**Please note that this post is from 2013 and the market and home prices have changed dramatically since then**
I have a number of buyers looking in Redondo Beach for a single family home under $750,000. Normally that’s not too difficult to find and it’s more a question of specific location, or style, etc. The problem now is that single family homes in this price range, which would be considered “starter homes” in Redondo, can be difficult, if not impossible, to find. It hasn’t been easy lately to explain to buyers (many of whom start the search in Hermosa Beach but find themselves priced out) that there just are no homes to buy. The chart below paints a pretty bleak inventory picture with almost nothing to buy, and the few that are priced below $750,000 are not at all what they are looking for.
The chart below shows all single family homes for sale, pending and sold in the $750,000 and under price range in Redondo Beach. The teal line represents the active homes for sale in Redondo Beach and it’s pretty clear that there are few, if any, real opportunities. According to Redondo Beach realtor Keith Kyle, “until sellers decide that this is an optimal time to list their homes for sale, this trend of low inventory and high demand will continue.”