Is South Bay Cities, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, South Bay Cities has remained a Seller's Market.
Key Takeaway
South Bay Cities is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Bay Cities, CA
How much do homes in South Bay Cities, CA cost?
Median Sold Price
$1,747,857
$963/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in South Bay Cities have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in South Bay Cities was $1,747,857 in June 2024, up 2.6% from last year, and the median price per square foot was $963.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $700K | $750K | +7.1% |
| 2 Bedrooms | $1.1M | $1.1M | 0.4% |
| 3 Bedrooms | $1.5M | $1.6M | +4.0% |
| 4 Bedrooms | $2.0M | $1.9M | -2.9% |
| 5+ Bedrooms | $3.8M | $4.1M | +9.8% |
Summary: South Bay Cities housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 9.8%.
Median Sold Price Compared To Nearby Cities
| Redondo Beach | $1.4M | $1.4M | +4.3% |
| South Bay Cities | $1.7M | $1.7M | +2.6% |
| Hermosa Beach | $2.1M | $2.2M | +2.0% |
| Lawndale | $796K | $808.6K | +1.6% |
| Manhattan Beach | $3.0M | $2.8M | -6.1% |
Housing Supply in South Bay Cities, CA
How many homes are available in South Bay Cities, CA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 383 | 378 | -1.3% |
Summary: The South Bay Cities real estate market had 378 homes for sale in June 2024, a 1.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 11 | 0.0% |
| 2 Bedrooms | 54 | 46 | -14.8% |
| 3 Bedrooms | 103 | 104 | +1.0% |
| 4 Bedrooms | 112 | 120 | +7.1% |
| 5+ Bedrooms | 103 | 97 | -5.8% |
Summary: The South Bay Cities housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.8%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 5.8%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 105 | 64 | -39.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Bay Cities, you could pay more than the asking price. 46.9% of homes here sold above asking price last month.
Summary: A total of 64 homes were sold or pending in South Bay Cities in June 2024, down by 39.0% month-over-month. Of the 64 sold homes, 41% were sold under asking, 13% were sold at asking, and 47% were sold over asking.
Days on Market for South Bay Cities, CA
How long does it take to sell a home in South Bay Cities, CA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 28 Days | 29 Days | +3.5% |
Summary: Homes in South Bay Cities had an average of 29 days on market in Jun 2024, up by 3.5% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Bay Cities are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 64 homes were sold in South Bay Cities; 72% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.