Torrance Short Sales At Lowest Point Since 2007

As a short sale specialist I have tracked the short sale market for years and as Torrance is the largest city in the South Bay, it has been a very good indicator of how much of a factor short sales and bank owned homes have been on the local market.  Short sales first became a factor in mid 2007 with a high point in 2010.  In August of 2010 there were 159 active short sale homes for sale in Torrance.   Those numbers started to decline in April of 2011 and have continued downward to the current level which has seen an average of 4 homes for sale for the past few months.  What was a source of the “deals” sought by buyers is no longer putting downward pressure on the market and has basically ceased to be a factor. View short sale homes for sale on our distressed home site for Torrance and all of the South Bay

Manhattan Beach walkstreet homes

Hermosa and Manhattan Beach Luxury Walkstreet Homes Driving the Market

Hemosa Beach and Manhattan Beach Walkstreet Homes

Prices have jumped considerably in the sand sections of both Hermosa Beach and Manhattan Beach, and much of the reason is the recent flood of the market ofManhattan Beach walkstreet homes very high end luxury homes in A+ locations. Although there are a few oceanfront “Strand” homes for sale, the primary reason for the recent rise in median prices is the number of homes and townhomes on the highly sought after “walkstreet” locations.  The current median price for a Hermosa walkstreet home is $3974,000 and the current average price is $4,447,500.  The current median price for a Manhattan Beach walkstreet home is $3,350,000 and the average price is $4,123,000.

For more information on the Manhattan Beach or Hermosa Beach sand section, or any of these luxury walkstreet properties, please feel free to contact us at 310-251-2344 or keith@keithkylehomes.com.

 

 

 

Are Foreclosure Opportunities a Thing of the Past?

As a short sale listing expert, I’ve tracked the number of foreclosures, meaning both short sales and bank owned homes (REOs) in the South Bay for the past few years. It wasn’t long ago that each month there would be consistently over 100 short sale homes listed in Torrance alone. That certainly isn’t the case any longer. As of April 10th 2013 only 29 short sales were on the market in the cities of Lawndale, Gardena, Manhattan Beach, Redondo, Hermosa, Palos Verdes, El Segundo, San Pedro and Torrance combined.

The chart above shows the number of active short sale listings, pending escrows and sold homes for each month in the cities mentioned above. The light green bar shows the active listings, dark green shows sold homes with the red line showing the pending or “in escrow” homes.

 

Redondo Beac Esplanade

1311 Paseo Del Mar – Oceanfront Home for Sale in San Pedro’s South Shores

**Please note that this home sold and this is an older post**

Beautiful Cape Cod inspired oceanfront home at 13110 Paseo Del Mar in South Shores.  Click here to view all of the ocean front homes in the South Bay cities of Palos Verdes, Manhattan Beach, Hermosa Beach, Redondo and more.

 

 

Oceanfront Condos Abound On the Esplanade in Redondo Beach

If you dream of big ocean views, the sounds of the sea, and living by the beach….Redondo Beach may be an ideal place to consider.  Unlike neighboring Manhattan Beach, Hermosa Beach and Palos Verdes, with oceanfront homes meaning a multi million dollar price tag, Redondo Beach offers a far more affordable way of living at the beach.  Currently there are 6 condos that either offer ocean views or are ocean front in South Redondo.  According to top Redondo Beach realtor Keith Kyle, “Redondo Beach has very different zoning than Manhattan or Hermosa, which allowed for high rise complexes to be built in the 1970s.   This allowed for a much larger number of ocean front and ocean view homes which has kept prices far more affordable.  Below is a list of the current condos located in The Village, Seascape and the various buildings along the Esplanade, Redondo’s oceanfront street.

Take a tour of some of the buildings mentioned above and get a better sense of your oceanfront condo opportunities.

 

Gated community of Fusion South Bay

Fusion and 360 South Bay Hot Real Estate Markets

With inventory continuing to decline the condo and townhome markets in the Hollyglen communities of 360 South Bay and Fusion South Bay have continued their torrid pace.  Both complexes are located along Aviation Blvd in the area of Hawthorne known as Hollyglen.  Fusion South Bay was completed in 2007 and 360 South Bay began releasing units in the past 2 years, so both offer a very affordable way of getting new or newer construction in the area which is very rare in the South Bay.  According to Manhattan Beach realtor Keith Kyle “many home buyers in the area often start their search looking for homes in Redondo Beach and find that in the mid $400K -$550K range what they can afford is much older and smaller.  Fusion and 360 offer a similar location, great schools and a much lower price point.  Simply put you get much more for your money.”

The market has been very active with 8 resale units currently in escrow.  360 is still currently releasing new construction units and most are not on the MLS so there are a number of additional sales not noted below.  As of March 13th there are no active condos or townhomes for sale in Fusion but click below for the latest list of homes for sale as it’s continually updated.

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Vista Sotheby's International

Vista Sotheby’s International Realty is one of the top real estate brokerages in the South Bay and Southern California with offices in Redondo Beach and throughout the South Bay

ADDRESS:

1801 S Catalina Ave, Redondo Beach, CA 90277

Phone:

310.251.2344

E-mail:

keith.kyle@vistasir.com

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keith kyle

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Welcome to Sotheby's International Realty representing buyers and sellers of fine South Bay and Southern California properties

Redondo Beach Real Estate & Homes. All rights reserved. Information deemed reliable but not guaranteed

Keith Kyle – Licensed Realtor – Vista Sothebys International Realty – DRE#01712785

The listing information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us), we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and cannot be verified by Sotheby’s International Realty Affiliates LLC. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. Sotheby’s International Realty ® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission.