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6. Villas for sale
6. Villas for sale

Redondo Beach Villas Home Sales in 2009

The Redondo Beach Villas is divided into two areas, Villas North and Villas South. Artesia Blvd. serves as the boundary between these two sub-areas. They both have approximately 5,000 homes, but the Villas North area has a much higher percentage of single family homes and there are far more townhomes than single family homes in the two areas. Interestingly, the median sales prices of townhomes in both areas were higher than those for single family homes back in 2000 and remained so this past year. Stated in another way, it has been and continues to be more expensive to buy a townhome than a single family home in these areas. As it turns out, the pricing for all homes in both areas has been about the same. The purchase price for a home at the beginning of a decade was just over $300 K. This past year the median sales price for both types of homes in both areas ranged between $610 K to $670 K. When compared to 2008, there were more total homes sold in 2009 in both areas. The challenge, however, is that both areas had a drop in median sales prices for both home types with one exception. Single family homes in the Villas North area climbed in price last year. What would be of great interest is understanding the trends for sales here. Both areas have had an incredible pick up in sales recently. When looking at last year’s sales, the projected number of escrows might be six or seven depending on the area. Both areas have already had at least four closings in the past two weeks and three times that number of homes in escrow. This highlights the momentum in the Villas areas this year. At this pace, the number of sales could exceed historic highs. Tony Cordi is the owner of Beachtime Realty, serving the South Bay since 2007. He specializes in beach properties across the South Bay and Palos Verdes. Tony has helped several clients identify properties where they can add value by remodeling or developing the property. Article Source: http://EzineArticles.com/expert/Tony_Cordi/419074 “

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