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!

May 5, 2025

How To Airbnb Your Home

How To Airbnb Your Home

house interior

South Bay is always in demand either from tourists or business professionals looking for a short term rental. It creates an opportunity for the Torrance and Beach Cities homeowners and investors.

See dollar signs every time you look at your empty guest bedroom or finished (but underused) basement? Or maybe you strategically bought a home that has great Airbnb rental potential, whether it features an accessory dwelling unit (ADU) in the backyard or a space within the home with its own entry that can be used as an apartment. Knowing how to Airbnb your home can be a great way to earn some extra income. You're in charge of the schedule, so you can determine exactly when your place is available for short-term stays.

However, if you’re like the majority of people who list their homes on Airbnb, you probably don’t have property-management or hospitality experience and are venturing into unknown territory as you set up a revenue-generating rental property. To help you navigate this process, we’ve put together an expert-approved, step-by-step guide for how to Airbnb your home, complete with tips from short-term rental experts. Here's what to know.

Check Your Local Regulations

 

Before you pour any money into setting up your home for an Airbnb listing, research the short-term rental laws in your city and find out if you need a permit. Local regulations run the gamut from capping the number of nights an Airbnb can be rented to limiting the number of guests.

Review Your HOA Bylaws

If you live in a neighborhood with a homeowners' association, comb through your bylaws to make sure Airbnbs are allowed, and, if so, what types of restrictions are placed on them. Also, be sure to check your HOA’s meeting minutes to make sure new restrictions aren’t on the horizon before you start investing in setting up an Airbnb.

Calculate Earning Potential

Before you put your Airbnb on the market, you'll want to have an idea of how much you'll be earning from it. In addition to using Airbnb’s pricing tools, you can use sites like AirDNA, Airbtics, and Mashvisor to glean revenue insights.

 

Do some of your own research, too, by checking other listings on Airbnb and VRBO to determine the rates in your area for comparable properties and watch for trends, Woitunski says. You'll usually be able to charge above market price if you have a well-designed space, good photography, and competitive occupancy rates. You can also speak with a few property management companies in the area to get their insight, she says.

Credit: House Beautiful

April 10, 2025

South Bay Market Update - 1st Qtr 2025

South Bay Market Update - 1st Qtr 2025

South Bay Market Update

South Bay Market in the 1st Qtr 2025 showed mixed resultes. It is still a seller's market due to the very low inventory, low demand, lower property sales, high interest rates - all of these factors reducing the homebuyer pool.  Single family home sales are down, the prices are steady or higher when compared to a year ago. Condo and townhome sales were up as the affordability have affected house sales. 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 the 1st qtr 2025 compared to the same period 12 months age, broken down by property type. Torrance single family home sales were down by 9 percent while the average sales price for single family homes was down by 1 percent. Redondo Beach home single family home sales were up by 58 percent y-o-y while the average sales price for single family homes was up by 5 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. 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 1st Qtr 2025 1st Qtr 2024 Difference
No. of Sales 121 133 -9%
Median Price $1,220,000 $1,200,000 +2%
Average Price $1,234,008 $1,246,246 -1%
Days on Market 24 19 +5 days

 

Condos and Townhomes

Torrance
1st Qtr 2025
1st Qtr 2024 Difference
No. of Sales 52 73 -29%
Median Price $787,000 $680,000 +16%
Average Price $758,219 $719,024 +5%
Days on Market 12 29 - 17 days day

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach  
1st Qtr 2025
1st Qtr 2024 Difference 
No. of Sales 60 38 +58%
Median Price $2,059,905 $1,837,500  +12%
Average Price $1,852,500 $1,922,979 -4%
Days on Market 35 35  no change

 

Condos and Townhomes

Redondo Beach
1st Qtr 2025
1st Qtr 2024 Difference
No. of Sales 68 55 +24%
Median Price $1,399,700 $1,400,000  no change
Average Price $1,473,396 $1,433,555 +3%
Days on Market 44 35 +9 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 Market Update - 1st Qtr 2025

Posted in Market Updates
April 2, 2025

California Real Estate Market - Feb '25

California real estate market rebounds in February with highest home sales in more than two years, C.A.R. reports

  • Existing, single-family home sales totaled 283,540 in February on a seasonally adjusted annualized rate, up 11.6 percent from 254,110 in January and up 2.6 percent from 276,280 in February 2024.
  • February’s statewide median home price was $829,060, down 1.2 percent from January and up 2.8 percent from $806,480 in February 2024.

  • Year-to-date statewide home sales were up 0.4 percent.

