Is $2,000,000+ the New Normal for High End Homes in the Hollywood Riviera?

By Keith Kyle

It wasn’t long ago that most homes for sale in the Hollywood Riviera were priced around $1,000,000 with only the truly spectacular reaching towards the $2.0M mark.  Those days have past with $2,000,000+ being the new normal for big views and the abundance of high end flips in the area.  As of 2/8/17 there are 5 homes in the Hollywood Riviera priced over $2,000,000 and most are well over that formerly elusive price point.

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Multiple Homes for Sale on Camino De Encanto in the Hollywood Riviera

By Keith Kyle

It’s not often that we see homes come on the market in the lower Hollywood Riviera neighborhood that’s west of Palos Verdes Blvd.  Occassionally we see a home or two and more often than not, there is nothing on the market in this area.  What makes this part of the Hollywood Riviera so great is that it’s walking distance to Torrance Beach and not far from the downtown shopping and dining area of Riviera Village.

That certainly couldn’t be further from the case at the moment as there are 4 homes for sale on Camino De Encanto in the Hollywood Riviera.

There are current 4 homes on the market and all are within a 1/2 block.  This is pretty unheard of an probably not ideal for any of the homes as when buyers have options….they want to negotiate.  Contact us for more information or visit our Hollywood Riviera homes for sale page to view all of the current lisitngs.

Riviera Village Holiday Stroll in Redondo Beach

If you are looking for a great way to kick off the holidays in Redondo Beach the Riviera Village holiday stroll may be just the ticket.  Enjoy a great community asmosphere, carolers, sleigh rides, tasty treat, Santa of course, and even some snow.

The annual Holiday Stroll kicks off at 5 p.m. A parade featuring marching bands from local schools and that jolly guy in the red suit, Santa Claus, at the corner of Catalina Avenue and Avenue I. With over 300 fashionable boutiques offering a wide variety of unique gift ideas, Riviera Village is the destination of choice for discerning shoppers. The Village takes on a cheerful holiday atmosphere with lights, decorations and festive music for your enjoyment as you stroll along the avenues admiring the festooned store fronts.

 

If oceanfront is what you’re looking for…..

By Keith Kyle 501 Paseo De La Playa Hollywood Riviera

I’ve been fortunate to represent a few clients on purchases or sales along Paseo De La Playa in the Hollywood Riviera and the locations is nothing short of spectacular.  Paseo De La Playa is the oceanfront street that connects Redondo Beach with the beginning of the Palos Verdes Peninsula and offers a lifestyle not found in many places.

The recent listing of 501 Paseo De La Playa is no exception.  This 5 bedroom, 3 1/2 bath home sits high on the bluff and offers mesmerizing views of the ocean, Palos Verdes and the beautiful coastline from Redondo to Malibu.

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Holidays in Redondo – Riviera Village Holiday Stroll 2015

One of the great aspects of life in the South Bay is the sense of community the beach cities offer.  One of the best Hollywood-Riviera-Holiday-Strolltimes of the year to enjoy that community is the holiday season with each city having numerous events and festivities.  On December 3rd from 5-9pm is the always fun and cheerful Riviera Village holiday stroll.

Riviera Village is already a charming shopping and  dining area that is
pedestrian friendly with a variety of places to choose from.  For the holiday stroll, Catalina Avenue is shut down to car traffic and turned into a pedestrian only 2013-12-18 18.25.22festival, making it a safe and fun way to start the holidays.

The Holiday Parade down Catalina Ave. steps off at 6 pm and features local bands, scout troops, dance groups, and some Redondo Beach dignitaries.

Riviera Village offers a wonderful holiday atmosphere with carolers and music, twinkling lights, horse drawn carriage, decorations and in years past has even seen a bit of snow!

Catalina Avenue will be closed to traffic from Avenue I to Elena Avenue from 5 to 9 p.m. to facilitate the happy shoppers.

 

Increased inventory slowing the market for high end Hollywood Riviera homes

By Keith Kyle340_Via_Colusa_master1 copy

A noticeable increase in number of homes for sale at $1,500,000 and above has seemed to put the brakes on a very hot real estate market in the Hollywood Riviera.  The buying public had been clamoring for more homes on the market and now that they’ve arrived, it seems they’re not selling.  The $1,100,000-$1,400,000 price point is still extremely active, but the increased inventory of high end homes has definitely slowed the market.  Certain homes such as the recent listing at 225 Via Alameda which sold with multiple offers right from the start, are the exception at the moment and not the rule.  It’s not uncommon to see these higher price point homes sitting on the market for months which is a distinct difference from some other high end areas in the South Bay.  The chart below shows the number of active, pending and sold homes by month for homes priced over $1,500,000 and clearly indicates almost double the number of homes for sale while pending and sold listings are down.

