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In Palos Verdes, Redondo, Hermosa and Manhattan Beach there were 204 closed new home
sale transactions. Palos Verdes Peninsula had 13 of these new home sales, the other 191 new
home sales took place in Redondo, Hermosa and Manhattan Beach. The affordability plays a
major role as new homes start in the beach cities at $900,000 whereas the Palos Verdes
Peninsula new homes start at $2,000,000. An interesting statistic is that a lot of transactions
consist of a neighborhood relocation. Beach city residents selling their homes and purchasing
in Palos Verdes or vice versa. Currently, there are 63 new homes on the market, 12 on the
Palos Verdes Peninsula and 51 new homes and townhomes in the Beach Cities.
2020 looks to be another active year for new home sales in Palos Verdes, Redondo, Hermosa
and Manhattan Beach. As mentioned there are 63 new homes and townhomes available in
these areas and permits submissions for new homes remain at an all time high. Further,
California has implemented and will be implementing further incentives for new home
development.
New Accessory Dwelling Unit Law passed by State of California that immediately affects Palos
Verdes, Redondo, Hermosa and Manhattan Beach. This law allows a homeowner in these
cities and throughout the state to build an additional 1 or 2 units on their property. This new
law significantly changes R1 zoned neighborhoods as we know them today. Currently, if you
purchased a home in an R1 neighborhood, you expect only one single family home on each
property. The law has changed where home owners can build an additional 1 to 2 units
(maximum total of 1200 square feet) on their property. Further, this law states that each city
must approve these new ADUs in a very timely manner. Neighbors will have minimal, if any
input, as the goal of the State is to increase housing in California. If you would like further
information about the ADU laws, please contact Dean at 310-874-1010 or
Dean@ERealEstateCorp.com.
FROM ALL OF US AT E REAL ESTATE CORPORATION,
HAPPY HOLIDAYS TO YOU AND YOUR FAMILY!
DEAN & JAN THOMAS
310.874.1010
Dean@eRealEstateCorp.com
DRE#00711417/01222734
PREMIUM REAL ESTATE
SERVICES OFFERED SINCE 1979
Happy
H°¤—ƒayÁ!
New Home Sales Report 2019 and 2020 Forecast
NEW HOMES
DIRECTORY
NEW HOMES SALES REPORT IN 2019:
NEW HOMES SALES FORECAST FOR 2020
NEW ACCESSORY DWELLING UNIT LAW FOR 2020
