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This past February, I wrote a blog on the East Hermosa Beach new construction market. In my post, “Wild East Hermosa Beach New Construction Home Data,” I broke down the lack of supply and rising prices of East Hermosa Beach new construction. For the purposes of this post, I suggest you re-read that blog post to see the extremely strong growth in 2017 and 2018 that achieved some shockingly high prices. At the conclusion of that post, I came up with three reasons as to why pricing had climbed so drastically: The higher prices and sales reflected the true market. Lack of inventory forced buyers to pay huge prices. “High comps” pressured buyers to pay higher
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It is obvious that South Bay homes are expensive. It is even more obvious that South Bay homes with ocean views are outrageously expensive. View Homes and Price Per Square Foot If you want a view in Manhattan Beach, Hermosa Beach, or a home on Redondo Beach’s famous Esplanade, be prepared to pay well over $1,000 a square foot for these coveted properties. As you head up into the Palos Verdes Peninsula, you start to find view homes where the price per square foot (PPSF) starts to ease. For example, lower Malaga Cove has had some offerings that feel like a bargain compared to the Beach Cities. Take a look at some recent sales for instance…
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For those who are not full time in the South Bay residential real estate business, it is probably difficult to decipher that there are seven distinct MLS areas in Redondo Beach. Furthermore, some individuals may have trouble just defining the difference between North Redondo and South Redondo. If you find yourself to be one of these individuals, be sure to check out our website for an easy breakdown on the MLS areas. Click here and the link will take you to our homepage where you can then click the “Neighborhoods” tab. Click on “Redondo Beach,” and from there, explore the seven different MLS areas with information on each, the current inventory, as well as some handy
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Last June, I wrote a blog titled “Manhattan Beach Real Estate Sub-Market in Minor Correction.” In the blog post I discussed Manhattan Beach’s Sand Section walkstreets on the 100 and 200 blocks from 1st Street to 20th Street and how the sub-market was experiencing a minor correction. Now, 12 months later, it is safe to say this sub-market is in a full blown correction. Since the last blog, there has been less activity south of the pier and loads of activity between 15th and 20th Street. For this blog, I am going to focus deeper on the 15% correction between 15th and 20th and then try to bring some positive news from activity south of the
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