Let’s take a quick look at the month that was for November real estate in Redondo Beach California.
It was another big month with 77 properties closing escrow which was down a bit from the 87 homes the prior November. The median sales price was an impressive $1,249,000….click here to take a look at all of the homes that sold in Redondo. Homes averaged only 22 days on the market before going into escrow.
The highest price home sale of the month in the Hollywood Rivera, other than the oceanfront home on Paseo De La Playa, was a very nicely updated single family home with beautiful views of the “Queens Necklace” that is the coastline of the South Bay looking north. The home had been extensively remodeled and had a great open coastal look and feel. The home was listed for $2,400,000 and quickly sold after a week on the market and closed at an impressive $2,650,000.
Listing courtesy of Kelly Brochu – Pacific Sotheby’s International Realty 949-494-3600
While we just recently announced the sale of the beachfront home at 425 Paseo De La Playa at $6,900,000, there is a neighboring home that’s stilll for sale and actually has been on the market even longer. 433 Paseo De La Playa is a gated estate type property that is impossible to replicate given the lot size and location. This is a massive 7,792 square foot palacial estate with 7 bedrooms and 7 baths. Some of the highlights include oceanfront pool and spa, sport court, theatre, pool room and 4 car garage. The home has actually been on and off the market dating all the way back to 2014. From what we can tell it’s been pulled off and relisted more than 6 times and the price has gone from $16,000,000 to the current $14,500,000 over that time.
The challenge is that as magnificent as the home is, it’s very ornate and formal which doesn’t fit with the location and therefore would need signficant work and updating for most modern coastal buyers taste. At $14,500, it’s going to continue to be a challenge but the high end beach market has certainly picked up steam as noted by some significant sales on the Manhattan and Hermosa Beach Strand.
Listing courtesy of Mark Dessy – Premier Property Solutions 310-378-0488
The big news in the Hollywood Riviera is the sale of the oceanfront estate located at 425 Paseo De La Playa.
It was a very interesting home as the location was unbelievable and it was a true “estate” style property from the gated entrance, long driveway, outbuildings and more. It was also a bit of a project home.
The home was originally listed in 2019 for $10,000,000, pulled off of the market and brought back out in 2020 for an increased price (?) of $12,000,000. The lot is unbelivable and extended all the way down to the sand. Unlike beachfront homes on the Strand in Manhattan Beach and Hermosa, the homes along Paseo De La Playa offer a great sense of privacy and as there’s no close access to the beach, other than from the homes, it’s almost a private beach below.
View the MLS listing details below.
Listing courtesy of John Tran & Martin Le – NextGen Team Realty 657-208-3070
Welcome to the real estate recap for real estate in Redondo Beach CA during the month of October 2021. There were 96 MLS property sales closing during the month which was a pretty huge number of sold homes during the month. The median “sold” price was $1,356,000 and the average days on market (DOM) was a brief 18 before going into escrow and the average price per foot was $848. See how this compares with other months on our Redondo Beach real estate statistics and trends page.
Search the current homes for sale in Redondo Beach
It’s pretty hard to believe but as of 11/16/21 there are only 3 homes for sale in all of the Hollywood Riviera. We actually can’t remember a time with fewer home sales and searched 10 years back. This is certainly not great news for buyers as this just puts that much more demand on anything that hits the market. It’s certainly good news for home sellers and may be the perfect time for owners to consider selling their home in the area.
Compare the 3 current listings with 18 active MLS listings in Nomember 2020 and the high water mark of 37 in October 2019 and it is pretty stark just how low the inventory is.
