$10,000 Closing Credit*
$1,229,000
1,825 SqFt
4 Beds
•3 Full Baths, 1 Partial
Olice Heimann, Listing Office: Anastasi Properties, Inc.
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 October 2023
Since last year, South Bay Cities has remained a Seller's Market.
Key Takeaway
South Bay Cities is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Bay Cities, CA
How much do homes in South Bay Cities, CA cost?
Median Sold Price
$1,813,735
$987/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$137,074(+8.2%)
Key Takeaway
Homes in South Bay Cities have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in South Bay Cities was $1,813,735 in October 2024, up 8.2% from last year, and the median price per square foot was $987.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $730K | $722K | -1.1% |
| 2 Bedrooms | $1.1M | $1.2M | +8.5% |
| 3 Bedrooms | $1.5M | $1.6M | +6.7% |
| 4 Bedrooms | $2.0M | $2.0M | 0.0% |
| 5+ Bedrooms | $3.8M | $4.2M | +11.2% |
Summary: South Bay Cities housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 6.7%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
| South Bay Cities | $1.6M | $1.8M | +8.2% |
| Redondo Beach | $1.4M | $1.4M | +6.3% |
| Manhattan Beach | $2.8M | $2.9M | +6.3% |
| Hermosa Beach | $2.2M | $2.2M | +2.3% |
| Lawndale | $800K | $810K | +1.3% |
Housing Supply in South Bay Cities, CA
How many homes are available in South Bay Cities, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 430 | 415 | -3.5% |
Summary: The South Bay Cities real estate market had 415 homes for sale in October 2024, a 3.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 13 | +8.3% |
| 2 Bedrooms | 46 | 44 | -4.3% |
| 3 Bedrooms | 149 | 142 | -4.7% |
| 4 Bedrooms | 127 | 126 | -0.8% |
| 5+ Bedrooms | 96 | 90 | -6.3% |
Summary: The South Bay Cities housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 97 | 104 | +7.2% |
Asking Price vs. Sold Price
61 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Bay Cities, you may be able to get a good deal. 58.7% of homes here sold below asking price last month.
Summary: A total of 104 homes were sold or pending in South Bay Cities in October 2024, up by 7.2% month-over-month. Of the 104 sold homes, 59% were sold under asking, 13% were sold at asking, and 29% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 40 Days | +31.7% |
Summary: Homes in South Bay Cities had an average of 40 days on market in Oct 2024, up by 31.7% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Bay Cities are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 104 homes were sold in South Bay Cities; 58% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.