Luxury North Redondo Beach Real Estate for Sale
I don’t throw around the term “luxury” often when associated with Real Estate simply because I just think the term is totally overused. Every Brokerage seems to tout themselves as a luxury brand and selling luxury homes. But that’s not obviously something that can be correct because if it is all “luxury” , well you get where I am going, none of it is luxury.
So perusing some of the definitions of luxury, what is most applicable to housing is “not essential or necessary but desirable”.
For me there’s a point at which we move beyond housing and a place to call home to lifestyle and that’s certainly one of the definitions of luxury Real Estate. Another criteria I frequently use is the top 1-3% price point in any neighborhood which might also equate to the newest and largest properties in the area.
However you then define it, I can now say that North Redondo Beach 90278 has crossed over to having become a luxury market. Not entirely surprising but it happened rather quickly. Where homes over $1M where rare just a few years ago in 90278, we have now rather quickly passed the $2M threshold a few times. And if I were writing this post just a few months ago I would have said that we haven’t yet broken $2M. And now within a matter of weeks we are over $2M and more than once.
So here’s the recap of of what has changed to move North Redondo to being a luxury market. Well at least at the top end anyway.
2122 Perry Ave
This was the game changer in North Redondo Beach because it was the first sale over $2M in 90278. It sold on February 25th after zero days on market for exactly $2M including a $50K concession from the listing agent who also represented the buyer (per the MLS). I previously wrote about it here.
This single family house was new construction, 3420 Sq Ft and has five bedrooms sitting on a 5000 Sq Ft lot. It sits on the corner of Perry and Rindge putting it right across from Lincoln Elementary and Anderson Park.
It was “fully-loaded with the Control4 automation system, giving convenient control of the LED lighting, built-in speakers, and intercom. The kitchen features stainless steel appliances (including a Thermador stove & hood), the bathrooms are custom tiled, and the flooring is European white oak hardwood. All doors and cabinetry are custom-made. Guest bedroom with a full bathroom downstairs. All other bedrooms and laundry room upstairs. Other characteristics of this home include electric fireplaces in the living room, family room, and master suite, a walk-in closet, and a nice backyard” per the MLS description.
It was done in what I call “coastal contemporary” (is that a real category?). Here’s a few pics.
It didn’t take too long for another new construction home to sell at a slightly closed higher price of $2,015,000. It initially came on the market for $2.1M and was reduced to $2,049,000 before selling after 60 days on the market.
I liked the finish work of this one a little better and while Robinson is a busy street, I preferred the location.
The specs were more or less the same so I won’t repeat them again but here’s some more pics because we all like looking at nice houses.
So now we come to the head scratcher within the game changer category. The highest price so far has not been for new construction but for a resale! This SFR wasn’t too old, initially built in 2016, but it is a few hundred Sq Ft smaller. It has some very unique finish work and is further west than the others. It was only on the market for 7 days and sold above the $1,999,999 asking price at $2,020,000.
So why does a slightly older, slightly smaller property sell for just a little bit more? Personal taste, location, or any number of other very subjective personal reasons. It does sort of blow out my theory that all other things being equal, new construction leads the way as to pricing. FYI, when new, this home sold for $1,690,000 in 2016. Not a bad investment all in all.
So Where Is This All Heading?
Higher price points and more “luxury homes” in North Redondo Beach for sure. While I focused only on the $2M Plus sales in this post, there is another new construction property pending at 2203 Graham that was listed for $2,095,000. And, another new listing just hit the market on Ralston priced at $2,525,000. That one is much larger than the other at over 4,000 Sq Ft and with 6 bedrooms on an almost 7500 Sq Ft lot. Wow.