If you feel like a small diversion from the beach, take a look at many of the
wonderful homes are currently for sale. There are plenty of open houses to take a look at this weekend in the cities of Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo. Click here to see this weeks open houses in the South Bay.
The June home sales numbers are in and once again it was a very big month for
home prices as many areas reached multi year highs once again. The beach cities saw very high median home prices as many luxury properties sold at prices unseen in the past. Click on the links below to view the home sales for various South Bay cities.
June 2013 Home Sales
El Segundo
Gardena
Hawthorne
Hermosa Beach
Hollyglen
Hollywood Riviera
Lawndale
Manhattan Beach
Palos Verdes Estates
Rancho Palos Verdes
North Redondo Beach
South Redondo Beach
San Pedro
Southwood, West & South Torrance
May 2013 was a big month for both the number of home sales and prices in the cities of Manhattan Beach, Hermosa, Redondo Beach and El Segundo. Both the number of sales and home prices were on the rise. The chart below paints a pretty clear picture that the number of homes for sale, as well as pending sales and closed home sales is on the rise. According to local real estate expert Keith Kyle, “as we see the inventory of new listings rise we should start to see the return of a balanced market. We had a very unusual turnaround in which we went directly from a buyers market to a sellers market and never really reached an equilibrium.”
View the homes sales by clicking any of the May 2013 home sale links below.
The Hollywood Riviera real estate market has taken off in the past few weeks with a median list price of over $1.5M which is a fairly unbelievable number for an area with a median sales price of just over $1.0M for the past 4 months. Included in these sold homes was the ocean front home at 623 Paseo De La Playa which sold for $2.625M and without that very unique sale, median prices would have been considerably lower. What accounts for this incredible increase?
According to Redondo Beach specialist, Keith Kyle, it is a combination of a number of factors. “The market has clearly changed in the past few months with inventory dropping and prices rising. In addition the homes currently on the market just happen to be more upgraded and larger as sellers with luxury homes in the Hollywood Riviera have decided it is great time to list their homes. One last factor is the dramatic reduction in the number of distressed sales. As of a year ago distressed sales made up a sizable portion of the listings and are almost non-existent these days.” Click here to view the most recent home sales in the Hollywood Riviera.
As one of the top listing and selling Realtors in Redondo Beach, we know how to help buyers find and negotiate on the right home, and know how best to get Redondo Beach home sellers the highest sales price with the fewest hassles. View our Redondo Beach home sales and listings to get a sense of the homes we sell and how we may be able to help with your real estate needs
.
It’s no secret that it’s a frustrating world out there for home buyers. Oh how quickly things turned from a strong buyers market to a market clearly favoring sellers. According to Redondo Beach Realtor Keith Kyle “There is incredibly low inventory everywhere and the high demand areas of the South Bay such as Manhattan Beach, Hermosa Beach and Redondo Beach have little to offer buyers at the moment”. To make life even more frustrating for Beach Cities home buyers, is that the moment a well priced home comes on the market, the frenzy starts with buyers often going way over asking price, waiving the appraisal contingency and simply buying homes above current market value. The chart below sums it up pretty clearly with the number of active homes for sale in the South Bay plummeting from over 1500 a year ago to just over 600 in December of 2012. This is while the number of closed sales has remained steady.
To view the current homes for sale visit our South Bay MLS search, or click our recent home sale page to see the most recent home sales in the South Bay cities of Manhattan, Hermosa, Redondo Beach, Torrance, El Segundo and surrounding areas.