LOS ANGELES (March 18) – California’s housing market rebounded in February as statewide home sales reached the highest level in more than two years amid declining mortgage rates at the start of the year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Infographic: https://www.car.org/Global/Infographics/2025-02-Sales-and-Price


Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 283,540 in February, according to information collected by C.A.R. from more than 90 local REALTOR
® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2025 if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

February’s sales pace surged 11.6 percent from the 254,110 homes sold in January and was up 2.6 percent from a year ago, when a revised 276,280 homes were sold on an annualized basis. The February sales level was the highest since October 2022. Although home sales have rebounded strongly, they have remained below the 300,000 mark since September 2022. With uncertainty remaining the theme for at least the first half of this year, housing sentiment could be negatively impacted, and home sales, as a result, could remain soft in the upcoming months.

Statewide pending sales in February dipped from last year’s level for the third consecutive month, but the drop was much smaller than the decline observed in January. The sales dip of homes in escrow could be due in part to a jump in mortgage rates at the beginning of February, but the public’s growing concern of a recession may also have played a role in the slowdown in housing demand in recent weeks. The ongoing policy and economic uncertainties have been weighing on consumer confidence and have created instability in the financial market in the past few weeks. With mortgage rates expected to remain volatile in the near term, pending sales could continue to fluctuate as the market enters the spring homebuying season. 

“California home sales rebounded strongly in February after a sluggish start to the year, supported by increased buyer activity and more available homes on the market,” said C.A.R. President Heather Ozur, a Palm Springs REALTOR®. “Lower borrowing costs made homeownership more accessible to buyers who were previously sidelined by affordability challenges, while the rise in available inventory will help ease some of the competitive pressures that have defined the market in recent years and set a positive tone for the market for the rest of the year.”   

The February statewide median price increased on a year-over-year basis for the 20th straight month, but the gain recorded was the smallest since July 2023. On a month-to-month basis, the February median price dipped from the prior month, and the monthly drop was larger than the 10-year historical average dip of -0.7 percent recorded between the two months. The downward trend in the statewide median price will likely reverse in the coming months, however, as home prices typically begin rising in March and continue climbing until the end of the homebuying season in August.

“The moderation in mortgage rates that began at the start of the year, coupled with a noticeable increase in homes for sale last month, provided a much-needed boost to California’s housing market in February,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “Although sales are still below historical averages, this increase marks an encouraging shift in the market. Despite ongoing economic and policy uncertainties, mortgage rates are expected to stabilize later this year. As a result, the housing market is likely to see continued improvement through the second and third quarters of 2025.”

Other key points from C.A.R.’s February 2025 resale housing report include: 

  • At the regional level, raw sales in two of the five major regions in California improved from a year ago while the others declined mildly. The San Francisco Bay Area recorded the largest gain from last year at an increase of 3.5 percent in sales, followed by the Central Coast (1.6 percent). Meanwhile, sales of existing single-family homes declined from a year ago in the Far North region (-4.9 percent), Central Valley (-3.5 percent) and Southern California (-3.0 percent). One less transaction day this February compared to last year was a factor in the year-over-year decline in those counties, as sales at the county level are not seasonally adjusted.

     

  • Twenty-three of the 53 counties tracked by C.A.R. posted sales increases from a year ago, with nearly half of them (11 counties) posting sales surges of more than 10 percent on a year-over-year basis. Calaveras (35.5 percent) registered the biggest sales jump from February 2023, followed by Imperial (33.3 percent), and Amador (21.9 percent). Home sales decreased from last year in 27 counties, with 14 of them posting declines of more than 10 percent and five counties of more than 20 percent. Tehama (-43.5 percent) registered the biggest sales drop in February, followed by Trinity (-28.6 percent) and Tuolumne (-24.1 percent). With spring storms hitting hard in some of these counties in February, weather conditions could be a reason for the drop in home sales last month for those areas.

     

  • At the regional level, all major regions in California, except for one, registered a year-over-year median price increase in February. The Central Coast region posted the largest price growth from a year ago with a jump of 9.4 percent, followed by Southern California (4.8 percent), the Central Valley (3.5 percent) and the Far North region (1.8 percent). The San Francisco Bay Area (-0.5 percent) was the only region to record an annual price decline in February. While the dip was fairly marginal, February was the first time in five months that the region’s median price experienced a decline year-over-year. Strong sales increases in Solano and Sonoma ― two of the most affordable markets in the region ― likely shifted the mix of sales towards lower-priced home sales, resulting in a more moderate median price for the Bay Area as a whole last month.

     

  • Home prices increased on a year-over-year basis in three-fourths of the counties in California, with February’s median sales prices rising from their year-ago levels in 40 of the 53 counties tracked by C.A.R. Santa Barbara (55.2 percent) registered the biggest price growth of all counties last month, due primarily to a sales surge in Santa Barbara’s South Coast. Mono (23 percent) and Del Norte (19.3 percent) came in second and third respectively, and seven other counties in the state also registered double digit price increases. Eleven counties recorded a drop in their median price from a year ago, with Trinity falling the most at 58.9 percent, followed by Siskiyou (-16.2 percent), and Calaveras (-12.6 percent).

