Homes for Sale in Redondo Beach CA: New Listings Week of 5.20.2013

Not quite the new listing activity this week as we saw last week in North Redondo Beach, CA.  Possibly sellers are holding off listing their homes until after the holiday weekend, though I'm not quite sure why. I can virtually guarantee that buyers will be out in droves this weekend.

So, six new MLS listings plus 2 that came back on the market for a total of 8 "new". Meanwhile 17 went into escrow (MLS status either "backup" or "pending" and 5 homes closed escrow in North Redondo. Therein lies the problem: at what should be the busiest time of the year, more properties are going off the market than are coming on resulting in the extreme shortage of inventory we've been experiencing.

Yes, I know I'm being repetitive, but this scenario is likely to continue indefinitely. With rising prices, there are fewer homeowners underwater. But for the rest, even with the low interest rates, most are staying put and not "moving up". Many are waiting for prices to go up even further. What did go up this week is interest rates and if that continues, prices may stagnate at the current levels for quite a while. But as long as we stay below 4% for a conforming SFR loan or right at 4% for a condo-townhome, the price increases are likely to continue.

2112 Harriman Ln Unit B, Redondo Beach CA, 90278: MLS SB13096980. Rear unit detached 2 on a lot townhouse in MLS Area 152. Not too far east but also not Jefferson Elementary (and Birney has recently gotten some good reviews). Built in 2004, this 2304 sq ft 4 bedroom home offers a "Santa Barbara" style look and feel. There are "interior archways and sunken living room with 11 foot ceilings, travertine floors of variegated light and dark tones, and a kitchen with an array of stainless steel appliances and dark granite counters with stone splash that accents the light hued wood cabinetry. Sliding doors lead to a sunny south facing yard and patio with beautiful roses and other flowers. This is an absolutely terrific floor plan with an airy and spacious Master Suite complete with a retreat and balcony and superb views of Palos Verdes. All the bedrooms are very large and there is a separate laundry room on the bedroom level." Listed by RE/MAX Estate Properties for $879,122.

1906 Morgan Ln Unit B, Redondo Beach CA, 90278: MLS SB13096077. As has been the case the last few weeks, we're seeing more and more of the "herd effect". This is a very recently built resale of another detached rear unit two on a lot townhome in North Redondo Beach MLS Area 152 and just a few short blocks to Jefferson Elementary School. This townhome was built in 2009 (basically brand new) and listed for $959,000 by Keller Williams. The property has 4 bedrooms and is 2602 sq ft in size which, let's face it, is huge. Unlike other homes in the neighborhood, this townhouse also features a roof top deck and a loft area. Gorgeous kitchen with a huge center island, wrought iron spiral staircase, and all the upgraded finishes you would expect to find.

1601 Ford Ave, Redondo Beach CA, 90278: MLS SB13095159. I had to include a Golden Hills "Tall & Skinny" so ya'll don't start calling me the "Redondo Beach Townhouse Guy" again. (It's OK, really.) This corner lot Golden Hills (MLS Area 154) single family home is a good indication of where Golden Triangle home prices are going (up). This is your standard reverse floorplan 3 bedroom 1900 sq ft on a 2500 sq ft lot. Because it is on a corner and facing east, it is very bright throughout the day. And the 4 skylights help. Listed by South Bay Brokers for $839,000. 

It's interesting to compare the pricing of the detached 2 on a lots with the Tall and Skinny SFRs. While the first tow townhomes certainly offer more living area and a standard floorplan, if you don;t need the bedrooms, is less than $850K a better investment for a SFR a better investment than more than $900K for a detached townhouse? I'll let you ponder that one, and write more on that topic in future blog posts.
Ellis Posner - Agent at Shorewood Realtors, Inc