While we all need to continue to do our part…..we’re definitely looking forward to getting back to the beach in Redondo
January was a very slow month for the number and volume of home sales in Redondo Beach with only 35 on market home sales. Prices were still very strong with a median list price of $1,099,000 and a median sold price of $1,089,000 indicating that it’s still a very strong market favoring home sellers. The median price per square foot was $577.35 and the median days on market was 34.
|Type||Address||Price||$ Per Foot||Bed/Bath||Sq Feet||Year||Sold Date|
|TWNHS||2503||Vanderbilt LN #2||$630,000||$528.52||3/1,1,0,0||1192/||1979||1/15/2020|
|TWNHS||2209||Grant AVE #B||$995,000||$534.95||4/3,0,0,0||1860/||2016||1/29/2020|
|TWNHS||2213||Dufour AVE #A||$1,175,000||$509.32||3/2,0,1,0||2307/A||1986||1/3/2020|
|SFR/D||110||Via Los Altos||$1,215,000||$1,019.30||2/2,0,0,0||1192/A||1953/ASR||1/30/2020|
|SFR/D||232||Vista Del Parque||$1,590,000||$491.20||4/1,1,1,0||3237/P||1954/PUB||1/3/2020|
|CONDO/A||1916||Mathews AVE #B||$785,000||$508.75||2/1,1,1,0||1543/E||1981/EST||1/24/2020|
|TWNHS/D||1916||Ruhland AVE #A||$1,235,000||$551.83||4/2,0,1,0||2238/A||2001/ASR||1/22/2020|
|CONDO/A||2750||Artesia BLVD #229||$460,000||$534.88||2/2,0,0,0||860/A||2007/PUB||1/10/2020|
|CONDO/A||2750||Artesia BLVD #328||$549,000||$473.28||3/1,1,0,0||1160/A||2007/PUB||1/31/2020|
|TWNHS/A||1904||Rindge LN #B||$715,000||$328.89||3/3,0,0,0||2174/A||1989/ASR||1/17/2020|
|TWNHS/A||1732||Ruxton LN #D||$815,000||$492.15||3/2,0,1,0||1656/A||2000/ASR||1/17/2020|
|TWNHS/D||2206||Carnegie LN #C||$950,000||$625.82||3/2,0,1,0||1518/A||1980/ASR||1/15/2020|
|TWNHS/A||1804||Vanderbilt LN #B||$1,026,000||$600.00||4/3,0,0,0||1710/A||2010/ASR||1/24/2020|
|TWNHS/A||511||Meyer LN #24||$760,000||$519.13||2/2,1,1,0||1464/A||1979/ASR||1/9/2020|
|TWNHS/A||222 S||Guadalupe AVE #5||$1,089,000||$594.76||4/1,1,1,0||1831/A||1986/ASR||1/31/2020|
|SFR/D||520 N||Maria AVE||$1,600,000||$941.18||3/2,0,0,0||1700/A||1950/ASR||1/17/2020|
|TWNHS/D||204 S||Helberta AVE #B||$1,605,000||$638.17||4/3,0,1,0||2515/T||2017/ASR||1/17/2020|
|SFR/D||219 S||Guadalupe AVE||$1,685,000||$592.68||3/2,0,1,0||2843/A||2006/ASR||1/31/2020|
|TWNHS/D||636||Vincent Park #A||$1,700,000||$710.11||3/2,1,1,0||2394/B||2019/BLD||1/31/2020|
|TWNHS/A||1920 S||PCH at One South #114||$1,135,000||$635.85||2/2,0,1,0||1785/B||2019/BLD||1/31/2020|
|TWNHS/D||544||Avenue A #A||$1,875,000||$780.60||4/4,0,1,0||2402/B||2019/BLD||1/8/2020|
|SFR/D||601 S||Gertruda AVE||$2,000,000||$425.53||4/1,2,2,0||4700/O||1990/PUB||1/17/2020|
|CONDO/A||230 S||Catalina AVE #114||$780,000||$577.35||2/2,0,0,0||1351/A||1974/ASR||1/16/2020|
|CONDO/A||110||The Village #204||$830,000||$578.80||2/2,0,0,0||1434/A||1980/ASR||1/6/2020|
By Keith Kyle
In the past two months I’ve had three contingent offers accepted. Not only were the offers accepted but my clients homes were not even on the market yet. I spent much of 2017 submitting contingent offers for these clients only to be rejected time and time again. Often times we were competing against 15-20 other offers and some were all cash….we didn’t have a chance.
