What Happened in November? Active Listings Dropped Off a Cliff

A Look at the Real Estate Market in the Hollywood Riviera

We look at a lot of real estate data and charts for the South Bay and the pattern is generally pretty similar in various towns. The Hollywood Riviera seems to be a bit different, however, and doesn’t seem to be following the same trends. What we saw was a fairly typical increase in both listings and sales as we got to, and through, the summer months. It usually slows down around November but it’s usually gradual. That wasn’t the case in the Hollywood Riviera as we went from 37 active listings in October to 26 in November and plummeted to 15 in December.  Unfortunately for home buyers in the area, the inventory has been extremely low ever since.

View the current homes for sale in the Hollywood Riviera

The chart below shows active listings per month (light green) sold homes (dark green) and pending sales (red line)

 

New Oceanfront Home for Sale at 505 Paseo De La Playa in the Hollywood Riviera

505 Paseo De La Playa Listed for $5,500,000

It’s rare to see one of these incredible oceanfront homes hit the market and this is no exception. 505 Paseo De La Playa had been on the market as a rental but just came on for sale. It’s an older home that will likely get/need a significant face lift but as they say in real estate, “location, location, location”.

There’s no disputing that the location really doesn’t get much better. It’s a personal favorite of ours as we love the community of the Hollywood Riviera and this is the best location imaginable. Paseo De La Playa is a hilly street with the homes on the west side sitting on a beachfront bluff with incredible views of the ocean, PV and the coastline.

Unlike the beachfront homes on The Strand in Manhattan Beach and Hermosa, the views don’t go away when the sun goes down. Incredible city light views just seem to get more impressive.

Priced at $5,500,000 this is a 4 bedroom (one bedroom downstairs and 3 upstairs), 3 bath home with just under 3,200 square feet.  Built in 1962 the house is certainly bright and open but we envision the buyer will likely be doing quite a bit of work.

Oceanfront Home in the Hollywood Riviera

New Hollywood Riviera Oceanview Condo for Sale at 635 Paseo De La Playa 305

635 Paseo De La Playa in Cote D'azur

Althought the condo complex of Cote D’Azur in the Hollywood Riviera sits oceanfront, it’s actually fairly rare to see a unit with big ocean views.  While the newest listing in the complex doesn’t directly face the ocean there is a ver nice view from the corner making it ulike some of the more recent listings.  Ironically it is located pretty far east in the buildings but due to it’s view down Paseo De La Playa it has a great ocean close feel.  Priced at $1,050,000 this is a 2 bedrooom, 2 bath 3rd floor condo on one level with approximately 1,312 square feet.  The location of the complex is fantastic at the highest part of Paseo De La Playa.  Montly HOA is approximately $560 a month and association amenities include a very nice pool area with a small clubhouse building and bbq area.

Real Estate Recap – February 2020 Sold Homes and Home Prices in the Hollywood Riviera

February home sales in the hollywood riviera

February was a very slow month for closed home sales in the Hollywood Riviera with only 8 homes sold during the month. That’s the fewest home sales in a month over the past 18 months other than December.

Prices were very strong with the median list prices of $1,362,000 and a median sales price of $1,335,000.  Average price per foot for sold homes in the community was $784.  Median days on market was only 52 which is another indication of a strong sellers market.     See the Hollywood Riviera real estate stats for the past 15 months below.

February 2020 Home Sales and Prices in the hollywood riviera.

MLS #Type AddressPrice$ Per FootBed/BathSq FeetYearSale Date
CV19256190SFR/D138Via Colusa   $1,229,000$1,006.552/2,0,0,01221/A1948/ASR2/12/2020
PV20002771SFR/D146Via Monte Doro   $1,675,000$604.473/1,1,0,12771/A1956/ASR2/13/2020
SB20029536SFR/D135Calle De Andalucia   $1,100,000$1,077.382/1,0,0,01021/A1949/ASR2/21/2020
SB20003222SFR/D644Calle Miramar   $1,325,000$700.693/2,0,0,01891/A1958/ASR2/24/2020
SB19250168SFR/D5418Calle De Arboles   $1,345,000$613.874/3,0,0,02191/A1955/ASR2/27/2020
SB20006563SFR/D4621Greenmeadows AVE  $1,129,000$721.873/1,2,0,01564/A1953/ASR2/28/2020
SB19242072SFR/D4111Paseo De Los Tortugas   $1,550,000$699.774/3,0,0,02215/A1968/ASR2/28/2020
PV19233601SFR/D301Avenida Atezada   $1,925,000$848.393/3,0,0,02269/A1959/ASR2/28/2020

By the Numbers – Real Estate Stats for the Hollywood Riviera CA

Looking to Lease? Beachfront Home for Rent at 507 Paseo De La Playa

IIf you dream of living oceanfront, but can’t afford to buy, 507 Paseo De La Playa might be a good fit.  Listed at $7,600 a month this home couldn’t offer a better location as it sits on one of our favorite streets in all of the South Bay… Paseo De La Playa.  The homes on Paseo are simply incredible with enourmous oceanfront lots extending all the way to the sand, stunning ocean views and a great sense of privacy as the homes sit high on a hill.  The lease listing at 507 Paseo De La Playa offers all of that.  The home is a bit dated but the focus is squarely what lies just outside.  This home offers 3 bedrooms, 2 baths and approximately 2,600 square feet on two levels.

Information for 507 Paseo De La Playa in the Hollywood Riviera

425 Paseo De La Playa – Oceanfront Home on The Best Street in the South Bay

425 Paseo De La Playa

We always get excited when a home comes on the market on Paseo De La Playa.  In our opinion this is one of the top 2 or 3 streets in all of the South Bay, Beach Cities and Palos Verdes.  There is nowhere other than a few homes in PV that offer beachfront/oceanfront locations with huge coastline views.  What this means is that when the sun goes down you have equally stunning views as during the day.  The unique homes along Paseo De La Playa sit on huge lots that extend all the way to the beach.  Some are too high up to really have access while others were able to add paths granted by the California Coastal Commission (which is very challenging)  The few homes and lots furthest north are on the lowest part of the bluff so they can build bigger with more amenities.  The home at 425 Paseo De La Playa is one of them.  While definitely a bit dated the location is tough to beat and will make a true legacy home for some lucky buyer than can afford the price tage of such a unique property.

  • Huge 28,177 sq foot lot
  • 5,800 square feet (some areas unfinished remodel)
  • Pool, spa, gazebo, outood kitchen
  • Oceanfront

Information derived from MLS listing.  Deemed reliable but not guaranteed

425 Paseo De La Playa in the Hollywood riviera

Keith Kyle is a top producing realtor in the Hollywood Riviera with Vista Sotheby’s International Realty. Contact Keith for all of your real estate needs

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Vista Sotheby’s International Realty is one of the premier real estate firms in Southern California.  Visit our Riviera Village Office

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Homes in Hollywood Riviera. All rights reserved. Information deemed reliable but not guaranteed