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

 

So How Do I Find Out About Off Market and Pocket Listings in Redondo Beach?

In the incredibly competitive Redondo Beach real estate market many homes are not even making it to the local MLS.   Some of these homes quietly get sold without the general public even knowing that they were for sale.  So how do you find out about these homes?  First it’s important to understand just what we’re talking about.

What does off market or a pocket listing mean?

It can actually mean a few different things but in general, when we refer to homes sold off market or pocket listings these are homes that are never put on the MLS and therefore unknown to most buyers and many realtors.  That means that searching the Redfins and Zillows of the world may mean that you’re not aware of these types of opportunities.

Why would a Redondo Beach home seller want to sell the home off market?

In general it’s not a great idea.  Fewer buyers that know about the home usually means less competition and ultimately a lower sales price.  That’s certainly not always the case but usually accurate to some extent.  Sellers have many reasons for not wanting to put their home on the market.  It may be due to privacy reasons such as not wanting the neighbor or even the tenant know that the home is for sale.  It may be that they don’t want to deal with some of the hassles that come along with listing a home…..buyer’s and agents that want to show the home at all hours, open houses on the weekends and more people simply curious with few legitimate buyers.  Whatever the reason it does limit the exposure and again usually limits the price.

That’s why it can be a good opportunity for buyers….less competition, fewer bidding wars which generally leads to a lower sales price.

How do I find out about these homes in Hermosa Beach?

Unlike the MLS listings, off market, upcoming and pocket listings are much more elusive.  The key is to work with an agent that has deep connections in the community and market.  Some of the top realtors in certain areas may share information on these hard to find opportunities and the larger or more numerous the seller and agent networks, the more information the agent can obtain.

We are happy to help you find off market homes but this requires a good deal of work, considerable communication with sellers and agents and a readiness to act should the right home come available.  If you would like us to help find off market opportunities and you are not currently working with a realtor please feel free to text us at 310-251-2344 or email us with the details of your home search.

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%

Vista Sotheby’s International with Offices in Redondo and Hollywood Riviera Top Producers

Vista Sotheby’s International, one of the top real estate firms in the South Bay area of Los Angeles have recently introduced their “Top Producers” for 2016. With offices throughout the area including Manhattan Beach, Hermosa Beach, Palos Verdes, Redondo Beach and the Hollywood Riviera, Vista Sotheby’s has quickly become the dominant force in the local real estate market.

We are proud to annouce that Manhattan Beach realtor Keith Kyle was one of the top agents companywide and was the #9 top producing agent for 2016.   Congrats to all of the realtors given the award.  See also the Vista Sotheby’s top producers for 2015.

We wanted to thank all of our clients and friends that helped make 2016 such as successful year in real estate.

It’s a challenge to find single family homes in North Redondo

For buyers looking for single family homes in North Redondo Beach they really have two options.  The Golden Hills area which is primarily made up of long and narrow homes we call “tall and skinnies”, the TRW tract which is a bit further east but offers a charming neighborhood setting with smaller homes on larger lots, and a pocket in the southeast corner called El Nido.  But in between the two neighborhoods sits a pretty large area and single family homes are hard to find.

One of the reasons is that the lots are often large enough for a duplex, triplex or multiple townhomes.  If there’s a smaller single family home on the large lot, it often gets sold to a builder that will knock it down and replace it with multiple townhomes.  It’s not the greatest way to keep things charming, but makes financial sense for the seller and buyer.

If your Redondo Beach home search is focused on north Redondo single family homes, you’re generally limited to the areas in red on the below map.  Contact us for more information or to search the homes for sale in the area.

Just Sold – 2209 Nelson Redondo Beach CA

This better than new coastal craftsman is as beautiful on the inside as the outside2209-nelson-redondo-beach and dramatically different than the standard Redondo townhome.  From the moment you see 2209 Nelson in Redondo Beach you’ll realize that this is unlike anything on the market.  Entering the home, you’ll be struck by the bright and open floorplan and attention to details. From the nine foot high ceilings,  6″ oak flooring to the El Dorado stone fireplace to the wainscoting and custom colors this home is designer perfect.  The lower level features a bright and open floorplan for today’s lifestyle and perfectly blends beach casual with modern luxury.  Ideal for entertaining the home features an open kitchen with granite counters, stainless appliances, Merillat maple cabinetry, center island and breakfast bar.  The kitchen opens to both the dining area and the spacious living 2209-nelson-living-room-entryroom.  Direct access to the private backyard and patio is ideal for indoor outdoor living.

