South Redondo homes

Hollywood Riviera Home Prices On the Rise

The Hollywood Riviera real estate market has taken off in the past few weeks with a median list price of over $1.5M which is a fairly unbelievable number for an area with a median sales price of just over $1.0M for the past 4 months.  Included in these sold homes was the ocean front home at 623 Paseo De La Playa which sold for $2.625M and without that very unique sale, median prices would have been considerably lower.  What accounts for this incredible increase?

According to Redondo Beach specialist, Keith Kyle, it is a combination of a number of factors.  “The market has clearly changed in the past few months with inventory dropping and prices rising.  In addition the homes currently on the market just happen to be more upgraded and larger as sellers with luxury homes in the Hollywood Riviera have decided it is great time to list their homes.  One last factor is the dramatic reduction in the number of distressed sales.  As of a year ago distressed sales made up a sizable portion of the listings and are almost non-existent these days.”  Click here to view the most recent home sales in the Hollywood Riviera.

Current Hollywood Riviera Homes for Sale

Keith Kyle realtor for sale sign

Want to Know Why You Can’t Find a South Bay Home?

If you’re like many South Bay home buyers, you’re probably experiencing theKeith Kyle realtor for sale sign frustration that so many others are….there are no homes to buy.  With this incredibly low inventory the few homes that do come on the market don’t last more than a few days and often sell for prices that would have been a major challenge just a few months ago.  It might be temporary, but back are the days of multiple offers, conditions favorable to the sellers, offers over the list price and a number of cash buyers to compete with.  Inventory just keeps going down with fewer and fewer available homes to by.  If it’s hard to picture just what’s happening the chart below couldn’t be clearer.  The light green bar shows the number of active homes for sale in the cities of El Segundo, Gardena, Harbor City, Hawthorne, Hermosa Beach, Lawndale, Lomita, Manhattan Beach, Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, San Pedro, Torrance.  The teal columns show sold homes and the red bar shows the pending home sales.

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Vista Sotheby's International

Vista Sotheby’s International Realty is one of the top real estate brokerages in the South Bay and Southern California with offices in Redondo Beach and throughout the South Bay

ADDRESS:

1801 S Catalina Ave, Redondo Beach, CA 90277

Phone:

310.251.2344

E-mail:

keith.kyle@vistasir.com

CONTACT AGENT

DRE#01712785

keith kyle

Top Producing Realtor

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Sotheby's International

Welcome to Sotheby's International Realty representing buyers and sellers of fine South Bay and Southern California properties

Redondo Beach Real Estate & Homes. All rights reserved. Information deemed reliable but not guaranteed

Keith Kyle – Licensed Realtor – Vista Sothebys International Realty – DRE#01712785

The listing information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us), we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and cannot be verified by Sotheby’s International Realty Affiliates LLC. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. Sotheby’s International Realty ® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission.