Novak Schultz Real Estate Group Blog

April 1, 2024

Discovering Hollywood Riviera: Unveiling South Bay's Hidden Gem

If you are looking to live in a quiet and peaceful beachside Southern California community in Los Angeles than Hollywood Riviera may be the perfect place for you. You may have never heard of this charming beach town because it is a hidden gem, but today is your lucky day because we are unveiling the Hollywood Riviera, giving you insight into the lifestyle, pricing and everything that you would want to know if you are planning a move to the Hollywood Riviera!

Hollywood Riviera

The Hollywood Riviera is located in the most southwestern part of Redondo Beach just north of Palos Verdes. You have Torrance Boulevard to the north, Hawthorne Boulevard to the east, PCH to the south, and West Palos Verdes to the west. Technically, the Hollywood Riviera is located in Torrance, however, many of the homes actually have a Redondo Beach address with a 90277 zip code, but the Hollywood Riviera is governed by the city of Torrance and children in the Hollywood Riviera attend Torrance Unified public schools. 

Hollywood Riviera Map

Hollywood Riviera History

Hollywood Riviera Planning 

The Hollywood Riviera went under development in 1927. After the developer Clifford Reid went on a trip with his wife to the French Riviera, he began developing the 604 acres that is now known as the Hollywood Riviera. He came up with the name because he thought the area reminded him of his travels in France with cliffside homes and views. He was also enamored with Hollywood so that’s how the Hollywood Riviera was born! 

The Hollywood Riviera Newspaper Article

The Allure of the Hollywood Riviera

The Hollywood Riviera gets some of the best views in the South Bay. Many homes enjoy a combination of city lights and sweeping views of the ocean that stretch as far as Malibu. It is also one of the best places to watch a California sunset.

 

Something unique about living in the Riviera is that the community has a Hillside Overlay area, which prevents overdevelopment of the neighborhood that could potentially block views or encroach on privacy of current residents. There are building restrictions in place for the height and size of homes being redeveloped.

Hollywood Riviera Hillside overlay Map  

Another reason people love the Hollywood Riviera is that it is a very peaceful and quiet neighborhood with so much charm and character. As you drive through the neighborhood, you will notice a mix of home styles that include Mediterranean, Spanish, contemporary and modern designs with tree lined streets. There are no major streets running through the neighborhood and numerous streets end in cul-de-sacs, which limits thru-traffic. The neighborhood is primarily made up of owner occupied single family homes that range from 1000 SF to over 3000 SF. The average lot size in the Riviera is about 7500 SF, which is considered to be a larger than typical lot for the proximity to the beach. Residents enjoy that “park-and-walk-everywhere” ocean-view lifestyle at a significant value over traditional “Sand Section” living in neighboring Manhattan Beach and Hermosa Beach. 

Top Rated Schools In the Hollywood Riviera

 

Another perk of living in the Hollywood Riviera is you are located in the Torrance Unified School District, which consistently ranks as one of the top school districts for athletics and academics in the Los Angeles area. Assigned schools, Riviera Elementary, Edward J. Richardson Middle and South High School, have 8, 9 and 10 ratings on greatschools.org.

South High School

Real Estate Snapshot: Hollywood Riviera Market Trends

How much does it cost to live in the Hollywood Riviera? Homes in the Riviera sell on the low end at $1M for a major fixer or tear down property up to $18M for an oceanfront 15,000 SF home on a large lot with a median sales price right around $2M. The median price/square foot is around $1050/SF.  

The market trends here are indicative of a community that is in high demand with Days on Market averaging 24 days and homes in the Hollywood Riviera selling on average for 102% of their list price in 2023.

Access to Greater LA

 

Something that could be a downfall of living in the Hollywood Riviera is that you are approximately 20 to 30 minutes to a freeway depending on traffic. LAX is a 30-40 minute drive so if you commute to work outside of the South Bay, travel frequently or your go to hang out is another area of Los Angeles you should keep that in mind. However, if you spend the majority of your time in the South Bay then you have everything that you need close by. 

Google Map Drive

 

Riviera Village

Riviera Village

Riviera Village is the Hollywood Riviera’s downtown area and is a huge draw for locals. It is a popular hub for community events, boutique shopping and dining options, and daily conveniences.

Riviera Village is home to over 300 one-of-a-kind boutiques, restaurants, workout studios, galleries, and salons so there’s never a shortage of things to do, see or eat.

Every Sunday you can check out the Riviera Village farmers market from 9-2. The Riviera Village also has a Trader Joe’s, but surrounding the Hollywood Riviera you have every restaurant, grocery and store that you can imagine. You have spas, gyms, athletic clubs, literally everything! You are less than 10 minutes to Del Amo Fashion Center, less than 10 minutes to the beach, 15 minutes to Hermosa Beach, 25 minutes to Manhattan Village and Manhattan Beach so everything you need is close by. 

Culinary Hotspots

Salt and Pearl Riviera Village 

Locals love going to the Riviera Village to dine. There are too many great restaurants to name, Little Sister and Michelin mentioned Gabi James and a brand new sea food restaurant, Salt & Pearl are must try spots!

Outdoor Leisure and Lifestyle

Terranea 

If you like the outdoors and hiking you have amazing hiking nearby in Palos Verdes with amazing views. Terranea is one of my favorite resorts in all of Southern California and has amazing views, pools, spa, entertainment, dining options and golfing. It is a great place to take friends and family when they visit or an amazing hang out spot as a South Bay local.

Family Friendly Neighborhood: Green Spaces and Parks

The Hollywood Riviera also has great parks for families. You have Los Arboles Park also known as rocket ship park, which is named after the four level metal rocket replica. You get epic views of the city and coastline.

Rocket Ship Park  

 

El Retiro Park is 5 acres and has a playground, barbeques, tennis courts, baseball diamond, basketball courts, picnic area and a library. 

El Retiro Park

Summary

 

Hollywood Riviera offers a perfect blend of coastal beauty, community charm, and recreational opportunities that make it a hidden gem of Southern California. Whether you're seeking relaxation, adventure, or cultural enrichment, this enchanting neighborhood has something to offer everyone who ventures to its shores.

Posted in Torrance
Feb. 25, 2024

Discover Serenity in the City: A Guide to Tree Section Manhattan Beach Living

Manhattan Beach

Manhattan Beach is located within the South Bay region of Los Angeles County just 4 miles south of LAX airport along the Pacific Coast. Manhattan Beach is one of the most convenient beach cities for commuters because you have quick freeway and airport access. 

Manhattan Beach Map

Manhattan Beach is also one of the most beautiful beaches in Southern California and repeatedly voted one of the best places to live in the country. Manhattan Beach was recently ranked one of the best suburbs to live in Los Angeles and raise a family and consistently ranks as one of the best suburbs for young professionals according to niche.com because Manhattan Beach has something for everyone. You have great beaches, amazing restaurants, shopping and it is a tight knit community with a laid back vibe and tons of activities and events like Hometown Fair, volleyball tournaments and farmer’s markets to name a few. There are also so many family friendly activities and of course great schools so it appeals to everyone.  

