Inventory, Home Sales, Pendings and Prices All Rising in Golden Hills of Redondo Beach

Unlike the adjacent neighborhoods of Manhattan and Hermosa Beach, the real estate market in the Golden Hills of Redondo Beach, just east of Hermosa has been somewhat unique in recent months.  Everything seems to be on the rise with the number of active homes for sale increasing, sales increasing, pending home sales increasing and prices on the rise.  The area is home to a rather unique type of single family home known as a “tall and skinny” in the local real estate world.  With lots dimensions at 25 x 100 and minimal setback requirements, most homes are only separated by 5 feet and is something not seen in many other neighborhoods. Read more about the pros and cons of Golden Hills Real Estate.  According to Redondo Beach real estate specialist Keith Kyle, “we’re seeing homes selling over list price, with multiple offers on a fairly regular basis and prices have rebounded considerably in 2013.”

Real Estate Statistics and Trends for The Golden Hills in Redondo Beach

The report above shows the recent housing activity, including active homes for sale (light green), pending home sales (red line) , and closed home sales (dark green).

The chart above shows the average price per square foot in the Golden Hills

The chart above shows the average days on market as well as the % of sale price compared with the list price

The chart above shows the median home prices (light blue) as well as average list prices and average sold prices

So What’s All The Hype about “Off Market” Redondo Beach Listings These Days?

With the local real estate market so active, home inventory at near record lows and buyers in a frenzy to find homes, the buzz is all about “off market” listings.  So what does that really mean and how can it benefit you?  Off market listings can mean a number of different things which can include:

  • Exclusive listings – This is a situation in which a realtor has a signed listing agreement but the seller doesn’t want it on the MLS for some reason.  This can sometimes be due to the home having tenants, can be due to sellers simply not wanting to go through the hassles of open houses, endless showings, etc.  This usually will get the seller a lower sales price, but for many it’s well worth it.  It’s great for home buyers to know about these listings as the competition can be far less fierce.  Less competition can often mean better price and terms for the buyer
  • Upcoming listings – sometimes a home will be coming up for sale but just not listed yet.  The usual reason is that the seller is getting it ready for the market.  This can mean anything from doing major work/upgrading to simply cleaning it up.  If you can get in early before the seller has spent money there is an opportunity to buy at a lower price.
  • Pocket listings – this is a situation in which someone (usually a realtor) knows of someone that “might” consider selling.  As they usually do not have a listing agreement signed it’s tough to get much information from them.  Agents often contact me with pocket listings and may give a street or a vague description but often not an actual address.

There are other opportunities as well with some sellers taking a “make me move” type approach in which the right price just may get them to consider selling.  Other potential opportunities may include knowing which homes have a notice of default or notice of trustee’s sale, and they may consider doing a short sale (although most lenders require the home to be “on the market” for them to consider)

So how do you find out about off market listings?  The best way is to find a local realtor that spends time networking with other agents and homeowners.  Intimate market knowledge is critical as many top agents share listing information prior to it going on the MLS or being marketed to the masses.  I generally hear of 10 listings or so each week that are off market or not yet listed and this can be a tremendous advantage in a market that is so competitive.  Contact South Bay realtor Keith Kyle for information on off market listings and homes not yet on the MLS.

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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

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1801 S Catalina Ave, Redondo Beach, CA 90277

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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.