From Lawndale realtor Keith Kyle, Lawndale Homes for Sale and Vista Sotheby’s International…..happy Cinco De Mayo!
We saw a very impressive jump in the number of home going into escrow with both month over month numbers increasing dramatically in 2020. That seems to have changed quickly with the impacts of the Corona virus on the Lawndale housing market. While that’s not great news for home sellers, it certainly will present opportunties for home buyers in the area. Acoording to South Bay realtor and Lawndale specialist Keith Kyle, “it’s inevitable that the very hot market doesn’t slow down a bit as it becomes harder to get financing and buyers income situation’s become less clear”.
Take a look at the chart below to see the “active” listings each month along with pending sales (red line) and closed sales. The pending sales went up both January and February by quite a bit, but March saw the beginnings of the impact.
One of the extremely appealing aspects of Lawndale is the more reasonable home prices. Redondo sits just east from North Redondo Beach (just across Inglewood Ave) but the price differences can be dramatic. In general Lawndale average home prices are almost half of average North Redondo Beach home prices. See the chart below for the past 15 months of comparisons between the two South Bay areas. View the current homes for sale in Lawndale and the current homes for sale in North Redondo Beach 90278
|Date||18-Sep||18-Oct||18-Nov||18-Dec||19-Jan||19-Feb||19-Mar||19-Apr||19-May||19-Jun||19-Jul||19-Aug||19-Sep||19-Oct||19-Nov||Past 15 Months|
|Lawndale||Avg. Active Price||638||617||615||610||665||686||645||664||663||669||640||681||560||605||679||$ 642|
|Redondo Beach||Avg. Active Price||1043||1111||1145||1159||1150||1102||1043||1077||1145||1097||1088||1128||1087||1129||1034||$ 1,103|
|Lawndale||Avg. Sold Price||508||524||540||501||573||530||570||563||643||548||622||577||574||595||553||$ 561|
|Redondo Beach||Avg. Sold Price||1001||1022||1061||1000||931||1093||960||1118||1044||1081||1124||1106||1023||1046||1017||$ 1,042|
|Lawndale||Avg. Sq. Ft. Price (Sold)||391||389||472||388||423||455||454||389||414||601||413||440||385||475||451||$ 436|
|Redondo Beach||Avg. Sq. Ft. Price (Sold)||501||550||555||553||607||554||568||557||590||588||571||622||551||597||578||$ 569|
|Lawndale||Median Sold Price||500||493||579||572||587||525||653||560||672||577||638||583||634||663||519||$ 584|
|Redondo Beach||Median Sold Price||995||977||1070||990||919||1014||923||1062||985||1045||1100||1080||1015||1070||1000||$ 1,016|
The neighborhood of El Camino Village is small community encompassing a pocket of both Lawndale and Gardena. Frankly speaking it’s somewhat made up but it has definitely made a difference when it comes to property values. Unlike some of the other nearby areas of Lawndale and Gardena, El Camino Village has a more neighborhood feel with mostly one story single family homes on nice tree lined streets. There are only a very limited number of apartment buildings, duplexes, commercial etc. giving it a very upscale feel. See the current homes for sale in El Camino Village.
The numbers paint a pretty compelling picture. The homes in El Camino Village sell for far more money, hold their values better, are well higher price per foot and sell much quicker. Oh what a difference a few blocks can make.