Many South Bay home buyers are looking for a starter home in the Beach Cities often look to the Golden Hills area of Redondo Beach. The area offers homes often referred to as “tall and skinnies” due to the very narrow and long lots created when the area was originally subdivided. The Golden Hills area is located just east of Hermosa Beach between Artesia and 190th. Homes are often significantly less expensive then identical homes just several blocks away in the Hill Section of Hermosa. The homes generally start in the mid $700K range for something with 1700 square feet or so, but there are always less expensive options….until recently. While pulling comparables for a Redondo Beach home seller, it was hard to believe that of the 8 homes priced below $750,000 only one was active and all others were pending. That’s a fairly incredible ratio, even in this very active market. If home sellers are considering selling their entry level Golden Hills home, now may be a great time.
The chart below shows just how far down our inventory has come on single family homes priced below $750,000. September of last year had 13 active SFR listings in the Golden Hills in this price range while now we only have one. That’s a fairly incredible turn around in one year but the inventory has steadily dropped.
Keith Kyle is a licensed Realtor, short sale specialist and Top Producing agent with Vista Sotheby’s International Realty in Manhattan Beach. He serves his clients throughout the South Bay and his websites KeithKyleHomes.com, TorranceRealEstateHomes.com, ManhattanBeachLuxuryRealEstate.com and FindYourSouthBayHome.com offer the most comprehensive real estate destinations in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more. Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com.