I think the number one reason why people live in Southern California- Manhattan Beach included is the weather. Manhattan Beach gets almost 300 days of sunshine each year with year round temperatures in the 70s in the South Bay.

The Tree Section

Manhattan Beach Tree Section Map

What makes the Tree Section Manhattan Beach a desirable place to live? In our exploration of this neighborhood, we’ll provide you with a direct snapshot of the community, local culture, and recent real estate trends. This area offers a unique combination of community warmth and metropolitan convenience, and our guide is designed to help you understand exactly what life is like in one of Manhattan Beach’s most beloved locales. The Tree Section in Manhattan Beach is named for their tree street names such as Pine, Elm, Walnut, Palm, etc. The tree section is the largest suburban neighborhood west of Sepulveda and is located with Rosecrans to the east, Manhattan Beach Blvd. to the west between Sepulveda and Valley/Ardmore and Sand Dune Park to the west. The tree section is primarily zoned for single family and new homes are typically 3000-4000 SF on 4000-5000 SF lots. These homes typically have a traditional floor plan and are great for people who enjoy indoor/outdoor living as most homes in the tree section have yards. There are smaller homes from the 1940s and 1950s in the tree section as well, but many of those homes are being redeveloped or renovated as they sell.

The American Martyrs Section

American Martyrs

Within the Tree Section, there are micro-neighborhoods. The American Martyrs section of the Tree Section is a prestigious area surrounding the American Martyrs church consisting of about 10 square blocks. The Martyrs area is located between Pacific Avenue to the east, Valley/Ardmore to the west and north, and Manhattan Beach Blvd. to the south.

American Martyrs Map

Homes in this section of the tree section see the highest values especially homes closer to Downtown Manhattan Beach on the hills because lot sizes are larger typically between 6000 and 8000 SF and you can have ocean views in the hilly areas of the Martyrs area just up from Ardmore unlike the majority of the homes in the Tree Section. Laurel Avenue and Agnes Road are considered to be the best streets in the Tree Section neighborhood. You are walking distance to the private school at American Martyrs as well as Pacific Elementary School.

The Gas Lamp Section

Manhattan Beach Gas Lamp

Another sought after micro-neighborhood of the Tree Section is the Gas Lamp section, which gets its name from the original turn-of-the-century gas lamps that still burn at night as reminders of the original Manhattan Beach streets. There are only a few hundred homes within the Gas Lamp section between 21st and 24th Street and the majority of the homes are built on 30x90 foot lots and range from newly built homes to post-war homes from the 1940s. The Gas Lamp Section is a great choice for anyone that wants to live close to the beach, but not directly on the beach.

Manhattan Beach Gas Lamp Map

Family-Friendly Environment

Beyond the serene streets and charming architecture, the Tree Section in Manhattan Beach fosters a family-oriented atmosphere. Block parties and community events are a frequent sight, further strengthening the neighborhood’s appeal to families. The presence of multiple California Distinguished Schools within the Tree Section, such as Grand View Elementary and Pacific Elementary, adds to its attractiveness, making it an ideal place for setting down family roots.

But the family-friendly environment doesn’t stop at the neighborhood boundaries. Residents enjoy the dual benefits of a tranquil residential area with easy access to beaches, dining, and shopping nearby. Residents can spend the day at Live Oak Park, a family-friendly venue that hosts annual community events like the Manhattan Beach Hometown Fair, which features activities and crafts that attract families throughout the area. Alternatively, you can relax at the beach, just a short walk away. Not merely a neighborhood, the Tree Section offers a lifestyle that attracts families who desire a perfect blend of relaxation and fun.

Housing Market Snapshot: Tree Section Real Estate Trends

Pricing widely varies in the Manhattan Beach Tree Section depending on the size, condition and location of the home. In 2023 the lowest sale in the Manhattan Beach Tree Section was just over $1.4M for a 3 Bed | 2 Bath | 1200 SF home on a 3700 SF lot on Rosecrans to $10.775M for a 5 Bed | 8 Bath | 6100 SF ocean view home with a pool in the American Martyrs section, but the median sold price in the Manhattan Beach Tree Section in 2023 was just shy of $3M with the average price per square foot at $1371.

Median Home Prices in Tree Section

In January 2024, the median home price in the Tree Section was $3.2 million, showing a 4.8% increase from the previous year. This price rise reflects the neighborhood’s growing popularity and the quality of life it offers. The real estate market here has been fairly competitive with homes generally selling for about 2% below list price and typically going pending in around 50 days.

Properties considered ‘hot homes’ may sell at approximately list price and can go pending in about 22 days, indicating a strong demand for these homes. So, If you would like to be added to our exclusive list of off-market listings in Manhattan Beach send us an e-mail to ashley.novak@compass.com titled "Manhattan Beach Exclusive" and we will add you to our list!

Outdoor Leisure and Lifestyle in Tree Section

Manhattan Beach Surfers

While the Tree Section’s serene streets and diverse housing options are enticing, the neighborhood’s outdoor leisure and lifestyle offerings are equally compelling. Residents have easy access to a variety of parks with amenities including tennis courts, basketball courts, and picnic areas for outdoor activities and leisure. Whether you’re a sport enthusiast, a nature lover, or simply someone who enjoys a leisurely stroll, the Tree Section has something for everyone.

The outdoor fun doesn’t stop at the parks. Located a stone’s throw from the beach, the Tree Section offers residents a plethora of beach activities. From surfing and beach volleyball to simply soaking in the sun, there’s always something fun to do.

Parks and Green Spaces

Manhattan Beach Live Oak Park

Let’s take a tour of the parks and green spaces, and explore the nearby beaches and activities that establish the Tree Section as a paradise for outdoor enthusiasts. Located within the Tree Section, Live Oak Park is a central hub for family and community activities. With amenities such as:

  • baseball fields

  • tennis courts

  • a dog park

  • a community center

There’s always something to do. The park is well-equipped to support various recreational activities, with clean bathrooms, drinking water facilities, and easy parking.

Additionally, residents have access to other outdoor spaces such as Sand Dune Park and the Green Belt, which are conveniently located for engaging in diverse recreational pastimes.

Manhattan Beach Green Belt

So, whether you’re looking to play a game of tennis, take your dog for a walk, or simply enjoy a picnic with your family, the Tree Section’s parks and green spaces have you covered.

Beach Proximity and Activities

Manhattan Beach El Porto

Living in the Tree Section means having easy access to some of the most beautiful beaches in Los Angeles while still remaining relatively undiscovered compared to other popular beaches like Santa Monica. Residents can easily reach nearby beaches such as Manhattan Beach, Hermosa Beach, and Redondo Beach, which are ideal for a variety of outdoor activities.

So, whether you’re a surfer, a beach jogger, or someone who just loves the sand between your toes, the Tree Section’s proximity to the beach offers endless possibilities for outdoor fun.

Education Excellence Near Tree Section

Education is a key factor for families when choosing a place to live, and the Tree Section doesn’t disappoint. The local Manhattan Beach Unified School District is highly regarded, with schools consistently ranking in the top of state and national performance lists. Grand View Elementary, located within the Tree Section, has even been awarded the National Blue Ribbon School designation. And it’s not just about primary education. Residents of the Tree Section also have convenient access to distinguished higher education institutions such as UCLA and USC.

