Hard to believe but eight months of Redondo Beach Real Estate sales are in the books for 2018 and as we head into the final months of the year, what is the market telling us and what do you need to know if you are a Buyer, Seller, or Investor?
January - August 2018 Redondo Beach Sales
Through the first 8 months of 2018 there have been 577 closed escrows in Redondo Beach with 263 in South Redondo and 90277 and 314 in North Redondo Beach 90278. The year over year comparison to the same time period in prior years is:
- 2015 Total Sales 658 South 289 North 369
- 2016 Total Sales 635 South 309 North 326
- 2017 Total Sales 628 South 272 North 356
So the trend line for overall sales is definitely down and you may very well have read elsewhere that this trend is true throughout CA and in other parts of the US as well. The lack of inventory is what is fueling the price increases - some of which have been quite dramatic of the same period.
The current median price of sold properties in Redondo Beach for 2018 is $1,150,000 compared to $851,500 in 2015, $941,5000 in 2016 and $1,025,000 last year. So at a minimum add at least a few hundred thousand dollars to what most Redondo Beach homes would have sold for just a few years ago.
This year, 2018, so far the median price in South Redondo Beach is $1,240,000 and North Redondo is $1,050,000.
Let's take a deeper dive into numbers looking at Sales by MLS Area, property type and the new construction trends.
Redondo Beach August 2018 Sales by MLS Area
The Multiple Listing Service (MLS) used by Realtors divides Redondo Beach into 4 distinct MLS Area with 4 in 90277 and the same in 90278. Here's how the sales came in for each over during August
- MLS AREA 151 (North of Artesia Blvd) 15
- MLS AREA 152 (South of Artesia Blvd - East of Aviation) 18
- MLS AREA 153 El Nido 4
- MLS AREA 154 Golden Hills 14
- MLS AREA 155 (North of Torrance Blvd, East of PCH) 12
- MLS AREA 156 (South of Torrance Blvd, East of PCH) 12
- MLS AREA 157 (West of PCH) 12
- MLS AREA 128 Hollywood Riviera 4
(Please note - 2 sales were mistakenly reported in the incorrect MLS Area by out of area agents so you might see some different numbers elsewhere.)
Out of 91 total sales in August, 40 were on South Redondo Beach and 51 in North.
Both numbers are stronger than the prior 7 month run rate. So what does that mean?
As we go through the inevitable market changes a lot of the data we see may be "confounding". In this case the recent stronger August sales comparable to the prior months are simply a function of more listings hitting the market due to the awareness that we might be at a current market high.
REDONDO BEACH IS A "SELLER'S MARKET"
During August there were 16 SFRs sold in South Redondo and 25 in North Redondo. South Redondo prices ranged from $1,059,000 up to $3,400,000 and North from $775,000 to $1,950,000. Let's take a look at a few properties.
1027 Avenue A Redondo Beach CA 90277 MLS PV18176001
"This striking, sophisticated contemporary home stands out as an instant architectural classic. Ascend the dramatic staircase to the upper level which features a gourmet kitchen that opens to an incredible living room, with stacking sliding glass doors to take advantage of the spectacular views. Retreat to the master-suite with luxurious bathroom, walk-in closet and a birds eye view of the backyard. The dramatic entry level includes two bedroom suites, and a family room with stacking sliders that lead to a beautiful backyard with pool, spa and incredible guest house, home office, music studio or…? Built in 2017, this 3-level home features an oversized garage and game room at street level. Wired for Smart Home technology and a security system, some of the additional features include air-conditioning, LED lighting throughout, and much more."
4 bedrooms, 5 baths, 4359 Sq Ft on a 6569 Sq Ft lot. Built in 2017.
Listed for $2,499,000 and sold for $2,367,750.
718 Amy Lane Redondo Beach CA 90278 MLS SB18152050
"This luxurious Cape Cod home is located on magical Amy Lane, a private, low traffic, one way street. There is nothing like it in the South Bay! This Practically Perfect Family Home features everything you would want in a home: loads of natural light, 5 Bedrooms, 4 1/2 baths, 3,455 sq ft of living space, 3 car garage, 5,005 sq. ft. lot with grassy back yard, Chef's Kitchen, Formal Dining Room, Formal Living Room, and 2 Family Rooms! The Downstairs Family Room features a coffered ceiling, built-in shelving, and a stone fireplace. The Upstairs Family Room is perfect for kid's play time, media room or office. The huge Master Suite features a fireplace, his/her walk-in closets, fabulous Master Bath features jacuzzi tub and separate shower, his/her sinks. There is an ensuite bedroom on the downstairs level, perfect for guests or a nanny. This beautiful home is in Turn-Key Condition with new carpeting and paint, plantation shutters, ceiling fans, hardwood floors. Outstanding price for a home of this caliber, especially one located on quiet, family friendly Amy Lane, where homes are rarely for sale."
Listed for $1,699,950 and sold for $1,760,000 after 11 days on market.
1306 S Helberta Ave Redondo Beach CA 90277 MLS PV18145597
"Remodeled to perfection. Picture perfect and ready for you to move right in! This beautiful home has 5 bedrooms including office, 2 remodeled baths, and approximately 2,000 square feet of living space – all on a 6,410 square foot lot - plus it is just a short walk to Tulita elementary school, the beach, and the Hollywood Riviera shopping and restaurants. Grab this home before it is gone! There are refurbished hardwood floors, newer windows, open center island kitchen with top of the line appliances, granite counter tops and glass tile back splash and lovely wood deck – perfect for casual conversation and those great summer barbecues! Feel totally safe with not just your alarm system - but alarmed screens so you can leave the windows open for those wonderful ocean breezes! Enjoy your own fresh fruit from your own lemon, orange, mandarin and pomegranate trees."
1916 Sq Ft, 5 bedrooms, 2 baths, 6032 Sq Ft lot. Listed for $1,495,000. Sold for $1,527,000.
609 Calle De Arboles Redondo Beach CA 90277 MLS 18163820
"Welcome to this gorgeous Coastal Plantation style home in the upper Hollywood Riviera. Built in 2017, this spacious 5 bedroom, 5.5 bath home is open, bright and airy with 3680 square feet of stunning living space. The entry and living room with vaulted ceilings, lead to a lovely dining room with 9’6” ceilings. The Great Room and Gourmet Chef's Kitchen with Thermador 6 burner range, spacious center island with White Calcutta Vicenza premium quartz counter-tops, and walk in pantry is the heart of this home and is perfect for family and entertaining. Babylon Gray premium quartz is featured in the bathrooms and around the fireplaces. The second level vaulted ceilings add to the open feeling of this home. The oversized master suite includes a deluxe walk-in closet and luxurious master bath. The upstairs den leads to a large deck that overlooks the lush and beautifully landscaped back yard. There are 3 additional bedrooms on this level all with ensuite baths. Other features include engineered 8-inch white oak flooring, Milgard casement windows and coffered ceilings. This magnificent home which is situated in a prime location of the Riviera includes large front and back porch areas and is directly across the street from the peaceful Palos Verdes walking trail. The beach, shops and restaurants are just a short walk away. This unique property exemplifies Southern California living at its finest."
5 bedrooms, 5.5 baths, built in 2017. 3,680 Sq Ft on a 6875 Sq Ft lot.
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