by Maria Muldaur, Marcia Ball, Tommy Ridgley and Teresa James.

She has recorded two CD’S; Stepping Stone and her latest CD, “Wild Hearts,” produced by Steve Postell (Immediate Family, David Crosby, Eric Johnson, Robben Ford, Iain Matthews), is filled with great songs, cool grooves, intimate, smart lyrics and some of the best of the best musicians in Los Angeles today including; Mike Finnigan (organ, piano), Hutch Hutchinson, Abe Laborial Sr., Alphonso Johnson (bass), Russ Kunkel, Michael Jerome Moore, John Ferraro, Arno Lucas (drums, percussion), Joe Sublett (Saxophone) and Maxayne Lewis and Clydene Jackson (background vocals). Each song has a soulful delivery with an undeniable down-home elegance. It has received great reviews by Patrick Simmons (Doobie Brothers), Maria Muldaur, Walter Trout, David Mansfield (T Bone Burnett), Leland Sklar, Mike Finnigan and Doug Macleod to name a few.

South Bay Housing Prices Up, Sales Down

Median prices for real estate around the Los Angeles South Bay have risen over 40% since 2019, the year before the corona-virus pandemic. Comparing the median prices and sales activity for the first half of 2024 shows increases approaching 50% for the five year period in all areas across the South Bay.

Over the same time period, sales volume has plummeted by 22%, falling from 4,022 in 2019 to 3,149 in 2024. The Beach cities have been particularly hard hit with a 34% drop in the number of homes sold during the first six months of the year.

Looking at 2024 versus 2023 shows a similar pattern with median prices up nearly 10% from the first half of last year. The Beach area showed the lowest increases, coming in at 5% above the 2023 median.

Sales volume was off by 2% across the area with the only positive being the Beach at a mere 1% above 2023 numbers. As the 2024 year has progressed, the number of sales has declined in total. Simultaneously, more and more parts of the South Bay have fallen into negative growth.

As of the end of June, 2024 sales figures for all areas were negative in comparison to June of 2023. While the number of homes sold has consistently declined through the first half of the year, median prices have been equally persistent at increasing over last year. Most experts are attributing the increasing prices and decreasing sales to the shift from an ultra-low mortgage interest rate during the pandemic, to a comparatively high rate currently.

When rates were at the lowest, many homeowners took advantage of the opportunity to refinance at the incredible rates. Those folks are now in a position where they would incur a painful increase in monthly living costs if they were to move. That has resulted in about a 40% reduction in the number of homes typically available on the Multiple Listing Services (MLSs).

At the same time, the increased mortgage interest rates have pushed a significant number of potential sellers out of the market because they no longer qualify for the loan they would need to trade up to a larger or newer home. That reduced the available inventory of resale homes even further and became another contributing factor to the bidding wars among the few buyers still in the market.

Beach: Down 18% in Sales May to June

Monthly sales volume fell from 110 units in May to 90 homes in June, for an 18% drop. Median price jumped 10% in one month to end at $1,917,500.

Year over year, the number of homes sold declined from 124 in June of last year to 90 this year for a loss of 27%. Median price for the Beach climbed 11% over the year.

Year to date for the first half of 2024 versus the first six months of 2023 shows a modest increase of 1% in sales volume along with a increase of 5% in median price.

Harbor: June Median Price Off by 6%

The Harbor area was the outlier for June. While month over month sales collapsed and pricing jumped for the other three areas, Harbor sales of 342 homes boosted sales by 19%, coming in well above the 288 homes sold in May. Meanwhile, median price went the other direction, dropping from $848K in May to $799,900 in June, for a decline of 6%.

Year over year statistics went the opposite direction, following the rest of the South Bay. Sales volume fell by 3%, dropping from 124 in 2023 to 90 in June of this year. Meanwhile the median price was up 4% for the year, rising from $772,000 last June to nearly $800,000 this year.

The first six months of 2024 brought a year to date sales drop of 4%. The median price in the same period climbed 9%.

Short term changes, as from month to month, have been unpredictable since the pandemic. Looking at the longer term, there is consistency in the declining sales volume and increasing median price. With 2024 a presidential election year, it will be interesting to see how long this direction holds.

Hill: Year Over Year Sales Fell 24%

With a reputation for wildly shifting statistics, the Palos Verdes Peninsula came in with relatively modest decline of 9% from May sales. Similarly, the increase in median price was very tempered at only 3%.

The sales volume for same month last year was anything but mild. June of 2023 reported 79 homes sold versus 60 homes in June of 2024. That’s a 24% drop in volume from last year. While a fourth of the 2023 sales disappeared, the median price eked out a 1% increase, going from $2,000,000 last June to $2,912,500 in June of 2024.

In what is becoming a familiar trend, the year to date sales volume is down 2%, and the median price for the first six months of the year is up 7%.

Inland: June 2024 Sales Drop 24% From 2023

The Inland area showed the smallest month to month change of the South Bay. The 4% drop in sales volume from 128 homes sold in May to 123 in June was minor. Likewise the 1% increase in median price from $945,000 to $955,000.

Like the Hill, the Inland area had a radical drop in sales from June of 2023 to June of 2024. Falling from 161 homes sold last June to 123 sold this June resulted in a 24% drop in transactions. Median price in the same period rose 9%, from $875,000 to $955,000.

Interestingly, there has been no statistically significant change in the sales volume for the first six months of the 2023 and 2024 years. It actually increased by three units from 669 homes sold in 2023 to 672 homes sold in the first half of 2024. For the same time periods, the median price climbed by 6%.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo Montemalaga Sunset by Carl Clark