2018 was an incredible year for real estate in the Hollywood Riviera. Home prices continued to rise rapidly as demand for homes in this coastal community showed no signs of easing. For those just starting to explore the neighborhood, the Hollywood Riviera lies at the base of the Palos Verdes Peninsula. With a Redondo Beach zip and mailing address, the Hollywood Riviera is actually part of Torrance with Torrance schools and services. The combination of strict building restrictions protecting views and the location on the side of a hillside, makes for often spectacular ocean and coastline views.
As of 12/21 there were 91 closed home sales with an average list price of $1,783,944 and an average sales price of $1,751,000. The average price per foot was $744. The median list price was $1,399,000 with a median sales price of $1,415,000 meaning the median sales prices were over list price!! The median price per foot for 2018 was at $699.
The higest sale of the year $22,650,000 for a spectacular oceanfront estate at 417 Paseo De La Playa. The lowest priced sale of the year $607,500 for a 2 bedroom condo on Pacific Coast Highway.