Palos Verdes Real Estate Explained – Community and Home Info

By Keith Kyle

Real estate on the Palos Verdes peninsula isn’t always easy to figure out. When people say Palos Verdes, or PV, it’s not always clear just what they’re talking about. With 4 different cities (really 5 if you include the unincorporated area that is actually called Palos Verdes Peninsula), multiple real estate areas often including more than one city, the entire area serviced by the Palos Verdes Unified School District, various zoning issues including equestrian areas and vastly different areas and neighborhoods (not to mention distinct climates)….how is one able to get a handle on the area?

The map below should help as it’s broken down into both cities and real estate “areas”.

The pink sections show Palos Verdes Estates and the corresponding real estate numbers used by realtors to break the areas down into similar real estate neighborhoods.  The orange areas show Rancho Palos Verdes which had an abundance of very distinct areas and neighborhoods.  The purple shows Rolling Hills Estates, green represents Rolling Hills (gated community with very large lots) and the yellow is the small pocket of Palos Verdes Peninsula.

Palos Verdes real estate map

July 2014 Median Home Prices for Redondo and the South Bay

By Keith Kyle

July 2014 saw some big numbers in terms of both number of homes sold as well as median prices.  Redondo Beach had 97 sold homes at a median price of just under $1,000,000 which is a pretty significant number for this coastal community.  Most other South Bay cities also saw some significant year over year increases in prices with the exceptions being Torrance, Marina Del Rey and Playa Del Rey.  To see the actual homes sales in each city visit our recent home sales price and information site.

City Homes Sold July 2014 Median July 2013 Median Year over Year % Change
Carson 48 $382,500 $350,000 9.29%
El Segundo 15 $872,000 $797,000 9.41%
Gardena 50 $385,000 $332,500 15.79%
HarborCity 13 $480,000 $465,000 3.23%
Hawthorne 51 $505,000 $400,000 26.25%
Hermosa Beach 26 $1,230,000 $1,097,500 12.07%
Lawndale 8 $412,000 $331,250 24.38%
Lomita 13 $555,000 $452,000 22.79%
Long Beach 330 $400,000 $365,000 9.59%
Manhattan Beach 43 $1,795,000 $1,521,250 18.00%
Marina Del Rey 33 $757,500 $862,500 -12.17%
Palos Verdes Estates 51 $1,600,000 $1,291,000 23.93%
Playa Del Rey 23 $507,000 $512,000 -0.98%
RanchoPalos Verdes 54 $1,069,000 $1,100,000 -2.82%
Redondo Beach 97 $865,000 $758,000 14.12%
San Pedro 49 $440,000 $420,500 4.64%
Torrance 142 $540,000 $576,250 -6.29%
Westchester 48 $777,500 $715,000 8.74%

Priced out of The Strand in Manhattan and Hermosa? Great Option in the Hollywood Riviera

By Keith Kyle

I get a number of inquiries from my site SouthBayOceanFront.com from buyers looking for a beach front home on The Strand in Manhattan Beach and Hermosa Beach.  Many of these buyers are extremely qualified and have the ability to comfortably purchase multi-million dollar homes.  The problem in today’s market is that values along the beach in Hermosa and Manhattan have gone up considerably in the past 18 months.  There are currently 9 oceanfront single family homes on The Strand and 8 of them are priced over $10,000,000.  That was a relatively unheard price point just 2 years ago and now there are several over $15,000,000.

So what is a $5,000,000 buyer to do?

Unfortunately homes becoming available in that range are probably a thing of the past, but there is an option not far and it may even offer attributes that The Strand can’t offer.  The area is the Hollywood Rivera (about 10-15 minutes south) and there is a fantastic bluff top street called Paseo De La Playa that offers oceanfront homes, large lots that extend all the way to the beach (some fortunate homes have paths that access the beach directly from the home), and views not only of the beach, but Palos Verdes, the ocean, King Harbor, and coastline views that extend all the way to Malibu.

As of this post, there are 2 oceanfront homes for sale on Paseo De La Playa.  The first is currently in escrow located at 605 Paseo De La Playa and is listed for $4,295,000.  The second is an off market sale in which the owner is trying to sell it themselves at 617 Paseo De La Playa and the owner is asking $4,350,000.

The homes on Paseo were all originally on leased land with many of the former owners buying out the leases in the past and are now owned free and clear.  Built in the 60’s and 70’s some of the homes are fairly original while many have been extensively remodeled.

Redondo Beach Hollywood Riviera

Why Homes are More Expensive in South Redondo than North Redondo Beach

Why South Redondo Homes Cost More than North Redondo Homes

For buyers (and sometimes even sellers) unfamiliar with the differences in local market in the South Bay, Redondo Beach is just one single real estate market.  In reality the differences between neighborhoods can be significant and home values and prices show a clear distinction between similar homes in North Redondo and South Redondo.    The city has a number of distinctive neighborhoods but the main sections are broken into North and South and the dividing line is basically 190th Street.  North Redondo is quite a bit less expensive due to the location as it sits behind Hermosa and Manhattan Beach so there are no homes with ocean views and the feel of the area is different as it’s not along the water.  South Redondo ends at the beach and the ocean to the west and has a unique beach charm and homes often have great views.  The recent listings and sales of very similar homes, both in terms of style, layout, size and new construction, make clear the differences in values.

