Which Would You Choose? ... in the $1M Price Range
No matter what price range you are in as a buyer in the South Bay, you are going to have to decide what matters most. I give my buyers homework to help figure out if the 4th bedroom is more of a priority than location, ie. 3 bedrooms in a neighborhood closer to downtown, simply because if you can't make a decision quickly, the decision will be made for you by others that could. Here are 2 examples of what I saw as the best picks under $1M this month. Which would you choose?
$1,000,000 Price Tag: Golden Hills or N. Redondo?
3 BEDS | 2 BATHS | 1,400 SQ. FT. | 2,553 SQ. FT. LOT | $678 PRICE/SQ. FT.
WINNING ASSET: SINGLE FAMILY TASTEFUL REMODEL & BACKYARD
Square footage is tight in the "tall and skinnies" of Golden Hills, but with this sacrifice you are rewarded with single family home. This listing is a winning combination with it's sleek remodel throughout with outdoor and living area all flowing together. It's surprising it took 3 weeks to go under contract; likely it was an all-out bidding war with many parties and counter offers circulating until finally a winner was crowned.
4 BEDS | 3 BATHS | 1,913 SQ. FT. | 3-ON-A-LOT TOWNHOME | $517 PRICE/SQ. FT.
WINNING ASSET: CAPE COD EXTERIOR / POTTERY BARN INTERIOR
In North Redondo Beach, your dollar goes a lot further with the multiple townhomes on a single lot. In this case, the middle unit of 3 attached townhomes on one of the busiest commuter streets in the neighborhood went under contract in under 2 weeks (actually while I was writing this article!). Blink and you will miss anything remotely updated in NRB.
The inventory crunch is a very real issue fueling this frenzy of offers on what seems like every listing remodeled, newly built or priced within reason. As you can see from the chart below, as of last month we had only 19 total listings compared to 34 a year prior in all North Redondo neighborhoods including Golden Hills.
Contact Liz at 310.975.4760 to discuss the current market dynamics and strategy to best position yourself to sell high and buy smart.