Increased inventory slowing the market for high end Hollywood Riviera homes

By Keith Kyle340_Via_Colusa_master1 copy

A noticeable increase in number of homes for sale at $1,500,000 and above has seemed to put the brakes on a very hot real estate market in the Hollywood Riviera.  The buying public had been clamoring for more homes on the market and now that they’ve arrived, it seems they’re not selling.  The $1,100,000-$1,400,000 price point is still extremely active, but the increased inventory of high end homes has definitely slowed the market.  Certain homes such as the recent listing at 225 Via Alameda which sold with multiple offers right from the start, are the exception at the moment and not the rule.  It’s not uncommon to see these higher price point homes sitting on the market for months which is a distinct difference from some other high end areas in the South Bay.  The chart below shows the number of active, pending and sold homes by month for homes priced over $1,500,000 and clearly indicates almost double the number of homes for sale while pending and sold listings are down.

Hollywood-Riviera-Luxury-Homes

 

Current Hollywood Riviera homes priced over $1,500,000

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A Number of Condos Listings Hit the Market in Seascape One Redondo Beach

By Keith KyleSeascape-1-Pool

There’s been a definite lack of inventory in the world of ocean view and ocean front condos in Redondo Beach over the past 18 months.  Prices have risen dramatically as inventory dipped to record lows and demand for the “vacation” style feel of complexes such as the Seascape buildings, The Village and condos on the Esplanade have continued to grow.  At least in one complex there’s been a higher than usual Seascape One Redondo Ocean View Condosnumber of homes coming on the market in recent days.  Seascape One is located in the 200 block buildings of The Village (which is unusual in itself as it’s actually on Catalina).  As of July 18th there are 3 units for sale in Seascape One.  Of the 3 2 offer a interior garden view (this is the only Seascape or Village building offering interior facing units) and one offers some pretty significant ocean and harbor views.  Built in 1978 the condos are fairly ideally located just behind King Harbor and walkable to the pier, the beach, and the shops and restaurants of the King Harbor area.

Current Seascape One Condos for Sale

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

By Keith KyleRedondo Beach townhomes

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.

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(all data current as of 6/3/2020)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

El Camino Village a Great Alternative For South Bay Home Buyers

By Keith KyleExterior-2

For many home buyers searching in Redondo Beach and Torrance, finding a single family home in their price range is often not possible.  An alternative to these more expensive areas is a small community locally known as El Camino Village, located near the El Camino City College.  The community name is somewhat made up as it actually consists of 2 different cities, Lawndale and Gardena, but has helped create a nice community feel not shared with some other areas of the same cities.  El Camino Village is a bordered by Prairie to the west, Marine to the north, Manhattan Beach Blvd to the south and Crenshaw to the east.

What makes the area fairly unique is that zoning only allows for single family homes and with elementary schools located within walking distance, the area has a very nice look and feel.  The Lawndale and Gardena neighborhoods do not actually connect and are divided by an aquaduct with the Lawndale side having a bit more of a uniform feel and home values being slightly higher.

Home prices have risen rapidly in 2014 with the smaller 3 bed/1 bath homes starting in the low to mid $400’s and larger or upgraded homes quickly reaching into the mid $500’s.

Current El Camino Village and Bodger Park Homes for Sale

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Finally a new Listing In Fusion South Bay

It’s been a while since there was a home for sale in Fusion in the South Bay, the gated townhome community in the Hollyglen area of Hawthorne. Fusion-South-Bay Ideally located just east of Manhattan Beach, it’s is a fantastic alternative to Redondo, Manhattan and El Segundo.  Prices would be exponentially higher if it were located just across the street, but the location still offers residents easy access to the active South Bay lifestyle with the beach, dining, shopping and more close by.

The current unit for sale is a “C” floorplan (see our video walkthrough of a different Fusion C townhome for a sense of the layout) which offers a very open kitchen/dining/living room areas with 2 bedrooms and laundry upstairs. The C floorplan also offers a 2 car attached garage.  The ammenities of the complex include pool and spa, small playground, half basketball court and various exercise stations.

Located at 5406 W 149th Place unit #18, (see Fusion South Bay map) it is priced at $499,000 which, in our opinion, is low and would be a good deal for the buyer that purchases the home.  Square footage is listed as 1,110 by listing agent Young Kim of Landmark, but in our experience the square footage is actually larger when measured.

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