Below is a map showing the general layout, location and dividing lines between north and south Redondo Beach

 Areas 151-154 are North Redondo and 155-157 are South Redondo

Redondo Beach real estate map
The Village ocean view condos

Building Spotlight – The Village Condos in Redondo Beach

The Village condos and Townhomes - 610-690 The Village Redondo beach CA 90277

Studio, One and Two Bedroom Condos

By Keith Kyle

The Village in South Redondo Beach may just be the most affordable way of living near the water in the South Bay.  

The Village condominiums and townhomes feature 323 well maintained units including studio, 1 bedroom, and 2 bedroom condos along with a few townhome style homes at the southern end of the property.  

The Village offers resort style living and includes two beautiful pool and spa areas (one is for owners only, the other is owned by Ocean Club rental units but fully usable by the owners in The Village) a state of the art fitness center (again part of the Ocean Club but free access is provided to owners) several bbq areas, walk paths, access to the Redondo pier area and more.  

Most units have ocean views, ocean breezes and are a wonderful place to call home…or a second home.  Visit our 620 The Village site for pictures, videos, floorplans and more.

Village facts and figures

  • Well-managed 323 unit complex, with onsite-manager and maintenance staff
  • Gated Community
  • Financially strong HOA, with the most recent reserve study estimating reserve funding at 88% on 12/31/2013*
  • Continuous history of low HOA dues
  • A Legal Judgment, favoring The Village, specifies that Lyon Management Group cannot increase the monthly fee they charge the Village HOA for our access to the recreational facilities at the Ocean Club.** Long term, this helps to keep our HOA dues down.
the Ocean Club Pool at The Village

community amenities

  • Two beautifully renovated pool areas, each with its own pool and jacuzzi
  • Poolside, ocean view patio seating for dining and lounging
  • A fire pit to enjoy the ocean view and outdoors on a cool day or evening
  • Three barbeque areas to grill up your favorites while watching sunset
  • Ocean view state of the art fitness center
  • Lush landscaping, ponds, and waterfalls
  • Ocean view dog path
  • Steps to Bicycle Path, Beach, Pier, and Harbor
  • Passenger Elevator

Pets

  • “Each unit is Limited to One Pet under 15 inches tall from its shoulder.”
  • “Pets shall be ordinary household pets such as dogs, cats, birds, and fish.”
  • See Pet Rules and Regulations for additional information.

What’s around the Village?

One of the nicest features to living in The Village is that you can park your car on a Friday and never need to get back in until Monday (or if you’re really lucky weekdays are not any different than weekends). There is so much to do and all within walking distance.

  • World famous Redondo Beach
  • King Harbor
  • The Redondo Beach pier
  • The fitness center right on the property
  • 2 pools and spas (one shared with Ocean Club apartments and one only for The Village)
  • On site market and restaurant
  • Kincaid’s Restaurant
  • Old Tony’s

Just a few of the many activities just outside your door!
Additional recreational activities are available throughout the waterfront, such as:

  • Fishing from the Pier in designated areas
  • Sportfishing Boat Redondo Beach Marina (310) 374-3481
  • Whale Watching Boat Redondo Beach Marina (310) 374-3481
  • Marina Boat Rides Redondo Beach Marina (310) 374-3481
  • Ocean Racer Redondo Beach Marina (310) 374-3481
  • Charters Redondo Beach Marina (310) 374-3481
  • Sailing Instruction Marina Sailing (310) 318-2772
  • Bicycling Marina Bike Rentals (310) 376-0431
  • Waverunner Rentals Redondo Beach Marina (310) 374-3481
  • Bike Riding along the L.A. County Bike Path
  • Roller Skating/Rollerblading along North Harbor Drive
  • Sport Center Fitness Club located at 819 N. Harbor Drive (310) 376-9443
  • Redondo State Beach 2 miles of clean, sandy beach for sunbathing, swimming, or surfing
  • Whaling Wall travel on North Harbor Drive and you can’t miss the the mural painted by world famous artist Wyland

* Source: November 13, 2013, Village COA, Annual Budget Report

** Documentation to be provided to Buyer

Current Condos for Sale in The Village Redondo Beach

pool area of Brookside Village

This Weeks Least Expensive Home in Redondo – Condo in Brookside Village

Brookside Village condo in Redondo Beach

 As is often the case, the least expensive home in Redondo Beach** (not including 55 and older buildings) is a condo in Brookside Village in South Redondo Beach.  Brookside Village is a planned community comprised of 385 condominium units in 32 buildings in a park like setting and located just a short distance to the beach. The complex offers 2 pools, 3 Jacuzzis, 2 saunas, 2 tennis courts, a clubhouse, and a gym.   All of the addresses are on either Prospect or Camino Real.

Currently the least expensive home is located at 605 Prospect #106.  It is a lower level 1 bedroom/1 bath with just about 670 square feet.  **Please note that this post was written in 2014) 

Search the current condos for sale in Brookside Village Redondo Beach

Brookside Village Redondo Beach

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

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

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