The Rising Values of 1 Bedroom Ocean View Condos in The Village

The one bedroom Village condos in Redondo Beach are a great indicator of the South Redondo real estate market over time as the units are all the same size and configuration. The

The Village

ocean views make a big difference as well as the floor it’s on, but in general the units are pretty similar. Therefore the changes in values year over year make for a good indication of the direction the market is heading.  See below for information on the sales so far in 2018 and how they compare with 2017 and 2016.  It indicates while prices are still high the market is softening with a smaller increase in values from 2017 as well as a longer average days on market.

2018

As of September 10th,  2018 has seen 5 one bedroom condos sold at a median price of $630,000 and an average price of $628,000.  That averaged out to around $1,015 a square foot for the year.  Another important number was the average days on market for 2017 which was 35.

  Address Price $/Sqft
650 The Village #211  $                  600,000 969
610 The Village #311  $                  645,000 1042
610 The Village #315  $                  630,000 1018
620 The Village #108  $                  610,000 985
650 The Village #108  $                  655,000 1058

2017

In 2017 8 one bedroom condos sold at a median price of $615,000 and an average price of $621,000.  That averaged out to around $993 a square foot for the year.  Another important number was the average days on market for 2017 which was 19.

Address  Price  $/Sqft
650 The Village #214  $                  590,000 953
630 The Village #311  $                  615,000 994
620 The Village #107  $                  615,000 994
660 The Village #108  $                  594,000 960
630 The Village #211  $                  635,000 1026
610 The Village #311  $                  670,000 1082
650 The Village #212  $                  650,000 1050
630 The Village #210  $                  599,000 968

2016

In 2016 10 one bedroom condos sold at a median price of $552,550 and an average price of $557,800.  That averaged out to around $900 a square foot for the year.  Another important number was the average days on market for 2016 which was 29.

Address  Price  $/Sqft
650
The Village #210  $                  545,000 880
630
The Village #207  $                  550,000 889
660
The Village #309  $                  600,500 970
650
The Village #104  $                  520,000 840
640
The Village #312  $                  590,000 953
630
The Village #109  $                  520,000 840
660
The Village #310  $                  570,000 921
620
The Village #206  $                  545,000 880
630
The Village #204  $                  555,000 897
630
The Village #115  $                  582,500 941

In Perspective – Historical 30 Year Fixed Mortgage Rates

Many buyers are concerned with interest rates rising and that’s certainly valid as a higher interest rate means a higher monthly payment which most often means that you can’t afford a home you might have only months earlier.  Taken in historical standpoint the current rates are dramatically lower than at just about any other time.  The chart below shows the interest rate on conventional and conforming 30 year fixed rate mortgages.  As we’ll see we’ve basically seen rates drop consistently since the high water mark of 16.3% in 1981.  It certainly makes todays current rate in the mid 4% range seem pretty enticing.

July’s Highest and Lowest Home Sale Prices in Redondo Beach

July 2018 was a solid month for home sales in Redondo Beach CA with 74 closed sales and a median list price of $1,133,000 and a median

sales price of $1,126,000.

The highest price sale of the month was $2,462,000 for a beautifully remodeled craftsman home at 421 Calle De Aragon in the Hollywood Riviera.  The home offered 3,000+ square feet, 5 bedrooms, 4 bathrooms, a very nice sized yard and great city and ocean views.  The home was listed by Pamela Soladar of Palm Realty.

To view all the homes sold in July 2018 in Redondo Beach see our article on July 2018 Redondo Beach home sales.

 

The lowest price sale of the month was priced at $600,000 for a one bedroom condo near the beach in South Redondo at 1400 S Catalina #205.  The condo offered 1 bedroom, 1 bath and 786 square feet.  Originally listed for $614,500 the home was on the market for 51 days.  The listing agent was Ross Moore of Remax Estate Properties

Click here to see the current homes for sale in Redondo Beach CA

74 Home Sales in Redondo Beach CA for July 2018

By Keith Kyle

July 2018 was a solid month in Redondo Beach real estate.  There were  74 closed home sales and a median list price of $1,133,000 and a median sales price of $1,126,000.  Below are all of the homes sold on the market for the month including type, size, number of beds and baths, square feet and year built.    To see the home sales in other South Bay cities click here.

