By Keith Kyle
What makes Redondo Beach such a desirable place to live?……Just about everything. Take a look at our Welcome to Redondo Beach video to see why the saying “if you’re lucky enough to live at the beach…..you’re lucky enough” is certainly true in this wonderful coastal community.
By Keith Kyle
Redondo Beach saw an impressive number of homes selling in September of 2015 to end the summer selling season with 97 closed escrows. In addition the median home price in Redondo was $875,000 which shows significant gains in value over the past year. The market was hot throughout Redondo Beach with homes in both North and South Redondo often selling quickly and with multiple offers. Click here to see all of the homes sold in Redondo Beach in September of 2015.
| City | Homes Sold |
September 2015 Median |
September 2014 Median |
Year over Year % Change |
| Carson | 49 | $406,000 | $366,000 | 10.8% |
| El Segundo | 9 | $1,045,000 | $517,000 | 76% |
| Gardena | 33 | $440,000 | 365,000 | 20.5% |
| Harbor City | 18 | $514,500 | $462,500 | 11.2% |
| Hawthorne | 27 | $513,000 | $550,000 | -6.7% |
| Hermosa Beach | 20 | $1,200,000 | $1,020,000 | 17.7% |
| Lawndale | 13 | $450,000 | $379,000 | 18.6% |
| Lomita | 15 | $580,000 | $570,000 | 1.8% |
| Long Beach | 390 | $435,000 | $420,000 | 3.7% |
| Manhattan Beach | 39 | $2,050,000 | $2,025,000 | 1.2% |
| Marina Del Rey | 29 | $865,000 | $817,000 | 5.9% |
| Palos Verdes Estates | 35 | $1550,000 | $1575,000 | -1.6% |
| Playa Del Rey | 18 | $542,000 | $534,000 | 1.6% |
| Rancho Palos Verdes | 49 | $1,040,000 | $1,058,000 | -1.7% |
| Redondo Beach | 97 | $875,000 | $790,000 | 10.8% |
| San Pedro | 69 | $442,000 | $459,000 | -3.6% |
| Torrance | 135 | $585,000 | $527,00 | 10.9% |
| Westchester | 26 | $908,000 | $872,000 | 4.1% |
By Keith Kyle
As the market has had so much momentum over the past 2 years, short sales and foreclosures have slowed to a trickle. Even most of those homeowners that had found themselves underwater and hanging on have taken advantage of skyrocketing prices as homes have moved above and beyond previous peak levels.
What’s unusual is the recent increase in these rare “distressed” sales as of late. As of this post, there are now 7 foreclosure homes on the market in Redondo Beach. 3 of the homes are bank owned, or REOs (real estate owned) and 4 are short sales. This is one of the higher numbers of distressed homes that we have seen in a while. While they can still be an opportunity and may be priced a bit below market value, these foreclosures don’t quite present the deals that they once did. Contact us or visit our South Bay foreclosure homes for sale for more information or to receive free foreclosure listing updates.
By Keith Kyle
When most buyers come to me they know that they’re interested in Redondo Beach, but don’t know much about the various parts and the differences in the neighborhoods. While there are a number of different neighborhoods and real estate “areas” the big distinction is between North Redondo and South Redondo.
So what’s the difference?
The physical dividing line between the two is 190th Street and Anita, but in reality the differences are much more than just the separation of the street. The “feel” of North Redondo and South Redondo are the most significant difference. North Redondo sits east of Manhattan Beach and Hermosa Beach with no beach to call it’s own, while South Redondo has the prototypical “beach” feel and incorporates the areas of King Harbor, Redondo Beach, the Redondo pier and the beachfront street of the Esplanade.
Both north Redondo and South Redondo have a variety of housing options ranging from condos to mansions and everything in between, but when people often think of “Redondo Beach” they think of oceanfront and oceanview homes and those are only found in South Redondo.
The tradeoff is home prices and values. In general, homes in South Redondo are more expensive and more valuable than similar homes in North Redondo, and it’s really all about the proximity to the beach, and the “beach” feel. While condos are a bit rarer in North Redondo, home prices generally start in the mid $500,000 for a smaller condo or townhome up to well over $1,500,000 for a larger home on a larger lot. Home values can start in the mid $300,000 for a condo in Brookside Village and can reach to over $10,000,000 (which is very rare) for one of the few oceanfront estate style homes on the Esplanade.
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% |
By Keith Kyle
One of the more common types of houses in both north and south Redondo Beach is what we call a two on a lot. At some point there was either a small home or small duplex on a larger lot. While the city of Redondo will not allow these lots to be split, they can, depending on zoning, be the sites for multiple unit townhome buildings. In general the zoning either allows a 3 on a lot townhome or a 2 on a lot townhome. The appeal to the two on a lot is that it often feels more like a single family than what most think of when they hear townhome or townhouse. The 2 on a lot can either be attached (usually the shared wall is the garage downstairs and either the master or a patio wall upstairs) or detached with no shared walls and usually a yard separating the two. Both types of 2 on a lot can be a great alternative to a single family home. They are usually larger, newer and in better locations than an SFR in the same price range. In some cases these detached two on a lot have the even better fortune of being on a corner lot giving the two separate townhomes different street addresses and a look and feel of two completely different homes. Values for 2 on a lot Redondo Beach townhomes have skyrocketed in the past 2 years with new construction detached two on a lots nearing $2.4M.
