South Bay Median Home Prices on the Rise

Year over year median home prices increased in most South Bay cities for September 2012.  12 of the 18 cities we track saw increases in median prices from September of the previous year.  Manhattan Beach real estate along with Hermosa and Torrance saw double digit increases while Redondo Beach had an increase in home values of only 1%.

Click here to view the sold homes listed per South Bay city for the month of September.  To see charts and information on real estate trends visit our market trends section.

 

City Homes
Sold
September
2012 Median
September
2011 Median
Year
over Year % Change
Carson 54 $270,000 $277,500 -2.70%
El Segundo 16 $595,750 $550,000 8.32%
Gardena 44 $310,000 $279,000 11.11%
Harbor City 19 $215,000 $238,000 -9.66%
Hawthorne 40 $383,500 $327,500 17.10%
Hermosa Beach 23 $1,037,500 $905,000 14.64%
Lawndale 15 $241,000 $285,000 -15.44%
Lomita 13 $410,000 $407,000 0.74%
Long Beach 286 $295,000 $285,500 3.33%
Manhattan Beach 29 $1,300,000 $1,125,000 15.56%
Marina Del Rey 30 $706,000 $611,250 15.50%
Palos Verdes Estates 31 $1,085,500 $1,100,000 -1.32%
Playa Del Rey 14 $405,000 $522,500 -22.49%
Rancho Palos Verdes 47 $950,000 $893,000 6.38%
Redondo Beach 73 $659,000 $652,500 1.00%
San Pedro 44 $372,500 $310,000 20.16%
Torrance 123 $462,000 $403,000 14.64%
Westchester 39 $625,000 $659,000 -5.16%
Redondo Beach real estate trends

Home Listings on the Decline in the Beach Cities Area

Beach Cities Real Estate Market UpdateThe Village condos at sunset

Home Listings on the Decline

The number of frustrated South Bay home buyers (and buyers agents) continues to rise as the inventory of available homes in the South Bay and Beach Cities continues to decline with a multi year low for the month of October.  October closed out with 224 active homes for sale in Manhattan Beach, Hermosa Beach, Redondo and El Segundo which was dramatically lower than any other month and down over 50% from last September.  Currently there are 216 homes for sale with the downward trend appearing to continue.  Pending sales were on the rise as well with October closing with  180 homes in escrow.  That’s an unbelievable ratio of active to pending sales and something not seen in many years.  Click here to view the current homes for sale or to see October 2012 home sales per city.

 

 

 

Oceanview balconies at 620 The Village

October 2012 Home Sales in the South Bay

October saw some strong indicators in the local South Bay real estate market with low inventory and continued price increases.  Click any South Bay city below to see the homes sold in October 2012 or see our market trends  pages for information on the real estate market in Redondo Beach.
 October 2012 Home Sales


El Segundo
Gardena
Hawthorne
Hermosa Beach
Hollywood Riviera
Lawndale
Manhattan Beach
Palos Verdes Estates
Rancho Palos Verdes
North Redondo Beach
South Redondo Beach
San Pedro
Southwood, West & South Torrance

Hermosa Beach Sand Section Real Estate Update

The Hermosa Beach sand section has continued to be an incredibly hot market with inventory low, sales up and prices seeming to rise quickly.  Currently there are 15 active listings with almost all being standard sales as the inventory of foreclosure and short sale listings have almost completely disappeared.

Active listings as of 10/29/12.  For up to date information view our Hermosa Beach sand section listings.

Below is a list of the pending home sales in the sand section of Hermosa Beach as of October 29th, 2012.  Currently 13 homes are in escrow with the lowest price being a short sale condominum located beach front at 72 The Strand (priced dramatically too low) and the highest price being a single family home at 718 The Strand (on the corner of 35th and Hermosa Ave) priced at $6,300,000

