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.
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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:
