El Segundo Real Estate – Market Update for June
By Keith Kyle
The real estate market in El Segundo continues to be hot with very low inventory and prices continuing to rise. Summer months are traditionally very active due to the award winning school system and proximity to the coast. El Segundo has a wonderful small town feel and is conveniently located close to all that Los Angeles and the South Bay has to offer.
- Active homes for sale – 19
- Lowest list price – $354,900 – 770 W Imperial AV #28
- Highest list price – $1,989,900 – 216 W Walnut AV
- Average list price – $924,895
- Average price per square foot – $514
- Average Days on Market – 51
- In escrow – 20
- Total homes sold in 2014 YTD – 43
- Average sales price – $796,894
- Average price per square foot – $514
When we were at the peak of the market the townhomes in the Fusion complex drew a great deal of interest for many couples and singles priced out of the nearby Beach Cities. Fusion is technically on 149th Street in Hawthorne, but is just off Aviation Blvd and directly across the street from Manhattan Beach. As the market cooled so did the prices in Fusion and we saw smaller 2 bedroom townhomes selling below $400,000 which was hard to believe. The market has picked back up and prices are somewhat stable but the inventory of homes in Fusion continues to defy the norm and goes from no homes and high demand to multiple homes with less buyer interest all in short periods of time.
