How Expensive Are Redondo Beach Homes?Over the past year, we've seen strong price appreciation in both North and South Redondo Beach and may now be at all time highs in some market segments.
As of this post there are 114 active listings in 90277-90278 of which 42 are under $1,000,000. Of the 47 properties for sale in South Redondo Beach, only 9 are under $1M. That leaves 33 homes priced under the million dollar mark in North Redondo Beach.
By comparison last year during October there were 47 sales in North Redondo Beach and only 10 were over the $1M mark. At the same time there were (coincidentally) 47 homes in South Redondo Beach of which 23 were over $1,000,000.
The median sold prices this year compared to last year are:
- 90278 YTD 2016 $855,000
- 90277 YTD 2016 $1,017,500
- 90278 Full Year 2015 $815,000
- 90277 Full Year 2015 $905,000
That's about a 5% increase in the North Redondo Beach median price and 12% for South Redondo Beach.
Let's take a deeper dive into what you can get at various price points in North Redondo Beach 90278. For an in depth discussion of South Redondo, hop on over to 90277realestate.com.
3 BD 2 BA North Redondo Beach TownhomesIn this category your best choice as a Buyer would be an attached 3 on a lot reverse floor plan townhome. There are close to 1000 of these units around North Redondo Beach. Front and rear (A or C) units might sell for right around the current median price with middle (B) units closer to $800K.
You will also find a few 3 bedroom 2 on a lots and some may even be detached. Currently those are selling at a discount to 4 bedroom properties and the 2 on a lots are often undervalued.
What you in in this category are both 3 on a lot attached properties and attached and detached 2 on a lot. The "on a lot" slug refers to how many properties (with separate APNs) are on each parcel zoned either R2 or R3.
4 BD 2.5 North Redondo Beach Townhomes
This is one of the segments that has had very strong price growth primarily as everything else has tried to keep pace with new construction.
Nice resale properties are selling at a discount to new construction. New homes built in 2016 are being priced at $1M up to the high $1.3s. So at around $1M to $1.1M you may very well be able to purchase a nice resale.
Single Family HomesThese really have to be very sub defined as to lot size and neighborhood. The most desirable neighborhood by far is the Redondo Beach Golden Hills which has the smallest lots and highest prices. For the Golden Hills be prepared to spend $1M for a nice home.
The TRW tract located in the NW corner of MLS Area 151 (think Manhattan Beach Blvd - Inglewood Ave) has a number of nice properties on lots that can range from 5000 SqFt up to over 8000. Mostly original houses may sell for the mid $800's. For new or larger homes add to that.
The sleeper in this category is El Nido where you can find mansion size homes in the mid $1M's but also nice mid century tract properties for around $800K.