Ed MacLaughlin’s South Bay Market Insight June 2014 For more information or a free market evaluation of your property, call: Ed MacLaughlin (310) 567-2385 ed@edmachomes.com CA BRE Lic# 01340803
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RECENT LISTING SALES
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$2,900,000
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$1,317,000 2013 & 2014
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Ed MacLaughlin 310-567-2385 ed@edmachomes.com edmachomes.com BRE License # 01340803 ER_ad_may_2014_v3.indd 1
Ed MacLaughlin The
Power of Positive
REAL ESTATE™ 5/5/14 6:15 PM
Insight Guidance
Designed to give you a quick, complete overview of both current and past market conditions, this South Bay Market Insight report covers Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo, Torrance, Hawthorne, Gardena, Lawndale and Lomita. First, we examine Year Over Year statistics, compiled from carefully collected sales data. Percent changeâ&#x20AC;&#x201D;which was calculated by subtracting past value from current value, and dividing that product by past valueâ&#x20AC;&#x201D;gives you a quick snapshot of how each micro-market has improved or worsened over the past year for that particular metric. Next, the Yearly Median Price graph tracks the median price of properties for each month over the past year. The median price is not the same as average price; it is the price of the property that falls in the middle of the total number of properties for sale in that particular micro-market. Finally, the Key Stats section illustrates Median Sales Price, Average Sales Price of Closed Sales, Listings for Sale, Listings Under Contract, and Properties Sold. On the next page you will find an explanation of how each value was determined.
were added. This is calculated by dividing Not to be confused with Average Price, the total number of homes for sale in Median Price is the price of the property a particular month by the number of that falls in the middle of the total homes that sold in that month. Four to number of properties for sale in that five monthsâ&#x20AC;&#x2122; supply is average. A smaller particular micro-market. Extremely high number means there are more buyers and extremely low prices do not affect than sellers; a larger number means more the median the way they do the average. sellers than buyers. MEDIAN PRICE:
AVERAGE PRICE PER SQUARE FOOT:
Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties sold in the area that month. PROPERTIES SOLD:
The number of properties that closed escrow and changed ownership during the month. PROPERTIES UNDER CONTRACT:
The number of properties that are in escrow. PROPERTIES FOR SALE:
The number of properties that are for sale on the market.
ABSORPTION RATE (CLOSED SALES):
This is the rate at which properties sell. It is found by taking the number of properties sold and dividing it by the total number of properties for sale. This measures the inverse of Monthly Supply of Inventory and represents how much of the current active listings (as a percentage) are being absorbed (sold or pended) each month. The Absorption Rate is presented as a percentage (%) of the current inventory. PERCENT UNDER CONTRACT:
The ratio of properties for sale to properties pending sale. AVERAGE MEDIAN PRICE:
DAYS ON MARKET (CLOSED SALES):
The Average Median Price for the Last 12 Months is sales data from 12 months ending in the identified month
MONTHS SUPPLY OF INVENTORY:
LEGAL All reports are published July 2014, based on data available at the end of June 2014. All reports presented are based on data supplied by the CARETS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
The average number of days that properties were on the market, from date of initial listing to date they entered escrow. The number of months it would take for all the current homes for sale in that micro-market to sell if no new listings
Manhattan Beach Year Over Year Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 June 2014 % Change $1,610,000 $1,890,000 17% $688 $805 17% 41 43 5% 44 42 -5% 72 61 -15% 34 37 9% 1.8 1.4 -22% 56.9% 70.5% 24%
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $2,152
$1,987 $1,610 $1,540
$1,685 $1,705
$1,953 $1,717
$1,520
$1,850
$1,995
$1,890
$1,395
13-Jun 13-Jul 13-Aug 13-Sep 13-Oct 11/13 13-Dec 14-Jan 14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$1,916,580
Average Sales Price (Closed)*
$2,206,170 Listings for Sale
Active, 61
Sold, 43
61 Under Contract
Pending, 42
42 Sold
43 *12 month average
market insight
Hermosa Beach Year Over Year
June 2013 June 2014 % Change $1,250,000 $1,113,000 -11% $608 $705 16% 19 22 16% 31 22 -29%
Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale
37
37
--
Days on Market (Sold Homes)
94
39
Monthly Supply of Inventory
1.9
1.7
Absorption Rate (closed sales)
