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.

The highest priced home sale in south Redondo (not including the Hollywood Riviera that saw the oceanfront home at 417 Paseo De La Playa sell for $17,500,000) was another oceanfront home at 709 Esplanade that sold for $10,825,000 in August…..which happens to be back for sale just months later at $11,900,000. See the active listing for 709 Esplanade Redondo Beach, CA. The highest priced home that sold in north Redondo was a new construction single family home at 2403 Ralston Lane, Redondo Beach, CA 90278 that sold for $3,950,000 back in September.

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