Real Estate Market Update August 2017 North Redondo Beach CA

Redondo Beach CA 90278 July Sales in Review

If you thought the market would be slowing down because everyone is at the beach, wrong. The market is blazing hot with July sales finishing up not much different than we've been seeing all year in North Redondo Beach. The trends remain the same and the trend is your friend if your are a seller. For buyers, the road can be rocky.
  • 53 Total Sales on par with June
  • 38 Homes in Escrow 15 days or less - up ten from June
  • Lowest "Standard" Sale $645,000 up from $575,000 in the prior month*
  • Highest Priced Sale $1,590,000 up from June top $1,407,500
  • 22 Sales Over $1M - plus 2 from June
  • 17 Single Family Residences Sold
  • 36 Townhomes / Condos Sold
  • Average Sales Price $972,698 up from $968,408
  • Median Sales Price $955,000 up from $940,00
  • Average Days on Market 19 
  • Sold Over List Price 28 down from 35
  • Under List Price 18 increase of 5 from June 13
  • MLS Area 151 - North of Artesia Blvd 14 Sales
  • MLS Area 152 - South of Artesia Blvd 29 Sales
  • MLS Area 153 - El Nido 6 Sales
  • MLS Area 154 - Golden Hills 4 Sales
*There was one age restricted unit sold and one TIC sale below $645,000. Both sales are included in the calculations.

While sales remain constant, average and median prices are up. The over $1M high end continues to increase.  Properties are going into escrow in record low days on market.

What might be encouraging for Buyers is that fewer homes sold over the list price and more sold under the list price than the private month.

So what does this all mean. On the macro level, a slight slowing of the market with Buyers being more discerning and not just chasing any price. That's a good thing. Really. Let's take a deeper dive.


SFR Sales July 2017 North Redondo Beach CA