Redondo Beach Real Estate Sales April 2012: MLS Data, Trends, and Home Prices

April was the transition month for North Redondo Beach Real Estate where, for the most part, we went from a Buyer's market to a Seller's market. Whichever side of the equation you are on, the obvious question is "What Happened?" Here's your answer. As you can see below, inventory has come way down, sales are fairly consistent and the number of properties going into escrow has gone up.



Fundamentally, demand is outstripping supply. Whether it's the persistence of low interest rates, increasing confidence in the housing market, the high cost of renting, or just a seasonal boom, there are more ready, willing, and qualified buyers than we've seen in years looking at homes for sale. And, it's across all price ranges and housing types including condominiums, townhouses, single family houses, or investment property. Multiple offers are back and you can expect any well priced desirable listing to sell quickly. The demand for bank owned REO foreclosures or short sales is huge and even if you are a standard equity seller, now is the time to list.

MLS AREA 151 - VILLAS NORTH

MLS Area 151 includes the homes north of Artesia Blvd and South of Manhattan Beach Blvd bounded by Aviation Blvd to the west and Inglewood Blvd to the east. You can think of it as "East-East Manhattan Beach". This area saw the greatest home sales activity with all types of homes closing escrow in a broad price range from $408,900 up to $874,000. Almost half of the homes sold at or above list price. There were three single family houses sold and the balance were townhouses and condos. Of the townhomes and condos, four were detached and the balance were attached properties. The three lowest priced homes were short sales. There was one bank owned REO and one Probate sale. Two of  the detached two on a lot townhomes were new construction.





MLS AREA 152 - VILLAS SOUTH

North Redondo Beach MLS Area 152 is found south of Artesia Blvd down to Ripley and 190th and bound by Aviation Blvd to the west and Inglewood Blvd to the east. It includes parts of the Jefferson School District, Birney, and Washington. Typical real estate are single family houses of all ages, sizes and prices, 2 and three on a lot attached and detached townhouses, and some older 4-7 unit condo buildings.  During April 2012, there were 14 sales ranging in price from $367,205 for a middle unit reverse floorplan 3 on a lot short sale townhouse on Grant up to a high of $860,000 for a new construction detached townhouse on Marshallfield. While it is rare to find any "Tall and Skinnys" in this area, there are a few particularly closer to the western edge around Grant and Rockefeller near Aviation. of the 15 April Sales there was only one single family house. There were two short sales and one bank owned REO Foreclosure. Two of the detached townhouses sold on Marshallfield were new construction and there was a resale on Grant of  an attached 2010 built townhouse.





































AREA 153 - EL NIDO

This is the neighborhood south of Ripley to 190th and east and west of Inglewood Blvd. It is comprised primarily single family houses ranging in age from 1950's tract construction (and older) up to brand new mansions on 7500 sq ft lots. There are a number of townhouse complexes primarily on Meyer and a few 3 on a lots here and there.

During April there were  7 sales of which all but one were single family houses. Curiously, the most expensive was a 5 bedroom 3636 sq ft short sale that sold for  $865,000 which is $238 sq ft. Considering that the house was built in 2000, we consider that a killer deal.


 AREA 154 - GOLDEN HILLS

This is the neighborhood south of Artesia and west of Aviation that is directly across the street from Mira Costa High School in Manhattan Beach. It is mostly single family houses that are referred to as "Tall and Skinnys" which may measure up to about 1900 sq ft (or larger in some instances) and that sit of 2500 sq ft lots. There were only two sales in April. Both were single family houses. One was a short sale and one was a bank owned REO foreclosure.




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