South Bay Real Estate Report for August '23
By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
South Bay Real Estate Report for August '23South Bay real estate market is now a seller's market due to the very low inventory, stagnant home sales, high interest rates reducing the buyer pool. While the sales numbers are down, the prices are steady or a bit higher when compared to a year ago. See our July Report 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.Below are real estate market reports for selected major markets in South Bay CA and Beach Cities - Torrance and Redondo Beach. Below you'll find property selling data in August '23 vs. August '22, broken down by property type. Torrance home sales were down by 9 percent while the average sales price for single family homes was up b...
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