Big Ups and Big Downs in the South Bay Real Estate Market

What a crazy month July was in the South Bay.  The year over year % changes in median home prices were drastic in many cases with some cities seeing huge increases while others saw major drops.  Unfortunately real estate in El Segundo CA was on the losing end with median home prices being almost 20% lower than they had been in July of 2016.  One of the reasons was the rash of newer, and more expensive, construction a year ago somewhat artificially inflating prices.  El Segundo saw a high number of homes close escrow with 20 sold homes in July at a median home price of just under $1,055,000.  While that’s considerably lower than the previous July, that is still a very big number in El Segundo.  Click here to see the recent home sales in El Segundo and the South Bay.

City Homes Sold July 2017 Median July 2016 Median Year over Year % Change%
Carson 60 $480,000 $445,000 8%
El Segundo 20 $1,055,000 $1,310,000 -19.5%
Gardena 65 $549,000 $454,000 21%
Harbor City 15 $439,000 $550,000 -20.2%
Hawthorne 35 $730,000 $562,000 30%
Hermosa Beach 19 $2,025,000 $1,410,000 43.6%
Lawndale 15 $515,000 $430,000 19.8%
Lomita 21 $598,000 $585,000 2.1%
Long Beach 331 $520,000 $471,500 10.3%
Manhattan Beach 48 $2,449,000 $2,200,000 11.3%
Marina Del Rey 36 $921,000 $974,000 -5.4%
Palos Verdes Estates 28 $1558,000 $1,800,000 -13.4%
Playa Del Rey 20 $613,000 $629,000 -2.5%
Rancho Palos Verdes 63 $1,345,000 $1,160,000 15.9%
Redondo Beach 95 $975,000 $920,000 6%
San Pedro 63 $542,000 $542,000 0%
Torrance 113 $687,000 $617,000 11.4%
Westchester 33 $1,185,000 $1,116,000 6.2%