So is that changing?
It may just be timing, luck or the right situation, but sellers seem to be considering contingent offers in the current Redondo Beach real estate market. It’s key to submit a VERY strong offer in regards to price and terms, but sellers may be realizing that the buyer’s homes will likely sell fairly quickly.
For those that don’t know what a contingent offer is…..there are many situations in which a home buyer needs to sell their home to have enough money for the down payment and to qualify for the loan. When you submit an offer that requires the buyer to sell their home to make it work…that’s a contingent offer. It adds a whole additional level of uncertainty to the sellers of the home being purchased. No longer is their just a home inspection, appraisal and loan on their house……but likely a home inspection, appraisal, and loan on the buyers sale as well. The uncertainty is the reason most sellers won’t consider it unless it’s the only option.
In a sellers market with multiple offers and high demand, getting a contingent offer accepted is a long shot at best, but maybe the recent wave of acceptances is a sign that things are changing slightly.
By Keith Kyle
I’ve been fortunate to represent a few clients on purchases or sales along Paseo De La Playa in the Hollywood Riviera and the locations is nothing short of spectacular. Paseo De La Playa is the oceanfront street that connects Redondo Beach with the beginning of the Palos Verdes Peninsula and offers a lifestyle not found in many places.
The recent listing of 501 Paseo De La Playa is no exception. This 5 bedroom, 3 1/2 bath home sits high on the bluff and offers mesmerizing views of the ocean, Palos Verdes and the beautiful coastline from Redondo to Malibu.
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As a Redondo Beach realtor who has been doing this a while, I’ve come to expect a nice increase in houses for sale in mid to late January. As the holidays wrap up, football season ends, and everyone gets back to work, we generally see a nice increase in homes that hit the market. It can often set the tone for much of the year as and abundance of homes early in the year often seems to stabilize the market one way or another. Unfortunately 2015 hasn’t seen that increase as the number of active homes for sale continues to go down at a time when the homes for sale should be going up. It’s still early enough that sellers may yet be holding off for a week or two to put their homes on the market and it would be welcome relief for the home buyers sitting and waiting.
The chart below shows the number of homes for sale represented by the light green bar. As of January 29th there are only 88 homes for sale in all of Redondo Beach.
Although the housing inventory has been low in Redondo Beach for almost 2 years now, the market for and ocean view Village condos is almost non-existent. Popular condo complexes such as The Village, the Seascape buildings, and various oceanfront buildings on the Esplanade are nowhere near the normal inventory levels. According to realtor Keith Kyle, “It’s really been months since there’s been anything new. There are currently a few places that have been on the market for some time now, but the few new listings, if priced anywhere near where they should be, disappear quickly.”
“These homes offer the iconic South Bay beach lifestyle and are are highly sought after, often by professionals that travel extensively, local retired or semi-retired people looking for that vacation beach feel, or those priced out of nearby townhomes and single family homes.”
The inventory has continued to drop to nearly a trickle with only 2 condos on the market as of this writing. Both are in the Seascape buildings behind King Harbor and the Redondo Pier area. The homes often offer the real feel of living on vacation as many have great views and some offer terrific amenities.
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(all data current as of 6/3/2020)
Listing information deemed reliable but not guaranteed. Read full disclaimer.