Redondo Beach Home Sales - February 2010

During February, there were 44 closed sales reported through the MLS for Redondo Beach.
The lowest priced property was at "The Montecito" and was a 1 bedroom, 1 bath condo. (The Montecito is a 55+ only new construction project at 2001 Artesia Blvd.) The highest priced sale was a SFR at 536 Paseo de la Playa in the Hollywood Riviera. The property was a 2500 sq ft 3 bedroom and went for $1,495,000. Another similar sized home located at 910 Calle Miramar went for $1,360,000. Single Family Residences accounted for 17 of the 44 sales.  Four REOs and three short sales closed escrow. (If you want to search for bank owned properties, pre-foreclosures, and short sales, try this URL: http://tinyurl.com/search4closures.)

Previously, we had reviewed the "Amir Amiri" new construction on Irena in South Redondo. Two of those units closed escrow during February. One unit sold for $850,000 and another for $1,000,000. The difference was that the lower price bought a detached middle unit and $150,000 more got 300 extra sq ft and a small backyard.

We thought that one of the best deals for the month was the REO at 1804 Rindge which went for $386,500 (initially listed at $349,000). The property was a 3/1 SFR that needed a lot of TLC. But still, you are talking about land value. The buyer was ALL CASH.