Hollywood Riviera Real Estate Market 2018- Year in Review

2018 was an incredible year for real estate in the Hollywood Riviera.  Home prices continued to rise rapidly as demand for homes in this coastal community showed no signs of easing.  For those just starting to explore the neighborhood, the Hollywood Riviera lies at the base of the Palos Verdes Peninsula.  With a Redondo Beach zip and mailing address, the Hollywood Riviera is actually part of Torrance with Torrance schools and services.  The combination of strict building restrictions protecting views and the location on the side of a hillside, makes for often spectacular ocean and coastline views.

View the current homes for sale in the Hollywood Riviera.

As of 12/21 there were 91 closed home sales with an average list price of $1,783,944 and an average sales price of $1,751,000.   The average price per foot was $744.   The median list price was $1,399,000 with a median sales price of $1,415,000 meaning the median sales prices were over list price!!  The median price per foot for 2018 was at $699.

The higest sale of the year $22,650,000 for a spectacular oceanfront estate at 417 Paseo De La Playa.  The lowest priced sale of the year $607,500 for a 2 bedroom condo on Pacific Coast Highway.

Hollywood Riviera Real Estate Bucks the Trend…..

While most other areas and neighborhoods are seeing inventory of unsold homes rise as the market cools, the Hollywood Riviera has bucked that trend.  This fantastic coastal community has now seen three straight months with the number of active homes for sale decreasing.  September 2018 was the recent high water mark with 25 active listings.  Whether it’s just a slowdown due to the holiday season or a larger trend with tightening inventory remains to be seen.  As of this post (12/21) there are only 10 homes currently for sale in the community.

See the current homes for sale in the Hollywood Riviera.

Multiple Homes for Sale on Camino De Encanto…..Walking Distance to the Beach

By Keith Kyle

It’s not often that we see homes come on the market in the lower Hollywood Riviera neighborhood that’s west of Palos Verdes Blvd.  Occassionally we see a home or two and more often than not, there is nothing on the market in this area.  What makes this part of the Hollywood Riviera so great is that it’s walking distance to Torrance Beach and not far from the downtown shopping and dining area of Riviera Village.

That certainly couldn’t be further from the case at the moment as there are 4 homes for sale on Camino De Encanto in the Hollywood Riviera.

There are current 4 homes on the market and all are within a 1/2 block.  This is pretty unheard of an probably not ideal for any of the homes as when buyers have options….they want to negotiate.  Contact us for more information or visit our Hollywood Riviera homes for sale page to view all of the current lisitngs.