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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.

 

 

 

in Communities, Hermosa Beach, Manhattan Beach, Market Trends, South Redondo Beach Posted by Keith Kyle
Oceanfront homes in the Hollywood Riviera

Manhattan Beach Hill Section – Luxury Homes Market Update

For luxury home buyers wanting it all, the hill section of Manhattan Beach may be the ideal location to call home.  According to Keith Kyle, top realtor with Vista Sotheby’s International Realty, “Manhattan Beach hill section real estate offers something that the sand section doesn’t….space.  While the goal for many home buyers is to live near the ocean and ideally have views of the ocean, the lots sizes closest to the ocean doesn’t allow for much, if any, outdoor space.  By comparison the lots in the hill section are often far larger, offering luxury home buyers tremendous ocean views, while still allowing for a large home and a large yard.”

Currently there are 7 active homes for sale ranging from just under a millon dollars on the city side of the area, to just under $9.0M for a spectular home on the ocean side.

Current Manhattan Beach Hill Section Homes for Sale

in Communities, Homes of Note, Manhattan Beach, Manhattan Beach Hill Section Posted by Keith Kyle

And then there were two…..short sales a thing of the past in Manhattan and Hermosa?

With the low inventory and high demand, the few short sales that appear on the market don’t seem to last long.  We’ve tracked the Manhattan Beach and Hermosa Beach short sale and foreclosure market for the past few years and we are now at a several year low with only two “distressed” sales currently active on the South Bay MLS.  In recent months the few short sales and foreclosures in these areas are generally pricing and selling closer to market value.  Below are the two current foreclosures, one each in Manhattan Beach and Hermosa Beach.  The condo in Hermosa Beach is located in the condo/hotel The Beach House Hermosa Beach and is unusual due to it’s condo/hotel aspect which only allows owners to stay a total of 90 days a year.  This challenge makes financing almost impossible which is partially responsible for the past and current short sale situation.  The other is located in the El Porto area of the Manhattan Beach sand section.

Keith Kyle is a licensed Realtor, short sale specialist and Top Producing agent with Vista Sotheby’s International in Manhattan Beach.  He serves his clients throughout the South Bay and his websites KeithKyleHomes.com, Redondo Beach Real Estate , Torrance Real Estate, Manhattan Beach Luxury Real Estate offer the most comprehensive real estate destinations in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more.  Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com.

 

in Communities, Foreclosures, Hermosa Beach, Manhattan Beach Posted by Keith Kyle

Oceanfront Penthouse on the Esplanade in Redondo Beach

Although this home has seemingly been on the market with little flexibility on the part of the sellers in terms of viewing the home or price, it’s still certainly worth mentioning as this is such a unique property.  Located in the Ocean Plaza building, most condos are on the side of the building with nice views, but nothing like this.  Contact Redondo Beach realtor, Keith Kyle, for more information.

[idx-listing mlsnumber=”V10040181″ showall=”true”]

in Condominiums, Featured Properties, Homes of Note, Oceanfront Homes, South Redondo Beach Posted by Keith Kyle

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
in Communities, Hermosa Beach, Homes, Market Trends, Oceanfront Homes Posted by Keith Kyle

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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

CONTACT AGENT

DRE#01712785

keith kyle

Top Producing Realtor

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

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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.