Redondo Beach Home Sales On A Blistering Pace

North Redondo Beach Real Estate continues on a torrid pace as available homes for sale sell faster than new inventory is placed on the market. Due to extremely low interest rates and increasing rental prices, buyer demand is simply over powering the availability of new listings.

During October of 2012, 50 North Redondo Beach homes closed escrow (as reported through the MLS). Of those homes sold, 14 were located in MLS Area 151 (North of Artesia Blvd and East of Aviation), 22 properties were located in MLS Area 152  (South of Artesia Blvd), 3 in El Nido, MLS Area 153, and 11 in Golden Hills (MLS Area 154).

Of the homes sold in North Redondo Beach during October, 7 were short sales and the balance were standard sales. This tracks fairly consistently with recent short sale data at about 15% of closed N Redondo Beach property sales. There were no probate sales or bank owned REO Foreclosures sold.

Single family houses comprised 21 of the sales and the remaining 29 were attached and detached condos and townhouses. Home prices ranged from $267,000 for a condo on Artesia Blvd to a high of $1,175,000 for a 6 bedroom 4843 sq ft single family residence built in 2001 which was curiously a short sale and apparently a good deal. Three of the sales were new construction.

The median home sale price was $564,500. Here's some other statistics for your review.
By comparison during October there were 34 home sales in South Redondo Beach 90277, 32 property sales in Manhattan Beach 90266, and 16 sales in Hermosa Beach 90254 (which was a strong month for Hermosa). Typically, South Redondo Beach and Manhattan Beach Real Estate sell at about the same pace with Hermosa logging the fewest sales in the Beach Cities.