To see the current active homes for sale visit the Redondo Beach MLS search.

MLS # Typ   Address  Price   $ per Ft  Bed/Bath Sq Foot Year
PV18100056 CONDO/A 163 Paseo De La Concha
#3
 $738,000  $ 653.68
2/2,0,0,0 1129/P 1960/ASR
SB18092441 SFR/D 111 Via Sego  $ 1,268,900
 $  696.43
3/2,0,0,0 1822/A 1954/ASR
SB18112788 SFR/D 404 Via Linda Vista  $ 1,379,000
 $  894.29
3/1,1,0,0 1542/A 1954/ASR
SB18125317 SFR/D 409 Calle Mayor  $ 2,175,000
 $ 743.08
3/2,0,1,0 2927/A 2001/ASR
PV18097140 SFR/D 421 Calle De Aragon  $ 2,462,000
 $  799.61
5/4,0,0,0 3079/SV 2017/BLD
SB18131650 CONDO/A 2120 Dufour AV #26  $710,000  $      519.01
3/2,0,0,0 1368/A 1975/ASR
DW18069732 TWNHS/A 2401 Inglewood AV  $755,000  $      430.44
4/1,2,0,0 1754/A 1987/ASR
SB18147799 TWNHS/A 2617 Mathews AV #3  $800,000  $      519.82
3/2,0,1,0 1539/A 1988/ASR
SB18124331 TWNHS/A 2610 Ruhland AV #3  $820,000  $568.65
2/1,1,1,0 1442/A 1982/ASR
SB18146559 SFR/D 2203 Graham AV  $835,000  $883.60
2/1,0,0,0 945/A 1947/ASR
SB18063179 DPLX/D 1506 Phelan LN  $860,000  $551.28
4/2,0,0,0 1560/A 1955/ASR
SB18126047 CONDO/A 2113 Mathews #B  $930,000  $512.40
3/2,0,1,0 1815/T 2000/EST
18353598 CONDO 1933 RUHLAND AV #A  $1,005,000
 $      368.40
4/3,0,0,0 2728/ 1987
SB18086373 TWNHS/A 1919 Curtis AV #A  $1,070,000
 $      433.90
4/2,0,1,0 2466/AP 1988/ASR
SB18127295 TWNHS/A 1932 Graham AV #A  $1,160,888
 $      476.56
4/2,0,1,0 2436/A 1990/ASR
PV18135252 SFR/D 2004 Nelson AV  $ 1,201,000
 $      534.73
4/3,0,0,0 2246/A 1947/ASR
SB18132380 TWNHS/D 2111 Curtis AV #A  $1,307,777
 $      563.70
4/2,1,0,0 2320/A 2009/ASR
SB18127117 TWNHS/D 1930 Graham AV #B  $1,346,000
 $      527.43
4/2,1,1,0 2552/A 1996/ASR
SB18162402 TWNHS/D 2206 Warfield AV #B  $1,490,000
 $      558.68
4/3,0,1,0 2667/B 2018/BLD
PV18096021 TWNHS/D 2207 Gates AV #A  $1,490,000
 $      559.73
4/3,0,1,0 2662/B 2018/BLD
SB18166221 TWNHS/D 2206 WARFIELD AV #A  $1,500,000
 $      562.43
4/3,0,1,0 2667/B 2018/BLD
SB18118275 TWNHS/A 1920 Carnegie LN #2  $825,000  $      590.13
3/1,1,1,0 1398/A 1987/ASR
PW18140732 TWNHS/A 2112 Vanderbilt LN #E  $833,000  $      566.28
2/2,0,1,0 1471/A 1984/ASR
SB18125768 TWNHS/A 2409 Vanderbilt LN #6  $850,000  $      477.53
