South Bay Market Report for Sept '23
South Bay real estate market continues to be a seller's market due to the very low inventory, low demand, low home sales, high interest rates reducing the buyer pool. While the sales numbers are down, the prices are steady or a bit higher when compared to a year ago. See our August Report to compare numbers on the month to month basis. Higher interest rates have impacted buyers but the low inventory dampens their impact on home prices.
Below are real estate market updates for selected major areas in South Bay CA and Beach Cities - Torrance and Redondo Beach. Below you'll find home selling data in September 2023 vs. September 2022, broken down by property type. Torrance home sales were up by 5 percent while the average sales price for single family homes was up by 6 percent. Redondo Beach home sales were up by 5 percent y-o-y while the average sales price for single family homes was down by 20 percent. See below for all detailed data.
You may create your own market report for any market, city, zip code, area, property type, save and receive email update. It'll help you to be current with your area market conditions. These reports can be helpful if you're either a buyer or a seller in South Bay LA.
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TORRANCE
Single Family Homes
| Torrance | September 2023 | September 2022 | Difference |
| No. of Sales | 63 | 60 | +5% |
| Average Price | $1,183,036 | $1,121,287 | +14% |
| Median Price | $1,194,605 | $1,045,413 | +6% |
| Days on Market | 17 | 24 | -7 days |
Torrance Market Report in Real Time
REDONDO BEACH
Single Family Homes
| Redondo Beach | September 2023 | September 2022 | Difference |
| No. of Sales | 21 | 20 | +5% |
| Average Price | $1,552,219 | $1,557,500 | - |
| Median Price | $1,560,000 | $1,932,000 | -20% |
| Days on Market | 41 | 26 | +15 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:
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