According to California Association of Realtors recent study, home prices have risen in California almost every year, over the past 42 years. In fact, home prices in California are rising again, after recent downturn. History shows that homeownerhip in California is a solid long-term investment. Locally, here in Redondo Beach and other Beach Cities, home prices are on the rise again. In fact, many sellers get multiple offers, since local South Bay real estate is in demand and the inventory of available homes is very low. Buyers often compete for a Redondo Beach house or condo, often resulting in rising home prices. Attractive lifestyle, close proximity to the beach as well as downtown Los Angeles, creates high demand for our real estate.
Archives for June 2014
So far, as of 6/1/14, total of 350 homes were sold in the first five months with the average sale price of $802,851 compared with 359 homes sold in the same period last year. The average selling price was $751,419 a year ago. Thus, although the number of home sales is down in Redondo Beach, the average price is up. Redondo Beach home buyers find it harder to find the right home due to the low inventory (see the chart below). The low inventory also results in sellers getting multiple offers. It is the seller’s market and it’s a great time to sell your Redondo Beach home. Call me today at (310)918-5027 to get a Free home evaluation to find out home much your house or condo would sell in today’s market.