Top-Rated Schools in the Manhattan Beach Tree Section

The Manhattan Beach Unified school district consistently ranks as one of the top school districts in the Los Angeles area. The Manhattan Beach Tree Section is home to several highly ranked schools, including:

  • Pacific Elementary (California Distinguished School)

  • Grand View Elementary

  • Manhattan Beach Middle School

  • Mira Costa High School

  • American Martyrs School (Private Institution)

With such top-notch schools in its vicinity, the Tree Section ensures that your children receive a quality education that sets them up for success.

Higher Education Access

Not just content with providing excellent primary and secondary education, the Tree Section also offers convenient access to prestigious universities. With UCLA and USC within reach, Tree Section residents have a wide range of higher education options to choose from.

So, whether your child is a future Bruin or Trojan, living in the Tree Section means they’re never far from achieving their academic dreams.

Local Commuting Options

Whether you prefer to drive, bike, or walk, getting around the Tree Section is a breeze. The neighborhood’s location away from main thoroughfares means lower traffic levels, facilitating easier car commutes. Quieter streets in the Tree Section also enhance the experience for bicyclists and pedestrians alike.

Access to Greater LA

For those who need to travel beyond the neighborhood, the Tree Section offers convenient access to major freeways such as:

  • Harbor (I-110) Freeway

  • San Diego (I-405) Freeway

  • Gardena (SR 91) Freeway

  • Century (I-105) Freeway

A Taste of the Town: Dining and Shopping in Tree Section

Metlox, Manhattan Beach

While serene streets, top-notch schools, and easy transportation are significant factors, let’s not forget about the fun stuff – dining and shopping. In the Tree Section, residents benefit from close proximity to downtown Manhattan Beach and Metlox, which is a shopping and dining destination. Residents have easy access to a variety of shops, restaurants, and the beach. Whether you’re a foodie craving a culinary adventure or a shopaholic looking for the next retail therapy session, the Tree Section has got you covered.

Culinary Hotspots

When it comes to dining, Manhattan Beach doesn't disappoint. Whether you’re looking for a cozy brunch spot, a lively lunch venue, or a romantic dinner setting, you’ll find it here. Local gems like Michelin Bib Gourmand award winning MB Post, and Michelin recommended Esperanza Cocina de la Playa , and The Arthur J are just a few of the culinary hotspots that have put Manhattan Beach on the foodie map. Each of these restaurants offers a unique dining experience.

Retail Therapy Nearby

The Point Manhattan Beach

If shopping is more your thing, you’re in for a treat. The Tree Section offers an array of retail therapy options, including:

  • Manhattan Village

  • The Point in El Segundo

  • Plaza El Segundo

  • Metlox (Downtown Manhattan Beach)

These shopping destinations cater to a variety of preferences, with boutique stores offering a distinct selection of fashion, home goods, and specialty gifts, as well as larger shopping centers housing a mix of retailers, eateries, and entertainment options.

So, whether you’re on the hunt for the latest fashion trends, searching for the perfect gift, or simply looking to unwind with some retail therapy, Manhattan Beach has you covered.

Why Manhattan Beach Tree Section Stands Out

There are several factors that set the Tree Section apart. The neighborhood is celebrated for its:

  • Annual community events, such as the Manhattan Beach Hometown Fair, which fosters a tight-knit community spirit unique to the area

  • Moderately sized lots offer a less dense neighborhood with more space between properties compared to the Sand Section, providing residents with a sense of privacy and serenity

  • Distinctive rustic charm, with certain parts of the Tree Section even lacking sidewalks

So, when it comes to choosing a place to call home, the Tree Section truly stands out in the South Bay area.

Key Takeaways

  • The Manhattan Beach Tree Section offers a small-town vibe with tree-lined streets, top schools, and a tight-knit community, perfect for families looking for a peaceful yet connected life.

  • The real estate market in the Tree Section is booming, with the 2023 median home prices around $3 million and a mix of properties from classic beach cottages to modern builds, reflecting the area’s desirability.

  • Residents enjoy an active outdoor lifestyle with easy access to parks, beaches, and a variety of leisure activities, complemented by a vibrant dining and shopping scene.

Summary

It’s clear that this neighborhood offers more than just a place to live. With its serene streets, family-friendly environment, diverse housing options, top-notch schools, easy transportation, and vibrant dining and shopping scene, the Tree Section offers a unique lifestyle. Whether you’re a family seeking a safe environment, a young professional looking for a vibrant community, or a retiree in search of tranquility, the Tree Section has something for everyone.

So, are you ready to discover serenity in the city? With its unique charm, tight-knit community, and unrivaled lifestyle offerings, the Tree Section invites you to experience a slice of suburban bliss in Manhattan Beach.

Frequently Asked Questions

What makes the Tree Section unique?

The Tree Section is unique because of its serene, tree-lined streets, family-friendly environment, top-notch schools, diverse real estate options, and close-knit community spirit. It's a great place to live for everyone from families to retirees.

What outdoor activities are available in the Tree Section?

You can enjoy outdoor activities like tennis, beach volleyball, scenic walks, and community events in the Tree Section, thanks to its parks, green spaces, and proximity to beaches. So, there's always something to do!

Posted in Manhattan Beach
Oct. 24, 2023

Selling Your Los Angeles Area Home Successfully

Download our FREE guide and workbook for our Successful Selling Secrets!

 

1. Step by Step Process to Sell YOUR Los Angeles area Home

We take a multi-faceted approach and through the combination of technology, best-in-class marketing, and our national network, we can ensure your home is in front of the most interested buyers as quickly as possible. On top of our dedicated marketing manager, COMPASS provides marketing and advertising experts including strategists, graphic designers, PR experts, data analysts, digital marketing gurus and dedicated luxury advisors hired from top luxury brands like Ralph Lauren, Conde Naste and Tiffany's to name a few. Together, we work to ensure your property is marketed beautifully and effectively. 

2. Digital Advertising

For every listing, we invest in digital advertising so your property is seen EVERYWHERE! This ad is pushed out to a 15 mile radius of your property so if someone didn't see the property on an app or receive it from their agent they will see it through social media. The below ad for one of our listings had over 16K impressions, 56 reactions, comments and share and 817 clicks. 

3. Short Form Social Media Examples

 

4. Long Form Video Examples

 

5. Social Media Reach

 

6. Weekly Listing Performance Insights Report

Through Compass Collections and Insights, we are able to view live market activity to track how our listings are performing online, measure engagement and track success of our digital marketing campaigns. We adjust our strategy based on the online performance of our listing with the assistance of our dedicated marketing manager. Transparency is important to us and our clients appreciate that they get a weekly report so they stay informed throughout the entire listing process. HERE is an example of the weekly report our clients receive. 

7. Media

Our professional photographer and videographer takes photos, videos (short and long form) and a Matterport 3D Tour. All of the media is used on multiple channels including Instagram, TikTok, Facebook, Google, LinkedIn, etc. For eligible properties, we work with our PR team to get features for additional exposure. 