3/2,0,1,0 1780/A 1985/ASR
SB18106260 TWNHS/A 1921 Grant AV #B  $930,000  $      537.57
4/3,0,0,0 1730/A 2012/ASR
SB18150337 TWNHS/A 2619 Carnegie LN #C  $990,000  $      546.06
3/2,0,1,0 1813/AP 2006/ASR
SB18152895 TWNHS/A 2009 Speyer LN #B  $1,025,000
 $      520.30
3/3,0,0,0 1970/A 1984/PUB
SB18100166 TWNHS/D 2220 Clark LN #B  $1,025,000
 $      479.64
3/3,0,0,0 2137/A 1986/ASR
SB18101609 TWNHS/A 2410 Grant AV #C  $1,185,000
 $      488.66
4/4,0,0,0 2425/D 2018/BLD
SB18144314 TWNHS/A 1913 Spreckels LN #A  $1,230,000
 $      490.04
4/2,0,1,0 2510/B 1990/ASR
SB18080863 TWNHS/D 2313 Clark LN #A  $1,290,000
 $      542.93
4/3,0,1,0 2376/AP 2015/BLD
OC18117094 TWNHS/D 1806 Speyer LN #B  $ 1,350,000
 $      584.42
4/4,0,0,0 2310/A 2014/ASR
SB18033028 TWNHS/A 2309 Clark LN #A  $1,360,000
 $      590.79
4/3,0,1,0 2302/B 2018/BLD
SB18033633 TWNHS/A 2309 Clark LN #B  $1,378,000
 $      594.73
4/2,1,1,0 2317/B 2018/BLD
SB18079012 TWNHS/A 2213 Speyer LN #A  $ 1,390,000
 $      546.38
4/3,0,1,0 2544/B 2018/BLD
SB18086074 TWNHS/A 2213 Speyer LN #B  $1,425,000
 $      560.14
4/3,0,1,0 2544/B 2018/BLD
SB18134687 SFR/D 2602 Fisk LN  $920,000  $      821.43
3/1,0,0,0 1120/A 1953/ASR
SB18095659 SFR/D 500 Green LN  $965,000  $      424.18
4/2,0,0,0 2275/AP 1955/ASR
SB18034662 SFR/D 1101 High LN  $990,000  $      614.53
3/3,0,0,0 1611/A 1955/ASR
PW18131280 TWNHS/A 1006 Palm LN  $733,000  $      649.82
2/2,0,0,0 1128/A 1977/ASR
SB18128290 TWNHS/A 1400 Stanford AV  $775,000  $      665.24
2/2,0,0,0 1165/A 1977/ASR
OC18100828 SFR/D 1751 Wollacott ST  $1,090,000
 $      498.86
3/2,0,1,0 2185/A 1985/ASR
SB18101344 SFR/D 1518 Steinhart AV  $1,181,000
 $      569.98
3/2,0,0,1 2072/A 1988/ASR
PV18147749 SFR/D 1510 Steinhart AV  $1,210,000
 $      644.99
3/2,0,1,0 1876/A 1989/ASR
PV18038087 SFR/D 1741 Armour LN  $1,400,000
 $      633.48
3/4,0,1,0 2210/B 2018/BLD
SB18095824 TWNHS/A 222 S Irena AV #Q  $750,000  $      554.73
2/2,0,1,0 1352/A 1979/ASR
SB18128269 TWNHS/A 106 S Lucia AV #1  $875,000  $      641.03
2/2,0,1,0 1365/A 1983/ASR
PV18117287 TWNHS/D 118 S Prospect AV #A  $925,000  $      450.34
4/3,0,0,0 2054/A 1990/ASR
SB18064432 TWNHS/A 620 El Redondo AV #2  $ 1,095,000
 $      438.35
3/2,0,1,0 2498/A 1987/ASR
