RE/MAX Estate Properties' Market Report
Redondo Beach, CA 90278
Condos/Townhomes
RE/MAX Estate Properties | 310-703-1900 | jsanders@eplahomes.com
Redondo Beach, CA 90278
Thu Jun 08 2023
This week the median list price for Redondo Beach, CA 90278 is $1,559,000 with the market action index hovering around 60. This is less than last month's market action index of 62. Inventory has increased to 19.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $1,559,000 | |
| Median Price of New Listings | $2,095,000 | |
| Per Square Foot | $700 | |
| Average Days on Market | 55 | |
| Median Days on Market | 21 | |
| Price Decreased | 21% | |
| Price Increased | 0% | |
| Relisted | 11% | |
| Inventory | 19 | |
| Median Rent | ||
| Market Action | 60 | |
| Strong Seller's Market | ||
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,097,500 | 2,764 | 6,500 - 8,000 sqft | 4 | 4 | 0 | 1 | 0 | 24 |
| $1,699,000 | 2,210 | 6,500 - 8,000 sqft | 4 | 4 | 0 | 0 | 0 | 77 |
| $1,250,000 | 2,054 | 6,500 - 8,000 sqft | 3 | 3 | 27 | 0 | 0 | 21 |
| $749,000 | 1,108 | 0.5 - 1 acre | 2 | 2 | 42 | 0 | 0 | 21 |