In the first six months on this year, we recorded another period of home price increase. Home sales were slightly slower Y-O-Y, mainly because of the very low inventory of homes for sale in Redondo Beach CA. Here is the selling price and sales breakdown and how they compare to the same period last year (this data is for single family homes only):
Total of 171 single family homes sold in first six months of this year compared to 191 a year ago (10% drop); Average price was $953,968 compared with $911,851 last year (5% price increase). Lowest priced house sold for $525,000; highest $3.9M; Last year the lowest prices house sold for $440,000; the highest for $4.2M. This year the number of foreclosures is very small in Redondo Beach and other beach cities. Redondo Beach real estate market remains to be the seller’s market. Shortage of homes for sale results in buyers often competing for homes, putting sellers in a “driver’s seat”.
Real estate market is local, prices and sales vary from neighborhood to neighborhood.
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