House the market? Scherb Homes Group - March 2025
Hi Scherb Homes Family,
Hope you’re enjoying a beautiful start to spring. Our family has been soaking it up—Clover and I had an amazing overnight camping trip at the Santa Barbara Zoo with our Adventure Guides group. It was magical to fall asleep near the giraffes and have a behind-the-scenes look at the zoo. We’ve also had some great dinners with friends and fun family time with Clover’s grandparents. Baseball season is underway—Clover’s on the Angels this year and loving it. Life is full and good.
Now, let’s get into what’s happening in the market. Below is your March market report—friendly and real, like chatting with a neighbor over coffee. We’re seeing shifts that both buyers and sellers should be paying attention to. As always, the cities covered are listed in descending order by median price: Rolling Hills, Manhattan Beach, Hermosa Beach, Palos Verdes Estates, Rolling Hills Estates, Rancho Palos Verdes, Hollywood Riviera, Redondo Beach, and Torrance (with a bonus look at San Pedro).
March 2025 Key Market Takeaways
• Inventory is rising across the South Bay, giving buyers more options—but the best homes still move quickly.
• Interest rates remain steady around 6.5%, and affordability is still a challenge for many buyers.
• Sellers with homes in great condition and in desirable locations are still in a strong position, but pricing strategy is more important than ever.
South Bay Market Overview
Median Sold Price: $1,867,666
Average Cost Increase (Past 12 Months): $165,212
Annual % Change in Sale Price: +9.7%
Number of Homes for Sale (vs. Last Month): +13.8%
Homes Sold (vs. Last Month): -6.1%
Months of Inventory: 3.1
Homes Sold Under Asking: 47%
At Asking: 14%
Over Asking: 39%
Average Days on Market This Year: 51
Sold in Under 30 Days: 58%
Sold in 30–90 Days: 22%
Sold After 90 Days: 20%
Interest Rate (30-yr Fixed): 6.54%
10-Year Treasury: 4.25%
Spread Between Rate and Treasury (Historical Average: 1.7%): 2.29%
Rolling Hills
Median Price Per Sq Ft: 1,145
Number of Homes: 14
Median List Price: $4,397,000
Average Days on Market: 70
Homes with Price Reductions: 43%
1-Year Market Forecast: +0.9%
Cliff’s Notes: Sellers are losing a bit of their edge. There’s opportunity here for buyers as homes linger longer on the market. Prices are expected to inch up slightly over the next year.
Manhattan Beach
Median Price Per Sq Ft: 1,719
Number of Homes: 71
Median List Price: $5,750,000
Average Days on Market: 32
Homes with Price Reductions: 11%
1-Year Market Forecast: +0.6%
Cliff’s Notes: A hot market due to Westside migration post-Palisades fires. Sellers hold the power, and price reductions are rare. Buyers must act fast and come prepared.
Hermosa Beach
Median Price Per Sq Ft: 1,630
Number of Homes: 34
Median List Price: $3,492,000
Average Days on Market: 41
Homes with Price Reductions: 27%
1-Year Market Forecast: +0.6%
Cliff’s Notes: Not as intense as Manhattan, but still moving well. Some room to negotiate on homes that have been sitting. Sellers still have an advantage, but buyers should stay sharp.
Palos Verdes Estates
Median Price Per Sq Ft: 1,175
Number of Homes: 46
Median List Price: $4,575,700
Median Days on Market: 49
Homes with Price Reductions: 30%
1-Year Market Forecast: +1.0%
Cliff’s Notes: We’re close to all-time highs, but the market is more balanced than it’s been. Sellers should prepare for longer days on market. Buyers, be ready to jump when the right one appears.
Rolling Hills Estates
Median Price Per Sq Ft: 841
Number of Homes: 23
Median List Price: $1,750,000
Average Days on Market: 32
Homes with Price Reductions: 33%
1-Year Market Forecast: -0.2%
Cliff’s Notes: Inventory is the highest we’ve seen in nearly two years. A potential window of opportunity for buyers. Sellers need to price correctly to compete.
Rancho Palos Verdes
Median Price Per Sq Ft: 810
Number of Homes: 122
Median List Price: $2,100,000
Average Days on Market: 39
Homes with Price Reductions: 37%
1-Year Market Forecast: -0.2%
Cliff’s Notes: Inventory is up and nearly 40% of homes have seen reductions. Buyers have leverage. Sellers—presentation and pricing are key in this market.
Hollywood Riviera
Median Price Per Sq Ft: 981
Number of Homes: 15
Median List Price: $1,999,999
Median Days on Market: 49
Homes with Price Reductions: 25%
1-Year Market Forecast: +3.1%
Cliff’s Notes: Low inventory and high demand keep this area competitive. Expect continued appreciation, especially for well-located homes.
Redondo Beach
Median Price Per Sq Ft: 853
Number of Homes: 102
Median List Price: $1,599,500
Average Days on Market: 29
Homes with Price Reductions: 25%
1-Year Market Forecast: +2.6%
Cliff’s Notes: Solid balance here. Homes are moving quickly, especially under $2M. Buyers should be decisive. Sellers can expect strong interest if their home is well-priced and prepped.
Torrance
Median Price Per Sq Ft: 680
Number of Homes: 113
Median List Price: $1,120,000
Average Days on Market: 25
Homes with Price Reductions: 28%
1-Year Market Forecast: +4.8%
Cliff’s Notes: Fast-moving and highly desirable due to schools and relative affordability. Expect continued growth this year. Great for both buyers and investors.
San Pedro
Median Price Per Sq Ft: 609
Number of Homes: 85
Median List Price: $938,800
Median Days on Market: 33
Homes with Price Reductions: 38%
1-Year Market Forecast: +0.7%
Cliff’s Notes: San Pedro just hit a record on price per square foot. Despite that, many homes are still adjusting price. Great entry point market. Balanced and promising.
A Final Word from Cliff
Whether you’re thinking about buying or selling, staying informed is the best first step. Inventory is rising, but the best homes are still going quickly. If you’re selling in the next few months, I’d be happy to put together a detailed home value report and share a strategy tailored to you. And for buyers—let me know what you’re looking for, and I’ll get you early access to homes before they hit the market.
Always happy to chat and help however I can.
Warmly,
Cliff Scherb
Scherb Homes Group
Top Producer | Vista Sotheby’s International Realty
South Bay Local – Trusted Advocate – Family-Focused
Let’s connect for a personal plan or a quick update on what’s coming soon.
