If you are a Redondo Beach homeowner you most likely know that property values have gone up significantly over the past 12-15 months. In some cases 20% or more.
Over the last year or so, I have sold most every variation of Redondo Beach Residential Housing: Attached 3 on a lot Townhouses, 2 on a lot Townhouses, Single Family Homes, Tall and Skinny SFRs, R2 lot Teardowns, units in larger condo complexes, etc. I have a pretty good feel for what buyers are looking for, what they will pay, recent comps and what properties will sell for.
While every home is unique, here's a quick pricing guide. Call me for a confidential valuation of your home.
If you have a 3 bedroom standard floorplan 3 on a lot townhouse, unless the condition or location is terrible, you will most likely sell for over $650K. The $500-600K market is now mostly 2 bedrooms and I don't think there is an under $500K market in 90278 anymore (except for senior unit condos).
Newer 3 on a lot townhomes in good to excellent condition are selling for up to $750,000. What is bringing the highest sales price is anything over 1800 sq ft, end unit, newer, "C" units with a backyard and south or west exposure. Some of the larger 4 bedroom properties with no common driveways are in very high demand as is anything newer. New construction has hit the market and those homes are price at or above $800K. In some instances, substantially above $800K.
Detached 2 on a lot townhomes with standard floorplans are selling in the $800's. Any given week will most likely bring 2-3 new listings, usually priced in the high $7's but by the time we are done with the multiple offers and bidding wars, we're usually at about $800K something. If the property is significantly newer or has other desirable features such as no common driveway or is located near Jefferson Elementary School in MLS Area 152, the prices may even be over $900K. New construction right now is pricing out at above $1M.
Golden Hills "Tall & Skinny" SFRs are also being priced in the mid $800's. There seems to be resistance at about the $850K price point for the standard reverse floor plan 3 bedroom units. Some sellers of older homes with only 2 bathrooms have been trying to push into the $800's but that is a tougher sell unless there is a view or other compensating factors. While there is considerably more townhome new construction going on helping to elevate the prices, I've not seen too much activity recently on Tall and Skinny SFRs.
Builders are running out of buildable R2 and R3 lots. If you are sitting on one of those - call me right now. I have cash buyers.
The story remains the same as it has been over the past few months: available inventory for sale is far outstripping demand with many buyers looking for homes in North Redondo Beach which is both affordable and desirable.