SB18099904 TWNHS/A 712 Beryl ST  $ 1,157,000
 $      427.25
4/2,1,0,0 2708/S 1990/ASR
SB18133597 TWNHS/A 812 N Irena AV #B  $ 1,195,000
 $  549.17
3/2,0,1,0 2176/B 2008/ASR
SB18079908 TWNHS/D 224 N Irena AV #B  $1,230,000
 $      589.65
3/2,0,1,0 2086/A 1989/ASR
18338384 TWNHS 713 N JUANITA AV #B  $1,330,000
 $      599.37
3/3,0,0,0 2219/A 2009
SB18068766 TWNHS/D 121 S Guadalupe AV S #B  $ 1,350,000
 $      619.27
4/3,0,0,0 2180/A 2013/ASR
PV18092066 TWNHS/D 239 N Irena AV #A  $1,480,000
 $      621.85
4/3,0,1,0 2380/A 2014/ASR
SB18113990 TWNHS/D 205 S Helberta AV #2  $1,500,000
 $      567.32
4/3,0,0,0 2644/A 2000/ASR
PV18076986 TWNHS/A 406 Avenue G #19  $780,000  $ 538.30
3/2,0,1,0 1449/A 1987/ASR
SB18102668 TWNHS/D 1800 S Pacific Coast #45  $934,000  $ 575.83
3/2,0,1,0 1622/A 2002/ASR
PV18134395 TWNHS/D 1800 S Pacific Coast HY #77  $959,000  $ 522.33
4/2,1,0,0 1836/A 2002/ASR
SB18117380 SFR/D 1228 S Prospect AV  $1,030,000
 $ 866.27
3/3,0,0,0 1189/E 1952/ASR
SB18134269 SFR/D 1026 Palos Verdes BL  $1,050,000
 $ 883.10
3/0,2,0,0 1189/A 1953/ASR
SB18067111 SFR/D 420 Camino Real  $1,190,000
 $ 726.94
4/2,0,0,0 1637/AP 1963/PUB
SB18116160 SFR/D 853 Avenue C  $1,650,000
 $ 653.72
4/2,1,0,0 2524/A 1952/SLR
PV18073113 TWNHS/D 313 S Lucia AV #B  $1,650,000
 $ 640.78
4/4,0,1,0 2575/B 2018/BLD
SB18141606 SFR/D 511 S Lucia AV  $2,199,000
 $ 539.10
5/3,0,1,0 4079/A 2002/PUB
SB18100340 CONDO/A 1400  Catalina AV #205  $600,000  $ 763.36
1/1,0,0,0 786/A 1971/ASR
SB18076008 CONDO/A 240 The Village #210  $680,000  $     796.25
1/1,0,0,0 854/A 1978/ASR
SB18071774 CONDO/A 230 S Catalina AV #202  $709,000  $     518.65
2/1,1,0,0 1367/A 1974/ASR
SB18134596 CONDO/A 130 The Village #207  $900,000  $      677.71
2/2,0,0,0 1328/A 1980/ASR
SB18127217 CONDO/D 428 Esplanade #201  $995,000  $    639.05
3/2,0,0,0 1557/A 1975/ASR
SB18139902 CONDO/A 727 Esplanade #304  $ 1,200,000
 $    944.88
2/2,0,0,0 1270/A 1974/ASR
SB18133149 CONDO/A 230 S Catalina AV #408  $ 1,250,000
 $     738.77
3/1,1,0,0 1692/A 1974/ASR
SB18140289 TWNHS/A 1206  Catalina AV #A  $1,445,000
 $     746.77
3/2,0,1,0 1935/A 1999/ASR
SB18128871 TWNHS/D 306 S Broadway #B  $ 1,499,000
 $    609.35
4/2,0,1,0 2460/A 2005/ASR

