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

Condos & Townhomes

Torrance Market Report in Real Time

REDONDO BEACH

Single Family Homes

Condos & Townhomes

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:

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

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

Condos & Townhomes

Torrance Market Report in Real Time

REDONDO BEACH

Single Family Homes

Condos & Townhomes

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:

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

South Bay Real Estate Report for June '23

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

Condos & Townhomes

Torrance Market Report in Real Time

REDONDO BEACH

Single Family Homes

Condos & Townhomes

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:

Featured Community - Breakwater Village

Breakwater Village in Redondo Beach is the resort style 55+ active senior community. It is one of only two over 55 communities in Redondo Beach. Tucked away from Artesia Blvd, it ensures the serenity and privacy to its residents. This beautiful community offers more amenities than most in our area: pool, active community center with gym, movie theater, kitchen for special events, outdoor fireplace, private park. Breakwater Village is walking distance to the Redondo Beach Galleria with many shops and restaurants. South Bay beaches are only 3 miles away:)

Breakwater Village consists of 191 units, ranging from 1 bd 1 bath to 3 bd 2 bath. Those condos are very popular and rarely become available for purchase. 

Currently, there are only two condos listed for sale at Breakwater: both are 2 bd units.  Click below to view current listings and additional information:

Breakwater Village Condos For Sale

Contact us for a Free Tour of available Breakwater Village condos for sale as well other 55+ condos in South Bay. Call (310)918-5027 today!

South Bay real estate showed more signs of slowing down in May. Home sales are down as a result of higher interest rates and affordability issues. 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 May '23 vs. May '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

Condos & Townhomes

Torrance Market Report in Real Time

REDONDO BEACH

Single Family Homes

Condos & Townhomes

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 Market Update - April 2023

Total of 46 single family homes sold in Torrance in April. The average sold price was $1,195,116; median price was $1,105,500. The lowest sold price was $520,000, the highest was $2,340,000. Number of sales went down compared to 12 months ago from 76 to 46 - 39% drop. The average sold price was down by 8 percent; the median price was down by 15 percent.  Homes listed for sale stayed on the market longer, on average 27days vs. 10 days a year ago. See below for detailed information ((all data is for single family homes only - source CRMLS):

APRIL 2023

APRIL 2022

This data indicates a buyer's market in Torrance CA. Homebuyers don't have to compete for properties as it was a case in the past few years.

If you're a seller contact us for a Free home evaluation - every market is different, every neighborhood is different.  We'll prepare a custom market report for your home with no obligation. Contact us via email or call (310)918-5027 today!

Create your own instant market report - Find out recent sales in your neighborhood, zip code, city etc.

Torrance Market Update - May 2022

How's the market? I get asked this question a lot, especially lately, since it seems the real estate market is changing. It's too early to see the trend, so please contact us for your area update or your home market evaluation. We'll also be posting monthly and quarterly updates here.

Below are stats for last month compared to a year ago.

Data for single family homes only; based on CRMLS

Home sales were strong in Torrance last month, with just a 9 fewer homes sold. Average sold house price was 28% higher as compared to May '21; the median price also went up.

As of today, 94 houses are listed for sale in Torrance; the average listed price is $1,379,307; median is $1,232,000.

Benefits of Buying a Home

Benefits of buying a home. Purchasing a home can bring many benefits, not just financial but also emotional. South Bay real estate offers a wide range of homes, from oceanfront condos and houses to more affordable entry level homes.  Let us help you find your South Bay home for sale and start your equity building journey.  Call (310)918-5027 or click the link to send us a note - Contact us and we'll get back to you right away!

1. Home ownership can be a source of pride and happiness 

2. It will enhance the sense of community pride

3. It will contribute to your long term financial stability

4. It can grow your wealth

When you purchase a house, it becomes more than just a space you occupy. It’s your stake in the community, an investment, and a place you can put your stamp on.

If you’re thinking about buying a home this year, here are some of the benefits you’ll experience when you do.

The Emotional Benefits of Homeownership

Because it’s a place that’s uniquely yours, owning a home can give you a sense of pride and happiness in several ways.

Your Home Can Reflect Your Tastes and Personality

Investopedia puts it like this: “One often-cited benefit of homeownership is the knowledge that you own your little corner of the world.”

That knowledge can lead to a powerful, emotional connection to the place where you live. But so can the realization that your home will grow with you. Because it’s yours, you have the freedom to make updates to it as your needs and tastes change. As Logan Mohtashami, Lead Analyst for HousingWire, says: “The psychology is that this is yours and you’re going to make it as good as possible because you’re in for a long time, . . . “

And that can create a greater sense of ownership, pride, and connection with your home and your community.

It Can Enhance Your Neighborhood and Civic Engagement

Homeownership can lead you to get even more involved with your local area. After all, you’re putting your roots down in a location and will want to do what you can to help improve it, much like your home. In a recent report, the National Association of Realtors (NAR) says:

“Living in one place for a longer amount of time creates and [sic] obvious sense of community pride, which may lead to more investment in said community.”

The Financial Benefits of Homeownership

When you choose to become a homeowner, you’re making a financial decision as well. That’s because your home is also an investment.

It Can Help You Feel Financially Stable

Homeownership is truly one of the best ways to improve your long-term financial position. Not only will you have a predictable monthly housing expense that can benefit your budget in the short term, but you’ll also gain equity as your home appreciates in value and you make your monthly mortgage payment. As Freddie Mac says:

“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”

It Can Grow Your Wealth

Because of your growing equity, you can build your net worth as a homeowner. And when you compare the difference in net worth between a renter and a homeowner, it’s clear that owning a home truly offers a great way to build your long-term financial position.

According to the latest data from NAR, the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner’s net worth is nearly 40 times that of a renter.

Buying a home is truly a way to find greater satisfaction and happiness and to build financial freedom. If you're thinking buying a home, Contact us - your local South Bay real estate professionals to begin the process today.