     

  • The statewide Unsold Inventory Index (UII), which measures the number of months needed to sell the supply of homes on the market at the current sales rate, dipped month over month but grew solidly from its year-ago level as more new listings hit the market. The index was 4.0 months in February, down from 4.1 months in January and up from 2.9 months in February 2024. 

     

  • Total active listings in February, in fact, grew at the fastest pace in two years. The level of active listings last month was at a 4-month-high and marked the 13th consecutive month of annual gains in housing supply. The strong year-over-year growth continues to be an encouraging sign for the market, especially for buyers.

     

  • New active listings at the state level rose year-over-year by double-digits for the second consecutive month, as more sellers decided to list their homes for sale. While the number of newly added properties remained below the pre-pandemic level, the latest figure recorded last month was nearly on par with the level of newly added listings recorded in 2022. New active listings, however, also recorded their first January-to-February decline in the last five years. The unusual dip could either be just a temporary hiccup due to the recent financial market volatility, or it could be a signal of the concern of the economy’s well-being, which could in turn have a lingering effect on supply in the upcoming spring homebuying season.

 

  • The median number of days it took to sell a California single-family home was 26 days in February, up from 22 days in February 2024. 
  • C.A.R.’s statewide sales-price-to-list-price ratio* was 99.9 percent in February 2025 and 100 percent in February 2024.
  • The statewide median price per square foot** for an existing single-family home was $421, up from $407 in February a year ago.
  • The 30-year, fixed-mortgage interest rate averaged 6.84 percent in February, up from 6.78 percent in February 2024, according to C.A.R.’s calculations based on Freddie Mac’s weekly mortgage survey data.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data is not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower end or the upper end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes. 

*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its original list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price. 

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 53 counties. 

Leading the way…® in California real estate for nearly 120 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Sacramento

# # #

February 2025 County Sales and Price Activity
(and condo sales data not seasonally adjusted)

February 2025

Median Sales Price of Existing Single-Family Homes

Sales

State/Region/County

Feb.

2025

Jan.

2025

 

Feb.

2024

 

Price MTM% Chg

Price YTY% Chg

Sales MTM% Chg

Sales YTY% Chg

Calif. Single-family home

$829,060

$838,850

 

$806,480

r

-1.2%

2.8%

11.6%

2.6%

Calif. Condo/Townhome

$675,000

$649,000

 

$660,000

 

4.0%

2.3%

21.1%

-0.4%

Los Angeles Metro Area

$824,900

$820,000

 

$790,000

 

0.6%

4.4%

9.0%

-2.5%

Central Coast

$1,039,500

$1,060,000

 

$950,000

 

-1.9%

9.4%

8.4%

1.6%

Central Valley

$495,000

$480,000

 

$478,200

 

3.1%

3.5%

6.0%

-3.5%

Far North

$386,000

$400,000

 

$379,000

 

-3.5%

1.8%

7.9%

-4.9%

Inland Empire

$611,300

$600,000

 

$576,500

 

1.9%

6.0%

13.9%

-4.3%

San Francisco Bay Area

$1,250,000

$1,125,000

 

$1,256,500

 

11.1%

-0.5%

28.8%

3.5%

Southern California

$866,400

$850,500

 

$827,000

r

1.9%

4.8%

9.3%

-3.0%

 

 

 

 

 

 

 

 

 

 

San Francisco Bay Area

 

 

 

 

 

 

 

 

 

Alameda

$1,300,000

$1,150,000

 

$1,300,000

 

13.0%

0.0%

42.7%

2.8%

Contra Costa

$841,000

$785,000

 

$850,000

 

7.1%

-1.1%

34.3%

-1.8%

Marin

$1,675,000

$1,332,500

 

$1,610,000

 

25.7%

4.0%

55.8%

17.4%

Napa

$1,018,500

$917,500

 

$882,500

 

11.0%

15.4%

0.0%

-15.4%

San Francisco

$1,600,000

$1,432,500

 

$1,590,000

 

11.7%

0.6%

13.9%

2.2%

San Mateo

$2,200,000

$1,960,000

 

$1,922,500

 

12.2%

14.4%

24.8%

-9.0%

Santa Clara

$2,000,000

$1,840,000

 

$1,808,890

 

8.7%

10.6%

21.3%

0.7%

Solano

$600,000

$565,000

 

$580,000

 

6.2%

3.4%

32.4%

21.3%

Sonoma

$852,560

$811,470

 

$826,500

 

