April Sales Come in "Light"
April 2017 sales are in the books and South Redondo Beach homes moved at a snail's pace with only 24 homes closing escrow. By comparison elsewhere in the Beach Cities there were 43 in North Redondo Beach 90278, a very strong 48 in Manhattan Beach, and 18 in Hermosa Beach which was also a good showing for 90254.
Year to date South Redondo has seen 101 closings through the end of April compared to last year's 124 in the same time frame. So are we seeing a softening of the market in South Redondo? Let's take a deeper dive.
Currently there are 70 active listings and 50 listings in escrow. Based on the closed sales calculation that would give us almost 3 months of available inventory and using the under contract calculation there is 2 months of inventory. Still a "Seller's Market" but just barely.
- Here's some broad stats:
- Average Sales Price $1,191,00
- Median Sales Price $1,245,000
- Average Days on Market 27
- Properties Selling Over Asking Price 13
- Single Family Residences 10
- Condos 5
- Townhomes 9
- New Construction 5
Please note, "Townhomes" are legally condominiums, we're talking about property style above.
Here's some sales that caught my eye.
Most Expensive April Sale
703 Avenue A, Redondo Beach 90277
"Spectacular brand new high quality construction. 4 beds upstairs plus downstairs room with no closet, perfect for office or den. Has attached bathroom. Hands on craftsman builder from the "old days" mentality of hands on attention to detail. A fusion of plantation style blended with new tech features such as wifi Sonos music system throughout controlled by a mobile app on your cell phone! Zoned A/C and forced air heating powered by 2 condensers and FAU's. Located on a sought after corner lot of Ave A and Sapphire in prime South Redondo with ocean views, lush landscaping in front and rear yards, plus covered rear patio with built in bbq. The ground floor has a gourmet kitchen, with Wolf double oven and stove top, Sub-zero refrigerator with newly designed internal water dispenser. Gorgeous stone counter tops, custom wood cabinetry with soft close drawers, and a quiet running dishwasher. Adjacent breakfast nook and family room with LED lighting, engineered oak floors, and loads on natural light streaming through. Large formal dining and living room with remote control fireplace. Upstairs has large master suite with roomy walk in closet, sumptuous master bath with free standing tub. Library/home office right outside of MB. All secondary bedrooms have their own bath including the downstairs room that can serve as an overnight guest room. Roof top deck with covered mezzanine with stunning ocean and city views. Walk to the beach, Riviera Village, and great Redondo schools."
MLS 17038656. Listed and sold for $2,850,000.
Least Expensive April Sale
Brookside Village has seen a lot of activity this year and while prices have gone up for sure, this community is still the best value in the Beach Cities for entry level home ownership.
The lowest priced sale was so low, a real outlier below $400K that we'll look at the 2 lowest.
603 S Prospect Av # 206, Redondo Beach 90277
"Incredible opportunity to own in the highly desirable Brookside Village community! This spacious one bedroom, one bathroom condo is light, bright and ready for you to move in. You’ll be amazed at how massive the living room is when you walk through the front door. There is plenty of space for your dining room table and living room furniture in this wide-open room. The kitchen is open to the living room, ideal for entertaining friends and family. Sliding glass doors will lead you to your own very private deck. You aren’t looking into your neighbors’ windows in this condo. This unit is located on the second floor, with easy access to parking – no stairs! This complex has amazing amenities including a gym, clubhouse, pools, Jacuzzis, tennis courts and so much more. Located in prime Redondo Beach."
Listed for $359,000 (really) and sold for $387,500 which may very well be the last sub $400K sale we see in Redondo Beach. MLS SB17046333.
15 S Prospect Av # 105, Redondo Beach 90277
"Designer Perfect! You'll love this spacious (1086 sq. Ft) two bedroom in Brookside Village. It has a convenient location near the Clubhouse and easy access to its two parking spaces. Updated, with an open floor plan, stone flooring (in entry, dining and kitchen), stone countertops in kitchen, and rich wall to wall carpeting in the living room and bedrooms. Go out on the deck with your morning coffee, and listen to the bubbling fountain."
Listed for $539,000 and sold for $545,000 which is about the going rate right now for these properties.
Most Interesting Sale
304 N Gertruda Ave, Redondo Beach 90277
"Completely Rebuilt 1907 Craftsman home in Fantastic South Redondo Location. Every square inch of this property has been thoroughly upgraded while maintaining the original classic charm. First quality craftsmanship and finishes throughout. Must see to appreciate the quality and taste in which the home was restored. Beautifully open floor plan allows for wonderful communication and natural light throughout the home. The garage has been converted into a "man cave" with finished drywall, built in cabinetry, and electrical; the possibilities are endless! Just a short walk to the Esplanade and The Redondo Beach Pier. Property is located in the Historical District of South Redondo Beach, and may qualify for the Mills Act."
Listed for $1,189,000 and sold in 6 days, presumably with multiple offers for $1.2M. I really liked this one and not surprise others did too!