New MLS Listings in Redondo Beach CA Week of 4.22.2013

Over the past 4 days, 28 homes have been listed for sale in Redondo Beach. Of those, 13 are in North Redondo Beach CA, 90278 and 15 are in South Redondo Beach 90277. This post will discuss the homes for sale in North Redondo and you can visit for South Redondo Beach.

Whether we are seeing a better flow of inventory because sellers see prices going up and want to cash out, or it is just a function of the what is historically the busiest selling season in real estate is unclear. Either way, the availability of newly listed homes is unlikely to be able to satisfy all the buyers in the market or do much to stop prices from continuing to run up.

Regarding the new listings, there are 6 single family residences (SFRs) and the balance are attached and detached townhomes (condos). Only one property was in MLS Area 151, Villas North (North of Artesia Blvd) and that property is a 3 on a lot townhouse. MLS Area 152 had, of course, the most activity with 7 new listings. That should not be surprising because Villas South is by far the most affordable (for the most part) neighborhood in the most affordable Beach City.

There were four new listings in Golden Hills (MLS Area 154) and one in El Nido (MLS Area 153(.

I'm not going to discuss every new listing here, just the ones that got my attention for one reason or another.

2519 Ruhland Av Unit C, Redondo Beach CA, 90278: MLS 13666839PS There hasn't been a 3 bedroom C Unit for sale in a few months. Curiously, this rear unit 3 on a lot townhouse is in Area 151, not 152 where many more were built. I previewed this home earlier this week and it is very nice. Featuring the standard 3 bedroom reverse floorplan, 2 bedrooms down, with the living room, kitchen, master bedroom and dining room upstairs, this home offers a larger than usual kitchen for a 3 on a lot townhome, an extra terrace off the dining room that is perfect for a barbeque grill. The master bedroom has a larger than usual bathroom and walk in closet. Of course there's the standard terrace off the living room and a backyard. The backyard is what makes these units so desirable. Access to the backyard is through doors in the 2 downstairs bedrooms. Considering what other 3 on a lots are selling for, I find this one very reasonably priced at $625,000 and anticipate that it will sell for more.

2514 Vanderbilt Lane Unit B MLS SB13074229 which is the 4 bedroom 3 on a lot townhouse floorplan also was listed this week by South Bay Brokers. That unit is priced at $615,000 which makes sense in that 2607 Grant Unit C with the same floorplan was listed last week for $629K and is already in escrow.

The onslaught of detached 4 bedroom Townhomes continues and is picking up steam and price. Two that caught my attention this week are in the Jefferson Elementary School district and both are relatively new.

1814 Belmont Ln Unit B, Redondo Beach CA, 90278: MLS  SB13072793 offers my favorite 2 on a lot 4 bedroom floorplan with the bonus area upstairs amidst the 4 large bedrooms. This unit is priced at $859,000 which, considering the location, is excellent value. I would be surprised if it did not receive multiple offers quickly.

1910 Marshallfield Ln Unit B, Redondo Beach, CA 90278: MLS SB13074728 offers something different in a 4 bedroom townhouse. This unit, as well as the other 3 built at the same time on this and the adjoining lot offer unique, non cookie cutter floor plans. What I like about this property, in addition to the great location, is that it offers a roof top deck (rare in North Redondo) as well as a loft area adjacent to the deck. Perfect for work at home, exercise, or whatever (meditation?). This unit is 100 sq ft larger than 1814 Belmont, so at about $375 sq ft there's your price differential more or less.

A quick word about price per square foot. As recently as a year ago, I was advising North Redondo buyers that if they could get a property for townhouse under $300 a sq ft, that was pretty good. You can throw that out the window at this point. The "new normal" for North Redondo Beach pricing is about $365 sq ft for townhomes built in the late '80's with some updates and in good (not original) condition. Newer construction, such as these 2 units will be priced at $375 sq ft and above. To that, you can add some more value for location (Jefferson Elementary) and the fact that they are detached. SFR homes are priced differently.

1738 Spreckels Ln, Redondo Beach CA, 90278: MLS SB13072448 is your classic Golden Hills Tall and Skinny built in 2001. This single family house has your standard reverse floor plan witht he living room, dining room, kitchen, and master bedroom upstairs and 2 bedrooms downstairs. One bedroom leads outdoors to the small backyard. 1900 sq ft on a 2500 sq ft lot. List price is $859,000.

Golden Hills Tall and Skinny pricing seems to have settled into 2 buckets: around $750K for the 1970-1980's homes and $850K or more for the newer properties. Of course, views, larger living areas, roof decks, downstairs bonus rooms and other factors can greatly pricing. Also listed this week in the Golden Hills were 1712 Speyer Ln, 1635 Goodman, and 704 Reynolds.

Hopefully we'll continue to see a steady flow of new listings throughout the balance of the Spring and Summer.