5.1%

3.2%

17.2%

20.0%

Southern California

 

 

 

 

 

 

 

 

 

Imperial

$394,000

$386,750

 

$355,000

 

1.9%

11.0%

100.0%

33.3%

Los Angeles

$852,190

$886,400

 

$817,100

 

-3.9%

4.3%

4.8%

-2.4%

Orange 

$1,465,500

$1,430,000

 

$1,350,000

 

2.5%

8.6%

9.5%

0.0%

Riverside 

$646,840

$645,000

 

$624,900

r

0.3%

3.5%

14.2%

-1.6%

San Bernardino

$490,000

$505,000

 

$450,000

r

-3.0%

8.9%

12.5%

-8.7%

San Diego

$1,040,000

$1,030,000

 

$980,000

 

1.0%

6.1%

8.4%

-6.2%

Ventura

$969,500

$875,000

 

$890,000

 

10.8%

8.9%

6.3%

1.4%

Central Coast

 

 

 

 

 

 

 

 

 

Monterey

$900,000

$965,000

 

$860,000

 

-6.7%

4.7%

-15.7%

9.2%

San Luis Obispo

$967,500

$920,000

 

$900,000

 

5.2%

7.5%

33.9%

2.0%

Santa Barbara

$1,515,000

$1,550,010

 

$976,000

 

-2.3%

55.2%

26.2%

2.3%

Santa Cruz

$1,260,000

$1,199,500

 

$1,232,500

 

5.0%

2.2%

-17.6%

-12.5%

Central Valley

 

 

 

 

 

 

 

 

 

Fresno

$442,850

$426,690

 

$420,000

 

3.8%

5.4%

2.3%

-8.1%

Glenn

$335,000

$327,500

 

$360,000

 

2.3%

-6.9%

-16.7%

-9.1%

Kern

$409,900

$390,000

 

$386,500

 

5.1%

6.1%

13.3%

-1.0%

Kings

$375,000

$365,990

 

$339,950

 

2.5%

10.3%

48.3%

-23.2%

Madera

$425,000

$441,940

 

$417,880

 

-3.8%

1.7%

11.5%

-18.9%

Merced

$414,500

$415,000

 

$401,600

 

-0.1%

3.2%

5.3%

-9.1%

Placer

$649,000

$650,000

 

$650,000

 

-0.2%

-0.2%

25.2%

6.1%

Sacramento

$550,000

$540,000

 

$530,000

 

1.9%

3.8%

2.0%

-3.8%

San Benito

$780,000

$777,500

 

$795,000

 

0.3%

-1.9%

-3.6%

-22.9%

San Joaquin

$540,000

$510,000

 

$529,000

 

5.9%

2.1%

0.0%

4.0%

Stanislaus

$460,000

$460,000

 

$460,000

 

0.0%

0.0%

1.0%

-9.9%

Tulare

$380,000

$371,900

 

$359,990

 

2.2%

5.6%

0.0%

7.6%

Far North

 

 

 

 

 

 

 

 

 

Butte

$449,000

$443,000

 

$451,120

 

1.4%

-0.5%

14.1%

10.6%

Lassen

$284,500

$231,000

 

$263,000

 

23.2%

8.2%

-55.6%

-11.1%

Plumas

$359,500

$450,000

 

$370,000

 

-20.1%

-2.8%

-26.3%

-12.5%

Shasta

$386,000

$405,000

 

$366,250

 

-4.7%

5.4%

17.4%

-6.3%

Siskiyou 

$285,000

$303,000

 

$340,000

 

-5.9%

-16.2%

26.3%

14.3%

Tehama

$360,000

$337,450

 

$349,000

 

6.7%

3.2%

-7.1%

-43.5%

Trinity

$115,000

$442,500

 

$280,000

 

-74.0%

-58.9%

66.7%

-28.6%

Other Calif. Counties

 

 

 

 

 

 

 

 

 

Amador

$460,000

$437,000

 

$407,500

 

5.3%

12.9%

95.0%

21.9%

Calaveras

$415,000

$449,500

 

$475,000

 

-7.7%

-12.6%

-19.2%

35.5%

Del Norte

$352,000

$385,500

 

$295,000

 

-8.7%

19.3%

20.0%

0.0%

El Dorado

$677,000

$615,000

 

$647,500

 

10.1%

4.6%

22.4%

2.5%

Humboldt

$431,000

$407,500

 

$420,000

 

5.8%

2.6%

37.7%

14.1%

Lake

$352,500

$340,000

 

$315,000

 

3.7%

11.9%

24.3%

12.2%

Mariposa

$410,000

$650,000

 

$390,000

 

-36.9%

5.1%

75.0%

-12.5%

Mendocino

$535,500

$498,000

 

$499,000

 

