Homes for Sale North Redondo Beach CA Real Estate Week of 9/8/2014

The torrid pace of new listings continues with 21 homes hitting the MLS the week of 9.1.2014 up from 16 the week before (which I thought was high). Two of the new listings went into escrow in the first few days so the net new inventory gain is 19 homes.

As of Sunday morning there are now 78 properties on the market, up from 73 last week. We might see the same results next week. I know that I'm putting 2 new listings out: 2105 Mathews Unit 12 and 3303 Johnston Av. More on those later.

Last week 13 homes went into escrow (including on of mine), and 8 properties sold. So compared to the prior week, the same number of homes sold, more went into escrow, and more were recently listed. Market slowdown? I don't think so. At least not at the beach.

N REDONDO BEACH HOMES SOLD WEEK OF 9.8.2014

Closed sales last week ranged in price from $430,000 up to $1,019,000 with the median being $675,500. That was significantly skewed down by the $430K sale. Taking that out of the equation, the median was $720,000 which is probably more indicative of a reasonable expectation to buy a decent North Redondo Beach 3 bedroom (townhouse).

So what do you get for $430K? 952 sq ft "fixer" on Kingsdale across the street from the Galleria Mall. Curiously I always thought that was the "Torrance" part of 90278 but apparently it is Redondo Beach Schools over there as well. I just showed the "sister" house this morning and that one needs a backhoe more than a buyer. I always say that when they don't show the inside there is a reason. Mold on the walls, no kitchen or floors is a pretty good reason.

At the extreme other end of the spectrum is the gorgeous detached front unit townhouse at 2115 Clark Lane Unit A (pictured above) that sold for $1,019,000 (down from $1.039M). That property which was just built in 2009 with a Tuscany elevation features the standard detached 2 on a lot floor plan with 4 bedrooms upstairs. This home also features a roof deck which is rather rare for North Redondo Beach. Front units feature front and rear yards and this property is the usual "builders data" 2585 sq ft.

Of the properties that sold there were 5 SFRs and 3 townhomes. 2520 Grant was the rare Hoffman Murphy listing that sold for the list price and not above. Curiously the buyer had put an offer in on one of my listings and then cancelled. I wonder what the timing of that may have been. Hmnn.

IN ESCROW WEEK OF SEPT 8th

Fairly strong activity with 13 listings opening escrow last week. One of my favorite properties is 1114 Harper on one of my favorite blocks in North Redondo Beach just at the Hermosa border. Actually when that Tall & Skinny SFR was new in 2007, I almost bought it. Located just a stones throw from Hermosa Beach, it is a great property. Listed for $939,000 it is 1889 sq ft with a reverse floorplan. Lasted on the market 3 days. Wow. Golden Hills is HOT!

Also quickly in escrow was 2512 Spreckels Lane in the "El Nido" neighborhood. This is your classic 1950's 3/1 SFR on a 5000 sq ft lot. My prediction is that the SFRs in MLS Area 153 will come up in price as they are now selling for the most part for less than similar homes in the Torrance West High or Southwood neighborhoods. Curiously this standard sale was listed by Leo Nordine who is known for REOs and foreclosures. The house was priced at $695,000.

1306 Phelan was initially priced at $1,135,000 but as soon as it was lowered to $1,099,000 they got an offer. That property is a detached 2 on a lot townhouse with no common driveway built in 2007. It has 5 bedrooms, 3.5 baths and the appraiser says it is 2760 sq ft.

I was really surprised to see 2100 Speyer scooped up so quickly. That house is a 3536 sq ft SFR on a 7502 sq ft lot in the El Nido neighborhood. It has 5 bedrooms and 3.75 baths and was built in 2009. It sits high on a corner. Finish work (marble, tons of wrought iron), just not my style. List price $1,449,000.

NEW LISTINGS WEEK OF 9.8.2014


NEW LISTING COMING NEXT WEEK

I have 2 new listings coming out. The first is an over 2000 sq ft 3 level end unit attached townhouse at 2105 Mathews. It has a great kitchen remodel and a unique floorplan with 2 bedrooms on the upper level, living room, dining room, eat in kitchen and bedroom on the middle level and a huge bonus room downstairs. It will be priced in the mid $6's but we expect it to get bid up closer to $700K. Also coming is a SFR at 3303 Johnston that I may have in escrow before it hits the MLS. It is a 3/2 SFR, about 1400+ sq ft on an 8300 sq ft lot. It will be priced in the low $7's.

Not on the MLS yet but expect to see the "Amir Amiri" SFRs on Clark (pictured above and below) hit the market next week also. These are 4 bedroom very contemporary homes standard floorplans - all bedrooms upstairs. I just don;t get the pricing which I am told will be a little above $1.2M. Really? I would have bought Harper or any number of other properties first. We'll see.

If you are surprised to see some N Redondo Beach prices creeping above $1M, don't be. With Hermosa Beach and Manhattan Beach priced out of most buyer's budgets, North Redondo Beach has become increasingly desirable. I am seeing some very curious examples of pricing inversion though with some resales selling for as much or more than new construction, South Redondo Beach townhomes offering significantly more than some Tall and Skinny Golden Hills properties, and as I mentioned above relative to the El Nido neighborhood, some North Redondo Beach older '50s tract SFR selling for less than their counterparts in Torrance. Sure is fun.
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