Is South Bay Cities, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Bay Cities is a neutral's market

Buyer's
Market

Difference Since January 2023

Since last year, South Bay Cities has remained a Neutral Market.

Key Takeaway

South Bay Cities is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in South Bay Cities, CA

How much do homes in South Bay Cities, CA cost?

Median Sold Price

$1,675,666

$949/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$74,983(-4.3%)

Key Takeaway

Homes in South Bay Cities have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in South Bay Cities was $1,675,666 in January 2024, down 4.3% from last year, and the median price per square foot was $949.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $700K$783.5K
+11.9%
2 $1.1M$1.1M
-3.4%
3 $1.6M$1.5M
-6.2%
4 $2.0M$2.0M
-0.4%
5+ $3.8M$3.9M
+3.0%

Summary: South Bay Cities housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.9%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 3%.

Median Sold Price Compared To Nearby Cities

Hermosa Beach
+7.4%
Lawndale
+5.6%
Redondo Beach
-1.8%
South Bay Cities
-4.3%
Manhattan Beach
-9.1%

Housing Supply in South Bay Cities, CA

How many homes are available in South Bay Cities, CA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
260265+1.9%

Summary: The South Bay Cities real estate market had 265 homes for sale in January 2024, a 1.9% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 612
+100.0%
2 3833
-13.2%
3 8184
+3.7%
4 7979
0.0%
5+ 5657
+1.8%

Summary: The South Bay Cities housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 13.2%, 3 bedroom homes increased by 3.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 1.8%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
7640-47.4%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Bay Cities, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in South Bay Cities in January 2024, down by 47.4% month-over-month. Of the 40 sold homes, 60% were sold under asking, 13% were sold at asking, and 28% 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

Jan 2023Jan 2024CHANGE
46 Days48 Days+4.1%

Summary: Homes in South Bay Cities had an average of 48 days on market in Jan 2024, up by 4.1% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Bay Cities are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 40 homes were sold in South Bay Cities; 48% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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