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

Village Palos Verdes in the Hollywood Riviera

Oceanview townhomes in Redondo Beach

By Keith Kyle

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.  Units 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.  

Village Palos Verdes townhomes
Village Palos Verdes oceanview townhomes in the Hollywood Rivieraa

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 beach, 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.

View the current townhomes and condos for sale in the Hollywood Riviera

Current Townhomes and Condos for Sale in the Hollywood Riviera

Redondo Housing Inventory Stays Low…So Where are the New Listings?

By Keith Kyle

As a Redondo Beach realtor who has been doing this a while, I’ve come to expect a nice increase in houses for sale in mid to late January. As the holidays wrap up, football season ends, and everyone gets back to work, we generally see a nice increase in homes that hit the market. It can often set the tone for much of the year as and abundance of homes early in the year often seems to stabilize the market one way or another. Unfortunately 2015 hasn’t seen that increase as the number of active homes for sale continues to go down at a time when the homes for sale should be going up. It’s still early enough that sellers may yet be holding off for a week or two to put their homes on the market and it would be welcome relief for the home buyers sitting and waiting.

The chart below shows the number of homes for sale represented by the light green bar. As of January 29th there are only 88 homes for sale in all of Redondo Beach.

 

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.

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.

 

Paseo De La Playa homes for sale

Two Big Oceanfront Home Sales in the Hollywood Riviera on Paseo De La Playa

By Keith KyleSouth Redondo homes

Monthly home sales median prices can often be skewed by a few big numbers and October will certainly reflect that with two homes selling on the oceanfront street of Paseo De La Playa in the Hollywood Riviera.

The first sale was located at 406 Paseo De La Playa which is actually the non ocean front side of the street, but due to it’ location there are no homes on thewest side of the street and most of the ocean views are unblocked and panoramic.  The home was a very nice contemporary/modern design with large windows to allow for floor to ceiling views.  With 4 bedrooms and 3 1/2 baths the home sold for a sizable $3.380,000 which is a number not generally seen on the east side of the street.

ML#:   SB14186042 
Property Type Single Family Home
Price:   $3,380,000 
Price Per Sqft:   $946.78 
Square Feet 3570
Lot Size   6725 sq ft
Bedrooms:   4 
Baths:  3.5

The second home was located oceanfront at 605 Paseo De La Playa and sold for a sizable $4,300,000.  The home was a very original condition 1962 built home and for all intents and purposes this was a lot sale which sets a new price point for lot value in this highly sought after strip of land.  The homes on this side of the
street have enormous lots over 20,000 feet but much of the land is a fairly unusable cliff/bluff.  They were originally on leased land but many of the homeowners have bought out the lease at one point or another.   One of the appealing aspects of this home was that it had a trail leading down to the beach and water which is fairly unique and almost impossible to do these days due to stringent restrictions by the California Coastal Commission.

ML#:   PV14177338 
Property Type Single Family Home
Sales Price   $4,300,000 
Price Per Sqft:   $1,352.63 
Square Feet 3179
Lot Size   21,739 sq feet
Bedrooms:   4 
Bath:  3

There is currently two additional oceanfront home on the market and actively for sale.   The first is  located at 617 Paseo De La Playa, Redondo Beach CA 90277.  As with most of the homes along Paseo, it’s been updated but still somewhat original.  Offering unbelievable views this will certainly be someone’s coastal dream house.

The second home is a palatial estate offering 7 bedrooms, 7 baths, over 7000 feet of living space on an almost 26,000 foot oceanfront lot.   The home is located at 433 Paseo De La Playa.

 

Esplanade oceanfront condos redondo

Price Reductions Making this Oceanfront Esplanade Home for Sale Intriguing

The home located at 709 Esplanade hasn’t been one of the easiest homes to sell, despite the fact that it sits oceanfront with unbelievable views from Palos Verdes to Malibu.  It’s a home with some challenges and will require a buyer with some vision, and some money to do a fairly sizable remodel.  It’s been listed by a number of realtors and has come down from the hyper inflated $10,000,000 that it started at in 2012.  It’s a fairly palacial home by any South Bay standards with the sellers claim that it’s over 9000 feet.  Unfortunately it’s a classic example of an owner with very specific tastes that doesn’t appeal to the masses.  The owner clearly liked the color pink (or salmon we’re not sure) and tile.  Just about every surface in the home is a pinkish tile and some of the features are a challenge for most luxury home buyers…..pink frog fountains, pinkish kitchen, etc.  In general our opinion is that the home will need a total overhaul, but at it’s current price it is starting to be a very enticing option for the homeowner that wants it all.  Contact us or call/text 310-251-2344 for more information.

 

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

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