House the market? Scherb Homes Group November 2023 Report

Dear Friends and Family,

We hope this report finds you in good spirits. As we embrace the autumn season, we wanted to share a quick family update and insights into the current real estate market in the South Bay.

Family Update: After a delightful visit back east, creating cherished memories with family, we're now looking forward to Thanksgiving and the upcoming holiday season. Our daughter, Clover, is brimming with excitement as she crafts her ever-expanding Christmas list for Santa. These moments with loved ones are truly the heart of this special time of year.


Wishing you all a joy-filled Thanksgiving and festive holiday season!

South Bay Real Estate Market Overview: Here's a snapshot of the current real estate market in the South Bay:

  • Home Purchase Sentiment Index: 78.0%

  • Market Type: Slight Sellers Market

  • High-level Takeaways:

    1. Limited inventory continues to drive a robust market.

    2. Buyers and sellers are navigating cautiously amidst fluctuating interest rates.

    3. Cash transactions and first-time homebuyers are on the rise.

South Bay Cities Overview:

  1. Rolling Hills:

    • Cliff's Notes: Highest price per square foot in 2023, low inventory, and a sellers market. Nearly half of homes have seen a price reduction. One-year forecast predicts a 5% increase.

  2. Manhattan Beach:

    • Cliff's Notes: High price per square foot, increasing inventory, and a stable market with a 1.3% forecasted increase.

  3. Hermosa Beach:

    • Cliff's Notes: Lowest price per square foot for the year, rising inventory, and quick sales in 30 days or less. One-year forecast shows a moderate 1.3% increase.

  4. Palos Verdes Estates:

    • Cliff's Notes: Increasing inventory, rising price per square foot, and a balanced market. One-year forecast suggests a rise in median home prices.

  5. Rolling Hills Estates:

    • Cliff's Notes: Lowest median list price for the year, quick sales in less than 30 days, and a surprising 5% forecasted increase.

  6. Rancho Palos Verdes/Rolling Hills Estates:

    • Cliff's Notes: Doubling inventory, lower median list price, and a modest 2.6% forecasted increase.

  7. Hollywood Riviera:

    • Cliff's Notes: Highest price per square foot, low inventory, and a fairly stable market with a slight increase forecasted.

  8. Redondo Beach:

    • Cliff's Notes: Strong performance, highest price per square foot, and a modest 2.6% forecasted increase.

  9. Torrance:

    • Cliff's Notes: Hot market, highest inventory for the year, and a 2.6% forecasted increase.

  10. San Pedro:

    • Cliff's Notes: Slightly decreasing price per square foot, rising inventory, and a modest 2.4% forecasted increase.

If you're considering selling or buying in the coming months, reach out to us for a detailed home selling report or to explore current options coming to the market. Your dream home or the perfect buyer could be just around the corner!

Warm regards,

~Cliff and the Scherb Homes Group Family



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