Big Views in the Hollywood Riviera
The Hollywood Riviera offers some homes with great views but a view this good is still rare and the oversized lot makes this home even more of an opportunity.
[idx-listing mlsnumber=”PV12128705″ showall=”true”]
Video Tour of Oceanfront Condos on the Esplanade in Redondo Beach
Oceanfront Condos on the Esplanade
When people envision living in Redondo Beach, they most often see themselves living oceanfront. While the neighboring cities of Hermosa and Manhattan Beach have oceanfront homes on The Strand, most buyers are quickly priced out as those homes generally start in the mid $4.0M. Not so in Redondo Beach with an abundance of oceanfront and ocean view condo options. Ranging from studios to true oceanfront estates, Redondo has options for just about everyone.
Search the current condos for sale on the Esplanade in Redondo Beach
South Bay Short Sales Not the “Deals” They Once Were
It wasn’t too long ago that most buyers had heard all of the horror stories
involved with short sales and wouldn’t go near them. In many conversations I explained to buyers that if they were looking for a “deal” a short sale was definitely the way to go. Unfortunately that just doesn’t seem to be the case any longer as short sale inventory is almost non-existent. According to Keith Kyle, a South Bay short sale specialist, “it’s a combination of lower inventory and a much more streamlined short sale process in which most short sales are going through. No longer are buyers overly cautious about potential short sales taking 6 months or more like they had in the past.”
While short sale may not be the bargain they once were, they still are the likeliest source of well priced homes if and when you can find them. For a current list of foreclosures visit either our Redondo Beach foreclosures site, or our South Bay foreclosures and short sales listings.
The above chart shows the “for sale” distressed homes in light green, sold homes in teal, and pending sales in red over the past 10 years. Needless to say there’s certainly not an abudance these days.
North Redondo Beach Real Estate Trends
Information is critical when considering buying or selling a home and we hope that the information below will provide some insight into what is happening in the Redondo Beach real estate market. Our first chart below shows the level of homes for sale as well as pending home sales and closed home sales by month for the past 12 months.
Homes currently active on the market are represented by the light green bar, pending home sales represented by the teal bars and sold/closed listings are represented by the red line.
The above chart represents the current months of unsold inventory based on the number of closed sales
The above chart tracks current list prices in relation to current sales prices. As the lines get closer together it is a strong indication that we are moving into a sellers market.
Lack of Starter Homes Available in the Golden Hills of Redondo Beach
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 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.
New Ocean Front Strand Townhomes in Manhattan Beach
Newly listed on September 19th, two newer construction townhomes have become available on the famous oceanfront walk of The Strand in Manhattan Beach.