Only 2 Active Foreclosure Listings in All of Redondo Beach

By Keith Kyle

The distressed home and foreclosure market was never a major factor in the Beach Cities as the coastal communities were always buffered a bit from the huge price drops after the real estate bubble burst.  Some of the outlying South Bay communities did see a large increase in bank owned homes and short sales but the closer the community was to the ocean, the less impact we tended to see.

That being said there were still a healthy (or unhealthy depending on what side of the process you were involved with) number of distressed homes for several years, but that’s virtually come to a trickle.  From a high of 130 active foreclosure listings back in 2010, which does not include the number of homes in default, to only 2 active foreclosures in Hermosa, Redondo and Manhattan Beach combined.  Hermosa Beach and Manhattan Beach were always very limited in the distressed market with the bulk of the foreclosure listings being in Redondo Beach.

Hermosa Beach Pending Home Sales Reach 5 Year High

Hermosa Beach has long been one of the more sought after coastal communities with demand for homes in the small beach community always high.  Recent market conditions have created an even greater demand as inventory of active home listings has continued to decline while the few homes available quickly go into escrow.  The 31 homes in escrow or “pending” in June of 2013 is the highest number since 2007 and is helping drive prices up as demand continues to soar.

June saw 37 active MLS listings and homes for sale, 31 pending home sales and 18 closed escrows or sold homes. Visit our home sales page to see the homes sold in June 2013 and prices for the sold homes.  According to long time Hermosa Beach resident and top real estate agent Keith Kyle with South Bay Brokers, “This is an almost ideal climate for sellers with the usual summer demand in full effect due to buyers looking for homes in the Hermosa Beach school district, low inventory, historically low interest rates and prices continuing to rise.

Hermosa Beach Sand Section Real Estate Update

The inventory remains low in the sand section of Hermosa Beach with only 5 single family homes on the market in this very sought after area of the South Bay.  The sand section is the area of Hermosa Beach from The Strand (Hermosa’s famous ocean front walk) to the greenbelt located at Valley and Ardmore and offers many homes that have tremendous ocean views and are in close proximity to the beach and downtown Hermosa and Pier Plaza.

[idx-listings community=”Hermosa Beach Sand” statuses=”1″ propertytypes=”516″ orderby=”DateAdded” orderdir=”DESC” count=”5″ showlargerphotos=”true”]

Ahh…The Price of Paradise

I’m often asked just what makes South Bay real estate so expensive?  Well sunsets like this in Manhattan Beach and Hermosa Beach are certainly part of the reason.  Ahh the price of paradise……

 

Just another typical July night in Hermosa Beach.  This is a view north looking towards Manhattan Beach and the Manhattan Beach pier.  Imagine this being your nightly view which is the reality for the ocean front homes of The Strand and Esplanade in Redondo Beach.

ARE YOU INTERESTED

IT'S TIME TO DISCOVER

redondo beach

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

CONTACT AGENT

DRE#01712785

keith kyle

Top Producing Realtor

ENQUIRE

Sotheby's International

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.