October Real Estate Market Update for South Bay, Los Angeles, CA
As the fall season begins, the Southern California real estate market typically sees a slowdown in activity, but this year, with the upcoming election, there has been a slight uptick in activity across the South Bay and Long Beach areas. Homes are moving into escrow following a quieter summer compared to the last three years.
This is a paid partnership with Keller Williams Pacific Estates, but our enthusiasm is 100% genuine. We’re excited to share this with our community!
Market Trends: Torrance & Manhattan Beach
In Torrance, there is currently a low inventory situation, with only 1.53 months of supply available. This limited inventory means there are fewer homes on the market relative to buyer demand, creating a competitive environment for sellers. The list-to-sold price ratio is 101.5%, showing that homes are selling for slightly above the asking price on average—an indication of multiple offers and bidding wars. For those considering selling, this could be a prime time to take advantage of high buyer interest.
However, there are signs of a market shift. Over the past year, the inventory in Torrance has increased by 31.9%, indicating more homes are coming on the market and giving buyers more options.
In Manhattan Beach, the list-to-sold percentage is holding at 97%, suggesting that buyers are offering close to the asking price. The Months Supply of Inventory is 3.07, which is slightly higher than Torrance, but still low in comparison to demand. The 12-month change in inventory shows a 5.5% increase, hinting at a market that may soon provide more opportunities for buyers.
Overall, the real estate market in the South Bay remains competitive for both buyers and sellers, with low inventory, quick sales, and strong pricing trends. Buyers should be ready to act fast and potentially offer above the asking price, while sellers can take advantage of high demand and favorable conditions.
Expert Real Estate Advice: Open Houses
Open Houses have changed, and here’s what potential buyers need to know:
- Sign-In Requirement: Attendees will be asked to sign an Open House form before receiving property information. This is now standard practice in the real estate industry.
- Agent Availability: While the agent at the Open House represents the seller, they can also assist buyers interested in making an offer. Buyers are encouraged to ask how the agent can help!
- Exploring Additional Homes: Buyers can view other properties with the same agent after signing a required agreement, allowing them to tour more homes.
- Simplifying the Process: Keller Williams Pacific Estates agents are dedicated to making the home-buying process as easy as possible. They take the time to understand each client’s unique lifestyle and need to find the perfect home.
Community Events This Fall
Keller Williams Pacific Estates is committed to community involvement and is hosting several fall events:
- American Red Cross Blood Drive – October 22nd
- Shred Day & Canned Food Drive – Can’t make it to Shred Day? No problem! Arrange a porch pick-up by October 25th to donate food items.
Hot Listings on the Market
Listings graciously provided in collaboration with local REALTORS here to serve you!
2344 W. 230th St, Torrance, CA 90504
$995,000
2 Beds| Bonus Room | 1 Bath | 1,018 sq ft.
Estimated Payment: $6,952/mo
Estimation provided by Keller Williams Realty Inc.
1712 Stanford Avenue, Redondo Beach, CA 90278
$1,599,000
4 Beds | 3 Baths | 1,889 sq ft
Estimated payment: $8,124/mo
Estimation provided by Keller Williams Realty Inc.
5509 W 149th Place Unit #6, Hawthorne, CA 90250
$1,179,999
3 Beds | 3 Baths | 1,790 sq ft
Estimated payment: $6,397/mo
Estimation provided by Keller Williams Realty Inc.
Contact: To connect with our gracious featured listing agents, or discuss your Real Estate needs, TEXT “LOCAL ANCHOR” to 310-427-5911
