Real Estate Market Update for Redondo Beach, CA - October 2023

The real estate market in Redondo Beach, CA is still relatively competitive, but it is starting to cool off slightly.

In September 2023, the median sale price of a home in Redondo Beach was $1.5M, down 2.8% from last year. Homes are also staying on the market for a bit longer, with an average of 35 days on market compared to 31 days last year.

There were 41 homes sold in Redondo Beach in September 2023, down from 50 last year. This suggests that buyer demand is starting to soften slightly. However, it is important to note that Redondo Beach is still a very desirable place to live, and there is still a lot of competition for homes.

Here is a summary of the key real estate metrics for Redondo Beach as of October 2023:

• Median sale price: $1.5M
• Average days on market: 35 days
• Market inventory: 155 homes

What does this mean for buyers and sellers?

For buyers, the cooling market means that they have more negotiating power and may be able to find better deals on homes. However, they should also be prepared to act quickly, as there is still competition for homes, especially those in desirable areas.

For sellers, the cooling market means that they may need to be more patient in order to sell their homes. However, they should also be confident that there is still a lot of demand for homes in Redondo Beach, and they should be able to get a good price for their homes if they are priced correctly.

Overall, the Redondo Beach real estate market is still a good place to be for both buyers and sellers. The market is starting to cool off slightly, but there is still a lot of demand for homes in the area.