Redondo Beach Market Update May 2019

As always, I will look at North and Redondo Beach separately because for all intents and purposes they are separate and different markets.

North Redondo

Through the first 4 months of 2019, there have been 138 closed escrows in 90278. This is actually slightly less than the 142 sales during the same period in 2018. The median price during this time frame for 2019 was $960,000 compared to $1,010,000 in 2018. So both median and sales down. This year we did see 3 sales close for over $2M and one for $1,999,000 whereas for the same time frame last year the top sale was $1,950,000.

Here’s the sales by month:

  • January 16

  • February 28

  • March 44

  • April 50

Sales Price Brackets

75 sales were under $1M (54%). The “sweet spot” is between $1M and $1.4M which contributed another 42 sales and the balance were over $1.4M.

Single Family Residence vs Townhouse / Condominium

In North Redondo Beach SFRs were 45 out of 138 sales (33%). Condominiums (flat apartment style) and Townhouses were the balance of the properties sold. N Redondo has a much higher condo - townhouse contribution factor than Manhattan or S Redondo.

North Redondo Beach Sales by Micro Market

  • Golden Hills 19

  • El Nido 18

  • N Artesia Blvd 53

  • S Artesia Blvd 46

South Redondo

Through the first 4 months of 2019, there have been 135 closed escrows in 90277. So just slightly lower than 90278 and much higher than the 108 sales during the same period in 2018. Actually quite a healthy YOY increase of about 29%. Nice!

The median price during this time frame for 2019 was $1,140,000 compared to $1,245,000 in 2018. So median down and sales up.

Here’s the sales by month:

  • January 28

  • February 29

  • March 36

  • April 42