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

Fri Jul 26 2024
This week the median list price for Redondo Beach, CA 90278 is $1,500,000 with the market action index hovering around 51. This is less than last month's market action index of 52. Inventory has increased to 29. Click here to stay informed with the Redondo Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Redondo Beach, CA 90278

Fri Jul 26 2024
This week the median list price for Redondo Beach, CA 90278 is $1,500,000 with the market action index hovering around 51. This is less than last month's market action index of 52. Inventory has increased to 29. Click here to stay informed with the Redondo Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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

Never miss important changes in the Redondo Beach market.
Median List Price $1,500,000
Median Price of New Listings $1,599,000
Per Square Foot $695
Average Days on Market 59
Median Days on Market 35
Price Decreased 14%
Price Increased 3%
Relisted 3%
Inventory 29
Median Rent
Market Action 51
Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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
$2,195,000 2,850 6,500 - 8,000 sqft 4 4 0 2 1 14
$1,599,000 2,287 6,500 - 8,000 sqft 4 3 18 2 1 21
$1,409,129 2,040 6,500 - 8,000 sqft 3 3 1 1 0 28
$1,229,000 1,825 0.5 - 1 acre 4 4 0 2 0 112