Market Conditions for Redondo Beach, California Reported by Kaye Thomas, REALTOR, e-PRO Updated October 26, 2009.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

North Redondo is just chugging along like crazy. Inventory is extremely low, pending sales are going gangbusters and closed sales are consistent month after month. South Redondo numbers are good but not quite as good as those in North Redondo.

The number of townhomes for sale in North Redondo continues to be on the low side while sales are holding steady. Inventory in South Redondo has gone up slightly. Townhomes in South Redondo with ocean views are still much less expensive then their counterparts in Manhattan and Hermosa. The longer commute to the freeway makes their prices lower then those in Manhattan and Hermosa .

Current inventory for North and South Redondo as of 10/24/2009: If you would like a list of available properties e-mail me at: kaye@KayeThomas4homes.com or click the ASK ME A QUESTION link at the end of this article.( See my newsletter for "SOLD" information).

North Redondo:

Townhomes/condos: There are 50 townhomes/condos on the market. The median price is $649,000. The price per sqft is $338.

Single Family Homes: There are 37 homes fo sale. The median price is $7197,000 .The price per sqft is $496.

South Redondo:

Condos (Esplanade/Catalina): There are 33 on the market. There are 5 units under $400,000. The median price is 529,000. The price per sqft is $648.

Townhomes: There are 45 available. There are 3 under $700,000. The median price is $960,000 compared to $999,000 last month. The price per sqft is $437.

Single Family Homes: There are 44 for sale. The median price is $1,049,500. The price per sqft is $582.

New homes in South Redondo with views are priced around $1,550,000. Starter homes in the TRW and El Nido tracts in North Redondo are under $625,000. New homes in the TRW tract are now over $1,100,000. There are not many new construction units on the market as builders continue to stay out of the market. Units between 2000-2004 are selling between $800,000-$900,000. Inventory of South Redondo homes and townhouses is declining. Units with yards are still the big sellers in North and South Redondo. New homes in the Golden Hills are over $900,000. South Redondo is more expensive, although it is possible to find a small home from $725,000-$900,000. Redondo Beach is separated into two distinct areas. North Redondo is mainly east of Manhattan Beach and Hermosa Beach. There is a small part of North Redondo called the Golden Hills that is across the street from Mira Costa High School in Manhattan Beach. South Redondo is south of Hermosa Beach and west of Torrance. While both parts are "Redondo Beach", each has its own distinct personality. Real Estate prices have increased significantly in both areas. Prices in South Redondo are higher then North Redondo as it is much closer to the water. Many properties in South Redondo have ocean views. Some properties in North Redondo have a city view, but most do not have views. Many of the homes in North and South Redondo are townhouses. Redondo Beach has more property zoned for multi family use then either of its neighbors. As there is little vacant land in the South Bay, in the 1970's developers began taking advantage of the zoning to create affordable new housing. At first the townhouses were made up of three and four unit buildings. The city changed zoning laws and now allow only two units to be built on most sites. These townhouses are very similar to single family homes in size. Most rear units have a small yard. They generally share a driveway. Many are detached, some are attached at the garage. In North Redondo, new two on a lot townhouses start just under $1,000,000. An older townhome(1980-1995)will start about $640,000. These are usually at least 1500 sqft and in good condition. In South Redondo a new townhouse is $1,100,000 or more depending on location and ocean view. Some of the new ocean view townhouses are starting at $1,400,000. Older South Redondo two on a lot townhouses start at about $725,000 or more depending on location. The closer a property is to the water, the more expensive it is. Single family homes in North and South Redondo are less expensive then in Manhattan or Hermosa. A starter home in North Redondo can be purchased at $670,000 or a little less depending on lot size, but there are few available. In South Redondo, a starter can be found ranging in price from $699,000-$775,000. Much depends on lot size and location. South Redondo has some newer homes with views priced from $1,100,000-$1,900,000.
Redondo Beach is an interesting city with much history. It was the end of the famous "RED LINE" around the turn of the century. People came to South Redondo to spend time at the beach. It had a bath house, plunge and many hotels. It has one of the oldest piers in the area. It was a true resort town. Over the years, with the halting of the "RED LINE" cars, the resort atmosphere of the town faded. In the '60's the City of Redondo decided to allow developers to tear down the old downtown and build condominiums and apartment buildings along its waterfront. Today,there is no true 'Downtown Redondo". Redondo is also home to TRW Systems Inc., one of the pioneering aero space firms in Southern California. The Galleria is located at Hawthorne Blvd. and Artesia. It features Macy's and Nordstrom. Pacific Coast Hwy. in South Redondo has become an antique area. Many stores feature items from garage Chic to high quality European Antiques.

ZIP Codes: 90277, 90278

Approximate Location Boundaries: South of LAX and east of Manhattan Beach and Hermosa Beach. It is west of the 405 Fwy

Location Characteristics: Redondo is the largest of the 'Beach" towns. It stretches from The Galleria on the east to Hollywood Riviera on the south. It is separated into North Redondo ( south of Manhattan Beach Blvd. and North of 190th, and east of Aviation Blvd. South Redond is south of 190th and is located on the Pacific Ocean south of Hermosa Beach.

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