Is the Real Estate Market in The Village Redondo Beach Finally Cooling Off?

Is the real estate market in the oceanview condos of The Village in Redondo Beach finally cooling off?

The one bedroom Village condos in Redondo Beach are a great indicator of the South Redondo real estate market over time as the units are all the same size and configuration. The ocean views make a big difference as well as the floor it’s on, but in general the units are pretty similar. Therefore the changes in values year over year make for a good indication of the direction the market is heading.  See below for information on the sales so far in 2018 and how they compare with 2017 and 2016.  It indicates while prices are still high the market is softening with a smaller increase in values from 2017 as well as a longer average days on market.  View the current oceanview condos for sale in The Village Redondo Beach

2018

As of September 10th,  2018 has seen 5 one bedroom condos sold at a median price of $630,000 and an average price of $628,000.  That averaged out to around $1,015 a square foot for the year.  Another important number was the average days on market for 2017 which was 35.

2017

In 2017 8 one bedroom condos sold at a median price of $615,000 and an average price of $621,000.  That averaged out to around $993 a square foot for the year.  Another important number was the average days on market for 2017 which was 19.

2016

In 2016 10 one bedroom condos sold at a median price of $552,550 and an average price of $557,800.  That averaged out to around $900 a square foot for the year.  Another important number was the average days on market for 2016 which was 29.