South Bay and So California Real Estate Market Update

South Bay real estate market report - see market stats for Redondo Beach, Torrance, Manhattan Beach. Call Krystyna Baty at (310)918-5027 for your Free home evaluation today!

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South Bay and So California Real Estate Market Update

Posted by Krystyna Baty on Friday, September 12th, 2014 at 11:14am.

South Bay home values continued to rise this summer but there is a change in the market mix. The increasing share of sales in more expensive beach cities (Manhattan Beach, Hermosa Beach, Redondo Beach), especially ocean front properties, nudge up the median South Bay home prices. In many areas prices are high enough to slow down overall sales because many potential buyers cannot qualify for loans despite lower mortgage rates. Distressed property sales (foreclosures, bank owned, short sales) are very low.  Inventory levels are increasing in all markets.  Median prices continue to rise but the pace of the increase has slowed down.

Here are median price and inventory charts for selected South Bay markets:

REDONDO BEACH

Median Price of homes in Redondo Beach, CA. Measured on September 05 2014.

Inventory of homes in Redondo Beach, CA. Measured on September 05 2014.

TORRANCE

Median Price of homes in Torrance, CA. Measured on September 05 2014.

Inventory of homes in Torrance, CA. Measured on September 05 2014.

MANHATTAN BEACH

 Median Price of homes in Manhattan Beach, CA. Measured on September 05 2014.

Inventory of homes in Manhattan Beach, CA. Measured on September 05 2014.

GARDENA

 Median Price of homes in Gardena, CA. Measured on September 05 2014.

Inventory of homes in Gardena, CA. Measured on September 05 2014.

LOMITA

Median Price of homes in Lomita, CA. Measured on September 05 2014.

Inventory of homes in Lomita, CA. Measured on September 05 2014.

Here is the chart showing all Southern California real estate stats for August, broken down by county.

  Sales Volume Median Price
All homes Aug-13 Aug-14 %Chng Aug-13 Aug-14 %Chng
Los Angeles 8,038 6,508 -19.00% $429,000 $465,000 8.40%
Orange 3,477 3,014 -13.30% $560,000 $590,000 5.40%
Riverside 3,740 2,890 -22.70% $265,000 $300,000 13.20%
San Bernardino 2,773 2,188 -21.10% $210,250 $240,000 14.10%
San Diego 4,099 3,324 -18.90% $415,000 $448,500 8.10%
Ventura 930 872 -6.20% $450,000 $498,000 10.70%
SoCal 23,057 18,796 -18.50% $385,000 $420,000 9.10%

Source: DQNews.com 

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Krystyna Baty, experienced real estate broker, is committed to the highest standards of professional service for all your South Bay Real Estate needs. I pride in getting top dollar for our home sellers in the least amount of time. For our home buyers my team employs our extensive knowledge and experience to find the perfect home. If you would like more information in regards to buying or selling a home, please email or call me at (310)918-5027 today!

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