Several new construction homes drove the real estate market in October to a very high median price. With 3 homes built in 2018 selling in the month the median home price in El Segundo was $1,595,000 which was well above the norm. October saw 8 sold homes in this coastal community with the lowest priced sale of the month at $503,000 for a 2 bed/2 bath condo on Imperial and the largest sale at $1,914,510 for one of the new construction homes in the brand new community just off of Imperial Highway.
Owning a home, especially n in El Segundo, has so many benefits that it’s hard to argue against the merits. While every owner has different reasons and some are more important to one homeowner than another, there’s no lack of great reasons….
Here are just some of the benefits:
Appreciation: Home values have a welll documented history of going up over time. While there may be temporary dips in the market, there’s no question that home values go up in the long term. The increase becomes equity you can benefit from when you refinance or sell.
Equity: Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes towards the principal balance on your loan….meaning each month you own a little bit more outright. This builds your equity and acts as a savings or retirement account. When the home value goes up the equity accrues even faster.
Happiness. While some investors might think this is frivolous, you simply can’t understate how important this is. The feeling of owning your hown home is unlike anything else people own. It’s yours and it’s simply not the same thing as renting. You can fix it up, you can spend your time gardening or mowing the lawn, you can fix it up….knowing that….it’s yours.
Tax Savings: Home ownership has long been a goal for buyers and the government alike. The government rewards homeowners by providing excellent tax benefits. Interest paid on your mortgage and other home related expenses can often be deducted, there are huge capital gains tax exemptions when you sell (primary residence) and more
Education: Research shos that children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.
Community Ties: People who own rather than rent stay in their homes 4 times longer according to statistics. This provide and opportuntiy to get to know you neighbors and connect with you neighborhood and local community.
Welcome home to this stunning and rare 3 bedroom “J” floorplan in Fusion South Bay. This home was originally a model home & offers upgrades rarely seen in the community. This highly sought after layout offers all living spaces on a single level and the flexible floorplan allows for the layout to adapt to every lifestyle. Bathed in natural light with oversized windows and high ceilings throughout, the home offers a spacious and bright living room with built in entertainment center, recessed lights, custom designed/ fitted carpeting with beautiful tile flooring underneath, plantation shutters and more. Perfect for todays lifestyle, the living room open to both dining room and the the kitchen.
Listed for $847,500
3 bedroom, 2 1/2 bath
1,790 sq feet (based on builder specs…buyer to verify)
Gated community of Fusion South Bay
The stunning kitchen is the showcase of the home with upgrades throughout…granite counters, stainless appliances, 6 burner Wolf range and a large island perfect for entertaining. With 2 spacious bedrooms plus a beautiful master suite on the same level as the living spaces once inside it can feel more like a single family home. Master suite offers numerours upgrades including ceiling fan (a rare find in Fusion), custom tile work in the bathrooms, walk in closet and more. Additional features of the home include 2 car attached side by side garage, air conditioning and great privacy due to it’s location in Fusion. Fusion is a fantastic gated community with pool, spa, basketball court, playground and more and the Manhattan Beach adjacent location is just a short drive to the beach. Contact listing agent Keith Kyle or 310.251.2344 with Vista Sotheby’s International Realty for more info or for a private showing.
July was a solid month as expected in the El Segundo CA housing market. There were 15 homes sold which is higher than normal. The median list price was $998,000 with a median sold price of $1,020,000. Anytime the median sales price is higher than list price you know it’s a hot “sellers” market. See the current homes for sale in El Segundo.
The top price of the month was a stunning $2,300,000 for 758 Lomita St which is a 5 bedroom, 5 bath custom built (2004) spanish style single family home offering 4,000 square feet on a nice sized 6,482 foot lot.