  1. 1602 Loma Drive DIGS Cover Feature
  2. 4035 Mount Vernon Drive Dwell Feature (Over 1M Online Impressions)
  3. 2317 Ralston Lane DIGS Cover Feature
  4. 4035 Mount Vernon Drive Realtor.com Feature

8. Preparation

COMPASS Concierge and COMPASS Revive are benefits to our clients to cover the upfront costs of moving and preparation. COMPASS will pay for the cost of moving, storage, organization, staging, cosmetic renovations, landscaping, inspections, repairs, etc. so our clients can prepare their home for the market to receive the highest rate of return when selling without the huge upfront expenses! You pay for the costs at the close of escrow out of your proceeds. If interested, we can explain these programs more in-depth and see which program is best for you. Our clients increase their sales price exponentially when their homes are properly prepped for the market and the listing rolls out "Red Carpet Ready" We advise our clients on the changes that should be made to get the highest ROI and refer affordable, trustworthy vendors. We are also available to help with project management if needed. 

For a LIMITED TIME, we are offering all of our clients $5000 towards the cost of home staging so your home can stand out against the competition!

9. Client Reviews

Check out what our clients have to say on GOOGLE!

Posted in Selling Your Home
July 28, 2023

Benefits of Staging a Home

Staging and paint are two of the most inexpensive fixes to get your home ready for the market if you want to maximize your profits! We also have a wonderful program that requires a minimal upfront investment and allows you to pay the remainder of the balance at closing, which makes prepping your home for the market a no brainer☺️🏡 Also, there are partial staging options so your home looks red carpet ready but you can still live in the property! 

Benefits of Staging🖼️

☑️ Buyers can visualize the space, which leads to more offers. Most buyers do not have a lot of imagination so they can’t picture themselves living in a vacant home and typically they think the space is smaller than what it actually is😢

☑️Staged Homes spend 73% less time on the market than non-staged homes. I was selling a development with three almost identical units with only one unit staged. The staged unit sold within two weeks and the others sat. As soon as we moved the staging to the next unit the unit sold within two weeks and when we moved to the final unit the same thing. This was eye opening because these were almost identical units and they had a model unit to reference! 

☑️Staged Homes typically get up to a 25% higher sales price than non-staged homes. We live in the Pinterest and Instagram era where aesthetics are very important especially to the Millenial and Gen Z generations. 

Staged by AV Home Staging

Posted in Selling Your Home
July 26, 2023

1953 Richard Dorman Los Angeles "Home of Imagination" Lists for $1.85M in View Park

 

4035 Mount Vernon Drive is a piece of Los Angeles and architectural history and truly an invaluable piece of property. This mid-century modern home was designed by FAIA award-winning architect Richard Dorman and was known as the “Home of Imagination” when it made its debut in 1953. This home has only changed hands one time and the integrity and originality of its timeless design is still intact and is now ready for its new owner and 2023 revival as it enters its 70th anniversary. 

 

As you enter the property, you are greeted with a well-manicured private courtyard perfect for entertaining or relaxing. This timeless home offers 4 bedrooms/3 bathrooms and 3375 SF on an almost 10,000 SF lot centrally located in Los Angeles in the historical neighborhood of View Park.

 

As you walk through the front door you are greeted with a glass enclosed foyer and original brickette flooring, which are key components in the home’s bi-nuclear design and divide the East Wing from the West Wing of the home. 

 

The West Wing of the home encompasses the living and entertainment areas of the home that include oversized living and dining spaces that boast a stone floating hearth, floor to ceiling windows overlooking a huge grassy private backyard, large skylights for added natural light and exposed ceiling beams. The conscientious design allows “compass vision” to every part of the house from the kitchen so you can enjoy an open floor plan experience while maintaining the integrity of the rooms. The kitchen is complete with birch cabinets and a dumbwaiter built into the birch cabinet in the breakfast area making it easy to serve the lower floor.

The East Wing has three large bedrooms and two baths including an amazing 15x18 foot primary suite w/a dressing area and a private garden.

A seven-foot cantilevered balcony has been enclosed and overlooks the almost 10,000 SF backyard below and also provides an interior entry to the downstairs one bedroom studio below, which provides easy access to the large backyard that is nestled below the house providing privacy and plenty of room for a pool! 

This is a once in a lifetime opportunity to own a Mid Century Modern Marvel!

June 27, 2023

Redondo Beach Home Buying Process

Find Redondo Beach Homes for Sale - Real Estate Guide to Redondo Beach CA

Dreaming of owning a piece of coastal paradise in Redondo Beach, California? You’re not alone! With a booming real estate market, Redondo Beach offers a stunning variety of single-family homes, condos, townhomes, and luxury properties. But how can you navigate this exciting market, secure the best financing options, and ensure a seamless home buying process for Redondo Beach homes for sale? In this comprehensive guide, we’ll walk you through every step of the journey, from discovering the perfect property to closing the deal, so you can turn your coastal dreams into a reality.

Short Summary

  • Discover Redondo Beach CA Real Estate with a variety of property types, top-rated schools and an active outdoor lifestyle.

  • Utilize online real estate websites and engage with a local agent to find the best home for your family.

  • Understand components of offer, negotiation strategies & necessary paperwork/documentation when purchasing your dream home in Redondo Beach.

Discover Redondo Beach CA Real Estate

beach, pier, sunset

Redondo Beach, known for its picturesque coastline and vibrant lifestyle, has become a sought-after destination for homebuyers. From cozy beachside cottages to luxurious oceanfront estates, there’s something for everyone in this charming seaside community. Whether you’re a fan of surfing, volleyball, or simply soaking up the sun, living in Redondo Beach means embracing an active, outdoor lifestyle. Redondo Beach is continually ranked as one of the top Los Angeles suburbs for families and young professionals.

But how do you find your perfect home in this diverse market? Start by exploring the various types of properties available in Redondo Beach, such as single-family homes, condos, townhomes, and luxury properties. Each property type offers unique benefits and features, so it’s essential to consider your specific needs and preferences when browsing the listings.

Redondo Beach’s highly regarded school systems and family-friendly atmosphere make it an ideal place for families seeking a safe and nurturing environment to raise their children.

Single-Family Homes

Single-family homes in Redondo Beach come in a variety of styles, size and age ranging from larger new construction homes to smaller, historic beach bungalows. These homes offer a range of floor plans, finishes and pricing. 

The pricing range for single-family homes in Redondo Beach varies significantly depending on the size, location, and features of the home. As of May 2023, the median price per square foot for single family homes was $1,063.00/SF and the median sales price was $1.55M. With such a wide spectrum, it’s crucial to work closely with a local real estate agent to help you navigate the market, search for properties, submit offers, and negotiate the best deal for your dream home. Below I have included videos of a variety of different types of homes ranging from a 3 BR/2 BA/1350 SF renovated North Redondo Beach home built in 1953 for listed for $1.3M to a 5 BR/5.5 BA/4583 SF brand new construction California Coastal that sold for $3.79M so you get a better idea of different price points of single family homes in the North and South Redondo Beach neighborhoods. 

This 3 BR/2 BA/1350 SF home is situated on a 5600 SF lot in the family-friendly El Nido neighborhood of North Redondo Beach. This home was renovated top to bottom and was move-in ready condition for its next owner listed at $1.3M and sold for $1.284M. In addition to top-rated schools, this home's convenient location is less than 10 min from the beach, close to shopping and restaurants, and less than 1 mile from the freeway.

