Is South Bay, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South Bay has remained a Seller's Market.
Housing Prices in South Bay, CA
How much do homes in South Bay, CA cost?
Median Sold Price
$1,250,714
$750/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Bay was $1,250,714 in April 2024, up 4.1% from last year, and the median price per square foot was $750.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $530K | $547.5K | +3.3% |
2 Bedrooms | $776.6K | $793.7K | +2.2% |
3 Bedrooms | $1.1M | $1.1M | +2.4% |
4 Bedrooms | $1.6M | $1.7M | +1.1% |
5+ Bedrooms | $2.7M | $2.7M | +1.3% |
Summary: South Bay housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 1.3%.
Median Sold Price Compared To Nearby Neighborhoods
S. Redondo Beach W. of Pacific Coast Highway | $1.2M | $1.5M | +19.5% |
S. Redondo Beach S. of Torrance Blvd. | $1.2M | $1.3M | +12.4% |
South Bay | $1.2M | $1.2M | +4.1% |
West Torrance | $1.3M | $1.3M | 0.0% |
S. Redondo Beach N. of Torrance Blvd. | $1.6M | $1.4M | -8.1% |
Housing Supply in South Bay, CA
How many homes are available in South Bay, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,267 | 1,342 | +5.9% |
Summary: The South Bay real estate market had 1,342 homes for sale in April 2024, a 5.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 49 | 56 | +14.3% |
2 Bedrooms | 223 | 220 | -1.3% |
3 Bedrooms | 457 | 471 | +3.1% |
4 Bedrooms | 325 | 349 | +7.4% |
5+ Bedrooms | 213 | 246 | +15.5% |
Summary: The South Bay housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 15.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
316 | 357 | +13.0% |
Asking Price vs. Sold Price
132 Homes Were Sold
Under Asking
53 Homes Were Sold
At Asking
172 Homes Were Sold
Over Asking
Summary: A total of 357 homes were sold or pending in South Bay in April 2024, up by 13.0% month-over-month. Of the 357 sold homes, 37% were sold under asking, 15% were sold at asking, and 48% were sold over asking.
Days on Market for South Bay, CA
How long does it take to sell a home in South Bay, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
34 Days | 27 Days | -21.2% |
Summary: Homes in South Bay had an average of 27 days on market in Apr 2024, down by 21.2% compared to last year.
Breakdown of Home Sale Times
265 Homes Were Sold
Under 30 Days
65 Homes Were Sold
In 30 - 90 Days
27 Homes Were Sold
Over 90 Days
Summary: During April 2024, 357 homes were sold in South Bay; 74% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.