Redondo Beach Median Home Prices for December 2015

By Keith Kyle

The December numbers are in and if there was any thought that the real estate market in Redondo Beach was leveling the numbers certainly say otherwise.

The average home price in Redondo Beach for the homes that closed escrow during December was $930,840 with a median price of $836,250.  Those are big numbers that still shows no sign of slowing or reversing.   See the chart below for the December home sales numbers for Redondo Beach and the South Bay for December of 2015.

City Homes
Sold
December
2015 Median
December
2014 Median
Year
over Year % Change
Carson  73 $360,000 $365,000 -1.4%
El Segundo 10 $949,000 $735,000 20.2
Gardena 41 $420,000 $385,000 9.1%
Harbor City 15 $483,000 $467,000 9.1%
Hawthorne 35 $508,500 $667,750 -23.8%
Hermosa Beach 24 $1,475,000 $1,360,000 8.5%
Lawndale 13 $420,000 $415,000 1.2%
Lomita 16 $520,000 $490,000 6.1%
Long Beach 339 $456,000 $395,000 15.4%
Manhattan Beach 34 $2,184,000 $1,689,000 29.3%
Marina Del Rey 31 $905,000 $759,000 19.2%
Palos Verdes Estates 29 $1,456,000 $1,150,000 26.7%
Playa Del Rey 17 $605,000 $482,000 25.5%
Rancho Palos Verdes 48 $1,170,000 $1,135,000 3.1%
Redondo Beach 89 $836,250 $770,000 7.3%
San Pedro 72 $517,500 $492,000 5.2%
Torrance 133 $597,000 $562,000 6.3%
Westchester 34 $951,000 $807,500 17.8%
Redondo Beach foreclosures

Only 2 Active Foreclosure Listings in All of Redondo Beach

By Keith KyleRedondo Beach foreclosures

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.

Breakwater Village 55+ condos in Redondo Beach

September 2015 Home Sales in Redondo Beach and Beyond

By Keith Kyle

Redondo Beach saw an impressive number of homes selling in September of 2015 to end the summer selling season with 97 closed escrows.  In addition the median home price in Redondo was $875,000 which shows significant gains in value over the past year.  The market was hot throughout Redondo Beach with homes in both North and South Redondo often selling quickly and with multiple offers.

City Homes
Sold
September
2015 Median
September
2014 Median
Year
over Year % Change
Carson 49 $406,000 $366,000 10.8%
El Segundo 9 $1,045,000 $517,000 76%
Gardena 33 $440,000 365,000 20.5%
Harbor City 18 $514,500 $462,500 11.2%
Hawthorne 27 $513,000 $550,000 -6.7%
Hermosa Beach 20 $1,200,000 $1,020,000 17.7%
Lawndale 13 $450,000 $379,000 18.6%
Lomita 15 $580,000 $570,000 1.8%
Long Beach 390 $435,000 $420,000 3.7%
Manhattan Beach 39 $2,050,000 $2,025,000 1.2%
Marina Del Rey 29 $865,000 $817,000 5.9%
Palos Verdes Estates 35 $1550,000 $1575,000 -1.6%
Playa Del Rey 18 $542,000 $534,000 1.6%
Rancho Palos Verdes 49 $1,040,000 $1,058,000 -1.7%
Redondo Beach 97 $875,000 $790,000 10.8%
San Pedro 69 $442,000 $459,000 -3.6%
Torrance 135 $585,000 $527,00 10.9%
Westchester 26 $908,000 $872,000 4.1%

Big Gains In May 2015 Median Home Prices in the South Bay

By Keith Kyle

May was another huge month in terms of home prices in the South Bay with Hermosa Beach highest on the wow factor with a median price in May of $,1450,00, almost 32% higher than the year before.  Redondo Beach saw major gains as well with 106 homes selling in May with a median home price of over $844,000

City Homes Sold May 2015 Median May 2014 Median Year over Year % Change
Carson 45 $410,000 $376,500 8.9%
El Segundo 14 $803,500 $818,000 -0.8%
Gardena 35 $405,000 $400,000 1.3%
Harbor City 26 $415,000 $382,000 8.6%
Hawthorne 68 $525,00 $487,000 7.9%
Hermosa Beach 23 $1,450,000 $1,102,000 31.6%
Lawndale 12 $431,000 $417,500 3.2%
Lomita 11 $509,000 $575,000 3.5%
Long Beach 362 $433,000 $399,000 8.5%
Manhattan Beach 38 $2,238,750 $2,005,000 11.7%
Marina Del Rey 26 $917,000 $900,000 1.9%
Palos Verdes Estates 37 $1,515,000 $1,430,000 5.9%
Playa Del Rey 24 $615,000 $711,000 -135%
Rancho Palos Verdes 56 $1,100,000 $990,000 11.1%
Redondo Beach 106 $844,500 $722,000 17%
San Pedro 67 $449,250 $425,000 5.7%
Torrance 148 $579,000 $560,000 3.4%
 Westchester 26 $900,000 $797,000 12.9%
Torrance townhomes for sale

Real Estate Explained – 2 on a Lot Townhomes in Redondo Beach

By Keith Kyle

One of the more common types of houses in both north and south Redondo Beach is what we call a two on a lot.  At some point there was either a small home or small duplex on a larger lot.  While the city of Redondo will not allow these lots to be split, they can, depending on zoning, be the sites for multiple unit townhome buildings.  In general the zoning either allows a 3 on a lot townhome or a 2 on a lot townhome.   The appeal to the two on a lot is that it often feels more like a single family than what most think of when they hear townhome or townhouse.  The 2 on a lot can either be attached (usually the shared wall is the garage downstairs and either the master or a patio wall upstairs) or detached with no shared walls and usually a yard separating the two.  Both types of 2 on a lot can be a great alternative to a single family home.  They are usually larger, newer and in better locations than an SFR in the same price range.  In some cases these detached two on a lot have the even better fortune of being on a corner lot giving the two separate townhomes different street addresses and a look and feel of two completely different homes.  Values for 2 on a lot Redondo Beach townhomes have skyrocketed in the past 2 years with new construction detached two on a lots nearing $2.4M.Redondo Beach 2 on a lot townhomes

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

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