Redondo Beach Market Update | Low Inventory and Multiple Offers

Remodeled Tall & Skinny - very tastefully done!

As we approach the Ides of March (the day Julius Caesar was assassinated for the non history buffs) and approach the historical Real Estate selling season, North Redondo Beach inventory remains low. Very low. Often mid week we'll see between 33-38 active listings. Anything priced right and with desirable features is usually gone by the Tuesday following the weekend open houses. And, rest assured, each new listing is coming out at a price much higher than the one next door that just sold. And usually with less appealing features.

This past week there were 9 new listings, not too shabby. But we're still only looking at 32 active homes for sale in 90278. Through the first 9 business days of March 2016 we saw 17 closed escrows. So, we'll most certainly exceed February's feeble 18 sales. During the sale time period 21 properties went into escrow and there are now a total 61 homes in MLS status "backup" or "pending" meaning that an offer has been accepted. There are a phenomenal amount of buyers in the market right now and hot properties may get up to 15 offers.

One of my favorite new listings these week was 1741 Havemeyer Ln in the Redondo Beach Golden Hills neighborhood. This reverse floorplan 1881 SqFt "Tall & Skinny" was built in 2001 but has been very nicely maintained and updated (see above). It should receive a ton of activity and sell for a higher price. How high? Call me.

In addition to the new tile and hardwood floors, it is just a stones's throw from Jefferson Elementary for those parents who want to walk their kids to school.

Other than that, we are seeing a flood of detached two on a lots hitting the market. I've long thought these are some of the best values in coastal LA County. And even now when it takes around $1.1M or more to secure a nice one, still a great value if the shared driveway is not an issue for you.

Surprisingly, I haven't seen many 3 on a lots come out. I know of a few that may be on the market soon, though, and they should go rather quickly.