7.5%

7.3%

-3.6%

-18.2%

Mono

$1,350,000

$485,000

 

$1,097,500

 

178.4%

23.0%

0.0%

-12.5%

Nevada

$512,950

$525,000

 

$530,000

 

-2.3%

-3.2%

-10.1%

-12.7%

Sutter

$417,500

$405,000

 

$415,000

 

3.1%

0.6%

13.5%

20.0%

Tuolumne

$381,000

$364,000

 

$430,000

 

4.7%

-11.4%

-14.6%

-24.1%

Yolo

$633,500

$600,000

 

$618,940

 

5.6%

2.4%

0.0%

0.0%

Yuba

$459,000

$441,000

 

$426,500

 

4.1%

7.6%

41.3%

8.3%

r = revised
NA = not available

 

February 2025 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

February 2025

Unsold Inventory Index

Median Time on Market

State/Region/County

Feb.

2025

Jan.

2025

 

Feb.

2024

 

Feb.

2025

Jan.

2025

 

Feb.

2024

 

Calif. Single-family home

4.0

4.1

 

2.9

r

26.0

35.0

 

22.0

 

Calif. Condo/Townhome

4.2

4.5

 

2.9

 

28.0

39.0

 

21.0

 

Los Angeles Metro Area

4.3

4.3

 

3.2

 

34.0

37.0

 

27.0

 

Central Coast

4.1

4.1

 

3.4

 

26.5

32.0

 

20.0

 

Central Valley

3.9

3.8

 

2.9

 

26.0

34.0

 

21.0

 

Far North

5.8

6.0

 

4.4

 

42.5

50.0

 

47.0

 

Inland Empire

5.1

5.4

r

3.6

 

43.0

45.0

 

37.0

 

San Francisco Bay Area

3.2

3.2

 

2.1

 

13.0

29.0

 

14.0

 

Southern California

4.1

4.1

 

3.0

 

30.0

36.0

 

23.0

 

 

 

 

 

 

 

 

 

 

 

 

San Francisco Bay Area

 

 

 

 

 

 

 

 

 

 

Alameda

3.0

3.2

 

1.5

 

11.0

17.0

 

10.0

r

Contra Costa

3.4

3.6

 

1.6

 

11.5

26.0

 

11.0

 

Marin

3.5

3.9

 

2.9

 

52.0

103.0

 

70.0

 

Napa

8.4

6.8

 

4.4

 

99.5

92.0

 

77.5

 

San Francisco

2.2

2.2

 

2.3

 

37.0

57.0

 

42.0

 

San Mateo

2.5

2.4

 

2.1

 

9.0

12.0

 

10.0

 

Santa Clara

2.5

2.1

 

1.9

 

8.0

10.0

 

8.0

 

Solano

3.2

4.0

 

2.9

 

46.0

64.0

 

50.5

 

Sonoma

4.3

4.1

 

3.5

 

73.5

61.5

 

66.5

 

Southern California

 

 

 

 

 

 

 

 

 

 

Imperial

3.2

6.2

 

3.1

 

33.5

11.0

 

16.0

 

Los Angeles

4.1

4.0

 

3.1

 

30.0

33.0

 

21.0

 

Orange 

3.4

3.2

 

2.5

 

23.0

34.0

 

20.0

 

Riverside 

4.9

5.2

 

3.6

r

45.0

46.0

 

38.5

r

San Bernardino

5.7

6.1

r

3.7

r

38.0

45.0

 

35.0

 

San Diego

3.4

3.4

 

2.3

 

16.0

29.0

 

13.0

 

Ventura

4.0

3.8

 

2.7

 

36.0

40.0

 

32.0

 

Central Coast

 

 

 

 

 

 

 

 

 

 

Monterey

4.5

3.4

 

3.9

 

19.0

24.0

 

15.5

 

San Luis Obispo

3.6

4.7

 

3.2

 

48.0

45.0

 

39.0

 

Santa Barbara

3.6

4.4

 

3.1

 

18.0

36.0

 

12.5

 

Santa Cruz

5.8

3.8

 

3.6

 

18.0

28.5

 

16.0

 

Central Valley

 

 

 

 

 

 

 

 

 

 

Fresno

4.4

4.4

 

3.4

 

26.5

33.0

 

21.5

r

Glenn

4.9

3.6

 

3.2

 

56.5

84.5

 

32.0

 

Kern

3.7

3.9

 

2.8

 

22.0

29.0

 

23.0

 

Kings 

4.4

6.4

 

3.6

 

30.0

31.0

 

16.0

r

Madera

5.7

6.0

 

3.9

 

32.0

57.5

 

36.0

r

Merced

4.3

4.5

 

2.9

 

32.0

38.0

 

37.0

 

