South Bay Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Feb. 16, 2024

South Bay January 2024 Market Report

South Bay January 2024 Market Report

South Bay Market Report

South Bay January 2023 real estate market profile has not changed when compared to last few months. It is a seller's market due to the very low inventory, low demand, lower property sales, high interest rates reducing the homebuyer pool.  Home sales are down, the prices are steady or higher when compared to a year ago. See our previous monthly reports to compare numbers on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices. Homeowners are hesitant to put their houses on the market and give up their low mortgage interest rates.

We have prepared real estate estate market updates for two selected major areas in South Bay CA and Beach Cities - Torrance and Redondo Beach in order to better understand the local South Bay market. Below you'll find home sales data in January 2024 as it compares to the same period 12 months age, broken down by property type. Torrance single family home sales were down by 29 percent while the average sales price for single family homes was up by 7 percent. Redondo Beach home single family home sales were up by 33 percent y-o-y while the average sales price for single family homes was up by 11 percent. See below for all detailed data. Condo and townhome sales and prices both in Torrance and Redondo Beach picked up in January.

You may create your own market report for any market, city, zip code, area, property type, save and receive email update. It'll help you to be current with your area market conditions. These reports can be helpful if you're either a buyer or a seller in South Bay LA. Call us at (310)918-5027 with any questions.

 

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We'll be happy to help!

TORRANCE

Single Family Homes

Torrance January 2024 January 2023 Difference
No. of Sales 29 41 -29%
Average Price $1,166,820 $1,093,441 +7%
Median Price $1,100,000 $1,120,000 -2%
Days on Market 22 43 -21 days

 

Condos and Townhomes

Torrance January 2024 January 2023 Difference
No. of Sales 15 9 +67%
Average Price $748,545 $666,444 +12%
Median Price $748,889 $659,000 +14%
Days on Market 32 31 + 1 day

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach  January 2024 January 2023 Difference 
No. of Sales 11 8 +33%
Average Price $1,745,091 $1,765,679  -1%
Median Price $1,825,000 $1,643,716 +11%
Days on Market 44 63 -19 days 

 

Condos and Townhomes

Redondo Beach January 2024 January 2023 Difference
No. of Sales 16 13 +23%
Average Price $1,419,744 $1,318.462 +8%
Median Price $1,423,000 $1,275,000 +12%
Days on Market 39 36 +3 days

 

Redondo Beach Market Report in Real Time 

Every market is different, sometimes a couple of blocks make a difference in valuation.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

 

South Bay January 2024 Market Report

Posted in Market Updates
Jan. 12, 2024

South Bay Real Estate Year End Report

South Bay Real Estate Year End Report 

South Bay Real Estate Market

South Bay real estate market was a seller's market in 2023. The buyer demand was lower than in the previous year due to higher mortgage interest rates and very low inventory of homes available for sale. Home sellers who had in recent years locked in historically low interest rates on their loans have stayed put. Thus the imbalance in our market.

We prepaired real estate estate market updates for selected major areas in South Bay CA and Beach Cities - Torrance and Redondo Beach in order to better understand the area market conditions. Below you'll find property sales data in the year 2023 as it compares to the year 2022, broken down by property type. Torrance home sales were lower by 14 percent while the average sales price for single family homes was down by 3 percent. Redondo Beach home sales were down by 8 percent y-o-y while the average sales price for single family homes was up by 1 percent. See below for all detailed data.

You may create your own market report for any market, city, zip code, area, property type, save and receive email updates. It'll help you to be current with your area market conditions. These reports can be helpful if you're either a buyer or a seller in South Bay LA.

 

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We'll be happy to help!

TORRANCE

Single Family Homes

Torrance Year 2023 Year 2022 Difference
No. of Sales 634 737 -14%
Median Price $1,124,500 $1,150,000 -2%
Average Price $1,154,853 $1,191,430 -3%
Days on Market 22 19 +3 days

 

Condos and Townhomes

Torrance Year 2023 Year 2022 Difference
No. of Sales 257 356 -28%
Median Price $675,000 $687,500 -2%
Average Price $681,821 $699.476 -3%
Days on Market 27 18 +9 days

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach  Year 2023 Year 2022 Difference 
No. of Sales 233 254 -8%
Median Price $1,592,906 $1,685,000  -6%
Average Price $1,920,758 $1,894,469 +1%
Days on Market 29 19 +10 days 

 

Condos and Townhomes

Redondo Beach Year 2023 Year 2022 Difference
No. of Sales 329 397 -17%
Median Price $1,280,000 $1,269,500 +1%
Average Price $1,326,628 $1,335,415 +1%
Days on Market 32 19 +13 days

 

Redondo Beach Market Report in Real Time 

Every market is different, sometimes a couple of blocks make a difference in valuation.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

Posted in Market Updates
Dec. 7, 2023

South Bay Market Report November '23

torrance South Bay ca market report

South Bay real estate market is a seller's market due to the very low inventory, low demand, lower property sales, high interest rates reducing the homebuyer pool.  While the sales numbers are down, the prices are steady or a bit higher when compared to a year ago. See our previous monthly reports to compare numbers on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices.

