The real estate market in Redondo Beach is alive and well given that a few recent condo listings quickly went into escrow. We’re going to see
just how hot the market is with the newest listing at 640 The Village #214. This one bedroom is the highest priced listing by a wide margin.
Listed at $899,000 if it sells anywhere near this price, it would be the highest priced 1 bedroom condo sale in the Village of all time…..by a considerable amount.
The condos in The Village all have the same layout and same square footage so they’re generally pretty comparable…..with some definite differences including views, location in the building etc. This is a 2nd floor condo in the 640 the Village so it’s equivalent to a 3rd floor in other buildings (however there is more value in 3rd floor as there is nobody above)
The two previous highest condo sales (and only 1 bedrooms ever to sell over $800,000) were at 620 The Village #312 (top floor unit) which sold for $800,000 on 8/2/22 and 630 The Village #112 which sold for $805,000 on 4/12/22. The first was a top floor unit which always sells for more and the 2nd…..well we’re not sure how or why that sold for the record as it’s a first floor condo.
At $899,000 this condo is priced at $1,452 a square foot which is already way higher than the $1,300 (ish) a square foot the two previous highest sales were at. Average price per foot for all one bedrooms sold in 2022 was $1177.
The condo has been nicely updated and has fantastic views. The condo also has hardwood floors which we’ve never seen in a 2nd or 3rd floor unit (…..we’ll just leave it at that)
Having said that it’s going to be a real challenge to see this sell.
640 The Village Unit #214 Redondo Beach Basics
- 1 bedrooms
- 1 bathroom
- 619 square feet (BTV)
- HOA $300 monthly
- Listed at $899,000
- Listed by Aaron Klapper & Elizabeth Bobo – eXp Realty of California, Inc.- 310-546-9800
640 The Village #214, Redondo Beach, CA 90277 – Listed at $899,000
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layout but the bonus of an upstairs oceanview loft and deck. The additional space brings the total square footage to over 2,000 and the views from both levels are amazing. This beautiful property is listed by Rob McGarry of Vista Sotheby’s International Realty.
. Other than the older feeling tile countertops and original (but painted) cabinets in the bathrooms, it’s nicely updated. It’s an end unit so the great news is that it has extra windows making for a very bright interior…..the downside is that it’s the unit closest to fairly busy Catalina Ave so it’s a bit busy out the back bedroom window. It has a decent ocean view from the balcony but no real view from inside the unit. HOAs are always high in Seascape 3 and there’s an approximately $50K per unit special assessment that the seller isn’t planning on paying so that needs to be factored into value.
The top floor location always means slightly better views than the equivalent unit below but it is towards the very back of the building (odd number units go from 301-317 with the higher numbers closer to the water) so not as big a view as top floor units further forward enjoy.
610 – 660 The Village. The rarer ones are in the townhome buildings. These consist of both multi level townhomes as well as single level condos below which are pretty rare. They were originally built as studios but most have been converted to 1 bedroom units. While rare there are actually two on the market at the moment. 680 The Village is priced at $750,000 which will be a good indication of where the market is currently at and whether things have cooled a bit. The last sale of a similar unit was the same price toward the end of 2021. At $750,000 it’s drastically less than the other