Market Update – Paseo De La Playa

Paseo De La Playa, the oceanfront street in the Hollywood Riviera of Torrance and Redondo Beach, has seen some busy days in the real estate market.  Currently there is the enormous gated estate of 433 Paseo De La Playa listed at a “mere” $16,000,000.  The recent high water mark was set by 517 Paseo De La Playa, a completely renovated home, selling at $5,920,000.  See the current homes for sale on Paseo De La Playa in Redondo Beach.

See Torrance CA Home Prices for May 2017

Torrance saw a big increase in the monthly number of home sales in May 2017 with 140 homes closing escrow.  The median home price was an impressive $690,000 for the month.  See the Torrance CA real estate market trends and statistics here.  To see the homes that sold in Torrance CA for May visit our home sales page.

City Homes
Sold
May 2017 Median May 2016 Median Year over Year % Change%
Carson 41 $458,000 $453,000 1.2%
El Segundo 8 $880,000 $803,000 9.7%
Gardena 65 $523,000 $425,000 23.1%
Harbor City 14 $503,000 $439,000 14.5%
Hawthorne 46 $610,000 $485,000 25.8%
Hermosa Beach 26 $1,738,000 $1,285,000 35.3%
Lawndale 16 $485,000 $455,000 6.5%
Lomita 18 $653,000 $488,000 33.7%
Long Beach 356 $472,000 $485,000 -2.6%
Manhattan Beach 46 $2,175,000 $1,875,000 16%
Marina Del Rey 32 $933,000 $925,000 0.8%
Palos Verdes Estates 47 $1,650,000 $1,499,000 10.1%
Playa Del Rey 31 $720,000 $560,000 28.6%
Rancho Palos Verdes 51 $1,275,000 $1,060,000 20.3%
Redondo Beach 87 $1,054,000 $950,000 10.9%
San Pedro 63 $620,000 $489,000 26.8%
Torrance 140 $690,000 $593,000 16.4%
Westchester 44 $965,000 $1,130,000 -14.6%

New Real Estate Website for Home Buyers and Sellers in the Hollywood Riviera

With the individual real estate markets in the South Bay being so diverse and specialized, the larger real estate sites and portals just can’t focus on specific neighborhoods.  We are proud to announce the Hollywood Riviera real estate website www.HomesinHollywoodRiviera.com which will provide home buyers and sellers insight into this localized market.   From the current homes for sale and MLS listings, to determining the value of homes in the area, to finding realtors that specialize in the real estate market of the Hollywood Riviera, we hope the site is an invaluable resource for all things real estate in this wonderful coastal community.

Coming Soon – Beautiful Craftsman in Old Torrance

Coming to the market in the summer of 2017. Classic California craftsman in Old Torrance on an oversized lot. Contact Keith Kyle at 310-251-2344 or Keith.Kyle@VistaSIR.com

2016 Top Producing Realtor Announced in the South Bay

Vista Sotheby’s International, one of the top real estate firms in Torrance and the South Bay area of Los Angeles have recently announced  their “Top Producers” for 2016. With offices throughout the area including Manhattan Beach, Hermosa Beach, Palos Verdes, Redondo Beach and the Hollywood Riviera, Vista Sotheby’s has quickly become the dominant force in the local real estate market.

We are proud to annouce that Manhattan Beach realtor Keith Kyle was one of the top agents companywide and was the #9 top producing agent for 2016.   Congrats to all of the realtors given the award.  See also the Vista Sotheby’s top producers for 2015.

We wanted to thank all of our clients and friends that helped make 2016 such as successful year in real estate.

28 Homes over $1,000,000 in Torrance

By Keith Kyle

It wasn’t long ago that a Torrance home in the million dollar range was a rarity….now it’s fairly commonplace. Currently there are 21 homes in the city of Torrance that are priced higher than this formerly elusive price. If you factor in homes in the homes for sale in the Hollywood Riviera, which has a Redondo Beach mailing address but is actually in the city of Torrance, there are actually 28 homes price over $1,000,000 with 5 homes priced over $2,000,000.