We prepaired real estate estate market updates for selected major areas in South Bay CA and Beach Cities - Torrance and Redondo Beach in order to better understand the area market. Below you'll find property sales data in November 2023 as it compares to the same period in 2022, broken down by property type. Torrance home sales were up by 5 percent while the average sales price for single family homes was up by 7 percent. Redondo Beach home sales were down by 3 percent y-o-y while the average sales price for single family homes was up by 6 percent. See below for all detailed data.

You may create your own market report for any market, city, zip code, area, property type, save and receive email update. It'll help you to be current with your area market conditions. These reports can be helpful if you're either a buyer or a seller in South Bay LA.

 

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We'll be happy to help!

TORRANCE

Single Family Homes

Torrance November 2023 November 2022 Difference
No. of Sales 44 42 +5%
Average Price $1,120,000 $1,066,500 +5%
Median Price $1,122,057 $1,108,987 +7%
Days on Market 28 25 +3 days

 

Condos and Townhomes

Torrance November 2023 November 2022 Difference
No. of Sales 15 18 +17%
Average Price $707,261 $666,489 +6%
Median Price $730,000 $618,500 +18%
Days on Market 18 36 -18 days

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach  November 2023 November 2022 Difference 
No. of Sales 20 13 +54%
Average Price $1,908,250 $1,889,231  +1%
Median Price $1,725,000 $1,700,000 +1%
Days on Market 30 28 +2 days 

 

Condos and Townhomes

Redondo Beach November 2023 November 2022 Difference
No. of Sales 29 30 -3%
Average Price $1,211,209 $1,350,433 -10%
Median Price $1,198,812 $1,299,500 -8%
Days on Market 30 42 -10 days

 

Redondo Beach Market Report in Real Time 

Every market is different, sometimes a couple of blocks make a difference in valuation.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

Posted in Market Updates
Oct. 29, 2023

Home Selling Tips

Home Selling Tips - How To Get More Money For Your House

home selling tips

Home selling tips can be narrowed down to just a few important and tried ones. Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory in Torrance and surrounding areas is incredibly low, driving up buyer competition despite higher interest rates and high home prices. This gives homeowners leverage to sell for the best possible terms.

In such a seller's market, houses are selling quickly. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return.

1. Make Buyers Feel at Home

One of the ways to make this happen is to take time to declutter. Pack away any personal items like pictures, awards, and sentimental belongings. The more neutral and tidy the space, the easier it is for a buyer to picture themselves living there. According to the 2021 Profile of Home Staging by NAR:

“82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house potentially attract the attention of more buyers and likely sell quickly, but the same report also notes:

“Eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%.”

As Jessica Lautz, Vice President of Demographics and Behavior Insights for NAR, says:

“Staging a home helps consumers see the full potential of a given space or property…It features the home in its best light and helps would-be buyers envision its various possibilities.”

2. Keep It Clean and Inviting

On top of making an effort to declutter, it’s important to keep your house neat and clean. Before a buyer stops by, be sure to pick up toys, make the beds, and wash the dishes. This is one more way to reduce the number of things that can distract a buyer from the appeal of the home.

Ensure your home smells fresh and clean as well. Buyers will remember the smell of your house, and according to the same report from NAR, the kitchen is one of the most important rooms of the house to focus on if you want to attract more buyers.

3. Give Buyers Easy Access

Buyers are less likely to make an offer on your house if they aren’t able to easily schedule a time to check it out. If your home is available anytime, that opens up more opportunities for multiple buyers to go from curious to eager. It also allows buyers on tight schedules to still get in to see your house.

While health continues to be a great concern throughout the country, it’s important to work with your agent to find the best safety measures and digital practices for your listing. This will drive visibility and create access options that also keep everyone in the process safe.

4. Price It Correctly

Even in a sellers’ market, it’s crucial to set your house at the right price to maximize selling potential. Pricing your house too high is actually a detriment to the sale. The goal is to drive high attention from competing buyers and let bidding wars push the final sales price up.

Work with your trusted real estate professional to determine the best list price for your house. Having an expert on your side in this process is truly essential.

If you want to sell your Torrance South Bay home on your terms, in the least amount of time, and for the best price, today’s market sets the stage to make that happen. Let’s connect today to determine the best ways to maximize the sale of your house this year.

