Redondo Beach Golden Hills Homes for Sale: Rapidly Increasing SFR Prices

Ellis Posner Golden Hills Listing on Dixon St
It seems that almost every week we are setting a new high for home prices in the Redondo Beach Golden Hills with increases happening faster than in other surrounding neighborhoods. That's of course great if you are a seller but can be discouraging if you are a buyer. Unless a) you are one of the fortunate few who can secure a property and b) these runaway prices continue unabated.

I recently listed 1748 Dixon St for sale. It is your standard Tall & Skinny 3 bedroom 2.5 bath reverse floorplan house built in 1984 with 2 bedrooms downstairs and the master bedroom, living room, dining room and kitchen upstairs. As you can see from the picture to the left, this house has very high vaulted ceilings with the wood in its original condition. The property faces west and has a great open feel with a little but of a neighborhood view (and sunsets). Its not that far from the beach, Manhattan Beach adjacent (location, location, location) and is close enough to Artesia Blvd to take advantage of some extra parking but not close enough for the traffic and noise to really be a factor. Cute, typical Golden Hills Cape Cod curb appeal and all in all a nice property. I listed it for $879K and an offer was accepted over $900K. And it appraised (no simple feat these days). I'm speaking with some other homeowners in the area and the next similar property I list most likely will be at $929,000 or higher if it is newer. And I'm guessing that one will sell for over that amount as well because there is currently huge pent up demand for homes in the Golden Hills.
Here's some examples of what's going on.

1732 Wollacott Lane was listed for $979,000 about a week before my Dixon listing. From the outside it looks very similar. Wollacott is a few blocks east from Dixon and this house is a a little further into the community. Same floor plan (with one difference), built in 1986 and from the exterior it looks very similar with a Cape Cod elevation. Most likely even the same builder as far as I can tell.

Golden Hills Tall and Skinny SFR with View
Because the even side of Wollacott sits higher than the next block east, Axenty, many houses have expansive east and north facing views including snow capped mountains (if the drought every subsides). This property had those features and many more updates than my listing at 1748 Dixon including the "to die for" bathroom. It was also decorated impeccably. It also had one major differentiating feature and that is that what (I am speculating) was once a basement within the structure was nicely converted into a family room or man cave with sliding doors out to the small backyard which incidentally has views of the Hollywood sign on a clear day.

As best as I can tell, that property had over a dozen offers and is selling for close to $1.1M cash. So that becomes the new "norm" once it records. But why wait for anything to record when we can still run the prices up.

1533 Goodman Ave was just listed (not by me) for $1,169,000. Gorgeous Casner built resale with some amazing finshes and features (and I have written extensively as to how I have been able to sell Casner resales for higher prices). This property was built in 2012 and has maple hardwood floors, wainscoting and crown molding, Viking appliances, 14 foot and higher ceilings, 8 foot solid core doors and more. But it is also priced $100K above what recent new (Amir Amiri) construction has sold for. At the end of the day it is still your standard Tall and Skinny on a 2500 sq ft lot. I'm very curious as to how they get that one to appraise because it is about $100 a sq ft over what I am seeing in the neighborhood (high $4's for great properties with distinguishing features.

Speaking of Casner built homes, it looks like there are 4 new ones that are almost completed on Reed St. They do seem larger than the typical footprint and a few on oversized lots. I'm expecting prices may hit the mid $1 millions.

Here's some Golden Hills sales data you may find interesting.