950 Virginia St # 103
Condominium
List / Sold:
$609,000 / $595,000
117 days on the market • Sold On 07/03/2018
2 beds, 2 baths • 1,191 sqft • 14,124 sqft lot • $499.58/sqft • Built in 1981
ML# OC18019886
738 Main St # 302
Condominium
List / Sold:
$669,000 / $630,000
250 days on the market • Sold On 07/26/2018
2 beds, 2 baths • 1,258 sqft • 13,407 sqft lot • $500.79/sqft • Built in 1979
ML# SB17214397
945 Pepper St # 211
Condominium
List / Sold:
$615,000 / $640,000
9 days on the market • Sold On 07/31/2018
2 beds, 2 baths • 1,175 sqft • 49,819 sqft lot • $544.68/sqft • Built in 1982
ML# SB18136744
935 Main St # 105
Condominium
List / Sold:
$715,000 / $740,000
7 days on the market • Sold On 07/03/2018
2 beds, 2 baths • 1,304 sqft • 20,771 sqft lot • $567.48/sqft • Built in 1981
ML# SB18125619
206 Sheldon St
Townhouse
List / Sold:
$925,000 / $921,000
7 days on the market • Sold On 07/03/2018
4 beds, 3 baths • 1,641 sqft • 7,150 sqft lot • $561.24/sqft • Built in 2009
ML# SB18107265
861 Sheldon St
Single Family Residence
List / Sold:
$995,000 / $1,005,000
24 days on the market • Sold On 07/24/2018
ML# SB18126029
210 Whiting St # G
Townhouse
List / Sold:
$985,000 / $1,017,000
6 days on the market • Sold On 07/12/2018
3 beds, 3 baths • 1,674 sqft • 11,437 sqft lot • $607.53/sqft • Built in 2003
ML# SB18135398
832 Penn St
Single Family Residence
List / Sold:
$999,000 / $1,020,000
0 days on the market • Sold On 07/18/2018
ML# SB18114097
215 Whiting St # 1
Townhouse
List / Sold:
$998,000 / $1,025,000
4 days on the market • Sold On 07/24/2018
3 beds, 4 baths • 1,641 sqft • 17,528 sqft lot • $624.62/sqft • Built in 1992
ML# SB18154425
1537 E PALM Av
Single Family Residence
List / Sold:
$1,099,000 / $1,215,000
10 days on the market • Sold On 07/27/2018
3 beds, 2 baths • 1,471 sqft • 9,493 sqft lot • $825.97/sqft • Built in 1950
ML# 18339304
143 Virginia St
Townhouse
List / Sold:
$1,252,300 / $1,252,300
5 days on the market • Sold On 07/31/2018
3 beds, 3 baths • 1,745 sqft • 5,723 sqft lot • $717.65/sqft • Built in 2018
ML# SB18169073
1423 E Elm Av
Single Family Residence
List / Sold:
$1,399,000 / $1,399,000
2 days on the market • Sold On 07/03/2018
ML# SB18127859
135 Virginia St
Townhouse
List / Sold:
$1,429,000 / $1,429,000
23 days on the market • Sold On 07/19/2018
4 beds, 4 baths • 2,104 sqft • 5,723 sqft lot • $679.18/sqft • Built in 2018
ML# SB18117700
315 E Maple Av
Single Family Residence
List / Sold:
$1,849,000 / $1,800,000
15 days on the market • Sold On 07/31/2018
4 beds, 4 baths • 3,347 sqft • 5,978 sqft lot • $537.80/sqft • Built in 1989
ML# SB18119313
758 Lomita St
Single Family Residence
List / Sold:
$2,300,000 / $2,300,000
1 days on the market • Sold On 07/06/2018
5 beds, 5 baths • 4,000 sqft • 6,482 sqft lot • $575.00/sqft • Built in 2004
ML# SB18148915
It wasn’t long ago that we were wondering if a $2,000,000+ home price was possible in El Segundo. It then became a question of whether $2,000,000 would become a relatively common number. We’ve seen several $2.0M price sales in the past few months.
July saw a big number as well with the sale at 748 Lomita in El Segundo. This was a 2004 built Mediterranean home with 5 bedrooms, 4 1/2 bath and an estimated 4,000 square feet. Priced and sold at $2,300,000 and listed by Lynn O’Neil of Beach City Brokers.
in 2018 selling in the month the median home price in El Segundo was $1,595,000 which was well above the norm. October saw 8 sold homes in this coastal community with the lowest priced sale of the month at $503,000 for a 2 bed/2 bath condo on Imperial and the largest sale at $1,914,510 for one of the new construction homes in the brand new community just off of Imperial Highway.
home & offers upgrades rarely seen in the community. This highly sought after layout offers all living spaces on a single level and the flexible floorplan allows for the layout to adapt to every lifestyle. Bathed in natural light with oversized windows and high ceilings throughout, the home offers a spacious and bright living room with built in entertainment center, recessed lights, custom designed/ fitted carpeting with beautiful tile flooring underneath, plantation shutters and more. Perfect for todays lifestyle, the living room open to both dining room and the the kitchen.
question of whether $2,000,000 would become a relatively common number. We’ve seen several $2.0M price sales in the past few months.