Redondo Beach Market Summary for 2021

Redondo Beach CA real estate market was characterized by higher home prices, increased sales despite very low inventory. The homebuyer demand continued to exceed the supply of houses and condos.  It resulted in sellers receiving multiple offers and pushing prices up. Another contributing factor were low mortgage interest rates and expectations of substantial rate increases in 2022.

Total of 414 single family homes were sold in 2021, 23 percent increase compared to 2020. Median price was $1,500,000 compared to $1,335,000 a year ago (12% increase). The average sold price was $1,672,238 vs $1,530,199 in 2020 which represents a 9 percent increase. Below are market details (single family homes only; data based on CRMLS):

 

Redondo Beach	2021	2020
No. of Sales	414	337	+23%
Median Price	$1,500,000	$1,335,000	+12%
Average Price	$1,672,238	$1,530,199	+9%
Days on Market	20	29	-9 days

Redondo Beach California real estate is projected to quite similar in 2022.  The low inventory, homeowners staying put, will continue to push home prices up. The one unknown is the real impact of rising mortgage rates which would reduce the homebuyers ability to buy in their price range.

Real estate is local - every neighborhood or community is different.  If you're considering selling your home, Contact us and we'll provide you with a free local market report and free home evaluation. Call (310)918-5027 to set up a no-obligation consultation.