Redondo Beach February Home Sales

Home sales in the cities of Hermosa Beach and Manhattan Beach are both up significantly for the year-to-date period versus the same time frame of last year.  Redondo Beach has experiencea similar lift with an additional 45 homes closing escrow in February, bringing the total for 2010 to 102 closed escrows.  This is up from 75 last year for an increase of 36 percent.  As promising as this is, the median price of these homes has not climbed as it has in the other two beach cities.  In fact, the median price is pretty much flat from the same period a year ago.  In Manhattan Beach, the increase jumped nine percent, whereas, in Hermosa Beach it actually exceeded 30 percent.  So at a high level, the total number of sales of homes has grown impressively in the three beach cities, but Redondo Beach has not seen the commensurate gain in median price that the other cities have.

The most expensive closed sale in Redondo Beach for the month of February was $1,495,000 for a 2,500 sq. ft. home with three bedrooms in the Hollywood Riviera area.  As for the least expensive closing, it was once again for a condo on Artesia Blvd.  This time the price was $284,000 for a brand new one bedroom condo.

There were an additional 63 sales opening escrow last month here.  This brings the total number of active escrows to 141, which represents a healthy continuation of the number of sales moving forward.  The median list price for these sales is $689,000, though this does not represent the final sale price.  At best, sales prices through March will therefore probably inch up only a little in Redondo Beach.  The total inventory of homes for sale stands at just s few months with the recent sales pace.  As of this writing, there are 245 active listings.

Visit us at Beachtime Realty