January 2016 North Redondo Beach Sales | Year Starts with a Whimper

North Redondo Beach Golden Hills Homes for Sale

There were 31 closed escrow in North Redondo Beach 90278 during January 2016. This exceeded the 28 homes sold during the same time period in 2015 but is still far below the average of monthly sales for 2015 and where we need to be to satisfy crushing buyer demand.

By comparison there were 27 sales in South Redondo Beach 90277, 15 in Manhattan Beach 90266 and only 10 in Hermosa Beach 90254. So much of the Beach Cities activity remains in North Redondo which is also one of the hottest beach markets in coastal LA County because of affordability, lifestyle, schools, amenities, etc.

I want to point out the obvious: with so few sales in the Beach Cities, it would be easy to conclude that sales are "down". As of this post there are 39 properties in escrow some of which will close this month starting to put us back on track to last year's pace of 533 sales in North Redondo. And, we are just entering the traditionally strongest selling season. What is up, for sure, are prices and more about that another time.

These are the properties that closed escrow in North Redondo Beach during January 2016 from low to high price.

North Redondo Beach Sales Jan 2016

(Yes, I know the print is a little small but more detail to follow.)

A few quick observations.

First, see those red and green arrows? Green means the listing sold above the last MLS asking price and red below. No arrow means at the listing price. To be specific, I am referring to the last list price meaning that if a property was reduced and then sold above that, it shows as a green arrow. Or if it was reduced and then sold below the reduced price, it is red.

One thing confusing the public today is the "Days on Market" (DOM) and "Combined Days on Market" (CDOM). Because some agents place a property in "Backup" status and the counter keeps ticking, a purchase contract may have been accepted days earlier than the public records or MLS will show.

So anyway, what I'm trying to point out is that 14 of the 31 sales went above the asking price, 6 at list price, and 11 below meaning that about 65% of the homes sold were at or above the MLS asking price. The median price for the month was $876,500. For me, the only value of the median is as an indicator and that number feels about right in the current market conditions. By that I mean that above that price you start to see somewhat less competition and are getting a nicer home.

Here's the breakdown by MLS Area.





So for those actually counting, only 30 sales above. The 31st should have been in Area 153, El Nido, but the listing agent put it in 699 which is the catch all for everything else. Fair enough because that townhouse on Grevillea is actually Torrance with a Redondo Beach mailing address.

Thanks for reading!