The real estate market tends to slow down over the holidays in the South Bay, and this year has been no different. Many properties have continued to linger on the market with Average Days on Market climbing to 117 days for Manhattan Beach, 88 days (Redondo Beach), and 102 days (Hermosa Beach). Below is a summary of each city’s average price per square foot, the median single family home price, and total inventory.
Avg. Price Per Square Foot
– Manhattan Beach $1,137
– Hermosa Beach $1,159
– Redondo Beach $667
Median Single Family Home Price
– Manhattan Beach $3.017 million
– Hermosa Beach $2.745 million
– Redondo Beach $1.382 million
– Manhattan Beach (72 active properties, 27 under contract/pending, 99 total)
– Hermosa Beach (42 active properties, 14 under contract/pending, 56 total)
– Redondo Beach (80 active properties, 57 under contract/pending, 137 total)
If you are looking to purchase a property and have found an active listing you’re interested in, now is a great time to put in an aggressive offer and test sellers’ interest, potentially obtaining the property below the listing price. On the flip side, if you are thinking about selling your home or investment property this Spring, now is a great time to schedule an appointment to put a marketing plan in action. Our team can help prepare your home to put it in its best light to generate the highest possible demand and to achieve the highest sales price. Call or email today to get started!