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 Apr 25 2024
This week the median list price for Redondo Beach, CA 90278 is $1,450,000 with the market action index hovering around 60. This is an increase over last month's market action index of 59. Inventory has increased to 23.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $1,450,000 | |
| Median Price of New Listings | $1,359,000 | |
| Per Square Foot | $705 | |
| Average Days on Market | 44 | |
| Median Days on Market | 35 | |
| Price Decreased | 22% | |
| Price Increased | 4% | |
| Relisted | 0% | |
| Inventory | 23 | |
| Median Rent | ||
| Market Action | 60 | |
| Strong Seller's Market | ||
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,000,000 | 2,590 | 6,500 - 8,000 sqft | 4 | 4 | 7 | 2 | 0 | 35 |
| $1,714,000 | 2,323 | 6,500 - 8,000 sqft | 4 | 3 | 9 | 0 | 2 | 35 |
| $1,379,000 | 2,012 | 6,500 - 8,000 sqft | 4 | 3.5 | 1 | 2 | 1 | 35 |
| $1,159,500 | 1,786 | 0.25 - 0.5 acre | 3 | 2.8 | 9 | 3 | 4 | 31 |