Market Intelligence Report Palos Verdes & Beach Cities April 2019

Page 1

South Bay Market Intelligence Report Vol. 5 | April 2019 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors El Segundo

Rancho Palos Verdes

Hawthorne

Redondo Beach

Hermosa Beach

Rolling Hills

Lomita

Rolling Hills Estates

Manhattan Beach

San Pedro

Palos Verdes Estates

Torrance

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Market Intelligence Glossary Median Price:

Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.

MonthS SuPPlY oF inventorY:

This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.

average Price Per Square Foot:

Found by taking the price of each property and dividing that by its ProPertieS Pending Sale: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.

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 the number of properties sold divided by the total number of properties for sale.

ProPertieS under contract:

The number of properties with an accepted offer however they have not closed.

ProPertieS Sold: The number of properties that SOLD and transfered ownership.

daYS on Market (cloSed SaleS):

rePort noteS:

Reports published in Apr. 2019 are based on data available at the end of Mar. 2019. All reports presented are based on data supplied by the CRMLS or TheMLS and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed.

The average number of days that properties were on ACTIVE on the market.

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SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Hawthorne..............................................................5 Hermosa Beach......................................................6 Lomita.....................................................................7 Manhattan Beach...................................................8 Palos Verdes Estates..............................................9 Rancho Palos Verdes............................................10 Redondo Beach....................................................11 Rolling Hills...........................................................12 Rolling Hills Estates..............................................13 San Pedro.............................................................14 Torrance................................................................15

63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

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El Segundo MARCH STATS Key Facts:

$1,320,000

Median Sold Price

$1,357,000

Average Sold Price

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$1,214

$1,320

9%

Average Price Per Sq. Foot

$710

$662

-7%

Properties for Sale

12

28

133%

Properties Pending Sales

11

17

55%

Properties Sold

14

15

7%

Days on Market (Sold Homes)

34

38

12%

Monthly Supply of Inventory

0.9

1.9

111%

53.6

-54%

Absorption Rate (closed sales) 116.7

28

Listings for Sale

AVERAgE & MEDIAN PRICE $1,800

17

Listings Pending

$3,500 $1,600 $1,357

$1,400 $3,000 $1,200

15

Listings Sold

$1,320

$2,593

$2,500 $1,000 $2,000 $800 $1,655 $600 $1,500

38

Days On Market

$400

$1,000 $200 $$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

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Hawthorne MARCH STATS Key Facts:

$687,000

Median Sold Price

$713,000

Average Sold Price

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$623

$687

10%

Average Price Per Sq. Foot

$427

$471

10%

Properties for Sale

29

67

131%

Properties Pending Sales

38

34

-11%

Properties Sold

34

31

-9%

Days on Market (Sold Homes)

19

30

58%

Monthly Supply of Inventory

0.9

2.2

144%

46.3

-60%

Absorption Rate (closed sales) 117.2

67

Listings for Sale

AVERAgE & MEDIAN PRICE $800

34

Listings Pending

$3,500

$713 $687

$700

$3,000 $600 $2,593

31

$2,500 $500

Listings Sold $2,000

$400

$1,655

$300

$1,500

30

Days On Market

$200

$1,000 $100

$500

$-

$Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

Median

Average

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Hermosa Beach MARCH STATS Key Facts:

$1,613,000 Median Sold Price

$1,671,000

Average Sold Price

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$1,728

$1,613

-7%

Average Price Per Sq. Foot

$829

$877

6%

Properties for Sale

51

49

-4%

Properties Pending Sales

16

21

31%

Properties Sold

18

18

0%

Days on Market (Sold Homes) 43

63

47%

2.8

2.7

-4%

Absorption Rate (closed sales) 35.3

36.7

4%

Monthly Supply of Inventory

49

Listings for Sale

AVERAgE & MEDIAN PRICE $3,500

21

Listings Pending

$3,500

$3,000

$3,000

$2,500

$2,593

18

$2,500

Listings Sold

$1,671

$2,000

$1,613

$2,000

$1,500

$1,655

$1,500

63

$1,000

Days On Market

$1,000

$500

$500

$-

$-

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

Median

Average

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36 YEARS IN THE SOUTH BAY

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Daniel@LiveInLA.net

“Call us today, it’s your move!”


