New Listings, Broker's Open House Tour, Pending and Sold Homes in North Redondo Beach CA

There were 6 new listings in the MLS this week, 1 price reduction, and one home back on the market this week in North Redondo Beach. Six properties went into escrow (MLS status "pending" or "backup") and 6 Sold (COE). So basically homes are going off the market at about the same pace as properties are being listed to replenish the inventory. At this rate, the current "Seller's Market" in North Redondo Beach will likely continue unabated for the near future.

By a "Seller's Market", we Realtors are referring to less than 3 months of inventory on hand. Currently there are 41 active North Redondo Beach MLS listings and 63 homes sold last month. That is less than 1 month of inventory and an extreme Seller's market for North Redondo Beach homes.

I visited most of the new listings on the Broker's Open House Tour on Thursday. Here's my impressions.

2419 Voorhees Ave Unit B, Redondo Beach CA 90278: A very unique property for a number of reasons. Technically, it is "attached" to Unit A but there are no common living walls. I'm not sure what I would call this style. Tudor, Englsih Manor at the Beach, maybe? But it definitely has some charm and it works. The townhouse is 2640 sq ft not inclusive of a very unique attic space accessed through a pull down ladder in the master bedroom. The windows you see on the dormer are not decorative, There really is an attic space up there not counted in the sq ft. And, all the rooms are large. This townhouse definitely has a  lot of potential and there are a number of projects to be done to update it but it is remarkably under priced at $789,000 and I am expecting that it will sell for well into the $800's with multiple offers thus weekend and won't even be an appraisal problem. MLS SB13190754. Listed by the Hoffman-Murphy Team of Keller Williams. Definitely one of my favorotes.

1805 Stanford Av, Redondo Beach CA 90278: Golden Hills remains hot and this home should have no problem finding new owners. It is your standard reverse floorplan Tall and Skinny measuring 1729 sq ft on a 2500 sq ft lot with a south facing backyard. From Stanford it is an easy bike round or hearty walk to the beach. This house is priced at $799,000 and I'm guessing it may sell for slightly higher "just because". 1739 Ford, which is much newer, larger and (I think) nicer still hasn't sold for $875K so we may see some buyers trying to conflate that house with this price point. Good luck on that. The listing agent for 1805 Stanford is also the owner. In fact, he just represented the buyers of my listing at 1835 Rockefeller Ln. He and his wife have done an excellent job on the updates and remodel and you can just about move in as it is. I really like some of the smaller touches such as the lighting they've put in. Listed by Beach City Brokers. MLS SB13189828.

2314 Marshallfield Lane Unit B, Redondo Beach CA 90278: If you saw 2206 Huntington last week, this is a variation of the same theme; a smaller 3 bedroom detached two on a lot with very much the same traditional floor plan. Huntington was priced at and quite frankly I liked it a little more even though it needed more updates. It just felt larger and brighter although both units have south facing backyards. 2314 Marshallfield has a lot of nice upgrades such as: roof & gutters, water filtration system, completely remodeled kitchen including granite counters, new stainless appliances, Viking double oven and 6 burner stove, recessed lighting, travertine floors, remodeled bathrooms with granite counters, new hardware, sinks, mirrors, new French doors to backyard, hardwood. It is listed for $749,000 which I consider to be just about the market price. The listing broker is 3 Leaf Realty which is starting to do quite well in North Redondo Beach. MLS SB13189870.

1901 Ernest Ave Unit A, Redondo Beach CA 90278:  You've driven by this one a million times, or at least I have. And therein lies its main problem. The townhouse sits at the corner of Ernest and Aviation with all the upstairs bedrooms having windows on Aviation. Truthfully, it was not as loud as I was expecting and it has a great floor plan for a 3 bedroom detached townhouse. Double doors lead you to an open foyer and into the living room with high ceiling and fireplace. Walk through sliding glass doors onto a private yard with stone pavers and low-maintenance landscaping. The family room with plantation shutters and ceiling fan is open to dining area, that leads out to another patio. The remodeled kitchen features granite counters. There are wood floors throughout the first floor. Three bedrooms are on the second floor. Two bedrooms share a Jack and Jill bathroom. The master bedroom retreat has sitting area, plantation shutters, bay window, walk-in closet and master bath. MLS SB13189929. Priced at $699,000.

REDONDO BEACH TOWNHOME PRICING GUIDE - SEPTEMBER 2013

Prices seemed to have leveled off a bit and are not accelerating as quickly as over the last few months when we saw new highs in prices almost weekly. I attribute this to a few factors.

We are through what has traditionally been the peak buying season although I do not put a lot of weight on that alone. More important is that as interest rates and prices both accelerated, there are buyers who simply became priced out of the market and stopped looking. Sellers are also seeing that they can't add $25K to the last sale and then expect to get $25K higher than that. So, while there are still multiple offers on many properties, not as many as previously.

Here's what you can expect to pay for North Redondo Beach homes:

3 on a lot townhomes: $675,000 +/-. Add $25K each of the following attributes; front or rear unit; newer than 2000; 4 bedrooms; larger than 1800 sq ft. Subtract $25K for older than 1990; smaller than 1600 sq ft; no updates; middle uint.

2 on a lot 4 bedroom townhomes: $800,000 +/-. Add $25K for newer than 2000; larger than 2400 sq ft; detached; Jefferson Elementary neighborhood. Subtract $25K for less than 2000 sq ft; 3 bedroom; attached; no upgrades.

These are not hard and fast rules but rather guidelines and starting points, Each property is unique and an experienced local agent can best advise you.