George Fotion's Market Report
Redondo Beach, CA 90278
Single-Family Homes
Call Realty | www.BestPalosVerdesHomes.com | 310.346.6467
Redondo Beach, CA 90278
Tue Apr 23 2024
This week the median list price for Redondo Beach, CA 90278 is $1,269,000 with the market action index hovering around 69. This is an increase over last month's market action index of 62. Inventory has decreased to 7.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Real-Time Market Profile
| Median List Price | $1,269,000 | |
| Median Price of New Listings | $1,865,000 | |
| Per Square Foot | $947 | |
| Average Days on Market | 26 | |
| Median Days on Market | 14 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 29% | |
| Inventory | 7 | |
| Median Rent | ||
| Market Action | 69 | |
| Strong Seller's Market | ||
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,445,000 | 3,635 | 4,500 - 6,500 sqft | 5 | 6 | 0 | 0 | 0 | 7 |
| $2,097,000 | 2,375 | 0 - 4,500 sqft | 4 | 3 | 22 | 1 | 2 | 10 |
| $1,252,000 | 1,799 | 4,500 - 6,500 sqft | 3 | 2 | 57 | 1 | 1 | 49 |
| $1,000,000 | 560 | 0 - 4,500 sqft | 1 | 1 | 94 | 0 | 0 | 28 |