Lomita MARCH STATS Key Facts:

$655,000 Median Sold Price

$656,000

Average Sold Price

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$585

$655

12%

Average Price Per Sq. Foot

$411

$438

7%

Properties for Sale

11

23

109%

Properties Pending Sales

16

15

-6%

Properties Sold

15

12

-20%

Days on Market (Sold Homes) 30

20

-33%

0.7

1.9

171%

52.2

-62%

Monthly Supply of Inventory

Absorption Rate (closed sales) 136.4

23

Listings for Sale

15

Listings Pending

AVERAgE & MEDIAN PRICE $3,500 $800 $656

$700

$655

$3,000

$600

12

$2,593

$2,500 $500

Listings Sold

$2,000 $400 $1,655 $300

$1,500

20

Days On Market

$200

$1,000 $100

$500

$-

$-

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

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Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

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Daniel@LiveInLA.net

“Call us today, it’s your move!”


Manhattan Beach MARCH STATS Key Facts:

$2,195,000

Median Sold Price

$2,612,000

Average Sold Price

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$2,250

$2,195

-2%

Average Price Per Sq. Foot

$1,069

$1,127

5%

Properties for Sale

80

113

41%

Properties Pending Sales

45

50

11%

Properties Sold

38

39

3%

Days on Market (Sold Homes)

41

46

12%

Monthly Supply of Inventory

2.1

2.9

38%

47.5

34.5

-27%

Absorption Rate (closed sales)

113

Listings for Sale $4,000

50

Listings Pending

AVERAgE & MEDIAN PRICE

$3,500 $3,500 $3,000 $3,000

$2,612

$2,500

39

Listings Sold

$2,593 $2,195

$2,500 $2,000 $2,000 $1,500

$1,655

$1,500 $1,000

46

Days On Market

$500 $1,000 $$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

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Daniel@LiveInLA.net

“Call us today, it’s your move!”


Palos Verdes Estates MARCH STATS Key Facts:

MAR. 2018

MAR. 2019

% Change

$1,984

$2,100

6%

$731

$726

-1%

Properties for Sale

51

69

35%

Properties Pending Sales

13

19

46%

Properties Sold

22

15

-32%

Days on Market (Sold Homes)

67

60

-10%

Monthly Supply of Inventory

2.3

4.6

100%

Absorption Rate (closed sales)

43.1

21.7

-50%

Median Price (in $,000)

$2,100,000

Median Sold Price

$1,978,000

Average Sold Price

69

Average Price Per Sq. Foot

Listings for Sale $8,000

AVERAgE & MEDIAN PRICE

$7,000

19

Listings Pending

$3,500 $6,000 $3,000 $5,000

15

Listings Sold

$2,593

$2,500 $4,000 $2,000 $3,000

$1,655 $1,978 $2,100

$1,500 $2,000

60

Days On Market

$1,000 $1,000 $$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


Rancho Palos Verdes MARCH STATS Key Facts:

$1,304,000 Median Sold Price

$1,348,000

Average Sold Price

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$1,250

$1,304

4%

Average Price Per Sq. Foot

$536

$571

7%

Properties for Sale

80

95

19%

Properties Pending Sales

52

46

-12%

Properties Sold

39

40

3%

Days on Market (Sold Homes)

37

69

86%

Monthly Supply of Inventory

2.1

2.4

14%

42.1

-14%

Absorption Rate (closed sales) 48.8

95

Listings for Sale

AVERAgE & MEDIAN PRICE $1,600

46

$1,348

Listings Pending

$3,500 $1,400

$1,304

$1,200 $3,000

$2,593

$1,000

40

$2,500

Listings Sold

$800

$2,000 $600

$1,655

$1,500

69

$400

Days On Market

$1,000 $200 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

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Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

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Daniel@LiveInLA.net

“Call us today, it’s your move!”


Redondo Beach MARCH STATS Key Facts:

MAR. 2018

MAR. 2019

% Change

$1,050

$973

-7%

$587

$596

2%

Properties for Sale

85

106

25%

Properties Pending Sales

85

92

8%

Properties Sold

65

78

20%

Days on Market (Sold Homes) 34

44

29%

1.3

1.4

8%

73.6

-4%

Median Price (in $,000)

$973,000

Average Price Per Sq. Foot

Median Sold Price

$1,003,000

Average Sold Price

Monthly Supply of Inventory

Absorption Rate (closed sales) 76.5

106

Listings for Sale

AVERAgE & MEDIAN PRICE $1,400

92

Listings Pending

$3,500 $1,200 $1,003 $973

$3,000 $1,000

$2,593

78

$2,500 $800

Listings Sold $2,000 $600 $1,655 $400 $1,500

44

Days On Market

$200 $1,000

$500$-

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

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Daniel@LiveInLA.net

“Call us today, it’s your move!”


