Tag: redondo beach
Redondo Housing Inventory Stays Low…So Where are the New Listings?
By Keith Kyle
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.
Where Have all the Ocean Front and Ocean View Condos Gone?
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.
Redondo Beach September 2014 Home Prices
The real estate market continued to show strong numbers in Redondo Beach CA with 88 home sales and a median home price of $785,000. Housing inventory remained low and demand continued to be strong in Redondo.
| City | Homes Sold |
September 2014 Median |
September 2013 Median |
Year over Year % Change |
| Carson | 38 | $363,000 | $360,000 | 0.83% |
| El Segundo | 9 | $526,250 | $730,000 | -27.91% |
| Gardena | 34 | $365,000 | $352,500 | 3.55% |
| Harbor City | 13 | $465,000 | $375,000 | 24.00% |
| Hawthorne | 35 | $495,000 | $473,500 | 4.54% |
| Hermosa Beach | 17 | $1,020,000 | $1,032,500 | -1.21% |
| Lawndale | $400,000 | $432,500 | -7.51% | |
| Lomita | 8 | $522,750 | $430,000 | 21.57% |
| Long Beach | 314 | $420,000 | $388,500 | 8.11% |
| Manhattan Beach | 32 | $1,950,000 | $1,675,000 | 16.42% |
| Marina Del Rey | 31 | $797,000 | $848,000 | <-6.01% |
| Palos Verdes Estates | 34 | $1,575,000 | $1,306,000 | 20.60% |
| Playa Del Rey | 24 | $534,050 | $467,000 | 14.36% |
| Rancho Palos Verdes | 51 | $1,038,000 | $1,053,000 | -1.42% |
| Redondo Beach | 88 | $785,000 | $750,000 | 4.67% |
| San Pedro | 56 | $448,250 | $430,000 | 4.24% |
| Torrance | 117 | $530,000 | $525,000 | 0.95% |
| Westchester | 34 | $869,000 | $724,000 | 20.03% |
Price Reductions Making this Oceanfront Esplanade Home for Sale Intriguing
The home located at 709 Esplanade hasn’t been one of the easiest homes to sell, despite the fact that it sits oceanfront with unbelievable views from Palos Verdes to Malibu. It’s a home with some challenges and will require a buyer with some vision, and some money to do a fairly sizable remodel. It’s been listed by a number of realtors and has come down from the hyper inflated $10,000,000 that it started at in 2012. It’s a fairly palacial home by any South Bay standards with the sellers claim that it’s over 9000 feet. Unfortunately it’s a classic example of an owner with very specific tastes that doesn’t appeal to the masses. The owner clearly liked the color pink (or salmon we’re not sure) and tile. Just about every surface in the home is a pinkish tile and some of the features are a challenge for most luxury home buyers…..pink frog fountains, pinkish kitchen, etc. In general our opinion is that the home will need a total overhaul, but at it’s current price it is starting to be a very enticing option for the homeowner that wants it all. Contact us or call/text 310-251-2344 for more information.
Happy Halloween from Redondo Beach Real Estate
We hope that you and yours have a safe and happy Halloween weekend. Halloween in the Beach Cities and South Bay is ideal with some great family friendly neighborhoods and perfect places to take the little ones to trick or treat. The walkstreets of Hermosa Beach and Manhattan offer the best locations as they’re always lively and no cars! Have fun.