This 5 BR/5 BA/3463 SF coastal craftsman new construction home on a 4144 SF lot was listed for $3.35M and sold for $3M. This home was located in the very walkable North of Torrance Blvd. section of South Redondo Beach and located just a few blocks from the beach, Redondo Beach pier, shops, restaurants and top-rated Beryl Heights Elementary, Paris Middle School and Redondo Union High School. 

To find the perfect single family home for your needs, you can browse listings HERE or contact us to get access to our exclusive COMPASS app that also includes our Private Exclusive listings that cannot be seen on publicly syndicated real estate websites. 

Condos and Townhomes

For those seeking a more low-maintenance lifestyle, Redondo Beach offers a variety of condos and townhomes to choose from. You can find unique options such as single-level condos, 2-on-a-lot, and 3-on-a-lot townhouse properties, which are common in the Redondo Beach real estate market. These properties provide a unique blend of convenience, modern amenities, and access to the vibrant Redondo Beach community.

The pricing range for condos and townhomes in Redondo Beach varies significantly depending on the size, location, and features of the home. As of May 2023, the median price per square foot for condos and townhomes was $769/SF and the median sales price was $1.31M. 

Below I have included videos of a variety of different types of homes ranging from a 3 BR/2.5 BA 1450 SF North Redondo Beach detached townhouse built in 1979 for just over $1M to a 4 BR/3.5 BA/2600 SF new construction detached townhouse that was listed in North Redondo Beach for $2.1M. 

This 3 BR/2.5 BA 1450 SF North Redondo Beach detached townhouse built in 1979 was listed for $1.049M and was recently updated and move-in ready for its new owner! You are conveniently located close to the beach, soon to be renovated South Bay Galeria, Target and many other restaurants, stores and shopping centers along Aviation and Artesia. This neighborhood is located in the highly rated Redondo Beach Unified School District and children living in Villas South attend Birney Elementary, Adams Middle School and Redondo Union High School.

We take you on a tour of a 4 BR/3.5 BA/2600 SF new construction Redondo Beach townhouse located in the sought after neighborhood of Villas South in North Redondo Beach. This home was listed for $2,120,000 and sold for $2,020,000. You are located less than 2.5 miles to the Hermosa Beach Pier, close to LAX, easy access to freeways and located in the award-winning Redondo Beach Unified school district. This townhome is detached on a 2-on-a-lot property and has a traditional floor plan, modern finishes, private backyard, open floor plan, beautiful finishes, and great views. 

This 4 BR/5.5 BA + loft new construction townhouse was listed for $1.9M and sold for $2M. This townhome had one shared wall on a 3-on-a-lot property and has modern finishes, private backyard, open floor plan, beautiful finishes, and rooftop deck. You are located less than 2 miles to the Hermosa Beach pier in the award-winning Redondo Beach Unified School District.

To find the perfect condo or townhome for your needs, you can browse listings below or contact us to get access to our exclusive COMPASS app that also includes our Private Exclusive listings that cannot be seen on publicly syndicated real estate websites. 

Luxury Properties

A stunning view of one of the Redondo Beach homes for sale in the luxury properties section.

Redondo Beach is also home to an array of stunning luxury properties, perfect for those seeking an elevated living experience. Options include beachfront homes, modern villas, high-end condos and luxury homes. These properties often boast breathtaking ocean views and/or luxurious amenities such as private pools, outdoor kitchens, and more.

Ocean view homes in Redondo Beach offer captivating views and are generally more expensive than other properties nearby. High-end condos, townhomes and luxury homes also provide top-notch amenities and awe-inspiring ocean vistas, making them a popular choice for discerning homebuyers.

This home is a newly constructed 5 BR/5.5 BA/4583 SF luxury California Coastal on a 7500 SF lot in the desirable neighborhood of El Nido in North Redondo Beach! This property is an entertainer's dream and as of May 2023 is the highest single family home sale in North Redondo Beach at $3.79M. 

Search Redondo Beach Listings

Beautiful Redondo Beach Backyard with a Pool

Now that you have an idea of the types of properties available in Redondo Beach, it’s time to start your search. The most effective methods for locating Redondo Beach listings is partnering with a local Redondo Beach real estate agent who has expertise in the area and can ensure a smooth and successful home search process. Local real estate agents have access to off-market listings and know about properties before they come to the market, which helps in the competitive real estate market in Redondo Beach.

When searching for Redondo Beach listings, it’s crucial to consider factors such as school districts and neighborhood information to find the most suitable home for your needs. The Redondo Beach Unified School District serves the area, and its reputation for high-quality education makes it an attractive choice for families ranking consistently in the top 10 school districts in Los Angeles. By taking these factors into account, you can find a home that not only meets your aesthetic and functional preferences, but also provides a nurturing environment for your family.

Online Property Search Platforms

Online property search platforms are an invaluable tool for finding your dream home in Redondo Beach. These websites offer users the ability to search for real estate listings in a specific area, compare prices, and view photos and details of the properties. Popular platforms for Redondo Beach listings include Zillow and Redfin, providing a comprehensive and user-friendly experience for homebuyers. Through Compass, we have an app that includes off-market listings through our COMPASS private exclusive network.

The advantages of utilizing online property search platforms include the ability to quickly and conveniently search for real estate listings, compare prices, and view photos and details of the properties. By using these platforms in conjunction with the expertise of a local real estate agent, you can ensure a seamless and efficient home search process in Redondo Beach.

Working with a Local Broker

Collaborating with a local broker in Redondo Beach can offer you their comprehensive understanding of the regional real estate market and potential issues that could occur. They can guide you through the entire home buying process, from searching for properties to closing the deal. To find a local broker, you can search online, obtain referrals from acquaintances, or reach out to a local real estate association.

When evaluating a local broker, it is important to consider their experience, credentials, and reviews from past clients. By working with a trustworthy and experienced broker, you can successfully navigate the Redondo Beach real estate market and find your dream home.

An experienced and knowledgable local broker is also important because Los Angeles is a massive city and the hyper local markets and regions vary from city to city. 

School Districts and Neighborhood Information

School districts and neighborhood information play a vital role in finding the perfect home for your family. The Redondo Beach Unified School District is the educational institution providing services to the area of Redondo Beach, CA. By considering the quality of local schools and the safety of the neighborhood, you can ensure a nurturing environment for your children and peace of mind for yourself.

Additional information regarding school districts and neighborhoods in Redondo Beach, CA can be obtained from the Redondo Beach Unified School District website, GreatSchools.org and Niche.com. By thoroughly researching and considering these factors, you can make a well-informed decision when choosing a home in Redondo Beach. Below I have included videos with a deep dive into the North Redondo Beach and South Redondo Beach neighborhoods. 

Home Financing

Handshake after a Negotiation

Purchasing a home in Redondo Beach is not only about finding the perfect property, but also about securing the best financing options. Various financing options exist for home purchases, such as conventional loans, fixed-rate mortgages, adjustable-rate mortgages, government-backed loans, jumbo loans, and personal loans. By understanding the different types of home financing available, you can choose the most suitable option for your needs. We are aligned with several different lenders that provide a plethora of loan programs and options for our clients.

