Often when I am working with Redondo Beach buyers in the preliminary stages of their House Hunt I field questions about the price differential in North Redondo Beach 90278 and South Redondo Beach 90277. In fact, the analysis may lead you to view this as a tale of two cities with the same name and different zip codes.
Remember the adage of "location, location, location". It is always the guiding principle in Real Estate. As it relates to Redondo Beach, we are balancing beach proximity and ocean front vs freeway access and commute in many instances.
So, here's the first data point: except for Golden Hills and a few blocks of MLS Area 152, all of South Redondo Beach is further west (closer to the ocean) than North Redondo Beach. Along with that I would add that almost all of South Redondo Beach is 15-20 minutes further from the 405 and Freeway access than North Redondo Beach. And I've had buyers clock it at rush hour and tell me that South Redondo just adds too much time to their commute.
On to price comparisons.
The Golden Hills neighborhood in North Redondo Beach is one of the hottest micro markets right now for a number of reasons I've previously written about: location - it is the furthest west in North Redondo Beach, and access to jobs, freeway, etc. The neighborhood is predominantly comprised of Single Family Homes on 2500 SqFt lots in a style referred to as "Tall & Skinny". Most of them have a reverse floor plan with the living room, kitchen, dining room, and master bedroom upstairs and 2 bedrooms downstairs. There is a small backyard which might more accurately be referred to as a patio because it is not much bigger.
The demand for these homes has gone off the charts and it is not uncommon for nice examples to sell for tens of thousands of dollars over the MLS asking price. To buy a nice 3 bedroom Tall & Skinny right now budget high $900's and up. Many properties will change hands at over $1M and new construction will hit mid $1.5M.
|Redondo Beach Ocean View Townhome|
Price difference right now? South Redondo may be slightly higher at $1,050,000 and on up. But with the Redondo Beach Pier improvements to be made it is very possible that the area north of Torrance Blvd and south of 190th St outstrips other beach cities areas in regards to future price appreciation.
Here's another price comparison for first time buyers on a budget.
While in general, South Redondo Beach condos may have higher HOA dues than you'll find in North Redondo Beach (and that is strictly a function of reserves, insurance and other factors that go with the territory), you can still find a 1 or 2 bedroom unit at either Brookside Village or "The Village" for less than almost anything in North Redondo Beach. And these male great rental units when you later move on.
The Village is the very large condo complex on Catalina Ave just south of Hermosa Beach. Many units have ocean views. Actually the address of these units is "Village Way" in many instances. With the anticipated waterfront revitalization these may benefit from a huge area appreciation.
Brookside Village is an older condo conversion further inland with addresses on either Camino Real or Prospect. The HOA dues in either may net out to being a $100K or greater price offset but still a great solution for those who have the cash flow, can qualify but may not have the downpayment.