MLS# Type Address Price Br/Ba Year Sq Feet
S709685 CONDO/A 447 HERONDO ST #103 $ 525,000 2/2,0,0,0 1978/ASR 1398
P836326 CONDO 320 HERMOSA AV #204 $729,000 2/2,0,0,0 1972/ASR 1049
S12044286 CONDO/A 1300 The Strand #305 $850,000 1/1,0,0,0 1998/ASR 469
V12114260 SFR/D 1635 Palm DR $950,000 2/0,2,0,0 1920/ASR 1002
S12113824 SFR/A 516 24th ST $995,000 2/1,0,1,0 1962/ASR 1302
S12124273 SFR/A 421 Gould AV $1,000,000 3/1,0,0,0 1955/ASR 1018
SB12132957 TWNHS/D 233 Lyndon ST $1,099,000 3/2,0,1,0 2006/BLD 2000
SB12129991 SFR/D 1617 Hermosa AV $1,100,000 2/1,1,0,0 1912/ASR 960
12620619 SFR/A 304 MANHATTAN AV $1,199,000 2/2.00 1948 1496
S12090810 TWNHS/D 836 Bard ST $1,359,000 4/3,1,0,0 2007/ASR 2120
S12105793 TWNHS/D 842 Bard ST $1,389,000 4/3,0,1,0 2007/ASR 2120
SB12131835 TWNHS/D 446 Bayview DR $1,485,000 3/4,0,0,0 1998/ASR 2199
SB12131502 TWNHS/A 900 Manhattan AV $1,539,000 4/4,0,0,0 2001/ASR 2322
SB12133012 SFR/D 2412 Silverstrand AV $1,649,000 3/1,2,0,0 1964/ASR 2224
S12072991 SFR/D 3501 Manhattan AV $1,699,000 3/2,0,0,0 1975/ASR 1903
Y1204492 SFR/D 229 24TH ST $1,799,000 4/3,0,1,0 1996/ASR 3211
S12114109 SFR/A 18 5th ST $2,199,000 3/4,0,0,0 2010/SLR 2155
S12075202 SFR/D 2448 Silverstrand AV $2,689,000 6/4,0,1,0 2001/ASR 4234
S12123796 SFR/D 2240 Monterey BL $3,100,000 4/2,2,0,0 1991/ASR 4080
S12069957 SFR/D 43 20th ST $4,395,000 6/5,0,1,0 2002/ASR 3669
S12123299 SFR/D 412 The Strand $4,875,000 5/2,2,1,0 1929/ASR 3833
S12118481 SFR/D 108 35th ST $4,950,000 4/2,1,1,0 2013/SLR 4000

El Camino Village Real Estate…Hot But Not

The area of Gardena and Lawndale known as El Camino Village has long been a fantastic option for buyers, especially first time home buyers, feeling priced out of many of the family friendly neighborhoods of Redondo Beach and Torrance. The good news is that although prices are going up, they’re still well below other similar areas….the bad news is that there just are no homes available. At the moment there is one home available with 12 pending home sales.  On first look that is an absolutely stunning ratio but it is a bit misleading.  Of the 12 homes 11 are short sales and the other is a flip meaning some of these homes have shown pending status for a very long time.  What looks to be an ultra hot market isn’t quite as active as it appears with an average days on market of 144.  Bottom line in this great area is that it is a great opportunity with the short sale opportunities, but with almost no active inventory and future home for sale likely won’t last long.  See below for the current El Camino Village homes for sale.

MLS# Status Address City Price Br/Ba Yr Blt Sq ft
SB12131049 Active 15234 Cerise AV GR $ 369,000 3/1,0,0,0 1947/ASR 1206 STD
Y1203732 Pending 3242 154 ST GR $ 339,500 2/1,0,0,0 1943/SEE 1282 SPAY
S12112360 Pending 15612 Florwood AV LAWN $345,000 3/1,0,0,0 1952/ASR 1024 SPAY
P701480 Pending 15532 FAYSMITH AV GR $ 349,000 3/1,0,0,0 1947/ASR 1001 SPAY
SW12126917 Pending 15516 Florwood AV LAWN $425,000 3/2,0,0,0 1952/ASR 1500 SPAY
R1204800 Pending 15609 FALDA AV GR $438,900 3/1,0,1,0 1951/ASR 1446
Y1202217 Pending 15607 CERISE AV GR $345,000 3/1,0,0,0 1947/ASR 1078 SPAY
S12095612 Pending 15527 Lemoli AV GR $299,000 3/1,0,0,0 1946/ASR 1026 SPAY
S694642 Pending 3728 MARINE AV LAWN $300,000 3/1,0,0,0 1951/ASR 1106 SPAY
V11033751 Pending 3163 152nd PL GR $310,000 2/1,0,0,0 1943/ASR 975 SPAY
S12099784 Pending 15533 Patronella AV GR $330,000 4/2,0,0,0 1947/APP 1224 NOD, SPAY
R1104644 Pending 3619 152ND ST LAWN $395,000 4/2,0,0,0 1953/ASR 1435 SPAY
P805852 Pending 3222 152ND PL GR $325,000 3/2,0,0,0 1944/ASR 1462 SPAY
12010128 Pending 3238 152ND PL W GR $ 225,000 2/1,0,0,0 1943/ASR 846 SPAY

Below chart shows the recent statistics for the pending sales in El Camino Village. Keep in mind that these are not closed sales and prices only reflect “list” price and not the actual sales price.

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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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