Placer 

3.5

3.7

 

2.7

 

27.0

42.5

 

23.0

 

Sacramento

3.1

2.7

 

2.2

 

21.0

34.0

 

17.0

 

San Benito

4.6

3.9

 

3.3

 

22.0

24.5

 

40.0

 

San Joaquin

4.1

3.8

 

3.0

 

31.0

35.0

 

25.5

 

Stanislaus

4.2

3.9

 

2.7

 

26.0

35.0

 

16.0

 

Tulare

4.0

4.0

 

3.7

 

39.0

27.0

 

28.0

 

Far North

 

 

 

 

 

 

 

 

 

 

Butte 

4.0

4.3

 

3.4

 

30.0

34.5

 

36.5

 

Lassen

11.3

4.6

 

9.1

 

85.5

20.0

 

110.0

 

Plumas

7.7

5.1

 

4.2

r

130.5

146.0

 

77.0

r

Shasta

5.2

5.8

 

3.7

 

27.0

47.0

 

39.5

 

Siskiyou 

7.1

9.2

 

7.9

 

138.5

96.0

 

79.0

 

Tehama

9.1

8.5

 

4.2

 

35.0

66.0

 

62.0

 

Trinity

19.2

29.0

 

13.4

 

250.0

237.0

 

160.0

 

Other Calif. Counties 

 

 

 

 

 

 

 

 

 

 

Amador

5.6

10.4

 

5.6

 

65.0

46.0

 

47.0

 

Calaveras

7.0

5.4

 

6.4

 

75.0

68.0

 

68.0

 

Del Norte

6.8

8.2

 

6.6

r

34.5

64.0

 

38.5

 

El Dorado 

4.8

5.2

 

3.7

 

45.5

53.5

 

57.5

r

Humboldt

7.0

9.2

 

6.8

 

69.0

48.0

 

52.0

 

Lake 

8.3

9.8

 

8.1

 

37.0

85.0

 

61.0

 

Mariposa

13.3

22.5

 

9.6

 

64.0

165.0

 

36.5

 

Mendocino

12.4

10.9

 

8.4

 

116.0

83.0

 

77.0

 

Mono

3.0

3.6

 

1.8

 

106.0

56.0

 

76.5

 

Nevada

5.6

4.5

 

3.6

 

52.0

78.0

 

41.0

 

Sutter

3.1

3.5

 

2.7

 

61.5

26.0

 

16.0

 

Tuolumne

9.0

6.9

 

3.5

 

92.0

66.0

 

76.0

r

Yolo

3.2

3.9

 

2.2

 

39.0

36.0

 

32.0

 

Yuba

4.3

5.6

 

3.7

 

49.0

45.0

 

31.5

 

r = revised 
NA = not available

 

All data based on C.A.R. press release. Please check back in in a few days for our local South Bay Torrance area market update.

Call/email us anytime for details and your local area market report. We'll be happy to help! Call (310)918-5027 today!

 

 

 

 

 

 

 

 

 

Posted in Market Updates
March 29, 2025

Torrance Cherry Blossom Festival

Torrance Cherry Blossom Festival

torrance cherry blossoms

Torrance Cherry Blossom Festival is today! Celebrate a day of culture, community in Torrance CA! enjoy live Pan-Asian performances, handcrafted goods at the Arts and Crafts Fair, savor delicious food  and more. This is a wonderful, family friendly event featuring free art projects and interactive activities and "of course" admire and beauty of cherry blossoms.

Click below for more information

https://discovertorrance.com/events/torrance-cherry-blossom-festival/

Hope to see you there!

 

Jan. 30, 2025

Torrance Market Report - 2024 vs 2023

Torrance Market Year End Report - 2024 vs 2023

torrance ca market report

 

Torrance market was a seller's market in 2024. Home sales were lower than in the previous years. The buyer demand was lower than in 2023 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. This created an imbalance in our market that pushed home prices up.

Below you'll find property sales data in the year 2024 as it compares to the year 2023, broken down by property type. Torrance single family home sales were lower by  percent while the average sales price for single family homes was up by 8 percent. The condo market recorded better sales and higher prices. Most probably, it was due to the affordability crisis especially hitting first time buyers.

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 2024 Year 2023 Difference
No. of Sales 615 629 -2 %
Average Price $1,253,231 $1,115,693 +8 %
Median Price $1,205,000 $1,125,000 + 7%
Days on Market 19 22 - 3 days

 

Condos and Townhomes

Torrance Year 2024 Year 2023 Difference
No. of Sales 291 257 +13 %
Average Price $749,714 $681,821 +10%
Median Price $739,000 $675,000 +9%
Days on Market 27 27 no change

 

Torrance Market Report in Real Time

 

Posted in Market Updates
Jan. 2, 2025

Mortgage Rates Predictions for 2025

Mortgage Rates Predictions for 2025

mortgage rates 2025

Mortgage rates did not go down as hoped despite all the mortgage drama from Federal Reserve policy of lowering the rates.