  1. 4 beds, 3 baths
    Home size: 2,277 sq ft
    Lot size: 7,840 sqft
    Year built: 1971
    Days on market: 2
  2. 4 beds, 2 baths
    Home size: 1,605 sq ft
    Lot size: 10,018 sqft
    Year built: 1956
    Days on market: 8
  3. 4 beds, 4 baths
    Home size: 4,945 sq ft
    Lot size: 6,969 sqft
    Year built: 2006
    Days on market: 8
  4. 4 beds, 3 baths
    Home size: 2,172 sq ft
    Lot size: 8,712 sqft
    Year built: 1952
    Days on market: 11
  5. 3 beds, 3 baths
    Home size: 1,948 sq ft
    Lot size: 5,227 sqft
    Year built: 1953
    Days on market: 14
  6. 4 beds, 4 baths
    Home size: 3,055 sq ft
    Lot size: 6.20 ac
    Year built: 2005
    Days on market: 14
  7. 3 beds, 3 baths
    Home size: 2,533 sq ft
    Lot size: 10,454 sqft
    Year built: 1951
    Days on market: 15
  8. 4 beds, 3 baths
    Home size: 2,002 sq ft
    Lot size: 6,534 sqft
    Year built: 1956
    Days on market: 16
  9. 4 beds, 3 baths
    Home size: 2,320 sq ft
    Lot size: 6,534 sqft
    Year built: 1954
    Days on market: 16
  10. 3 beds, 2 baths
    Home size: 1,117 sq ft
    Lot size: 5,227 sqft
    Year built: 1954
    Days on market: 18

See all Real estate in the city of Torrance.
(all data current as of 7/27/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Suddenly the Whole Street is On Sale – Camino De Encanto in the Hollywood Riviera

By Keith Kyle

It’s not often that we see homes come on the market in the lower Hollywood Riviera neighborhood that’s west of Palos Verdes Blvd.  Occassionally we see a home or two and more often than not, there is nothing on the market in this area.

That certainly couldn’t be further from the case at the moment as there are 4 homes for sale on Camino De Encanto in the Hollywood Riviera.

There are current 4 homes on the market and all are within a 1/2 block.  This is pretty unheard of an probably not ideal for any of the homes as when buyers have options….they want to negotiate.

When Days on Market Doesn’t Necessarily Represent the Days on Market

By Keith Kyle

I’m sure most MLS systems are different but here in the South Bay the days on market on the CRMLS can be a bit misleading.  Many buyer and agents use days on market as a negotiating tool….the longer the home has been on the market, the more leverage the buyer has to come in low or negotiate other favorable terms.

The problem is that days on market doesn’t always indicate just how long the home has been available and is not necessarily indicative of “active” status.  As realtors when our clients accept an offer we have the option of changing the status to “pending” or “active under contract”.  Pending stops the days on market from accruing, but active under contract does not.  A home can go into escrow on day one, change the status to active under contract (again meaning it’s in escrow) and if it falls out of escrow 20 days later the days on market for the home will show 20.  It’s very misleading as the home has not been available for those 20 days and now puts the seller and listing agent at a disadvantage…..even though it sold the first day.

The other aspect that leads to misinformation is that with this days on market accruing on many home, it does not allow for an accurate picture of the market.  For instance a certain area of town or city itself may show an average days on market for a certain month to be one thing….when many of those homes were not actually available.  It may show days on market at 45 when the reality is that the homes in the community actually go into escrow after 30.

It’s a problem that needs to be addressed as it can change perceptions….both on an individual home and the market in general.

December 2016 Home Prices in Torrance CA

By Keith Kyle

December was a pretty typical month in Torrance real estate with 112 home sales at a median price of $656,000.  December traditionally is a much slower month but with the continued demand for Torrance homes, there doesn’t seem to be such a thing as a slow month.  Click here to see the sold homes in Torrance for December.  For the current homes for sale visit our active listings page.

