THE SOUTH BAY MARKET RIGHT NOW
What the data from the last 90 days is actually telling us — and what you should do with it.
We pulled closed sales across every South Bay market from Hermosa to San Pedro, and the picture is more nuanced than the headlines suggest. Here's what we're seeing.
The markets still moving on sellers' terms: Manhattan Beach SFR closed at a median of $3.8M with a median of just 8 days on market — and 31 homes sold above list price versus 27 with reductions. Hermosa Beach SFR sat at a median of $2.36M with an 11-day median DOM. North Redondo SFR was nearly even — 19 price increases against 18 reductions — which tells you that correctly priced homes are still finding buyers fast. Gardena SFR logged 32 price increases against only 15 reductions, the most seller-favorable ratio in the dataset. Torrance SFR: 80 price increases vs. 64 reductions on 168 sales — the highest volume market in the South Bay, and still leaning seller.
The markets where buyers have the upper hand: San Pedro condos saw 37 price reductions against just 5 price increases — the most lopsided ratio in any category we tracked. Rancho Palos Verdes condos: 16 reductions, 4 increases. North Redondo condos: 31 reductions, 13 increases. South Redondo condos: 16 reductions, 7 increases. The pattern is consistent — attached product in the mid-tier and outer markets is where sellers are losing pricing leverage.
Sellers Advice
The data is clear that the market is hyper-local right now — not just by city, but by property type. A well-priced Hermosa SFR or Manhattan Beach home is still moving in under two weeks. But if you're selling a condo in San Pedro, Rancho Palos Verdes, or North Redondo, you are competing against a market that has already repriced. Overpricing even slightly means sitting, and days on market kills deals. Get the right number from the start — if you want to know what that number is for your home, we'll tell you straight.
Buyers Advice
The condo and townhome segments in South Redondo, RPV, and San Pedro are offering real negotiating room right now — something that's been largely absent from this market for years. On the SFR side, anything priced correctly in the coastal cities is still seeing competition. If you've been waiting for leverage, attached product in the mid-tier markets is where you'll find it today. The buyers who move now get the selection and the room to negotiate. The buyers who wait may find both gone.
