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 April 2023
Since last year, South Bay Cities has remained a Seller's Market.
Housing Prices in South Bay Cities, CA
How much do homes in South Bay Cities, CA cost?
Median Sold Price
$1,709,714
$964/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Bay Cities was $1,709,714 in April 2024, down 2.1% from last year, and the median price per square foot was $964.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $709.5K | $759K | +7.0% |
2 Bedrooms | $1.1M | $1.1M | -2.3% |
3 Bedrooms | $1.6M | $1.6M | -1.2% |
4 Bedrooms | $2.0M | $2.0M | -0.3% |
5+ Bedrooms | $3.7M | $4.1M | +8.9% |
Summary: South Bay Cities housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Cities
Hermosa Beach | $2.1M | $2.2M | +7.0% |
Lawndale | $767.5K | $815K | +6.2% |
Redondo Beach | $1.4M | $1.4M | +2.8% |
South Bay Cities | $1.7M | $1.7M | -2.1% |
Manhattan Beach | $3.1M | $2.7M | -11.6% |
Housing Supply in South Bay Cities, CA
How many homes are available in South Bay Cities, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
358 | 371 | +3.6% |
Summary: The South Bay Cities real estate market had 371 homes for sale in April 2024, a 3.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 16 | +14.3% |
2 Bedrooms | 55 | 55 | 0.0% |
3 Bedrooms | 106 | 107 | +0.9% |
4 Bedrooms | 103 | 105 | +1.9% |
5+ Bedrooms | 80 | 88 | +10.0% |
Summary: The South Bay Cities 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 remained the same, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 103 | +51.5% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Summary: A total of 103 homes were sold or pending in South Bay Cities in April 2024, up by 51.5% month-over-month. Of the 103 sold homes, 43% were sold under asking, 16% were sold at asking, and 42% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
41 Days | 28 Days | -30.7% |
Summary: Homes in South Bay Cities had an average of 28 days on market in Apr 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During April 2024, 103 homes were sold in South Bay Cities; 71% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.