Can the real estate market in the Golden Hills Support this price?

By Keith Kyle1637 Armour Lane

**Update** The home was recently reduced from $1,050,000 to $999,000 but is still active and for sale.

We recently sold the home at 1637 Armour in the Golden Hills of Redondo Beach for what, at the time, was a very big number of $885,000.  We had 9 offers and the demand was pretty unbelievable.  It was a fairly rare situation in the Golden Hills as it was a smaller house at 1048 sq feet but it was all a single level and had a 4,100 foot lot.  The typical lot in the Golden Hills is 2500 so this is a unique piece of property.  The home sold in May of 2016 and is now back on the market for an unheard of $1,050,000 just months later.  To our knowledge there were no upgrades done since they purchased.

Will the market possibly bear this price?

Only time will tell.

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DRE# 01712785