Golden Hills
Redondo Beach Golden Hills homes are hot! I didn’t even have time to write a blog about my gorgeous remodeled listing on Steinhart Avenue because it was gone in a week…with multiple offers…over asking. These homes are flying off the shelves.
In the last six months “tall and skinny” homes, more specifically in the northern part of Golden Hills, have averaged just about 14 days on market…that’s nuts! There have been 21 sales, and of those sales, 15 have sold over asking price.
Like I said, this market is hot. But is it hot enough to make a quick sale on busy Ford Avenue?
Ford Avenue Listings
During the past six months there has only been one sale (two over the last year) on this cut-through street. Of the six homes currently available in the northern triangle of Golden Hills, half are located on Ford Avenue.
Interestingly, last week two neighbors listed their homes at the same time…at the exact same price.
- 1641 Ford Avenue (3 beds, 2 baths, 1,679 sq. ft.)
- 1643 Ford Avenue (3 beds, 2.25 baths, 1,356 sq. ft.)
Both asking $999,000.
The 1641 Ford Avenue home has better curb appeal and more square footage, however, the floor plan is a bit funky with varying elevation changes throughout the home.
The 1643 Ford Avenue home has a handy quarter bathroom and a massive storage area, however, it is a smaller home to its competing neighbor which lacks its curb appeal as well.
Comparable Sales
As for the market, Buyers have two comparable sales to go by over the last 12 months…
1715 Ford Avenue (3 beds, 2.5 baths, 1,796 sq. ft.) sold in October for $1.075 million and went $25,000 over-asking.
1531 Ford Avenue (4 beds, 2.5 baths, 1,653 sq. ft.) sold last month for $1.129 million after asking the same price as the two current listings…the magic number of $999,000.
Looking at these two sales, the $1.129 million closing price was for a nicely remodeled home while the $1.075 million sale had more square footage, high ceilings, and perhaps a lot more potential than the current listings.
The data does not give us a clear picture on what these two listings should sell for, but certainly, the $999,000 pricing was the right call. The Sellers will let the market decide.
Conclusion
Which would you offer on? Will one sell higher and the other sell lower?
It is not often you get two neighbors listing the same week, at the same price, and with similar value propositions.
The result of these listings will not only give you an idea of just how hot this Golden Hills market is, but it will give you insight into exactly what features sell a home. It is a great case study for my readers, clients, agents, and real estate fans alike!
Richard Haynes
DRE: 01779425
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The Richard Haynes Real Estate ShowA leader in South Bay real estate for the better part of a decade, Richard thrives as an advisor to his clients with over $248 million in sales as a broker or investment principal at his boutique agency, Haynes. Richard is known for his keen local market insights which have been featured in the L.A. Times, The Street, and Forbes, along with his weekly South Bay real estate blog. [read more]