Is Redondo Beach, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Redondo Beach is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Redondo Beach has remained a Seller's Market.

Key Takeaway

Redondo Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Redondo Beach, CA

How much do homes in Redondo Beach, CA cost?

Median Sold Price

$1,460,625

$816/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$60,625(+4.3%)

Key Takeaway

Homes in Redondo Beach have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in Redondo Beach was $1,460,625 in June 2024, up 4.3% from last year, and the median price per square foot was $816.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $615K$768K
+24.9%
2 $1.0M$1.0M
-6.0%
3 $1.3M$1.4M
+4.1%
4 $1.6M$1.7M
+4.8%
5+ $2.4M$2.6M
+6.2%

Summary: Redondo Beach housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.9%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Cities

Redondo Beach
+4.3%
South Bay Cities
+2.6%
Hermosa Beach
+2.0%
Torrance
-3.5%
Manhattan Beach
-6.1%

Housing Supply in Redondo Beach, CA

How many homes are available in Redondo Beach, CA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
173171-1.2%

Summary: The Redondo Beach real estate market had 171 homes for sale in June 2024, a 1.2% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 87
-12.5%
2 2521
-16.0%
3 5550
-9.1%
4 6365
+3.2%
5+ 2228
+27.3%

Summary: The Redondo Beach housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 16%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

May 2024Jun 2024CHANGE
5335-34.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Redondo Beach, you could pay more than the asking price. 68.6% of homes here sold above asking price last month.

Summary: A total of 35 homes were sold or pending in Redondo Beach in June 2024, down by 34.0% month-over-month. Of the 35 sold homes, 29% were sold under asking, 3% were sold at asking, and 69% were sold over asking.

Days on Market for Redondo Beach, CA

How long does it take to sell a home in Redondo Beach, CA?

Average Sale Time

Jun 2023Jun 2024CHANGE
23 Days22 Days-4.1%

Summary: Homes in Redondo Beach had an average of 22 days on market in Jun 2024, down by 4.1% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Redondo Beach are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 35 homes were sold in Redondo Beach; 74% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

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