South Bay Housing Market Update March 2025
Thinking about buying or selling a home in the South Bay? Here’s a look at what’s happening in the market as of March 2025, based on the latest data.
Market Overview
South Bay Cities remain a seller’s market, which means demand is outpacing supply. Homes are selling faster, and prices are continuing to rise.
Median sold price: $1,869,000
Price per square foot: $1,002
That’s a 9.1% increase year-over-year from March 2024
Homes are spending an average of 32 days on market, down from 44 days a year ago (a 26% decrease)
Median Sold Price by City (March 2025 vs. March 2024)
| City | Mar 2024 | Mar 2025 | Change YoY |
|---|---|---|---|
| Manhattan Beach | $2.7M | $3.2M | +18.6% |
| South Bay Cities | $1.7M | $1.8M | +9.1% |
| Hermosa Beach | $2.2M | $2.3M | +8.5% |
| Redondo Beach | $1.4M | $1.5M | +5.0% |
| Lawndale | $825K | $800K | –3.0% |
Median Sold Price by Bedroom Count (March 2025 vs. March 2024)
| Beds | Mar 2024 | Mar 2025 | Change YoY |
|---|---|---|---|
| 1 Bedroom | $771.5K | $720K | –6.7% |
| 2 Bedrooms | $1.1M | $1.2M | +4.7% |
| 3 Bedrooms | $1.6M | $1.6M | +2.2% |
| 4 Bedrooms | $2.0M | $2.2M | +10.2% |
| 5+ Bedrooms | $4.1M | $4.2M | +1.5% |
Inventory and Sales Activity (March 2025)
393 homes were for sale in March 2025 — a slight 0.3% decrease from February
98 homes sold, up 11.4% month-over-month
Inventory increased for 2- and 3-bedroom homes but decreased for 1- and 4-bedroom properties
Sold Price vs. Asking Price (March 2025)
Out of the 98 homes sold:
34 sold over asking
22 sold at asking
42 sold under asking
43% of homes sold below asking, showing there’s still negotiation room in many deals.
How Fast Are Homes Selling? (March 2025)
73% sold in under 30 days
13% sold in 30–90 days
13% sold in over 90 days
Homes sold faster this year with an average time on market of 32 days, down from 44 days last year.
The South Bay housing market continues to favor sellers with strong year-over-year price gains, quick sales, and active buyer interest—especially in cities like Manhattan Beach, Hermosa Beach, and Redondo Beach. If you’re thinking about making a move, I’d be happy to walk you through what’s happening in your specific neighborhood.
Contact me HERE or give me a call at (424)212-3859.
Best regards,
Lindsay Woolf | CA DRE #02236711
DOMO Real Estate | CA DRE #01290500
Disclaimer: The information in this blog post is for general informational purposes only and does not constitute legal advice. Real estate transactions can be complex and subject to local regulations.
