Subscribe to receive our weekly

South Bay Real Estate Blog

Subscribe to our blog
Receive our blog posts directly in your inbox.
* = required field

Thank you!

We'll email you our weekly real estate blog.

If you have followed my blog over the last 18 months, you know now that I love writing about new construction in north Redondo. It is easy to compare and fun to watch the market run. Those who follow the market closely know that a couple years ago brand new construction three-on-a-lot town homes were all the rage going from $700,000 to topping $1 million in just a few short years. But in a recent post, (You Can Have One or Six), things look to be plateauing due to inventory supply and buyer fatigue on record pricing quarter after quarter. Trends can change very quickly in real estate, and the market reaction has been swift in
Read More

A topic near and dear to my heart is the art and science of pricing. The biggest, most established agents claim they can sell your property because they can afford the most in marketing/advertising and have hundreds if not thousands of connections. The smaller, less established agents claim that since you are their one and only listing that they will hustle and dedicate 12 hours a day in the pursuit of selling the property through cold calls, door knocking, and letting every single person and agent in the local area know your home is a great buy.  Some of that matters and we can save that argument for another day, but the most important factor in
Read More

Cut it, cut it, cut it, cut it… As the South Bay begins to transition to a seasonally slower time in the market, we have documented areas receiving price cuts by owners looking to seriously sell before the holidays. Our main focus tends to be new construction because it is easier to compare property in larger quantity throughout South Bay sub-markets to see if it can shed some light on where the real estate market is trending as a whole. New construction can drive a market to new highs; if newly built homes are breaking records, then old tear down homes go up in value as well as existing homes. If developers can pay more for
Read More

As we roll into the Fall season it tends to be make or break time for sellers before the holidays kick in and buyers go on vacation for a few months. We have seen price cuts throughout the South Bay by serious sellers in order to find a buyer before the market goes into a traditionally slow time. Even the white hot new construction 3-on-a-lot town home market in north Redondo is showing signs of cooling and/or adjustment before the holidays. Last year (2015) we saw a new construction 3-on-a-lot sell for a low of $795,000 on Grant Avenue. This year, we saw a July 2016 Grant Ave sale push the sales increases even higher, closing
Read More

We visited a property last week in Redondo Beach that could be quite a compelling purchase for buyers currently living in a 1-bedroom or studio apartment close to the beach. Take a look at 522 S. Broadway in south Redondo, a duplex in need of some TLC from a motivated buyer. This property stands out because it is west of Pacific Coast Hwy close to the proposed Redondo Pier redevelopment, and is listed well below $1 million. For some perspective in south Redondo, the last marketed MLS residential income property below $1 million west of Pacific Coast Hwy was way back in May of 2012 at 227 Avenue B at $915,000. Now there are multiple reasons this property
Read More

A lot of our clients today are little spooked by the market. Some clients are worried about the upcoming elections, some clients are afraid of The Fed and ultra-low interest rates, and other clients are worried about local statistics of rising home inventory by the beach. Nonetheless, clients still want or need to buy real estate. So what is one to do in a tricky real estate market and uncertain macro-economic times? My advice: buy properties with growth that pay you to wait. There are two examples by the beach that offer good case studies below. And remember, there are options like these at lower price points throughout greater Los Angeles…you just have to know where
Read More

Freshly minted sale at 429 Marine Place in Manhattan Beach for $3,065,000 made headlines in the office last week after a long, drawn out listing period. This brand new construction attached townhome sits on a rare 40-foot wide lot allowing for two over-sized 2,700 sq ft homes extending between Marine Place and 23rd Street. The reason we took note was that this 2-on-a-lot property was built by a developer on spec, and the neighboring attached townhome with the address of 428 23rd Street had closed seven months earlier at a price of$3,849,000. See the difference? Maybe you do maybe you don’t. That $784,000 price disparity is large, and we figure it has to be attributed to something. And if not, was Marine Place a
Read More

The South Bay sells a lot of new construction homes. Manhattan Beach closes a great deal of new construction in the Sand and Tree Section, and even east Manhattan Beach (27 per the MLS this year). Hermosa Beach has had a number of meaningful sales of both single-family homes and town house/condos (22), quite a bit for such a small city. And Redondo Beach is a hot bed for new construction especially town homes (44), spread out fairly well between north and south of the city. But…as we march up The Hill to the Palos Verdes Peninsula, an area that has accounted for over one third of all sales in the aforementioned cities (37.5% year-to-date), you would expect an
Read More

A few months ago I wrote an article on “Sky High Hermosa Beach Apartment Building Prices.” The article focused on two completely remodeled, gorgeous apartment buildings with ocean views that came to market at record pricing. I dove into other sales trading at similar valuations and whether an investor would be compelled to own stocks or high-priced real estate by the beach. Fast forward to present day and those apartment buildings on 1536 Manhattan Ave and 1542 Manhattan Ave have sold. Those record high Hermosa Beach asking prices have officially become record high Hermosa Beach sales. For apartments, these sales are the highest ever per the MLS, even beating apartment sales much larger and on The Strand. According to
Read More

Last week a gorgeous “zen-like” contemporary home sold for a big number in the sand section of north Hermosa Beach at 230 34th Street. It closed at a whopping $5,250,000, and while we have become numb to high priced sales by the beach this property stuck out because of its size and because it is NOT located in Manhattan Beach. Although the home is brand new, it is small for the price at only 2,773 square feet. Per the MLS and excluding Strand sales, this is house broke the record for new construction price per square foot (PPSF) in the Hermosa Sand Section at $1,893/sf. The next highest PPSF sale was $1,744/sf set last year by…230 34th Street!
Read More