Mortgage rates averaged 6.72% in 2024. That may sound high to young people or folks with short memories, but it ranks only as the 31st-highest yearly rate out of these 52 years.

 

The old-timers can tell you tales about the worst year for borrowers – the 16.7% rates of 1981.

What will mortgage rates be in 2025?

Given the volatility of mortgage interest rates over the past two years, it’s impossible to predict where rates will land in 2025. Our best educated guess is that mortgage rates will be lower by the end of 2025 than they’ll be at the start of the year, with the possibility of volatility in between. The picture can change depending on inflation, income growth, unemployment and other economic factors.

Volatile rates offer risk and opportunity. Even small changes in interest rates can have an impact on the size of your mortgage payment, so serious buyers — especially those in expensive markets — should keep an eye on rates to see how it affects not only their future mortgage payment but how much they can comfortably spend on a home.

Contact us anytime for more details and free mortgage pre qualification.

 

Nov. 25, 2024

Mortgage Market Update - November '24

Mortgage Market Update - November '24

mortgage update

If you're considering buying or selling Torrance and South Bay real estate, you are probably watching the interest rate trends and the mortgage market. Here is the latest update:

A Look Into the Markets

 

Interest rates continue to trade within a wide sideways range while resisting the urge to hit new highs. Let's look at what happened and peek into the week ahead.

 

"It's not so easy to control (pressure) There's always an easy way to make it better." - White Knuckle Ride by Jamiroquai.

 

 

 

Ukraine and Russia Escalation

Unfortunately, this past week saw an escalation of tensions between Ukraine and Russia. Ukraine fired Western missiles into Russia for the first time during this conflict. In response, Russia announced that the country would lower the threshold to deploy nuclear weapons. This uncertain news created a "safe haven" trade into the U.S. Dollar and U.S. Dollar-denominated assets like bonds.

However, the price gains and rate improvement were limited as this news also caused a spike in oil prices, which bonds do not favor. Let's hope things do not escalate further in the region.


Mixed Economic Signals

The Philadelphia Fed Manufacturing Index, which measures manufacturing in the region, came in well below expectations. The news highlights the weakness and economic contraction in our manufacturing sector—one that also continues to shed jobs every month. Weak economic data like this gives the Federal Reserve reason to consider cutting rates again in December.

However, Initial Jobless Claims, a weekly reading that shows how many people file for first-time unemployment benefits, remains at historically low levels, suggesting the labor market remains resilient.

Since the Fed has said that "further cooling in the labor market would be unwelcome," they must like seeing people not being laid off.


Housing News

This past week, both Housing Starts and Permits came in below expectations. However, this weakness was offset by the National Association of Home Builders (NAHB) showing new optimism looking out 6 months due to a new government, which will likely decrease regulatory hurdles and costs to build new homes.

To get a sense of what the NAHB is thinking, here's the blueprint they just provided to help with the housing affordability crisis.

With policymakers at all levels of government looking for ways to provide more affordable homeownership and rental housing opportunities for all Americans, NAHB is offering a plan that outlines initiatives that can be taken at the local, state, and federal levels to address the root of the problem: the impediments to increasing the nation's housing supply.
 

1. Eliminate excessive regulations.
2. Promote careers in the skilled trades.
3. Fix building material supply chains and ease costs.
4. Pass federal tax legislation to expand the production of affordable and attainable housing.
5. Overturn inefficient local zoning rules.
6. Alleviate permitting roadblocks.
7. Adopt reasonable and cost-effective building codes.
8. Reduce local impact fees and other upfront taxes associated with housing construction.
9. Make it easier for developers to finance new housing.
10. Update employment policies to promote flexibility and opportunity.


Wide Sideways Range

For the past month, mortgage rates have fluctuated within a wide sideways range but have resisted reaching new highs as the 10-year Note continues to trade below 4.50%. The 10-year Note yield range for the past month has been 4.30% to 4.50%. If the yield exceeds 4.50%, mortgage rates will increase. The opposite is also true.


Bottom line: Interest rates are trying to stabilize after the spike that started back in September. With a new administration still weeks away, we may continue to see bonds and rates move in a volatile sideways fashion as we await clarity.


Looking Ahead

Next week is an important news week as we get the Fed's favored gauge of inflation, the Core Personal Consumption Expenditure Index (PCE). This year-over-year reading is expected to rise to 2.8% from 2.7%, which is the wrong direction and still well above the Fed's target of 2.00%. There will be several auctions that could move the market. All of this news will happen in a holiday-shortened week as we celebrate Thanksgiving next Thursday.
 

