Is Redondo Beach, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Redondo Beach has remained a Seller's Market.
Key Takeaway
Redondo Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Redondo Beach, CA
How much do homes in Redondo Beach, CA cost?
Median Sold Price
$1,440,000
$820/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Redondo Beach have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Redondo Beach was $1,440,000 in May 2024, up 2.1% from last year, and the median price per square foot was $820.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $615K | $797.5K | +29.7% |
| 2 Bedrooms | $1.0M | $1.0M | -6.0% |
| 3 Bedrooms | $1.3M | $1.4M | +4.3% |
| 4 Bedrooms | $1.6M | $1.7M | +3.8% |
| 5+ Bedrooms | $2.4M | $2.6M | +6.8% |
Summary: Redondo Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.7%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
| Hermosa Beach | $2.1M | $2.2M | +5.9% |
| Redondo Beach | $1.4M | $1.4M | +2.1% |
| South Bay Cities | $1.7M | $1.7M | 0% |
| Torrance | $1.0M | $1.0M | -3.5% |
| Manhattan Beach | $3.1M | $2.8M | -10.9% |
Housing Supply in Redondo Beach, CA
How many homes are available in Redondo Beach, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 188 | 169 | -10.1% |
Summary: The Redondo Beach real estate market had 169 homes for sale in May 2024, a 10.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 29 | 26 | -10.3% |
| 3 Bedrooms | 68 | 52 | -23.5% |
| 4 Bedrooms | 63 | 60 | -4.8% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The Redondo Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 23.5%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 53 | -13.1% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redondo Beach, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Redondo Beach in May 2024, down by 13.1% month-over-month. Of the 53 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Redondo Beach, CA
How long does it take to sell a home in Redondo Beach, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 22 Days | -12.6% |
Summary: Homes in Redondo Beach had an average of 22 days on market in May 2024, down by 12.6% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redondo Beach are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 53 homes were sold in Redondo Beach; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.