 

Posted in Seller Tips
Oct. 17, 2023

September 2023 Market Report

torrance market update

 

South Bay real estate market continues to be a seller's market due to the very low inventory, low demand, low home sales, high interest rates reducing the buyer pool.  While the sales numbers are down, the prices are steady or a bit higher when compared to a year ago. See our August Report to compare numbers on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices.

Below are real estate market updates for selected major areas in South Bay CA and Beach Cities - Torrance and Redondo Beach. Below you'll find home selling data in September 2023 vs. September 2022, broken down by property type. Torrance home sales were up by 5 percent while the average sales price for single family homes was up by 6 percent. Redondo Beach home sales were up by 5 percent y-o-y while the average sales price for single family homes was down by 20 percent. See below for all detailed data.

You may create your own market report for any market, city, zip code, area, property type, save and receive email update. It'll help you to be current with your area market conditions. These reports can be helpful if you're either a buyer or a seller in South Bay LA.

 

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We'll be happy to help!

TORRANCE

Single Family Homes

Torrance September 2023 September 2022 Difference
No. of Sales 63 60 +5%
Average Price $1,183,036 $1,121,287 +14%
Median Price $1,194,605 $1,045,413 +6%
Days on Market 17 24 -7 days

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach  September 2023 September 2022 Difference 
No. of Sales 21 20 +5%
Average Price $1,552,219 $1,557,500  -
Median Price $1,560,000 $1,932,000 -20%
Days on Market 41 26 +15 days 

 

Redondo Beach Market Report in Real Time 

Every market is different, sometimes a couple of blocks make a bit difference.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

Posted in Market Updates
Sept. 18, 2023

South Bay Real Estate Report for August '23

South Bay Real Estate Report for August '23

South Bay real estate market is now a seller's market due to the very low inventory, stagnant home sales, high interest rates reducing the buyer pool.  While the sales numbers are down, the prices are steady or a bit higher when compared to a year ago. See our July Report to compare numbers on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices.

Below are real estate market reports for selected major markets in South Bay CA and Beach Cities - Torrance and Redondo Beach. Below you'll find property selling data in August '23 vs. August '22, broken down by property type. Torrance home sales were down by 9 percent while the average sales price for single family homes was up by 1 percent. Redondo Beach home sales were up by 15 percent y-o-y while the average sales price for single family homes was up by 29 percent. See below for all detailed data.

You may create your own market report for any market, city, zip code, area, property type, save and receive email update. It'll help you to be current with your area market conditions.

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We'll be happy to help!

TORRANCE

Single Family Homes

Torrance August 2023 August 2022 Difference
No. of Sales 70 64 -9%
Average Price $1,201,553 $1,194,196 +1%
Median Price $1,171,000 $1,133,000 +3%
Days on Market 16 14 -1 day

 

 

Condos & Townhomes

Torrance August 2023 August 2022 Difference
No. of Sales 33 22 +50%
Average Price $716,641 $709,900   +1%
Median Price $670,000 $710,000 -6%
Days on Market 14 19 -5 days

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach August 2023 August 2022 Difference 
No. of Sales 23 20 +15%
Average Price $2,184,505 $1,698,250 +29%
Median Price $1,370,000 $1,651,000 +1%
Days on Market 8 23 -15 days 

 

Condos & Townhomes

Redondo Beach August 2023 August 2022 Difference 
No. of Sales 39 32 +22%
Average Price $1,351,000 $1,336,251 +1%
Median Price $1,360,000 $1,255,000 +8%
Days on Market 12 20 -8 days

 

Redondo Beach Market Report in Real Time 

Every market is different, sometimes a couple of blocks make a bit difference.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

Posted in Market Updates
Aug. 12, 2023

This Month's Featured Community

This Month's Featured Community: Hollywood Riviera

Hollywood Riviera is an upscale neighborhood in Redondo Beach and Torrance California. Hollywood Riviera mostly features midsize luxury homes with ocean or city views.

If you're looking for a home with an ocean or city views, check out Hollywood Riviera. Lush established greenery, hills, views, ocean air and more...

The Hollywood Riviera was established by developer Clifford F. Reid in 1928. Inspired by the beauty of its seaside location and surrounding hills, he coined the name due to his familiarity with the French Riviera and to attract residents from the movie industry; thus the name: Hollywood Riviera.

Today's stats: Average listing price: $3.7M; Average bedrooms: 4.1; Average bathrooms: 4.1; Average living space in Sq Ft: 3,620

Currently there are 11 homes listing in this community. Click below for details:

Hollywood Riviera Homes For Sale

Aug. 11, 2023

South Bay Real Estate Report for July '23

South Bay Real Estate Report for July '23

South Bay real estate sales is showing more signs of market stabilization. While the sales numbers are down, the prices are steady or a bit lower y-o-y.  Numbers are up when compared to previous couple of months - see June Report. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices.

