| A month has passed since my last update on | | | | year. Sales rose modestly from 12 to 15 homes |
| Redondo Beach home sales. In my post Redondo | | | | of all types. The cost of entry to buy in here for |
| Beach February Home Sales, I suggested that | | | | the quarter was $571,000 for a single family |
| home prices, which had been relatively flat | | | | home with less than 800 sq. ft. on Ford Ave. A |
| compared to last year, might inch up a little given | | | | four bedroom home on Stanford Ave. with 2,300 |
| the encouraging escrow activity in late February. | | | | sq. ft. came in at $838,000, making it the most |
| Sure enough, the escrows that closed this past | | | | expensive priced sale for the last few months. |
| month sufficiently boosted the median sale price | | | | In general, prices rise when moving to the south |
| for the first quarter up by just under six percent | | | | part of Redondo Beach. For the area North of |
| from the same time frame last year. The median | | | | Torrance Blvd., sales rose from 17 during the first |
| price for all home types closing escrow last year | | | | quarter of last year to 24 this year. Median prices |
| was $640,000 on 135 sales. | | | | went up a few percent to $717,000. The lowest |
| This year, the number of closings has jumped to | | | | priced sale was from a one bedroom single family |
| 172 and the median price has lifted as well, | | | | home with about 500 sq. ft. of living space on |
| reaching $676,500. To add context to this within | | | | Guadalupe. This home brought $378,000. A brand |
| the beach cities, the median prices for the first | | | | new four bedroom home on Irena with 2,700 sq. |
| quarter for Manhattan Beach and Hermosa Beach | | | | ft. of living space came in at $1 million for the |
| were $1.4 million and $1 million, respectively. An | | | | most expensive sale. |
| additional sign of encouragement for the area is | | | | The area South of Torrance Blvd. did not see a |
| the fact that there are 154 active escrows and | | | | change in the number of sales from last year. |
| the level of inventory has been holding its own at | | | | Both quarters had 17 sales of all home types, but |
| 236 or just over four month's worth. Price | | | | the change in median price was the greatest |
| increases, however, have not been recognized in | | | | increase for all parts of Redondo Beach. Last year |
| all of the sub-areas of Redondo Beach. | | | | the median price came in at $630,000, but this |
| Of the eight sub-areas within Redondo Beach, six | | | | grew by 19 percent going into this year. At |
| of them have had median price increases from | | | | $750,000, this area has the second highest |
| last year. All of the areas have either maintained | | | | median price for home sales. The lowest sale |
| the number of closings or have had an increase | | | | came from a small 669 sq. ft. condo on Prospect |
| from last year. | | | | with a final price of $302,000. The highest price |
| In the Villas North area of what many times is | | | | sale was on Helberta for a 3,600 sq. ft., four |
| referred to as North Redondo Beach, the number | | | | bedroom home. The price at close of escrow |
| of closings jumped from 34 last year to 42 for | | | | was $1.925 million. |
| the first quarter. This area is one of the two in | | | | For the area West of PCH, which happens to |
| the city that had a drop in values, though it was | | | | have the lowest percentage of single family |
| no more than a percent or so. The median sales | | | | homes relative to all home types for all areas in |
| price is just below $630,000 for all home types. | | | | the South Bay, sales went up from 19 to 21. |
| Prices this quarter ranged from $284,000 for a | | | | Median prices climbed from $672,000 to $720,000 |
| small one bedroom condo on Artesia Blvd. to just | | | | for these past few months. A loft in the The |
| over $1 million for a four bedroom single family | | | | Village with only 410 sq. ft. sold for $295,000 and, |
| home on Gates Ave. The price for the condo | | | | therefore, holds title to the least expensive home |
| may very well be the lowest price for any type | | | | sale in this area. A four bedroom condo on the |
| of home in the entire South Bay this past quarter. | | | | Esplanade managed to take the top prize with a |
| On the opposite side of Artesia Blvd. the Villas | | | | $1.575 million closing price. |
| South area experienced a jump in closed sales | | | | Last, but not least, is the portion of Hollywood |
| from 23 to 30 for the quarter. Prices ticked up by | | | | Riviera in Redondo Beach. Sales doubled from last |
| a thread to $637,000. A 1,200 sq. ft. home sold | | | | year, though from a low six to 12. The median |
| for $386,500, making it the lowest priced sale | | | | price numbers may not be very credible, |
| here for the quarter. It was a townhome with | | | | however, given these low numbers of homes |
| 3,000 sq. ft. on Blossom Lane that took the top | | | | sold. The median price for the last quarter was |
| spot with a final price of $965,000. | | | | the highest in all of Redondo Beach by a wide |
| A third area in North Redondo Beach, El Nino, also | | | | margin, coming in at $924,000. The lowest sale |
| had increases in both median price and number of | | | | price for here was $625,000 for a three bedroom |
| sales, but not a significant amount. Closed sales | | | | townhome with close to 1,900 sq. ft. on Palos |
| went from seven to 11, while the median price | | | | Verdes Blvd. The most expensive sales price in all |
| went up one percent to $555,000. The lowest | | | | of Redondo Beach for the quarter was $1.972 |
| priced sale for the quarter was for $486,000 for | | | | million for a 4,000 sq. ft. home with six bedrooms |
| a two bedroom townhome on Meyer Lane. On | | | | on Calle Miramar. |
| the other hand, the most expensive sale was just | | | | The volume of sales and the increase in median |
| over $1 million for a five bedroom single family | | | | sales price for the city seem to indicate that |
| home with 3,500 sq. ft. on Ives Lane. | | | | Redondo Beach may have turned the corner |
| The priciest area on the north side of town is | | | | from a very challenging 2009. We'll see if the |
| Golden Hills, with a recent median sales price of | | | | impressive backlog of homes in escrow can widen |
| $726,000. This is up solidly from $648,000 last | | | | the gap between this year and last year. |