The pre-approval process is another crucial aspect of home financing and involves a lender evaluating a potential borrower’s creditworthiness and financial situation to determine their eligibility for a loan. This includes reviewing the borrower’s credit score, income, assets, and other financial information to assess their suitability for a loan. By obtaining pre-approval, you can have a clearer idea of your budget and show sellers that you are a serious and qualified buyer.

Mortgage Options

In Redondo Beach, a variety of mortgage options are available to suit your unique financial needs. These options include fixed-rate, adjustable-rate, jumbo, conventional (conforming and non-conforming), and hard money loans. Each type of mortgage offers specific benefits and requirements, so it’s essential to carefully consider which option best aligns with your financial situation and home-buying goals.

The pre-approval process, as mentioned earlier, is a critical step in securing a mortgage. By obtaining pre-approval, you can demonstrate your financial suitability to sellers, making your offer more attractive. Additionally, the pre-approval process gives you a clear understanding of your borrowing capacity, helping you set a realistic budget for your home search.

Pre-Approval Process

The pre-approval process for home financing involves assessing your income, assets, and credit score to determine the loans you could be approved for, the amount you can borrow, and the interest rate. Upon pre-approval, you will receive a pre-approval letter, which is an offer (but not a commitment) to lend you a specific amount, valid for 90 days.

To ensure a successful pre-approval process, it is important to gather all required documents prior to applying, review your credit report for accuracy, and compare loan terms from various lenders. Additionally, it is essential to be truthful and precise when completing the application, as any discrepancies may cause delays in the process.

Working with a Mortgage Broker

Engaging a mortgage broker in Redondo Beach can offer access to competitive wholesale rates, a range of loan programs, and tailored advice to suit your requirements. Mortgage brokers have access to numerous lenders and loan programs, which can save you time and energy by sourcing multiple lenders to secure the most favorable deal.

The process of working with a mortgage broker typically begins with an initial consultation to discuss your needs and goals. Subsequently, the broker will source multiple lenders to identify the loan program that best suits your requirements. Upon selecting a loan program, the broker will assist you in completing the application and provide guidance throughout the loan process.

By collaborating with a mortgage broker, you can ensure a smooth and successful home financing experience in Redondo Beach.

Submitting an Offer

Once you’ve found your dream home in Redondo Beach and secured your financing, the next step is to write an offer. This includes understanding the components of the offer, developing effective negotiation strategies, and closing the deal. By familiarizing yourself with these aspects, you can confidently negotiate and finalize the purchase of your new home with your Redondo Beach real estate agent.

When preparing to submit an offer, it is important to consider your personal scenario, the needs of the seller, timeline and competition. When working with an experienced agent, they will communicate with the listing agent prior to submitting the offer so they have all the details necessary to write a competitive offer. Be prepared to discuss the details of the offer over the phone before committing anything to paper. By employing effective negotiation strategies and maintaining emotional control during the process, you can secure the best possible deal on your new home in Redondo Beach.

Offer Components

The major components of the offer will be the offer price, the escrow time period, down payment, loan terms and contingency time frames. By understanding these components, you can write a more competitive offer if necessary and ensure that it aligns with your expectations and financial goals as well as the seller's expectations and goals. 

Negotiation Strategies

Effective negotiation strategies are crucial for securing the best deal on your dream home. When making an offer, consider the prevailing market conditions, the listing price, the condition of the property, and any other factors that may influence the sale. Additionally, take into account the seller’s motivation and any other offers that may be available.

To develop a non-commercial solution that is satisfactory to all parties, it is essential to remain open to compromise. Consider the needs of all parties involved and strive to find a mutually beneficial solution. By maintaining a composed and professional demeanor throughout the negotiation process, you can successfully navigate the negotiation process and secure the best possible deal on your dream home.

Closing the Deal

Closing the deal on your dream home in Redondo Beach involves ensuring that all contract obligations have been met, all paperwork is in order with signatures from relevant parties, all relevant parties and that all funds have been transferred. Additionally, it is important to verify that all contingencies have been met and that the title has been transferred.

By engaging in a thorough title search, obtaining a comprehensive home inspection, and working with an experienced real estate agent and qualified mortgage broker, you can ensure a smooth and successful closing process.

With all the steps completed and the deal finalized, you can finally call your dream home in Redondo Beach, California, your own.

Independently Reviewed Properties

document, agreement, documents

Evaluating independently reviewed properties when acquiring a home is of great importance as it offers an impartial and reliable appraisal of the property. This facilitates a hassle-free home buying experience and helps to ensure that you are making a well-informed decision based on information deemed reliable.

By conducting an independent review of real estate properties, you can gain additional peace of mind and confidence in your purchase. Home inspections, appraisals, and title searches are essential components of the independent review process. A thorough home inspection can detect any prospective problems with the property, while appraisals and title searches can confirm the property’s worth in comparison to the asking price.

By incorporating these steps into your home buying journey, you can ensure a smooth and successful experience in Redondo Beach.

Home Inspections

A home inspection is a crucial step in the home buying process, as it can reveal potential issues with the property that may not be visible to the naked eye. During the inspection, a qualified home inspector will meticulously examine the home’s roof, plumbing, HVAC system, electrical system, structure, and overall condition.

To identify a qualified home inspector, investigate their credentials and experience, request references, and read reviews from past clients. Additionally, ensure that the inspector is licensed and insured. By engaging the services of a trustworthy and experienced home inspector, you can gain valuable insights into the condition of your potential new home and address any issues before finalizing the purchase.

Appraisals

Appraisals play a vital role in determining a property’s fair market value, providing an impartial opinion of the property’s value based on an on-site evaluation, investigation of analogous properties’ recent sales, and prevailing market trends. The data required for an appraisal includes information regarding the property, recent sales of analogous properties, current market trends, and other factors.

The appraisal process involves specifying the purpose, identifying the data required and its various sources, collecting, documenting, and validating the data, including the reference id.

By obtaining an independent appraisal, you can ensure that you are paying a fair price for your dream home in Redondo Beach and avoid overpaying or encountering financial issues down the line.

Title Searches

Title searches are an essential step in the home buying process, as they ensure that the property you are purchasing has a clear title and is free of any potential claims, liens, or other issues that could affect your ownership. A title search involves examining the chain of title, performing a tax search, and investigating liens and judgments.

By conducting a thorough title search, you can confirm that the seller is the legal owner of the property and that you are not taking on any unforeseen liabilities. This crucial step helps to ensure a smooth and successful home buying experience in Redondo Beach, allowing you to enjoy your new home with confidence and peace of mind.

Summary

In conclusion, purchasing a home in Redondo Beach, CA is an exciting and rewarding journey. By understanding the diverse real estate options, utilizing effective search and negotiation strategies, securing the best financing options, and ensuring a smooth closing process, you can confidently navigate this booming market and find your dream coastal home. With its picturesque beaches, vibrant lifestyle, and top-notch schools, Redondo Beach is the perfect place to call home.

Frequently Asked Questions

What types of properties are available in Redondo Beach, CA?

