For October, the number of closed escrows for the Redondo Beach residential real estate market declined relative to September by approximately 17%. This is partially explained by a decrease in active listings, summer coming to an end and school starting back up. In other words, there was less inventory to choose from and buyers were focusing their attention elsewhere.
On a positive note, however, the median price year-over-year statistics reveal property values in October 2013 have increased about 5.1% relative to October 2012 figures. Or, in dollar amounts, the median value has improved from $709,500 to $747,500.