Rolling Hills MARCH STATS Key Facts:

MAR. 2018

MAR. 2019

% Change

$2,063

$1,995

-3%

$616

$827

34%

Properties for Sale

25

15

-40%

Properties Pending Sales

2

4

100%

Properties Sold

2

2

0%

Days on Market (Sold Homes)

127

65

-49%

Monthly Supply of Inventory

12.5

7.5

-40%

8

13.3

66%

Median Price (in $,000)

$1,995,000

Median Sold Price

$1,995,000

Average Sold Price

Average Price Per Sq. Foot

Absorption Rate (closed sales)

15

Listings for Sale

4

AVERAgE & MEDIAN PRICE $18,000

Listings Pending

$3,500 $16,000

$3,000 $14,000 $2,593

$12,000

2

$2,500

Listings Sold

$10,000

$2,000 $8,000 $1,655 $6,000

$1,500

65

Days On Market

$4,000

$1,995 $1,995

$1,000 $2,000 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


Rolling Hills Estates MARCH STATS Key Facts:

MAR. 2018

$1,151,000 Median Sold Price

$1,438,000

Average Sold Price

% Change

Median Price (in $,000)

$1,570

$1,151

-27%

Average Price Per Sq. Foot

$536

$632

18%

Properties for Sale

18

24

33%

Properties Pending Sales

12

13

8%

Properties Sold

10

10

0%

Days on Market (Sold Homes) 46

77

67%

1.8

2.4

33%

41.7

-25%

Monthly Supply of Inventory

Absorption Rate (closed sales) 55.6

24

MAR. 2019

Listings for Sale

AVERAgE & MEDIAN PRICE $2,500

13

Listings Pending

$3,500 $2,000

$3,000

10

$1,438

$1,500 $2,500

Listings Sold

$2,593

$1,151

$2,000

$1,000

$1,655

$1,500

77

Days On Market

$500

$1,000 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


San Pedro MARCH STATS Key Facts:

$545,000

Median Sold Price

$567,000

Average Sold Price

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$591

$545

-8%

Average Price Per Sq. Foot

$419

$408

-3%

Properties for Sale

55

81

47%

Properties Pending Sales

51

50

-2%

Properties Sold

54

38

30%

Days on Market (Sold Homes)

35

42

20%

1

2.1

110%

46.9

-52%

Monthly Supply of Inventory

Absorption Rate (closed sales) 98.2

81

Listings for Sale

50

AVERAgE & MEDIAN PRICE $640

Listings Pending

$3,500 $620

$600 $3,000 $567

$2,593

$580

38

$2,500

Listings Sold

$560 $545 $540 $2,000

$1,655

$520

$1,500

42

$500

Days On Market

$1,000 $480 $460

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


Torrance MARCH STATS Key Facts:

$810,000

Median Sold Price

$830,000

Average Sold Price

MAR. 2018

% Change

Median Price (in $,000)

$790

$810

3%

Average Price Per Sq. Foot

$731

$526

-1%

Properties for Sale

78

111

42%

Properties Pending Sales

95

105

11%

Properties Sold

79

69

-13%

Days on Market (Sold Homes)

17

31

82%

Monthly Supply of Inventory

1

1.6

60%

62.2

-39%

Absorption Rate (closed sales) 101.3

111

MAR. 2019

Listings for Sale

AVERAgE & MEDIAN PRICE $1,000

105

Listings Pending

$830

$900 $3,500

$810

$800

$3,000 $700

69

$2,593

$600 $2,500

Listings Sold

$500

$2,000 $400

$1,655

$300 $1,500

31

Days On Market

$200 $1,000 $100

$500 $Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


RE/MAX Estate Properties • 650+ Local Agents • 16 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277

SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

EL SEGUNDO 402 Main Street El Segundo, CA 90245

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

Re/MaX CoMMeRCial & inVesTMenT RealTy D oW n ToW n los a n G e l e s | s o U T h B ay | www. R e M aXCi R .co m

LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071

SOUTH BAY 450 Silver Spur Rd. Rolling Hills Estates, CA 90275

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

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“Call us today, it’s your move!”


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Top Producer

REALTOR® | DRE# 01762501

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36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


Notes:

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


Notes:

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”


MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

REALTOR® | DRE# 01762501

310.493.2100 Daniel@LiveInLA.net

www.LiveInLA.net

“Call us today, it’s your move!”


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