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South Redondo Townhouse market report

Posted by on Mar 26, 2014 in Uncategorized | No Comments

As we wrap up the first quarter of 2014 there is good news for townhouse sellers in area 155 (South Redondo, north of Torrance Blvd.)

2013 the first quarter had 14 townhouse sales with an average sale price of $724,879 ($388/SF.)   Average days on market was 58 and average size that sold was 1865 SF.   2 out of the 14 sales were cash sales (14%.)

2014 thus far has brought 18 sales in the same area with an average sale price of $877,167 ($423/SF.)  Average days on market is only slightly less at 54 days and average size is 2072 SF.   4 sales were cash (22%) and 1 was seller financed.

Demand as well as sale prices have increased from 2013 first quarter to 2014.  We’ve seen multiple offers on several of the sales this quarter with some going over asking.  We are also seeing more cash buyers and buyers with large down payments.

2014 should remain strong for sellers in area 155 with buyers who have missed out on multiple offer situations in the first quarter, ready to go in strong on the next great townhouse that hits the market.

If you are thinking about selling your South Redondo townhouse in 2014, please give me a call so I can help you sell for the highest possible price.