City Homes
Sold
December
2016 Median
December
2015 Median
Year
over Year % Change%
Carson 54 $450,000 $420,000 7%
El Segundo 14 $816,000 $1,171,000 -30.3%
Gardena 44 $504,000 $413,000 22.1%
Harbor City 9 $523,000 $404,000 29.5%
Hawthorne 37 $575,000 $520,000 10.6%
Hermosa Beach 17 $1,380,000 $1,625,000 -15.1%
Lawndale 8 $393,000 $521,000 -24.6%
Lomita 6 $473,000 $535,000 -11.6%
Long Beach 298 $490,000 $435,000 12.6%
Manhattan Beach 38 $1,863,000 $1,831,000 1.7%
Marina Del Rey 21 $955,000 $945,000 1.1%
Palos Verdes Estates 25 $1,550,000 $1,675,000 -7.5%
Playa Del Rey 20 $658,000 $612,000 7.5%
Rancho Palos Verdes 47 $1,088,000 $945,000 15.1%
Redondo Beach 75 $900,000 $855,000 5.3%
San Pedro 58 $515,000 $485,000 6.3%
Torrance 112 $656,000 $585,000 12.1%
Westchester 32 $943,000 $892,000 5.7%

433 Paseo De La Playa – One of a Kind Home for Sale in the Hollywood Riviera

433 Paseo De La Playa is definitely one of a kind. Perched on the bluff with stunning ocean and coastline views, the home is like something usually seen in Beverly Hills or Bel Aire….not Redondo Beach and Torrance.

Boasting 7 bedrooms (all spacious), 6 1/2 baths, 7,792 square feet on a massive 25,000+ lot that extends to the beach this home has it all…..sports court, gated driveway, ocean view pool and spa (with a mini waterslide) and huge views from many of the rooms.  The home even features a oversized path down to the sand which is rare as the California Coastal Commission highly regulates direct access to the beach and the permitting process (if approved) can take years and years.

The Hollywood Riviera is a fantastic neighborhood with a small town community charm, highly ranked schools and often times some great ocean views.

433 Paseo De La Playa, Redondo Beach, CA 90277 (MLS # PV17007475)

(all data current as of 7/27/2017)
Price $16,000,000
Beds 7
Baths 7 baths
Home size 7,792 sq ft
Lot Size n/a
Days on Market 197
Status Active
This PRIVATE GATED ESTATE HOME between Palos Verdes and Redondo Beach is located on a bluff with Spectacular Ocean and Coastline views of the entire Santa Monica Bay and Malaga Cove! This estate is one of the rare Southern California properties with private accessibility to the sand and beach. As if that is not enough, very few properties along the coast can boast all the resort type amenities, 7,792 Sq. Ft of living space and a 26,743 sq. ft. lot. Just off of the living areas is a huge deck with fire pit for watching the sunsets, a built in BBQ and bar for entertaining friends and family, and a custom lagoon swimming pool with waterfalls, spa and slide to soak in the sun. Also enjoy a private basketball court or play volleyball in your own front yard. 4 car garage and enough area to park 10 cars on the property. 
As you walk thru the front door of this 7,792 sq ft estate, a gorgeous stairway leads you up to the master suite with incredible ocean views. There are 5 bedrooms upstairs and a sauna. The downstairs area (handicap accessible) has a home theatre, pool table room, game room and 2 bedrooms and bathrooms. As you proceed thru the house you will see the chefs kitchen, dining area and living room, all of which have views of the coastline and Pacific Ocean.
Don't miss this chance to own a very rare property-a perfect place to make all kinds of unforgettable memories!

Property Type(s): Single Family

Last Updated 1/13/2017 Tract
Year Built 1995 Community 128 - Hollywood Riviera
Garage Spaces 4.0 County Los Angeles
Total Parking n/a

Additional Details

Area 128 - Hollywood Riviera HOA Dues 0
Parking Spaces: 4.00 Pool Description Private,In Ground,Waterfall,Filtered,Hea
Utilities Sewer Connected View Description Coastline,Ocean,Panoramic
Water Public Waterfront Description Beach Access,Beach Front

Features

Air Central
Air Conditioning Yes
Basement Foundation: Slab
Construction Stucco
Exterior Barbecue Private
Fireplace Yes
Garage Garage, Gated, Yes
Heat Central Furnace
Interior Balcony, Bar, Pantry, Vacuum Central, Wet Bar
LotDescription Bluff Front
Pool Yes
View Yes
Waterfront Yes

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listing provided by : , RE/MAX Estate Properties

(view all details for MLS #PV17007475)