It is no secret that a good school district makes a neighborhood more desirable; in the Beach Cities especially (Redondo Beach, Hermosa Beach, and Manhattan Beach) the top-rated schools are one of the main, driving forces behind the rush of people that want to live in our gorgeous little beachside communities. Families know that they’re getting a small-town feel in the big city, and buyers are willing to pay a premium for that, which is good news for those of you in the South Bay thinking of listing your properties.
A new study recently conducted by real estate company Redfin verifies that all over the nation, homes within good school districts sell for a higher median price and usually over their listing price. In fact, they sell for about 30% above their listing price, on average, and sell more quickly than homes in a lesser school district. Unfortunately, the downside is that buyers will have a more difficult time finding their dream home since they will have to pay more and be competing with everyone else looking for that perfect Manhattan Beach family residence. Families with children tend to stay in the same home for anywhere from 15-18 years minimum while they raise their children, so there are fewer homes available, in general, than in other areas of Los Angeles.
This is where having a good local real estate agent comes into play for both sellers and buyers. Agents like us can assist you with the right listing price to attract buyers, reap the most reward from your investment, and sell quickly. We can also help buyers navigate the competitive waters of buying a home in the South Bay by helping you with the right offer, negotiations, and neighborhoods. Let us know how we can help you get your family in the right school district in the South Bay.