Whether you’re looking for a beachfront condo or a luxury estate, Redondo Beach has something to offer everyone. From single-family homes to townhomes and condos, you can find the perfect property in this desirable seaside community.

What is the Redondo Beach average home price?

Home prices widely vary in Redondo Beach. As of May 2023, the median price per square foot for condos and townhomes was $769/SF and the median sales price was $1.31M and the median price per square foot for single family homes was $1,063.00/SF and the median sales price was $1.55M.

How much do realtors charge to find a house?

An experienced realtor will do a lot more behind the scenes other than find their clients a house, but in 99% of scenarios in Redondo Beach and Los Angeles, the seller will pay any commission compensation to the buyer's agent. In the event that the seller is not compensating the real estate agent in situations such as off-market transactions then the buyer would want to consider that cost when making an offer on a home. 

How can I find listings for properties in Redondo Beach?

You can easily find listings for properties in Redondo Beach by utilizing online real estate websites or through a local real estate agent. We would be happy to help and our COMPASS app gives you access to our Private Exclusive Network of properties that are not advertised on publicly syndicated sites. 

What financial aspects should I consider when purchasing a home in Redondo Beach?

When considering purchasing a home in Redondo Beach, it’s important to carefully calculate the cost of ownership. This includes understanding various mortgage options available, researching financing possibilities, and arranging pre-approval. You should also consider closing costs. If you would like us to give you a rough estimate of these items you can contact us anytime at 424.333.5340 or Ashley.Novak@Compass.com.

It is also important to consider working with a mortgage broker to find the best financial terms for your purchase. We recommend our clients shop around with different lenders to find the best possible loan program for their scenario and we are aligned with several different lenders so we can meet all of our clients' needs. 

Do I need a home inspection and appraisal when purchasing a home in Redondo Beach?

An appraisal is required when obtaining a loan on the property and it is highly recommended that you seek a professional home inspection when purchasing a home in Redondo Beach. This is essential to ensure the property is in good condition and there are no surprises after closing. A home inspection can also help in the negotiation process to get monetary credits at closing or to get items repaired during the escrow period. This is done during the inspection contingency period and we would submit a request for repairs form to the seller and their agent.

What is a title search and why is it important?

A title search is an important step in the home buying process that involves checking public records to ensure a property’s ownership and detect any encumbrances, liens or other problems that could interfere with the transfer of ownership. We want a clear title at closing to ensure a smooth and successful transaction. 

How can we get in touch with you or set up a buyer's consultation?

You can reach us on our cell phone by text or calling at 424.333.5340 or by e-mail at Ashley.Novak@Compass.com. You can also schedule a buyer's consultation HERE

June 17, 2023

Three Sixty South Bay

 

Today we are exploring a gated community in the heart of the South Bay- Three Sixty South Bay in Hollyglen and we will be covering everything from its prime location, price points, floor plans, the overall lifestyle of this community.

Three Sixty South Bay is a gated community in the Hollyglen neighborhood in the city of Hawthorne. You are located west of the 405, east of Aviation Blvd between El Segundo Blvd. and Wiseburn Street. You are 3.5 miles southeast of LAX, close to the 105 and 405 freeways, close to the metro line, 4 miles to the ocean in Manhattan Beach and you are just blocks away from El Segundo. This is a very convenient location especially if you are a commuter. 

You are right around the corner from Manhattan Village and down the street from Plaza El Segundo and The Point so you have shopping, restaurants, grocery stores, entertainment, parks- everything you need. You are also a short distance to the new Sofi Stadium where the Rams and Chargers play and where the 2028 Olympics will be held.

You are also very close to a number of large employers in the South Bay- Space X, Northrup Grumman, Raytheon, Lockheed Martin, Los Angeles Air Force Base, Mattel, Chevron.

 Three Sixty consists of 610 privately owned units. You have single-family homes, single level condos and townhomes ranging from one-bedroom studios to 4 bedroom free standing single family homes. A lot of people think that this is El Segundo because you are right on the border of El Segundo and Hawthorne, but you do have a Hawthorne zip code.

School District

You are also located in the Wiseburn School District, which is a top-rated school district in the Los Angeles area. In Los Angeles county, it is top 10 for diversity and top 25 for best school districts and best teachers!

For elementary schools you have Juan De Anza Elementary, which is K-5, Peter Burnett Elementary, which is 3rd-5th grade and Da Vinci Connect, which is K-8.

For middle schools you have Richard Henry Dana Middle School and Da Vinci Connect

The Davinci High School is a charter school that has a home school/classroom hybrid model that focuses on project-based learning that is highly sought after and rated a 10 on Greatschools.org and you have families moving into the district specifically for this school.

Three Sixty South Bay Community Information

This community was developed between 2007 and 2014 and is a newer construction community. Three Sixty South Bay community is like living at a luxury resort. You have a state-of-the-art fitness center, parks, pools, jacuzzi, sport court with basketball and tennis, cabanas, clubhouse, BBQ, fire pits and dog parks. You also have community events for almost every holiday so if you are a person who likes to know your neighbors and be involved in the community Three Sixty South Bay is definitely a community to check out.

Three Sixty South Bay Pricing

Pricing in the community widely varies. You have 1 BR condos that have sold for $700K and single-family homes that sold for $1.65M. Pricing really depends on the size of the property, upgrades and on the location within the community as well as your view. The community is bordered by Aviation, El Segundo Blvd and the Metro line so if you are one of the homes bordering those streets, prices would be on the lower end versus a prime location in the center of the community with privacy and tree top views. End units also typically get higher prices and when a unit is highly upgraded versus original that makes a difference on pricing as well. HOA dues in the community range from $230 to $700 depending on the property. HOA dues are subject to change so keep that in mind. For newer construction and all the amenities that Three Sixty offers this is a great value when comparing to neighboring cities like Manhattan Beach where the median sales price is over $2M for a condo or townhouse and over $3M for a single family.

Within the Three Sixty South Bay community you have micro neighborhoods that include the Townes, The Rows, The Terraces, The Flats, The Courts and The Gardens.

The Townes at Three Sixty South Bay

The Townes are townhouses within the community with 5 different floor plans ranging from 2 BR/2.5 BA and 1500 SF for the smallest of the units to a 4 BR/4 BA 2100 SF townhouse on the larger side. These are newer townhomes with in the community and were inspired by historic Los Angeles architecture. You have open concept living and dining spaces and spacious bedrooms. All of the townhouses are three floors and include an attached 2-car garage. Some units have dens, some units have lofts and some units have both.

 

The Row at Three Sixty South Bay

The Row includes 3-level townhouses as well and there are three floor plans. The units range from 2 BR/2.5 BA/1500 SF homes to 3 BR/3 BA/2100 SF homes with an attached garage. Some units have tandem parking and others have side by side parking. You have bright and open two-story living areas, large kitchens and dining rooms, office space and lots of storage.

The Terraces at Three Sixty South Bay

The Terraces are single family homes within the community and were also inspired by the modern architecture of historic LA neighborhoods. They are the only detached homes within Three Sixty South Bay and have no shared walls. There are five different floor plans ranging from a 3 BR/2.5 BA/1700 SF to 4 BR/2.5 BA/2500 SF homes. These homes are 3 levels and include attached garages with side-by-side parking and large third floor roof decks that are perfect for indoor outdoor living. They also include private yard areas and flexible and large bonus rooms.