Contact us anytime for more information. Our preferred lenders are knowledgeable and ready to help you!

 

Oct. 19, 2024

Torrance CA 3rd Qtr Real Estate Update

Torrance CA 3rd Qtr Real Estate Update

Torrance CA 3rd Qtr Real Estate Update

 

Here is the latest detailed real estate market report for Torrance - the largest South Bay LA market. Torrance CA market represents the South Bay perfectly. However, the real estate is local and prices are local. If you'd like a more precise analysis of your neighborhood, we'll be happy to provide it anytime with no obligation. 

In Torrance, single family home average sales price was $1,291,169 in the third quarter which was 9 percent higher than a year ago. The median price was $1,295,000 compared to $1,150,000 in the 3rd qtr 2023. The price per sq ft was $799 vs $746 a year ago. All data is for single family homes only and it is based on our local MLS (Multiple Listing Service).

You can 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  if you're thinking about selling your Torrance property. Call (310)918-5027 for your Free home evaluation. 

 

TORRANCE

Single Family Homes

Torrance 3rd Qtr 2024 3rd Qtr 2023 Difference
No. of Sales 164 193 -15%
Average Price $1,291,169 $1,188.052 +9%
Median Price $1,295,000 $1,150,000 +13%
Days on Market 18 17 +1 day

Currently the average listing price in Torrance is $1,208,522. Click below for details:

 

Torrance Market Report in Real Time

 

Torrance CA 3rd Qtr Real Estate Update

Posted in Market Updates
Sept. 18, 2024

Torrance CA Home Sales Report for Aug '24

Torrance CA Home Sales Report for Aug '24

Torrance CA real estate report

Torrance home sales have shown signs of slowing down. High interest rates, coming elections as well as the season (end of summer, families have mostly settled down before schools start).

Below is detailed data for Torrance real estate sales, median and average prices in August 2024 compared to August 2023.

Home sales went down drastically by 31 percent. Prices have continued to increase despite slower sales. Average single family home price went up by 7%, the median price went up by 6%. Average price per sq foot is up by 12%.

Every market is local. We invite you to look up your own report for any market, city, zip code, area, property type, save and receive email update - click below.

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 May 2024 May 2023 Difference
No. of Sales 60 56 +7%
Average Price $1,271,470 $1,013,489 +14%
Median Price $1,200,000 $1,105,000 +9%
Avg Days on Market 14 13 +2 days

 

Below is home sales and price trends for Los Angeles County:

Torrance CA Home Sales

 

Torrance CA real estate report 2024

 

Torrance 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

 

Torrance CA Home Sales Report for Aug '24

Aug. 5, 2024

South Bay 2nd QTR Report

torrance South Bay la real estate report

South Bay real estate picked up steam in 2nd quarter '24, with increased home sales and rising home prices. Here is the latest real estate market report for South Bay LA with the detailed analysis of two selected markets: Redondo Beach and Torrance. These two markets represent the South Bay very well. Keep in mind though, the real estate is local and prices are local. If you'd like a more precise analysis of your neighborhood, we'll be happy to provide it anytime with no obligation. 

In Torrance, single family home average sales price was $1,233,871 which was 8 percent higher than a year ago. The condo and townhouse average prices was $778,615 - 14 percent increase y-o-y.

Redondo Beach average single family home price was $2,094,206 - 13 percent increase y-o-y.  The sales volumes both in Torrance and Redondo Beach recorded a big increase - see below for details.

It's easy to 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 2nd Qtr 2024 2nd Qtr 2023 Difference
No. of Sales 175 134 -1%
Average Price $1,233,871 $1,137,995 +8%
Median Price $1,150,000 $1,148,000   -
Days on Market 17 18 - 1 day

 

Condos and Townhomes

Torrance 2nd Qtr 2024 2nd Qtr 2023 Difference
No. of Sales 87 470 +24%
Average Price $778,615 $682,989 +14%
Median Price $749,000 $662,500 +13%
Days on Market 10 21 +11 days

 

Torrance Market Report in Real Time

 

REDONDO BEACH

Single Family Homes

Redondo Beach  2nd Qtr 2024 2nd Qtr 2023 Difference 
No. of Sales 63 64   -
Average Price $2,094,206 $1,856,703  +13%
Median Price $1,750,000 $1,565,000 +12%
Days on Market 20 24 - 4 days 

 

Condos and Townhomes

Redondo Beach 2nd Qtr 2024 2nd Qtr 2023 Difference
No. of Sales 98 90 +9%
Average Price $1,485,053 $1,325,000 +6%
Median Price $1,400,000 $1,150,000 +20%
Days on Market 29 48 + 1 day

 

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