2023 Year in Review – Redondo Beach Home Sales & Home Prices
Redondo Beach Real Estate Market - 2023 By the Numbers
Historically it was a somewhat slower year for home sales in Redondo Beach with a total of 565 homes selling during the year. The lower number of sales was not due to a lack of demand, but a lack of inventory as there were fewer listings than in years past. We believe much of the slow down was due to higher interest rates, but not for the obvious reason. There were fewer homeowners willing to sell their home in order to upsize, downsize or relocate as that would likely mean a big jump in rate and monthly payments. When you have a current interest rate, as many due, in the 4s, 3s and even the 2%s it’s hard to consider selling and buying at 7%.
That said prices were impressive and the number of homes sold still made for a solid year.
North Redondo Beach 90278
- Number of homes sold: 289
- Average asking price: $1,434,346
- Average sold price: $1,435,968
- Median asking price: $1,350,000
- Median sold price: $1,365,000
- Average price per sq foot: $816
- Averge days on market: 42
- Median days on market: 14
South Redondo Beach 90277
- Number of homes sold: 219
- Average asking price: $1,543,323
- Average sold price: $1,542,338
- Median asking price: $1,395,000
- Median sold price: $1,400,000
- Average price per sq foot: $924
- Averge days on market: 32
- Median days on market: 13
The highest priced home sale in south Redondo (not including the Hollywood Riviera that saw the oceanfront home at 417 Paseo De La Playa sell for $17,500,000) was another oceanfront home at 709 Esplanade that sold for $10,825,000 in August…..which happens to be back for sale just months later at $11,900,000. See the active listing for 709 Esplanade Redondo Beach, CA.
The highest priced home that sold in north Redondo was a new construction single family home at 2403 Ralston Lane, Redondo Beach, CA 90278 that sold for $3,950,000 back in September.
