Ellis Posner
Redondo Beach, CA
Single-Family Homes
ellisposner.com
Redondo Beach, CA
Sat May 18 2024
This week the median list price for Redondo Beach, CA is $2,447,000 with the market action index hovering around 67. This is an increase over last month's market action index of 65. Inventory has increased to 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $2,447,000 | |
| Median Price of New Listings | $1,895,000 | |
| Per Square Foot | $914 | |
| Average Days on Market | 61 | |
| Median Days on Market | 35 | |
| Price Decreased | 33% | |
| Price Increased | 0% | |
| Relisted | 13% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 67 | |
| Strong Seller's Market | ||
While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,762,444 | 4,052 | 4,500 - 6,500 sqft | 5 | 5.5 | 25 | 1 | 1 | 35 |
| $2,792,500 | 3,051 | 4,500 - 6,500 sqft | 4 | 4 | 22 | 1 | 0 | 154 |
| $2,297,000 | 2,561 | 4,500 - 6,500 sqft | 4 | 3 | 64 | 3 | 1 | 10 |
| $1,417,000 | 1,863 | 0 - 4,500 sqft | 3 | 2 | 69 | 2 | 2 | 45 |