Want to Know Why You Can’t Find a South Bay Home?
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.