51.4%
59.5%
-59% -11% 16%
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $1,460
$1,250
$1,160
$1,345
$1,300
$1,208 $1,065
$1,230 $1,114
$1,101
$1,023
$1,113
$878
13-Jun
13-Jul 13-Aug 13-Sep 13-Oct
11/13 13-Dec 14-Jan 14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$1,270,580
Average Sales Price (Closed)*
$1,471,080 Listings for Sale
Sold, 22 Active, 37
37 Under Contract
Pending, 22
22 Sold
22 *12 month average
market insight
Redondo Beach Year Over Year
June 2013 June 2014 % Change $795,000 $818,000 3% $457 $466 2% 103 81 -21% 103 94 -9% 93 137 47% 37 52 41% 0.9 1.7 89% 110.8% 59.1% -47%
Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $818
$795
$795
$788
$780
$778
$770
$763
$756
$750
$730 $715
$719
13-Jun 13-Jul 13-Aug 13-Sep 13-Oct 11/13 13-Dec 14-Jan 14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$829,750
Average Sales Price (Closed)*
$888,580
Sold, 81
Listings for Sale
Active, 137
137
Under Contract
Pending, 94
94
Sold
81
*12 month average
market insight
El Segundo Year Over Year Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 June 2014 % Change $775,000 $694,000 -10% $395 $486 23% 17 12 -29% 12 9 -25% 16 22 38% 40 61 53% 0.9 1.8 100% 106.3% 54.5% -49%
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $775
13-Jun
$773
$719
$755
$803
13-Jul 13-Aug 13-Sep 13-Oct
$800 $719
$743
$854
$845
$723
$775 $694
11/13 13-Dec 14-Jan 14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$831,500
Average Sales Price (Closed)*
$845,920 Listings for Sale
Sold 12
Active 22
22 Under Contract
Pending 9
9 Sold
12 *12 month average
market insight
Torrance Year Over Year Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 June 2014 % Change $562,000 $574,000 2% $382 $406 6% 108 88 -19% 111 123 11% 145 227 57% 39 41 5% 1.3 2.6 100% 74.5% 38.8% -48%
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $608
$574 $562 $551
$555
$550 $539 $515
13-Jun
13-Jul
13-Aug 13-Sep 13-Oct
$550
$545
11/13
$530
$523 $512
13-Dec 14-Jan
14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$592,830
Average Sales Price (Closed)*
$619,330
Sold 88
Listings for Sale
227 Under Contract
Active 227 Pending 123
123 Sold
88 *12 month average
market insight
Hawthorne Year Over Year Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 June 2014 % Change $395,000 $465,000 18% $306 $361 18% 38 29 -24% 31 38 23% 28 66 136% 58 62 7% 0.7 2.3 229% 135.7% 43.9% -68%
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $459 $395
13-Jun
$372
$459
$445
$428
$399
$444
$473 $435
$465
$400
$349
13-Jul 13-Aug 13-Sep 13-Oct 11/13 13-Dec 14-Jan 14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$460,250
Average Sales Price (Closed)*
$478,420
Sold 29
Listings for Sale
Active 66
66 Under Contract
Pending 38
38 Sold
29 *12 month average
market insight
Lawndale Year Over Year Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 June 2014 % Change $402,000 $415,000 3% $278 $274 -1% 15 9 -40% 13 9 -31% 18 19 6% 41 65 59% 1.2 2.1 75% 83.3% 47.4% -43%
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $488 $435 $402 $365
$422 $388
$320
13-Jun
13-Jul 13-Aug 13-Sep 13-Oct
$350
$365
$395
$366
$415
$335
11/13 13-Dec 14-Jan 14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$420,500
Average Sales Price (Closed)*
$412,750
Sold 9
Listings for Sale
19
Active 19 Pending 9
Under Contract
9 Sold
9 *12 month average
market insight
Lomita Year Over Year Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 June 2014 % Change $423,000 $478,000 13% $309 $344 11% 10 14 40% 10 8 -20% 10 34 240% 40 73 83% 1 2.4 140% 100% 41.2% -59%
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $560
$440
$423
13-Jun
13-Jul
$517
$502
$479 $430
13-Aug 13-Sep 13-Oct
$430
11/13
$475 $400
13-Dec 14-Jan
$478
$447 $381
14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$496,830
Average Sales Price (Closed)*
$499,750
Sold 14
Listings for Sale
34
Pending 8
Under Contract
8 Sold
14 *12 month average
market insight
Active 34
Gardena Year Over Year
June 2013 June 2014 % Change $358,000 $375,000 5% $276 $263 -5% 39 28 -28% 34 41 21% 38 77 103% 49 45 -8% 1 2.8 180% 102.6% 36.4% -65%
Median Price Average Price Per Sq. Foot Properties Sold Properties Pending Sales Properties for Sale Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales)
June 2013 to June 2014 Yearly Median Price Tracking (in $,000) $405
$395 $382 $375
$371 $358
$354
$355
$360
$375
$365 $356
$340
13-Jun
13-Jul
13-Aug 13-Sep 13-Oct
11/13
13-Dec 14-Jan 14-Feb 14-Mar 14-Apr 14-May 14-Jun
Key June Stats
Median Sales Price*
$399,250
Average Sales Price (Closed)*
$393,330
Sold 28
Listings for Sale
77
Active 77 Pending 41
Under Contract
41 Sold
28 *12 month average
market insight
Any Questions? Ed MacLaughlin Shorewood Realtors (310) 567-2385 - Direct Ed@EdMacHomes.com www.EdMacHomes.com CAL BRE Lic.# 01340803
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