As of today, 11/22/09, there are only 3 active foreclosure (REO) listings in Redondo Beach.  Not much to choose from!  In addition, there are 4 bank owned homes already under contract.

In October, total of 7 bank owned homes sold at the average price of $586,129.  Average DOM (days on the market) was just 16 days.  Foreclosure listings are in high demand, they sell quickly after usually generating multiple offers, which results in sales over asking price. Average listing price was $575,114;  avg selling price - $586,129.

Total of 3 bank owned homes sold in October '08, at average price of $691,333.  Average listing price was $703,167 a year ago.  Also, it took much longer to sell a foreclosure lisitng - avg DOM was 42 days.

Lower prices, combined with newly extended and expanded Homebuyer tax credit of $8000 and $6500, create a high demand for foreclosure, bank owned homes in the Redondo Beach area.

If you're interested in buying a foreclosure in Redondo Beach or in the South Bay, please call me at (310)918-5027 today!  I'll be glad to help!