Townhomes in Redondo Beach CA: Sales are "Fast and Furious"

Redondo Beach, CA townhomes are selling very fast right now. Really. Blink twice and they are gone. Particularly any 3 on a lot MLS listings less than $650K, detached 2 on a lots, or new construction at any price. Here's a few examples. Follow the links for more pictures and details.

2003 Curtis Av Unit A (pictured) listed by Keller Williams for $779,000 went into escrow in 9 days at what I am guessing was for more than the list price. Front unit 2 on a lot townhomes in move in condition are in very high demand right now.

I'm not guessing on 2225 Mathews Ln Unit C which was listed by Shorewood Realtors for $649,000, received well over half a dozen offers, was in escrow in 8 days and may well have sold for close to $700K. We'll see when it closes. Rear unit 3 on a lot townhouses with backyards are hard to come by and are selling at a premium. A year ago these properties were selling for about $600K or slightly more.

Speaking of front unit 2 on a lot townhouses, the new construction townhouse at 2021 Gates Unit A in North Redondo Beach listed by Amir Amiri (Merit Real Estate) for $959,000 was in escrow after 2 days. Wow. With 4 bedrooms, excellent construction and finish work, and measuring about 2500 sq ft, it is no surprise. Lest I forget, the rear unit townhouse on this lot was in escrow in 1 day.

Speaking of Amir Amiri and Merit Real Estate, the rear unit new construction 4 bedroom 3 on a lot townhouse at 2409 Rockefeller Ln  (pictured above) was in escrow in 8 days. It was listed in the MLS for $779,00. Not sure how many offers they got but I had buyers willing to go up to $800K on that one.

As for new construction 3 on a lot North Redondo Beach townhouses at $800K, 2220 Vanderbilt Unit C was listed for $799,000 and as far as I know will sell for over $800K. Listing Broker is Jerry Carew, the owner of 3 Leaf Realty in Manhattan Beach.

So, I could go on a about this for quite a while because of the 60 or so townhouse properties currently in escrow in North Redondo Beach (90278), at least 20 of them went into escrow in 10 days or less:

If you are selling a Redondo Beach townhouse, the current "best practice" is to price your home right at or slightly below the most recent comp or competition. To sell for the most money as quickly as possible, use the exact opposite strategy of what you would do in almost any other situation. Start low. The old "let's test the market" will simply cost you time and money. Anyone in the market to buy a Redondo Beach townhouse is loaded with tons of data and statistics and probably knows all the comps and what properties have sold for thanks to websites such as Zillow, Trulia, and others. And if they don't know, their agents do.

If you are in the market to buy a Redondo Beach townhouse, be prepared to make a quick decision, offer more than the asking price and accept terms that are highly favorable to the seller. But you can be comforted in knowing that if sales continue at the "Fast and Furious" pace we've been on, you will have a nice amount of equity by next year at this time.