We are now half way into 2014 so it's a perfect time to compile our local South Bay real estate sales and selling home price summary and compare them with the same period last year. South Bay covers many markets, all of them offer attractive real estate choices and their own appeal. I have selected three major South Bay markets - Manhattan Beach, Redondo Beach and Torrance in order to give you a shapshot of our market in the first six months this year.
All data is for single family homes only and it's based on the local MLS stats (CRMLS). DOM - days on market
Average single family home selling price was $2,279,111 in Manhattan Beach - 13% increase over same period last year; 169 houses were sold - 10 more than last year. Manhattan Beach market is currently a strong seller's market. Low inventory and strong demand result in multiple offers and quick sales.
Current Manhattan Beach inventory consists of only 48 single family homes, 2 condos and 15 townhomes.
In Redondo Beach, 171 single family homes were sold (10% drop in sales volume); Average selling price of $953,968 was higher by 5% compared to same period last year.
Current inventory is low - only 149 homes are active (59 houses, 34 condos, 56 townhomes). Redondo Beach buyers often compete for homes, pushing prices up.
Average Torrance home selling price was 701,565 in the first half of this year - 6% increase. Sales volume was lower by 12%.
South Bay real estate market is hot. Prices are going up and homes are selling quickly. We are looking for sellers.
Please contact me anytime for a Free Home Evaluation and Free Market report for your South Bay neighborhood. Call 310.918.5027 or fill out the short form below: