South Bay January 2024 Market Report
South Bay January 2023 real estate market profile has not changed when compared to last few months. It is a seller's market due to the very low inventory, low demand, lower property sales, high interest rates reducing the homebuyer pool. Home sales are down, the prices are steady or 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. Homeowners are hesitant to put their houses on the market and give up their low mortgage interest rates.
We prepared the real estate estate market updates for two selected major areas in South Bay CA and Beach Cities - Torrance and Redondo Beach real estate in order to better understand the local South Bay market. Below you'll find home sales data in January 2024 as it compares to the same period 12 months age, broken down by property type. Torrance single family home sales were down by 29 percent while the average sales price for single family homes was up by 7 percent. Redondo Beach home single family home sales were up by 33 percent y-o-y while the average sales price for single family homes was up by 11 percent. See below for all detailed data. Condo and townhome sales and prices both in Torrance and Redondo Beach picked up in January.
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. Call us at (310)918-5027 with any questions.
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TORRANCE
Single Family Homes
| Torrance | January 2024 | January 2023 | Difference |
| No. of Sales | 29 | 41 | -29% |
| Average Price | $1,166,820 | $1,093,441 | +7% |
| Median Price | $1,100,000 | $1,120,000 | -2% |
| Days on Market | 22 | 43 | -21 days |
Condos and Townhomes
| Torrance | January 2024 | January 2023 | Difference |
| No. of Sales | 15 | 9 | +67% |
| Average Price | $748,545 | $666,444 | +12% |
| Median Price | $748,889 | $659,000 | +14% |
| Days on Market | 32 | 31 | + 1 day |
Torrance Market Report in Real Time
REDONDO BEACH
Single Family Homes
| Redondo Beach | January 2024 | January 2023 | Difference |
| No. of Sales | 11 | 8 | +33% |
| Average Price | $1,745,091 | $1,765,679 | -1% |
| Median Price | $1,825,000 | $1,643,716 | +11% |
| Days on Market | 44 | 63 | -19 days |
Condos and Townhomes
| Redondo Beach | January 2024 | January 2023 | Difference |
| No. of Sales | 16 | 13 | +23% |
| Average Price | $1,419,744 | $1,318.462 | +8% |
| Median Price | $1,423,000 | $1,275,000 | +12% |
| Days on Market | 39 | 36 | +3 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:
South Bay January 2024 Market Report
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