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.

 

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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