Hollywood-Riviera-Luxury-Homes

 

Current Hollywood Riviera homes priced over $1,500,000

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Big Gains In May 2015 Median Home Prices in the South Bay

By Keith Kyle

May was another huge month in terms of home prices in the South Bay with Hermosa Beach highest on the wow factor with a median price in May of $,1450,00, almost 32% higher than the year before.  Redondo Beach saw major gains as well with 106 homes selling in May with a median home price of over $844,000

City Homes Sold May 2015 Median May 2014 Median Year over Year % Change
Carson 45 $410,000 $376,500 8.9%
El Segundo 14 $803,500 $818,000 -0.8%
Gardena 35 $405,000 $400,000 1.3%
Harbor City 26 $415,000 $382,000 8.6%
Hawthorne 68 $525,00 $487,000 7.9%
Hermosa Beach 23 $1,450,000 $1,102,000 31.6%
Lawndale 12 $431,000 $417,500 3.2%
Lomita 11 $509,000 $575,000 3.5%
Long Beach 362 $433,000 $399,000 8.5%
Manhattan Beach 38 $2,238,750 $2,005,000 11.7%
Marina Del Rey 26 $917,000 $900,000 1.9%
Palos Verdes Estates 37 $1,515,000 $1,430,000 5.9%
Playa Del Rey 24 $615,000 $711,000 -135%
Rancho Palos Verdes 56 $1,100,000 $990,000 11.1%
Redondo Beach 106 $844,500 $722,000 17%
San Pedro 67 $449,250 $425,000 5.7%
Torrance 148 $579,000 $560,000 3.4%
 Westchester 26 $900,000 $797,000 12.9%

Village Palos Verdes – Oceanview Townhomes in the Hollywood Riviera

By Keith KyleVillage Palos Verdes

One of the more affordable ways of finding an ocean view home in the Hollywood Riviera is the largest complex in the area known as Village Palos Verdes.  Located just east of Palos Verdes Blvd and west of Calle Mayor, the complex is just a short walk to Torrance Beach and the charming shopping area of Riviera Village.  There are 180 units in the complex and due to combination of the staggered layout and the hillside location, many/most of the townhomes have some type of ocean views.  In general the units facing Palos Verdes Blvd have the best views, but they also deal with overlooking a fairly busy street.  Village-Palos-Verdes-MapUnits are either 2 or 3 bedrooms usualy with 3 baths and priced ranged in 2014-early 2015 between the mid to high $600,000s up to just under $800,000 for the larger homes with better views.   Each unit has a two car garage.  The complex had long been problematic in that the siding for all buildings had needed replacing for a very long time and the spector of a pending special assessment kept many buyers away.  The work has since been done and the complex looks fresh and appealing.  HOA fees are generally in the mid $400s but vary somewhat depending on the unit.  The complex offers two pools and is a short walk to the Village-Palos-Verdes-Viewsbeach, and has an abundance of shopping and dining nearby.  It’s an ideal location.

Contact us for more information on the current homes for sale in Village Palos Verdes.

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And then there were 4 – New Listings on the Ocean Front Street of Paseo De La Playa

In this market with very low inventory and many homes selling the minute that they hit the market, it’s very unusual to see 4 homes for sale on the most sought after street in the Hollywood Riviera.QN-wide

The 4 homes for sale sit on the oceanfront street of Paseo De La Playa, just above Torrance Beach.  Many residents know the street as it offers great views and is a favorite of cyclists heading up to Palos Verdes.  2 of the homes, the palatial gated estate located at 433 Paseo De La Playa, and 617 Paseo De La Playa are on the west side of the street meaning unblocked and unblockable views of the ocean, Palos Verdes, and the coastline all the way to Malibu.  The primary reason they are still available is the pricetag with the sellers asking $16,000,000 for the home at 433 and the the home at 617 listed for $4,495,000 which is considerably higher than the most recent sales of similar homes.

The remaining 2 homes are fairly new to the market as of January 6th.  Both sit on the east side of the street so they offer minimal coastline views but are still ideally located with a short walk or bike ride to the beach and the Riviera Village.  The home at 630 Paseo De La Playa is a rather pricey $1,888,888 for 1325 square feet and minimal views.  It’s market as a potential site for a 2 story dream home but as the home is in the Torrance hillside overlay area that might be a very tall task.  The home for sale at 528 Paseo De La Playa is a bit more appropriately priced with almost 1800 square feet.

 

It’s Holiday Time in the Hollywood Riviera

There’s no place like home for the holidays and if you live in the South Bay there are plenty of activities and places to enjoy the holidays.Hollywood Riviera Holidays

 

Riviera Village Holiday Stroll is Thursday, Dec. 4, 5 to 9 pm

Start your holiday celebrating in Riviera Village at the annual Holiday Stroll on Thursday, December 4, from 5 to 9 pm.  This wonderful collection of upscale shops will stay open late that night, offering fabulous finds and delectable treats to all.  The Holiday Parade down Catalina Ave. steps off at 6 pm and features local bands, Scout troops, dance groups, Redondo Beach mayor Steve Aspel and Councilman Jeff Ginsburg.

Stroll with friends under twinkling lights amid holiday cheer.  Take a horse-drawn carriage ride past the beautifully decorated shop windows as you’re surrounded by the sounds of the season.  Listen to local bands playing on Ave. I following the Parade.  It’s a great night to meet up with friends, start your shopping, and get some holiday cheer on.