Welcome to our South Bay communities and neighborhoods information page. Click on any link or picture below for general and real estate information in those areas. See the current homes for sale, home prices, recent sales, open houses, school information and more.
Charming streets, big ocean views, a quaint downtown shopping area, and proximity to the beach…..just a few of the many wonderful features of the area known as the Hollywood Riviera. Although technically part of Torrance, the Hollywood Riviera has a Redondo Beach zip code and “beach” certainly belongs in the name with fantastic ocean views and just a short distance to some pristine Southern California beaches. Some of what makes this area unique is that the city has tried to protect the ocean views by making it more difficult to build up or out, due to “hillside overlay” restrictions….the result is a neighborhood in which the homes actually fit on the lot (a rarity in the South Bay) with smaller, often one level, homes with large yards and the feeling of space. The area spreads from the bluff top, ocean front homes of Paseo De La Playa, fairly far inland so prices vary considerably. Smaller beach cottages further from the beach can be occasionally found in the high $600K range while the most recent oceanfront home is in escrow near $4.2M.
As a short sale listing expert, I’ve tracked the number of foreclosures, meaning both short sales and bank owned homes (REOs) in the South Bay for the past few years. It wasn’t long ago that each month there would be consistently over 100 short sale homes listed in Torrance alone. That certainly isn’t the case any longer. As of April 10th 2013 only 29 short sales were on the market in the cities of Lawndale, Gardena, Manhattan Beach, Redondo, Hermosa, Palos Verdes, El Segundo, San Pedro and Torrance combined.
The chart above shows the number of active short sale listings, pending escrows and sold homes for each month in the cities mentioned above. The light green bar shows the active listings, dark green shows sold homes with the red line showing the pending or “in escrow” homes.
If you’re like many South Bay home buyers, you’re probably experiencing the frustration that so many others are….there are no homes to buy. With this incredibly low inventory the few homes that do come on the market don’t last more than a few days and often sell for prices that would have been a major challenge just a few months ago. It might be temporary, but back are the days of multiple offers, conditions favorable to the sellers, offers over the list price and a number of cash buyers to compete with. Inventory just keeps going down with fewer and fewer available homes to by. If it’s hard to picture just what’s happening the chart below couldn’t be clearer. The light green bar shows the number of active homes for sale in the cities of El Segundo, Gardena, Harbor City, Hawthorne, Hermosa Beach, Lawndale, Lomita, Manhattan Beach, Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, San Pedro, Torrance. The teal columns show sold homes and the red bar shows the pending home sales.