Below are real estate market reports for selected major markets in South Bay CA and Beach Cities - Torrance and Redondo Beach. Below you'll find property selling data in July '23 vs. July '22. Torrance home sales were down by 21 percent while the average sales price for single family homes was up by 1 percent. Redondo Beach home sales were down by 17 percent y-o-y while the average sales price for single family homes was up by 10 percent. See below for all detailed data.

You may create your own market report for any market, city, zip code, area, property type, save and receive email update.

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We'll be happy to help!

TORRANCE

Single Family Homes

Torrance July 2023 July 2022 Difference
No. of Sales 60 76 -21%
Median Price $1,137,500 $1,096,808 +4%
Average Price $1,177,614 $1,164,050 +1%
Days on Market 19 15 +4 days

 

 

Condos & Townhomes

Torrance July 2023 July 2022 Difference
No. of Sales 27 33 -18%
Median Price $675,000 $676,000   -
Average Price $656,741 $669,536 -2%
Days on Market 35 15 +20 days

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach July 2023 July 2022 Difference 
No. of Sales 25 30 -17%
Median Price $1,626,000 $1,682,500 -3%
Average Price $2,038,436 $1,848,654 +10%
Days on Market 13 18 -5 days 

 

Condos & Townhomes

Redondo Beach July 2023 July 2022 Difference 
No. of Sales 30 31 -3%
Median Price $1,337,500 $1,275,000 +5%
Average Price $1,327,541 $1,278,871 +4%
Days on Market 14 12 +2 days

 

Redondo Beach Market Report in Real Time 

Every market is different, sometimes a couple of blocks make a bit difference.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

Posted in Market Updates
July 17, 2023

This Month's Featured Community

This Month's Featured Community - Walteria

Walteria is a region of the city of Torrance in southern California. It is south of the Pacific Coast Highway. The local zip code is 90505. Walteria is named after Captain A. Richard Walters of Atkinson, Illinois. Captain Walters moved to the California farming area in the 1880s and built a stagecoach stop, the Walters Hotel, on a main road connecting the salt works in Redondo Beach with the harbor in San Pedro.

Walteria real estate is one of the most desired and luxurious in South Bay. The neighborhood consists mainly of single family homes with limited number of condos. Parts of Walteria are very walkable, close to restaurants, shops, parks with an easy access to the beach just minutes away. Award winning Torrance Unified Schools District and Walteria Elementary make it even more attractive to families.

Search All Walteria Homes For Sale

The median price in Walteria was $1,222,500, average price was $1,256,969 in the last 3 months, median days on market was 17 days (CRMLS data).


Currently there are 7 homes listed for sale in Walteria, the highest is listed at $2.5M for a new construction 5 bedroom house on Clarellen St. and the lowest is listed at $1,075,000 for a small 2 bd bungalow on Park St.

Contact us for a Free Tour of Walteria Homes For Sale

torrance beach

Torrance Beach

July 11, 2023

South Bay Real Estate Report for June '23

South Bay Real Estate Report for June '23

torrance and Redondo beach real estate market update

 

South Bay real estate sales slowed down and prices have come down but we do see signs of market stabilization. Numbers are up when compared to previous couple of months - see May Report. Despite higher interest rates, our local real estate market is showing a remarkable resilience, just like other markets.

Below are selected real estate market reports for selected major markets in South Bay CA and Beach Cities. Below you'll find property selling data in June '23 vs. June '22.

You'll also find links to see current listings and sold homes in last 3 months (all info is based on CRMLS). You may create your own market report for any market, city, zip code, area, property type, save and receive email update.

 Contact us for your Free Home Evaluation.  Call (310)918-5027 today. We'll be happy to help!

TORRANCE

Single Family Homes

Torrance June 2023 June 2022 Difference
No. of Sales 65 75 -4%
Median Price $1,200,000 $1,251,000 -4%
Average Price $1,205,608 $1,251,144 -4%
Days on Market 16 11 +5 days

 

 

Condos & Townhomes

Torrance June 2023 June 2022 Difference
No. of Sales 26 39 -33%
Median Price $655,500 $657,000   -
Average Price $724,154 $705,454 +3%
Days on Market 27 8 +19 days

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach June 2023 June 2022 Difference 
No. of Sales 33 31 +6%
Median Price $1,610,000 $1,698,000 -5%
Average Price $1,893,000 $2,086,145 -9%
Days on Market 22 8 +14 days 

 

Condos & Townhomes

Redondo Beach June 2023 June 2022 Difference 
No. of Sales 26 43 -40%
Median Price $1,287,500 $1,300,000 -1%
Average Price $1,345,471 $1,410,326 -5%
Days on Market 21 10 +11 days

 

Redondo Beach Market Report in Real Time 

Every market is different, sometimes a couple of blocks make a bit difference.  Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:

torrance home evaluation

Posted in Market Updates