The Flats at Three Sixty South Bay

The flats are single level condos that range from 950 SF studios to 2 BR/2 BA/1700 SF condos. There are eight different floor plans and each condo has a private 2-car tandem or side-by-side garage. These units are located in a secure building with an elevator. The lack of stairs makes these units popular.

 

The Court at Three Sixty South Bay

The Court includes townhomes ranging from 2 BR/2.5 BA/1300 SF to 3 BR/2.5 BA + lofts and almost 2000 SF. These townhomes have three different levels with four different floor plans and all townhomes include an attached garage and private outdoor patios. The Courts are situated in smaller 5 or 6 unit buildings and the units feature open floor plans. 

The Gardens at Three Sixty South Bay

The Garden townhomes rarely come out for sale because the builder decided to not make additional garden buildings and we don’t have floor plans for those unfortunately.

Thank you for joining me on a tour of Three Sixty South Bay and I hope you found some value. Give us a like and comment below if there is a tour you would like to see and if you would like more information on Three Sixty South Bay or just need some restaurant recommendations feel free to reach out. Whether you are renting, moving or just exploring your options we are here to answer any of your questions so you can live like a local!

Posted in Hawthorne
May 25, 2023

South Bay Real Estate Market

There's a lot of misinformation in the media about what is happening in the real estate market, but it's very important to look at the numbers of the local market to know what's really happening. The April market report does not indicate we are in a crash in the South Bay Los Angeles area. In fact, it's quite the opposite. Historically, average yearly appreciation lies somewhere between 3 and 5% and that is the case with most South Bay markets with a couple exceptions. The big issue that we continue to face is a lack of inventory.

A few things to note when looking at these stats. A 6-Month Supply would be a Balanced Market. Less than a 6-month supply is a Seller’s Market and more than a 6-month supply is a buyer’s market. Year over Year appreciation is up in almost all areas of the South Bay except Torrance & Rancho Palos Verdes. Last Spring was a market peak with very high prices so that’s not surprising. 

Redondo Beach Real Estate Market: The number of homes sold is down 44% from just one year ago with only 42 homes sold in April. The median days on market increased 50% from a year ago to 12 days, which is still very low. Inventory is up 73% from a year ago in Redondo Beach at a 2.1 month supply, but this is still super low. A balanced market would have a 6-month supply of inventory so we are still in a seller’s market. The median sold price was $1,580,000, which is up 25% from March 2023 and 4.1% from April 2022.

Hermosa Beach Real Estate Market: The number of homes sold is down 7.1% from one year ago with only 13 homes sold. The median days on market increased 50% from a year ago to 12 days- again historically low. Inventory is up 33% from one year ago to a 3.2 month supply. The median sold price was $2,089,500, which is down 4.6% from March 2023, but up 5.7% from April 2022. You will see fluctuations in this number because with only 12 homes sold there isn’t much to compare.

Manhattan Beach Real Estate Market: The number of homes sold is down 32% from one year ago with only 25 homes sold in April. The median days on market is up 8.3% from one year ago, but still only at only 13 days. Inventory is up 68% to 2.7 months of inventory, which is still indicative of a seller’s market. The median sold price was $3.4M up 31% from March 2023 and up 16% from April 2022.

El Segundo Real Estate Market: The number of homes sold is down 67% from one year ago with only 5 homes sold in April. The median days on market increased 133% from a year ago to 21 days on market. Inventory is up 218% to 3.6 months of inventory. The median sold price in El Segundo was $1.775M up 4.4% year over year and 57% month over month.

Rancho Palos Verdes Real Estate Market: The number of homes sold is down 50% from one year ago with only 23 homes sold in April. The median days on market increased 238% to 27 days. Inventory is up 50% from one year ago to a 2.3 month supply. The median sold price was $1,797,500 and up 16% month over month, but down 1.6% year over year.

Torrance Real Estate Market: The number of homes sold is down 42% from one year ago with 75 homes sold in April. The median days on market increased 25% to 10 days. Inventory was up 81% to a 1.7 month supply. And the median sold price was $1,012,500, which was down 1.8% year over year and down 0.5% month over month.

If you have any questions about the South Bay Los Angeles market or any Los Angeles market you can reach us at 424.333.5340 or Ashley.Novak@Compass.com. You can also fill out the form below!

Posted in Market Updates
May 16, 2023

Los Angeles Median Home Price Westside Neighborhoods

In the first quarter of the year, the Los Angeles median home price was down. Closings for those months would have went into escrow 30-60 days prior so January closings likely went into escrow in November or December, which is usually a slower time in the real estate market although post pandemic there wasn’t a slow time.🏡 April was a different story with the median sales price on the upswing. I didn’t think we would go back to a world with double digit offers anytime soon, but I was wrong. The Spring market has taken off and multiple offers, high bids and quick sales are back. Most people who bought between November and February got a killer deal when people were shying away because of uncertainty. That’s understandable, but when you are in a position to buy take advantage of the opportunities and don’t wait to follow the pack because those opportunities are sometimes short lived and we never know which way the pendulum will swing! ☀️🌴🌸

Venice: $2,775,000

Brentwood: $2,102,500

Santa Monica: $1,756,500

Westwood: $1,625,000

Century City: $1,495,000

Marina Del Rey: $1,213,000

West Los Angeles: $1,118,500

 

 

 

Posted in Market Updates
May 2, 2023

Manhattan Beach Tree Section Luxury Home Tour

Are you curious what a brand new construction home in the Manhattan Beach Tree Section costs and looks like? We take a quick tour of a 5 BR/5.5 BA/3100 SF on a 4400 SF lot Manhattan Beach Tree Section luxury home that is listed for $4.64M located in the coveted Manhattan Beach neighborhood, which is repeatedly voted one of the best suburbs in Los Angeles. Manhattan Beach is a beach community known for surfing, beautiful homes and laid back lifestyle. It is one of the best places to live in Los Angeles for singles and families and one of the best beach cities in California. 

This is a luxury home with all of the bells and whistles! When you walk in you are greeted with 22' ceilings and a beautifully designed fireplace that captures your attention and serves as a beautiful centerpiece of the space. This is a smart home where you can control lighting, security, intercom and solar directly from your phone. You have a beautifully designed open floor plan with La Cantina pocket doors that open to the backyard for indoor/outdoor living. The patio features a fireplace, built-in speakers and flush-mounted heaters in the ceiling. The kitchen features a Subzero refrigerator and freezer with custom paneling, a Wolf range, beverage center and microwave as well as a water filtration system. The primary bedroom boasts vaulted ceilings, a spa like primary bath, a 4K home theater projector, an oversized balcony with firepit for enjoying your morning coffee and a linear fireplace. Every bedroom has an ensuite bathroom and the downstairs powder room gives zen and spa vibes!

If you are interested in Manhattan Beach homes for sale or surrounding areas you can search our listings on site or reach us at 424.333.5340, Ashley.Novak@Compass.com or complete the form below. We look forward to connecting!

Posted in Manhattan Beach