South Bay real estate market is a seller's market due to the very low inventory, relatively low demand, stagnant property sales, high interest rates reducing the homebuyer pool. While the sales numbers are down, the prices are steady or a bit higher when compared to a year ago. See our previous monthly reports 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.
We prepared real estate market updates for selected major areas in South Bay CA and Beach Cities - Torrance and Redondo Beach in order to better understand the area market. Below you'll find property sales data in November 2023 as it compares to the same period in 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 7 percent. Redondo Beach home sales were down by 3 percent y-o-y while the average sales price for single family homes was up by 6 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 | November 2023 | November 2022 | Difference |
| No. of Sales | 44 | 42 | +5% |
| Average Price | $1,120,000 | $1,066,500 | +5% |
| Median Price | $1,122,057 | $1,108,987 | +7% |
| Days on Market | 28 | 25 | +3 days |
Condos and Townhomes
| Torrance | November 2023 | November 2022 | Difference |
| No. of Sales | 15 | 18 | +17% |
| Average Price | $707,261 | $666,489 | +6% |
| Median Price | $730,000 | $618,500 | +18% |
| Days on Market | 18 | 36 | -18 days |
Torrance Market Report in Real Time
REDONDO BEACH
Single Family Homes
| Redondo Beach | November 2023 | November 2022 | Difference |
| No. of Sales | 20 | 13 | +54% |
| Average Price | $1,908,250 | $1,889,231 | +1% |
| Median Price | $1,725,000 | $1,700,000 | +1% |
| Days on Market | 30 | 28 | +2 days |
Condos and Townhomes
| Redondo Beach | November 2023 | November 2022 | Difference |
| No. of Sales | 29 | 30 | -3% |
| Average Price | $1,211,209 | $1,350,433 | -10% |
| Median Price | $1,198,812 | $1,299,500 | -8% |
| Days on Market | 30 | 42 | -10 days |
Redondo Beach Market Report in Real Time
Every market is different, sometimes a couple of blocks make a difference in valuation. Contact us at (310)918-5027 for your Free home evaluation or click below to get an instant report:
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