Redondo Beach Real Estate Review – 2023 Year End Recap
Redondo Beach Real Estate Review
2023 by the Numbers
Welcome to the 2023 year in review for home sales and home prices in Redondo Beach.
2023 was a slightly slower year for home sales in Redondo with a total of 565 homes selling during the year. The lower number of sales was not due to a lack of demand, but a lack of inventory as there were fewer listings than in years past. A large part of the slow down was due to higher interest rates, but not necessarily due purely to buyers. Due to the higher rates, there were fewer homeowners willing to sell their home in order to upsize, downsize or relocate and make a big jump in rate and monthly payments. When you have a current interest rate, as many due, in the 4%, 3% and even the 2% range it’s hard to consider selling and buying at 7%.
That said prices were impressive and the number of homes sold still made for a solid year.
North Redondo Beach 90278
- Number of homes sold: 289
- Average asking price: $1,434,346
- Average sold price: $1,435,968
- Median asking price: $1,350,000
- Median sold price: $1,365,000
- Average price per sq foot: $816
- Averge days on market: 42
- Median days on market: 14
South Redondo Beach 90277
- Number of homes sold: 219
- Average asking price: $1,543,323
- Average sold price: $1,542,338
- Median asking price: $1,395,000
- Median sold price: $1,400,000
- Average price per sq foot: $924
- Averge days on market: 32
- Median days on market: 13
