Redondo Beach Housing: More Homes on the Market

Not unexpectedly, as prices have gone up we are now starting to see the inevitable rise in inventory as sellers see more potential equity when they cash out. Not enough so as to tilt things in favor of buyers, but just enough to offer a few options and possibly relieve some pricing pressure.

Meanwhile hot listings continue to get multiple offers over the asking price while properties that aren't desirable or overpriced will sit on the market.

Last week there were actually over 50 listings in North Redondo Beach for  few days. As of this writing we are back in the mid 40's which is still higher than the 30 odd we have been seeing.

The new normal for 3 on a lot townhomes is around $800K with newer ones, end units, 4 bedroom units, further west locations all being listed for higher prices.

For nicer detached 2 on a lots expect to be around $1.1M plus or minus with new construction (pictured above) at $1.3M and higher. If you are in the market for the new units you most likely will have to tie one up before completion as they often do not hit the MLS until they go in as sold or in pending with zero days on market.

Older units and attached units can still be picked up for around $1M. An example would be 2203 Harriman lane which sold off market for $1,010,000 or 2120 Clark Ln which sold for $955K.

If you are looking in the Redondo Beach Golden Hills, the starting price for newer Tall and Skinny SFRs is $1M and then up from there. A good example would be 1753 Axenty Way (pictured below). It is the prototypical 1881 SqFt reverse floorplan built in 1999, listed for $1,070,000 and described in the MLS as:
"This beautiful home nestled in Golden Hills features 3 bedrooms, 2.5 bathrooms. Abundance of amenities throughout this home. Gorgeous living/great room with Cathedral ceilings, plantation shutters, lovely fireplace, recessed lighting, engineered hardwood floors, then step up to the dining area with skylight which overlooks the living room. Cooks Delight kitchen features granite counters, dual sink, GE appliances, plus a Frigidaire refrigerator. Hallway to half bath and further down to Master suite with Cathedral ceilings, recessed lighting, plantation shutters, hardwood floors, large walk-in closet and fabulous master bath with travertine flooring, double sinks, separate shower and awesome Jacuzzi tub and skylight. Master has a balcony overlooking yard. Downstairs at the entry level are 2 spacious bedrooms with hardwood floors with mirrored closet doors, Full bath with double sinks and Laundry area, central heat and Central Vacuum. Street level is the large 2 car attached garage with direct access. Enjoy the great backyard all year round."

Here's an example of what you can find in in 3 on a lots for $829,000:

"Sophisticated Mediterranean Townhome, rear unit of a 3-on-a-lot. This home has a reverse floor plan with the main living area on the second floor. This includes kitchen with gorgeous granite countertops, arched doorways, stainless steel appliances including a built-in wine fridge, large walk-in pantry, exquisite cherry wood floors, formal dining room, spacious living room with vaulted ceilings and a beautiful fireplace. Adjacent to the living room through sliding glass doors is a private deck for enjoying the sunshine and evening meals. Magnificent master suite with high ceilings and a large window in the spacious closet. The master bathroom is truly superb featuring double sinks, decorative tile backsplash, 6-jet spa tub and a frameless oversized shower underneath the natural light of a skylight. The first floor includes two large bedrooms with carpet and a full bathroom on the first floor along with a private landscaped yard accessed through each bedroom. Separate laundry room and a two car garage with storage."

Meanwhile 3/1 tract homes on 5,000 SqFt lots remain in the mid to high $7's like this one at 2220 Robinson.