Ellis Posner Sells Redondo Beach Real Estate

There were 47 closed sales in North Redondo Beach CA during October. Four of those were my listings and I also represented one buyer.

90278 Real Estate Agent Ellis Posner Selles North Redondo Beach
Selling prices in 90278 ranged from $360,000 up to $1,425,000. My sales were priced from $649,000 up to $1,079,000 with an average sales price of $812,750 compared to $782,461 as the average for the market for the month.

One of my sales, 2117 Huntington Lane Unit A, was a 4 bedroom 2750 sq ft attached townhouse that sold for $1,079,000 at the high end of North Redondo Beach home prices. I also sold an attached rear unit 3 on a lot 4 bedroom townhouse at 2411 Carnegie Lane Unit C for $808,000 which is at the higher end of resale attached townhomes. Both units were built 2005-2007 by Casner Construction proving that an investment in higher end building holds value. Both properties were maintained in excellent like new condition.

Two of my four sales were "off market" even though I put them in the MLS as "comps" (ie to boost my stats). Three of my four sales sold at or above the MLS list price and 3 out of 4 sold in 30 days or less. Three of the sales were townhomes and one was a SFR in the TRW Tract on an over 8,000 sq ft lot.

Three of my sellers were able to get a FREE leaseback after the close of escrow to help accommodate their moves.

Of the 47 homes sold in North Redondo Beach during October 19 were Single Family Residences (SFR) and the balance, 28 properties, were townhomes which as you know technically are "condominiums".

Through the end of October 417 properties were sold during 2014. So the pace of sales picked up from an average of 41 per month to 47, a very healthy sign.

Last year there were 511 sales in North Redondo Beach. From where we sit at the beginning of November there would have to be another 94 sales in the final two months to match last year's pace. That would be on average 47 (that number again) home sales per month. And guess what, as of this blog post there are 47 homes in escrow (MLS status "backup" or "pending'). There are another 53 homes currently listed for sale in the MLS. And who know how many "off market" transactions and pocket listings.

While it may feel to many buyers that sales are slowing down, not really. We're pretty much on the same pace as last year. Considering that homes are now selling for more than last year, all in all I consider the Redondo Beach housing market to be quite stable.

If you find these "Real Estate Market Updates" useful,  please visit my other Beach Cities Real Estate websites 90254realestate.com for Hermosa Beach and www.90266realestate.com for Manhattan Beach CA.