Low Inventory and Multiple Offers Persist
Real "net-new" listings 5. Change of MLS status to "backup", "pending" or "sold" 21 properties. Wow, basically 4X going off the market than coming back on (not including cancelled escrows and price drops). If you are a buyer, expect that any correctly priced listing will receive multiple offers and be prepared to pay list price or more (sorry). Put your best foot forward on your offers. Redondo Beach home sellers and listing agents know what is going on in the market right now.
Here's some of our favorite MLS activity.
Hermosa Beach address. The property has been reduced from its original list price to $1,095,000 which puts it at $413 a square foot for relatively new construction. MLS area 154 Golden Hills. View pictures of 1612 Speyer.
Mid-Century Modern A-Frame home. Probably only four like this in the South Bay which makes it very unique. Home sits on a slight knoll directly across from Fulton Playfield. Neighborhood consist of several cul-de-sac streets so it is pretty quiet. The 1825 sq ft single family residence has 3 bedrooms, 3 full baths plus a den or 4th bedroom. New interior and exterior paint. New granite countertops in bathrooms plus new fixtures. City light view from northwest bedroom. Back on the market with a price reduction after a cancelled escrow, this home is listed for $695,000. Click here for the listing.
Buyers, here's what you should be focusing on right now. There are currently only 45 North Redondo Beach homes for sale but over the past 30 days 39 Redondo Beach homes actually sold (closed escrow). MLS backup and pending status is another 50 homes. This is a staggering under supply of inventory.
By comparison, there are 58 South Redondo Beach MLS listings, 46 Hermosa Beach homes for sale and 62 Manhattan Beach MLS Listings. Be patient.