Contact listing agent Keith Kyle with Vista Sotheby’s International Realty for more information.

Head upstairs to 3 beautiful  bedrooms plus the incredible master suite.  All bedrooms offer plantation shutters, vaulted ceilings, recessed lights, and all enjoy an abundance of natural light.  The master suite is a stunning retreat bathed in natural light, with vaulted ceilings, beautiful stone fireplace, private sitting area, balcony, and walk in closet.  The spacious master bath offers separate jacuzzi tub and shower, dual vanities, marble countertops and travertine flooring.  This beautiful home is a rare find in today’s market of cookie cutter homes.  View the 2209 Nelson photo gallery or visit the virtual tour.

  • $1,195,000
  • 4 bedrooms
  • 2 1/2 bathrooms
  • Fully detached – feels like a single family home
  • Private patio and yard
  • 2,350 square feet (approx – buyer to verify)
  • Craftsman Style
  • Decorator perfect interior
  • Open Layout
  • Traditional floorplan
Play VisualTour

Redondo Beach Sees Year Over Year Home Price Increase for May of 2016

Redondo Beach, CA saw a year over year price increase in May with 96 homes sold this month at a median price of around $950,000 which was considerably up from $845,000 the prior May.  Redondo Beach was the only one of the Beach Cities (Manhattan Beach, Hermosa Beach and Redondo Beach) to see gains over the prior year.  The 96 home sales is a big number for Redondo and is a good indication that the market activity has picked up with more homes coming on the market.  Click here to see the homes sold in Redondo Beach for May of 2016.

City Homes
Sold
May
2016 Median
May
2015 Median
Year
over Year % Change%
Carson 57 $453,000 $410,000 10.4%
El Segundo 12 $802,500 $803,500 -.1%
Gardena 47 $425,000 $405,000 4.9%
Harbor City 26 $439,000 $415,000 5.8%
Hawthorne 39 $485,000 $525,000 -7.7%
Hermosa Beach 21 $1,285,000 $1,450,000 -11.4%
Lawndale 14 $455,000 $431,000 5.6%
Lomita 15 $488,000 $509,000 -4.1%
Long Beach 349 $485,000 $433,000 11.9%
Manhattan Beach 48 $1,875,000 $2,239,000 -16.2%
Marina Del Rey 31 $925,000 $918,000 .8%
Palos Verdes Estates 55 $1,499,000 $1,515,000 -1.1%
Playa Del Rey 24 $560,000 $615,000 -8.9%
Rancho Palos Verdes 58 $1,060,000 $1,100,000 -3.6%
Redondo Beach 96 $950,000 $845,000 12.5%
San Pedro 66 $489,000 $449,000 8.8%
Torrance 138 $593,000 $579,000 2.4%
Westchester 30 $1,130,000 $900,000 25.6%

Redondo Beach Median Home Prices for December 2015

By Keith Kyle2114 Farrell Redondo Beach

The December numbers are in and if there was any thought that the real estate market in Redondo Beach was leveling the numbers certainly say otherwise.

The average home price in Redondo Beach for the homes that closed escrow during December was $930,840 with a median price of $836,250.  Those are big numbers that still shows no sign of slowing or reversing.   See the chart below for the December home sales numbers for Redondo Beach and the South Bay for December of 2015.

City Homes
Sold
December
2015 Median
December
2014 Median
Year
over Year % Change
Carson  73 $360,000 $365,000 -1.4%
El Segundo 10 $949,000 $735,000 20.2
Gardena 41 $420,000 $385,000 9.1%
Harbor City 15 $483,000 $467,000 9.1%
Hawthorne 35 $508,500 $667,750 -23.8%
Hermosa Beach 24 $1,475,000 $1,360,000 8.5%
Lawndale 13 $420,000 $415,000 1.2%
Lomita 16 $520,000 $490,000 6.1%
Long Beach 339 $456,000 $395,000 15.4%
Manhattan Beach 34 $2,184,000 $1,689,000 29.3%
Marina Del Rey 31 $905,000 $759,000 19.2%
Palos Verdes Estates 29 $1,456,000 $1,150,000 26.7%
Playa Del Rey 17 $605,000 $482,000 25.5%
Rancho Palos Verdes 48 $1,170,000 $1,135,000 3.1%
Redondo Beach 89 $836,250 $770,000 7.3%
San Pedro 72 $517,500 $492,000 5.2%
Torrance 133 $597,000 $562,000 6.3%
Westchester 34 $951,000 $807,500 17.8%