As relatively new communities, Redondo Beach, Manhattan Beach and Torrance have well planned and spacious neighborhoods, tidy modern homes and plenty of trees and flowers. You’ll find a good range of homes, from affordable family homes in quiet streets, to downtown apartments, to more pricey and luxurious homes with stunning sea views. The housing market remains strong although price increases have moderated somewhat. Median home values have increased by 9.2 percent over the last year as demand for homes in these desirable beach cities continues to rise.
Housing activity remains a strong sector of the local economy and Redondo Beach continues to develop housing which both supports the local employment base and which provides housing opportunities for employees from surrounding job rich communities. In the period from 1990 to 2000 the city added 4.7 percent to the housing stock with a net gain of 1,323 housing units. Population growth over the same period was 3.4 percent. Redondo Beach has maintained a balanced land use profile. In comparison, many surrounding communities continue to have pronounced jobs to housing imbalance. For example, the City of El Segundo has only 7,261 housing units to support the current employment level of 57,535 jobs.
Torrance is known for its wide range of homes at affordable prices. Most of its three bedroom homes were built during the developmental boom of the 1950s and 60s; newer homes tend to have four or five bedrooms. Pricing begins at around $290,000 and reaches up to $1.5 million and more for newer, larger estates with oceanic outlooks. Condominiums and townhouses range from the low-$200,000s to $500,000 and more for current, multi-story models.
Redondo Beach has several townhouse and condominium developments that enjoy sea views, newer affordable family homes and some lovely historic villas in the southernmost part of the city (these last tend to be pricey). Many houses in the historic Hollywood Riviera are currently being torn down and replaced with larger and more stunning homes, many of which have lovely old grounds and enjoy sea views. The “TRW Tract” district has many well maintained and character-filled ranch, contemporary and split-level homes built in the 1950s and 60s. Most townhomes and condominiums are found in north and south Redondo Beach. Over the last year, the median home price has risen from $359,500 to $392,500.
Manhattan Beach’s “Tree Section” is popular with families. Old beach houses are being replaced with larger modern homes which sell for affordable prices; most neighbors are families with young children. The city’s “Hill Section” has larger more luxurious homes and is popular with commuters who have challenging high profile careers and have chosen to live outside the bustle of inner city LA. The “Sand Section” of town runs along the waterfront; many homes are townhouses and condominiums, and afford easy access to the beach. “Manhattan Village” is arguable the city’s most exclusive area; a gated green community with a beautiful golf course, tropical landscaping and lovely modern homes.
California property taxes are at 1.5 percent of the property's current market value and local cities retain a percentage.
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