Are Contingent Offers Starting to Be a Workable Strategy?

By Keith Kyle

In the past two months I’ve had three contingent offers accepted.  Not only were the offers accepted but my clients homes were not even on the market yet.  I spent much of 2017 submitting contingent offers for these clients only to be rejected time and time again.  Often times we were competing against 15-20 other offers and some were all cash….we didn’t have a chance.

So is that changing?

It may just be timing, luck or the right situation, but sellers seem to be considering contingent offers in the current Redondo Beach real estate market.  It’s key to submit a VERY strong offer in regards to price and terms, but sellers may be realizing that the buyer’s homes will likely sell fairly quickly.

For those that don’t know what a contingent offer is…..there are many situations in which a home buyer needs to sell their home to have enough money for the down payment and to qualify for the loan.  When you submit an offer that requires the buyer to sell their home to make it work…that’s a contingent offer.  It adds a whole additional level of uncertainty to the sellers of the home being purchased.  No longer is their just a home inspection, appraisal and loan on their house……but likely a home inspection, appraisal, and loan on the buyers sale as well.  The uncertainty is the reason most sellers won’t consider it unless it’s the only option.

In a sellers market with multiple offers and high demand, getting a contingent offer accepted is a long shot at best, but maybe the recent wave of acceptances is a sign that things are changing slightly.

Redondo Beach Real Estate in September – By the Numbers

Just like the rest of the Beach Cities, the Redondo Beach real estate market is on fire.  August saw 113 home sales.  Here’s a quick recap of the Redondo market based on todays date of 9/19/17:

Active Listings

  • Current active homes for sale: 111
  • Average list price:  $1,887,000 (which is very skewed due to a $25M listing, $16M listing and $13M listing)
  • Median price of homes for sale:  $1,199,000
  • Average list price without $25.0M, $16.0M and $13.0M listings:  $1,440,000
  • Average days on market:  63
  • Highest price:  $25,000,000
  • Lowest price:  $469,000

Pending Sales

  • Number of pending home sales:  103
  • Average list price:  $1,169,000
  • Median list price $1,049,000
  • Highest price: $4,999,000
  • Lowest price:  $464,000

Closed Sales (past 30 days)

  • 104 closed sales
  • Average list price:  $1,188,000
  • Average sales price:  $1,179,000
  • Median list price: $1,089,000
  • Median sales price: $1,073,000
  • Highest sale: $3,250,000
  • Lowest sale: $437,000

 

Redondo Beach Nears $1,000,000 for July Median Home Prices

July was a crazy month throughout the South Bay with double digit year over year percentage changes in most of the cities. There was no real rhyme or reason to it with some cities way up and others way down. Redondo Beach real estate was one of the exceptions to the massive percentage changes with a very modest 6% increase in home prices over July of 2016.  Overall Redondo Beach saw 95 home sales with a median price of $975,000.

City Homes Sold July 2017 Median July 2016 Median Year over Year % Change%
Carson 60 $480,000 $445,000 8%
El Segundo 20 $1,055,000 $1,310,000 -19.5%
Gardena 65 $549,000 $454,000 21%
Harbor City 15 $439,000 $550,000 -20.2%
Hawthorne 35 $730,000 $562,000 30%
Hermosa Beach 19 $2,025,000 $1,410,000 43.6%
Lawndale 15 $515,000 $430,000 19.8%
Lomita 21 $598,000 $585,000 2.1%
Long Beach 331 $520,000 $471,500 10.3%
Manhattan Beach 48 $2,449,000 $2,200,000 11.3%
Marina Del Rey 36 $921,000 $974,000 -5.4%
Palos Verdes Estates 28 $1558,000 $1,800,000 -13.4%
Playa Del Rey 20 $613,000 $629,000 -2.5%
Rancho Palos Verdes 63 $1,345,000 $1,160,000 15.9%
Redondo Beach 95 $975,000 $920,000 6%
San Pedro 63 $542,000 $542,000 0%
Torrance 113 $687,000 $617,000 11.4%
Westchester 33 $1,185,000 $1,116,000 6.2%

