Redondo Beach Real Estate for Sale: 90278 Condo and Townhouse Update

Between September 1st and 15th, 20 townhomes and condos were listed in 90278 per the MLS. (This includes properties that fell out of escrow.) The current listing prices range from a low of $359,000 to a high of $859,000. The median price is $620,000. During the same time period, 14 condos and townhouseswent into escrow and 10 closed. So homes are being listed for sale at a faster pace than they are going into or closing escrow.

Two of the listed condo townhomes are foreclosures (REO) and four are short sales (pre-foreclosure). So, six out of twenty MLS listings are properties in some stage of foreclosure which tracks with our previous foreclosure analysis. Three of the 20 MLS listings are new construction on Grant Av which we will discuss below but expand on in a future blog post. Seven of the current active MLS listings have had price reductions which tracks well with recent statistics published by Zillow. One had an increase (short sale which we will discuss in this blog post). Following are our comments as well as links to find homes of all descriptions in Redondo Beach.

To view the all the condos and townhomes currently available for sale in Redondo Beach, click here.

New Construction Townhomes for Sale

2021 Grant Ave Units A, B, and C. (3 on a lot attached townhouse condos.) This is a new construction project, which we are glad to see, and the units are nice. We absolutely don't get the current pricing which ranges from $639,500 for Unit B to $729,500 for Unit C. Unit A is priced at $689,500 which is consistent with another recent sale of a front facing unit on the north side of Grant. We wish the seller well as anyone who is taking the financial risk of building new construction at this time deserves to be rewarded. The listing Real Estate Agent describes the property as follows: Brand new hilltop townhouse with views! This beautiful home features entry with travertine and marble floors, granite and stone downstairs bath with glass tile accents, wrought iron stair railings, a granite kitchen with stainless steel appliances, alder cabinets with pull-outs, spice drawer & lazy Susan, beautiful hardwood floors, a large deck, and a powder room with granite counter and bead board detailing. The large upstairs Great Room (must be seen!) has fantastic, panoramic views and a large flat screen TV and sound bar ready for your viewing pleasure! Master bedroom features walk-in closet, stone/granite bath and views! This unit features an exclusive use, landscaped back yard. Nice garage storage. Quality construction throughout. Great Neighborhood! Easy access to Beaches, Parks, Shopping, Schools and the Freeway.

Jefferson School District Townhomes

1907 Morgan Lane Unit A, Redondo Beach, CA 90278: This extensively remodeled 2 story Condo - Townhouse in the Jefferson School district is listed for $549,000. It has 3 bedrooms, all upstairs and over sized for the area and heavy use of granite, stainless steel, and wood with extensive custom cabinetry throughout. The property is listed with Shorewood Realtors and the listing agent describes it as follows: Escape the ordinary in this contemporary turnkey townhouse remodel: 3 bedroom, 2 bath, patio, balcony, 2 fireplaces, 2 car garage with storgage. Located in a quiet neighborhood with convenient access to schools, restaurants, entertainment, shopping, freeway access and the beach. The interior is themed with all the colors of a sunset captured in stainless steel, granite, glass and natural light provided by south facing windows on both levels. Downstairs living room w/fireplace, ultra modern kitchen and ample dining area. All three generous sized bedrooms are upstairs. Over sized whirlpool with fireplace integrated into the master bedroom and a unique glassless shower in the bathroom. Ample storage provided by closets and numerous built in units thoughout. Energy efficient lighting including 3 Solatubes providing a shadowless environment in this very personal retreat. Scroll down for a video of this townhouse which you can also view on YouTube by searching 1907 Morgan.

1915 Morgan Lane Unit D, Redondo Beach, CA 90278: This 3 bedroom condo townhouse in a 10 unit complex was listed at $575,000 and as of 9/15/2010 fell out of escrow and was active in the MLS again at $559,000. It had previously been purchased for $445,000 as a probate sale in July of 2010. Many lenders don't have much of a sense of humor about short term flips with over $100K of profit built in and that may have been a problem with the escrow but we are speculating on that. (There have definitely been updates done.) Scroll down for a video which you can also view in YouTube by searching 1915 Morgan Ln.


Short Sale Two Step

2818 Spreckels Lane Unit A, Redondo Beach, CA 90278: Technically, this 4 bedroom attached condo townhouse is not a new listing but realistically it is because has just been remarketed with a new much, higher price. Here's the story. It is short sale (pre-foreclosure) that was initially listed by the agent at $660,000 which was kind of a deal for 4 bedrooms, 2700 sq ft built in 2004 even if it is located as far east as you can go in Redondo Beach before you get to Torrance. So, now the listing agent indicates in the agent notes that the bank has valued it at $775,000 but will take $725,000. Fair enough, except $660,000 was probably the right price and this is not a deal at $725,000 considering that you can get a freestanding townhouse of about 2400 sq ft with front and back yards for about $750,000. (If you are doubtful, use the find homes searches to the right of this page.) Meanwhile, we're guessing that more than one buyer has been waiting on the sidelines for this one at under $700K.

To find other condo townhome short sales for sale in N Redondo Beach, click here.

North Redondo Beach Townhome and Condo Foreclosures for Sale

These two condo townhomes have either been price reduced or listed for sale between 9-1 and 9-15.

2419 Fisk Ln Number A, Redondo Beach, CA 90278: REO foreclosure, 4 bedrooms, 2.5 baths, 1861 sq ft multi level townhouse. The listing agent describes the property as: This wonderful bright and spacious townhome has a formal dining room, family room with cozy fireplace, large kitchen, huge master bedroom with large bath and lots of closets. Large private patio off master bedroom. Lots of potential. Priced at $530,000 which certainly represent value for the size and location.

1916 Mathews Ln Number F, Redondo Beach, CA 90278: REO foreclosure, 2 bedrooms, 1500+ sq ft priced at $474,500. Good price for the location but not a screaming deal. The listing agent descrobes the property as: "Well maintained Redondo Beach Townhome located very close to local beaches. Home is in move in condition. 2 bedrooms 3 baths with attached garage. Home is walking distance to many local shops and minutes away from local Mall."

Find foreclosure homes. To find other REO foreclosures in North Redondo Beach, click here. To search the entire foreclosure list and find homes before they hit the market, follow this link

Nice but Overpriced

1717 Clark Ln Unit A, Redondo Beach, CA 90278: Over 2700 sq ft attached condo townhome built in 2001 in an excellent location. We happen to like this floorplan and there are a number of example in the area. We think this is a great property but would like to see it at a lower price. It is currently active and listed in the MLS for $859,000. As a comparison, we are aware of an older example of a similar floorplan that needed a lot of TLC but sold for under $700K in the Jefferson School District. Even if that one requires a ton of work, and it may, our opinion is 1717 Clark will be seeing a price reduction. Here's what the listing agent says: Bright and spacious, Mediterranean style town home with an open floor plan, high ceilings and lots of skylights that draw in a ton of natural light. Built by La Charite, this home has it all....Beautifully landscaped front yard, private patio, columned entry, formal dining room, fireplace, custom kitchen cabinets, granite counters and stainless steel appliances, custom recessed ceilings, and beautiful travertine and hardwood floors. The winding stairway leads to the upstairs family room: perfect for kids or home theatre system. All four bedrooms are upstairs and have brand new carpet. The oversized master suite has a walk in closet, fireplace that is shared with a huge spa style master bath with a large, Jacuzzi tub and separate, remodeled steam shower. The two car attached garage has extra room for storage. This is a beautifully designed, four bedroom and three bath home in a great northwest Redondo location close to the beach, parks, great restaurants and a terrific school district. We don't disagree - just lower the price.