Is $1.2M the New Normal for New Construction 2 on a Lot Redondo Townhomes?

By Keith Kyle

Two new Amir Amiri townhomes hit the market this week in North Redondo Beach at a fairly incredible $1,200,000 price tag.  It wasn’t long ago that we were fairly amazed to see these North Redondo Beach new construction detached townhomes near the $1.0M mark but that sounds like a bargain just 18 months later.  The most recent closed sales priced at $1.050M with the latest listings priced at $1.2M.  These two on a lot townhomes n both North and South Redondo have continually increased in value over the past 2 years and has created high demand from builders for larger lots with smaller or tear down type homes.

Is $1.0M the New Price Point For New Construction Townhomes?

By Keith Kyle

With prices rising rapidly in North Redondo Beach, the bar has now apparently been set for new construction 2 on a lot townhomes.  With the recent sales of all 4 units at 2016 and 2018 Gates, all priced at $999,000 the pricing for new construction 4 bedroom townhomes appears to be something unheard of in the past for this neighborhood.  The homes are certainly well done with high end finishes, square footage between 2400 and 2500 square feet, and each having small yards but the general consensus is that hitting the $1.0M price is a very big number for North Redondo townhomes.  Known in the area as “2 on a lot” townhomes they feel more like single family homes than townhomes.  They are completely detached, have direct garage access and private yards.   The property is shared among the 2 owners that comprise of the HOA.  In most cases the agreement between owners is pretty informal and often only insurance and landscaping are shared costs.  Contact us for information on these wonderful alternatives to single family homes or fill in our free listing update form to receive new listings daily.  See below for all of the 2013/14 sales of these 2 on a lot new construction townhomes.

Pending 2018 Gates AV #A  $            999,000 4/3,0,1,0 2508
Pending 2016 Gates AV #B  $            999,000 4/3,0,1,0 2400
Pending 2322 Carnegie LN   $            849,000 4/3,0,0,0 2126
Pending 2016 Gates AV #A  $            999,000 4/4,0,1,0 2400
Pending 1702 Phelan LN   $            819,000 4/2,1,1,0 2110
Sold 2018 Gates AV #B  $            999,000 4/3,0,1,0 2508
Sold 2017 Huntington LN #B  $            984,000 4/3,0,1,0 2612
Sold 2017 Huntington LN #A  $            992,000 4/3,0,1,0 2612

 

Upcoming New Construction in Hermosa Beach

Recent news has shown that builder confidence is up and that new construction starts is at a multi-year high. That’s not anything new for Hermosa Beach. A quick drive through the Hermosa Beach sand section makes it clear that builders are most definitely building. According to South Bay realtor and Hermosa Beach resident Keith Kyle with South Bay Brokers, “it’s hard not to notice the abundance of projects underway. In some areas there are 3 or 4 new homes being built on the same street. The market has always remained strong during the downturn, but the amount of builders buying older homes shows that confidence in the Hermosa Beach real estate market is very high.”  Much of the new construction is for owner users, but more and more spec projects are taking place as well. Below are some of the projects underway in Hermosa Beach. Prices on most are, as yet, undetermined but many do have some pricing information available. Beyond simply having a new home, the advantage to purchasing new construction when the project is underway is that buyers can often work with the builders in choosing finishes and truly make for a custom home.

2434 Hermosa Ave Single Family
2459 Myrtle Single Family
108 35th Street Single Family
2850 El Oeste Single Family
2418 Myrtle Single Family
504-512 25th Street 2 Single Family or 4 Townhomes
345 33rd Street Single Family
1400 Block Monterey 3 Townhomes
1100 Block Cypress 3 Townhomes
162 Monterey 2 Townhomes
100 Block of Manhattan
Ave
2 Townhomes
1500 Manhattan Ave 2 Townhomes
1515 Manhattan Ave 2 Townhomes
2052 Manhattan Ave Single Family
1160 Cypress 2 Townhomes
533 11th Street 3 Townhomes
1600 Golden 2 Townhomes
1200 Block 9th Street 2 Single Family Homes

No Shortage of New Construction in Hermosa Beach CA

Well it looks like we’re back to a building boom with hardly a block in Hermosa Beach that doesn’t have some type of construction happening. The new construction is focused primarily in the highest value areas of the sand section with multiple new oceanfront homes being built on The Strand with other notable builds taking advantage of ocean view and ocean close lots. With land at such a premium in Hermosa it no surprise that when values rise in the luxury home market the builders start actively seeking lots.

Homes in Hermosa Beach

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