June 2017 Home Sales and Home Prices for Redondo Beach

By Keith Kyle

June 2017 was a big month for home sales in Redondo Beach CA with a fairly huge number of homes selling.  The summer months are always an active market and this year was no different with 117 homes closing escrow.  Thats well above the normal number of Redondo homes selling in a month.  Median home prices were up just a bit over June of the previous year with the median home in Redondo Beach selling at just under $970,000 which was a 2.5% increase from June of the prior year.  Click here to track all of the important real estate trends for Redondo Beach CA.

City Homes Sold June 2017 Median June 2016 Median Year over Year % Change%
Carson 61 $445,000 $450,000 -1.1%
El Segundo 15 $800,000 $1,135,000 -29%
Gardena 70 $461,000 $430,000 7.2%
Harbor City 19 $465,000 $547,000 -15%
Hawthorne 45 $592,000 $624,000 -5.1%
Hermosa Beach 26 $1,718,000 $1,274,500 34.8
Lawndale 12 $535,000 $519,000 3.1%
Lomita 18 $565,000 $555,000 1.8%
Long Beach 419 $523,000 $470,000 11.2%
Manhattan Beach 57 $2,467,000 $1,924,000 28.2%
Marina Del Rey 34 $968,000 $900,000 7.6%
Palos Verdes Estates 46 $1,679,000 $1,533,000 9.5%
Playa Del Rey 34 $683,000 $603,000 13.3%
Rancho Palos Verdes 75 $1,240,000 $1,200,000 3.3%
Redondo Beach 117 $969,000 $945,000 2.5%
San Pedro 82 $510,000 $500,000 1.9%
Torrance 184 $673,000 $635,000 5.9%
Westchester 42 $1,090,000 $1,050,000 3.8%

What’s Your Redondo Beach Home Worth

Whether you are interested in selling your home or just curious to know the value of your home, we’re here to help.

Using the very latest MLS and selling data combined with our insight into current market conditions and knowledge of what home buyers are looking for we can give you a very good idea of the value of your Redondo Beach home in the current market. Please tell us a little about your home and we will put together a full report on the value of your property.

Find Your Homes Value in Today’s Real Estate Market

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  • Tell Us About Your Home

 

Verification

Redondo Beach CA Home Sales and Prices for December 2016

By Keith Kyle

December was a pretty typical month in Redondo Beach real estate with 75 home sales at a median price of $900,000.  December traditionally is a much slower month but with the continued demand for Redondo Beach homes, there doesn’t seem to be such a thing as a slow month.  Click here to see the sold homes in Redondo Beach for December.  For the current homes for sale visit our active listings page.

City Homes
Sold
December
2016 Median
December
2015 Median
Year
over Year % Change%
Carson 54 $450,000 $420,000 7%
El Segundo 14 $816,000 $1,171,000 -30.3%
Gardena 44 $504,000 $413,000 22.1%
Harbor City 9 $523,000 $404,000 29.5%
Hawthorne 37 $575,000 $520,000 10.6%
Hermosa Beach 17 $1,380,000 $1,625,000 -15.1%
Lawndale 8 $393,000 $521,000 -24.6%
Lomita 6 $473,000 $535,000 -11.6%
Long Beach 298 $490,000 $435,000 12.6%
Manhattan Beach 38 $1,863,000 $1,831,000 1.7%
Marina Del Rey 21 $955,000 $945,000 1.1%
Palos Verdes Estates 25 $1,550,000 $1,675,000 -7.5%
Playa Del Rey 20 $658,000 $612,000 7.5%
Rancho Palos Verdes 47 $1,088,000 $945,000 15.1%
Redondo Beach 75 $900,000 $855,000 5.3%
San Pedro 58 $515,000 $485,000 6.3%
Torrance 112 $656,000 $585,000 12.1%
Westchester 32 $943,000 $892,000 5.7%