Jumping the Shark in North Redondo Beach | New Market Highs

Highest Prices Paid for Houses in N Redondo Beach

Looking at all the sales recorded by Realtors in the MLS, there have only been seven instances of prices exceeding $1,600,000 in North Redondo Beach. In the prior market high, we had 3 instances in 2007, one in 2005 and this time around two in 2015 and one this year so far in 2016.
All of these previous sales were large SFRs, over 3000 Sq Ft with 4-5 bedrooms and with one exception were on 7500 SqFt lots. You've seen these houses around town, here's an example of what I'm talking about - this one sold for $1,634,000 almost a year ago and considering where prices are now was a great deal.

Take the same house and put it in East Manhattan Beach and add $750K or in South Redondo and add $450K. And considering that 2 on a lot detached townhomes are now approaching $1.3M these SFRs are certainly worth a lot more.

I find it indicative of the times to see that compared to 7 previous sales over 10 years, we now have 4 listings in active or pending over $1.6M in N Redondo Beach. For those who doubt that prices are going up this has to be disconcerting. And let me say that I am as surprised as anyone else.

2400 Hill Lane (pictured  above) was listed for $1,650,000 and is now in backup status. The house is simply huge, to use that over used phrase. It is 4422 SqFt with 6 bedrooms. Even though it needs considerable updating, it is priced at $373 SqFt which is way below the neighborhood average. So even if someone put $150K of updated in (and the house is totally livable the way it is), that would still be "only" $418 SqFt for one of the largest houses in Redondo Beach.

Now we get to a few I don't quite get, please excuse me fellow listing agents.

2109 Perry Ave is a 1989 5 bedroom 3544 SqFt SFR. Yes, it has great bones and grounds but approaching 20 years old needs updating for sure and already priced at $451 SqFt. But as I indicated above, the way prices are going, probably a great deal as soon as it closes.

2314 Gates (below) comes out at one of the highest priced properties ever in 90278. It is priced at $1,799,000 for a 7 bedroom 3663 SqFt house built in 2006.

Which leaves me with 1718 Harper Ave Redondo Beach CA. This is the one that got me thinking about whether we've "jumped the shark".

I love Harper and the location. Probably one of my favorite streets in N Redondo. If you've been in my car looking at houses with me you know my rant about how Harper divides Hermosa Beach and N Redondo Beach and you can even se the dividing line in the street. Plus, this is the exact contemporary style I really like.

But as most all the other homes were larger, 1718 Harper is "only"3100 SqFt on a 2500 SqFt Golden Hills lot, I'm not sure where the $1,849,000 list price coms from. Yes, it is not out of the range based on size and put it on the Hermosa side of the street and not as surprising. But, just sayin'.

Most likely setting a new high selling price in N Redondo Beach CA

So, back to "jumping the shark".

I was never a big "Happy Days" fan but back when it was on TV everyone certainly knew who Fonzie was. The show did well until the infamous episode where the Fonze, in swim suit and leather jacket on water skis "jumped the shark". Yeah, I know. Really. Here you go.....