TheSouthBay
Market Intelligence Report
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 report covers Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo, Torrance, Hawthorne, Gardena, Lawndale and Lomita.
EST
725 Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Phone: 310.577.5300 EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700 HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200
SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999 SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. This Market Intelligence Report monitors
El Segundo
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.
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.
PROPERTIES FOR SALE: The number of properties that are for sale on the market.
Gardena Hawthorne
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.
Hermosa Beach Lawndale Lomita Manhattan Beach
DAYS ON MARKET (CLOSED SALES):
The average number of days that properties were on ACTIVE on the market.
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.
PROPERTIES PENDING SALE:
The number of properties placed in escrow during any given month.
Redondo Beach
ABSORPTION RATE (CLOSED SALES):
Torrance
REPORT NOTES:
This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.
Reports published in January 2017 are based on data available at the end of Dec. 2016. 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.
Photography courtesy of Brian Holm, AvenueEye.com
El Segundo December Stats
$998,000
Median Sold Price
$1,059,000 Average Sold Price
10 Listings for Sale
Year Over Year
Dec. Dec. 2015 2016
Median Price
$999
$998
0%
Average Price Per Sq. Foot
$526
$650
24%
Properties for Sale
12
10 -17%
Properties Pending Sales
5
7 40%
Properties Sold
9
14 56%
Days on Market (Sold Homes)
69
57 -17%
Monthly Supply of Inventory
1.3
0.7 -46%
Absorption Rate (closed sales)
75
140 87%
$1,600
7 Listings Pending
% Change
Avg. & Median Price by Month
$3,500 $1,400 $3,000 $1,200
$1,059
$998
$2,593
$2,500 $1,000
14 Listings Sold
57 Days On Market
$2,000 $800 $1,655 $600 $1,500
$400 $1,000 $200 $500 $$-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
Gardena December Stats Year Over Year
Dec. Dec. 2015 2016
% Change
Median Price
$416
$475
14%
Average Price Per Sq. Foot
$308
$324
5%
Properties for Sale
57
45 -21%
Properties Pending Sales
30
31 3%
Properties Sold
28
52 86%
Days on Market (Sold Homes)
42
39 -7%
Monthly Supply of Inventory
2
0.9 -55%
49.1
115.6 135%
Absorption Rate (closed sales)
$475,000
Median Sold Price
$473,000
Average Sold Price
45 Listings for Sale
Avg. & Median Price by Month
31
$3,500 $600 $473
$3,000
$500
$475
$2,593
Listings Pending
$2,500 $400
$2,000 $1,655
$300
$1,500
52 Listings Sold
$200
$1,000 $100
$500
$- $-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
39 Days On Market
Hawthorne December Stats
$680,000
Median Sold Price
$624,000 Average Sold Price
37 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$510
$680
33%
Average Price Per Sq. Foot
$386
$425
10%
Properties for Sale
33
37 12%
Properties Pending Sales
25
25 0%
Properties Sold
31
23 -26%
Days on Market (Sold Homes)
47
48 2%
Monthly Supply of Inventory
1.1
1.6 45%
Absorption Rate (closed sales)
93.9
62.2 -34%
$800
25
Dec. Dec. 2015 2016
Avg. & Median Price by Month
$3,500 $700
$624
$680
$3,000 $600
$2,593 $2,500 $500
23 Listings Sold
48 Days On Market
$2,000 $400 $1,655 $1,500 $300 $200 $1,000 $100 $500 $-
$-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
Hermosa Beach December Stats Year Over Year
Dec. Dec. 2015 2016
Median Price Average Price Per Sq. Foot
% Change
$1,575
$1,535
-3%
$927
$910
-2%
Properties for Sale
25
40 60%
Properties Pending Sales
13
11 -15%
Properties Sold
21
14 -33%
Days on Market (Sold Homes)
57
41 -28%
Monthly Supply of Inventory
1.2
2.9 142%
Absorption Rate (closed sales)
84
35 -58%
$3,000
$1,535,000 Median Sold Price
$1,626,000 Average Sold Price
40 Listings for Sale
Avg. & Median Price by Month
11
$3,500 $2,500
$3,000 $2,593
$2,000 $2,500
Listings Pending
$1,626 $1,535
$2,000
$1,500
$1,655
$1,500
14 Listings Sold
$1,000
$1,000 $500
$500 $- $-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
41 Days On Market
Lawndale December Stats
$523,000
Median Sold Price
$482,000
Average Sold Price
12 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$420
$523
25%
Average Price Per Sq. Foot
$353
$420
19%
Properties for Sale
22
12 -45%
Properties Pending Sales
7
9 29%
Properties Sold
11
6 -45%
Days on Market (Sold Homes)
47
44 -6%
Monthly Supply of Inventory
2
2 0%
Absorption Rate (closed sales)
50
50 0%
$600
9
Dec. Dec. 2015 2016
Avg. & Median Price by Month
$482 $523
$3,500 $500
$3,000 $2,593
$400 $2,500
6
$2,000 $300
Listings Sold
$200
$1,655
$1,500
$1,000 $100
44 Days On Market
$500 $$-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
Lomita December Stats Year Over Year
Dec. Dec. 2015 2016
% Change
Median Price
$520
$525
1%
Average Price Per Sq. Foot
$371
$373
1%
Properties for Sale
26
23 -12%
Properties Pending Sales
16
11 -31%
Properties Sold
15
14 -7%
Days on Market (Sold Homes)
84
34 -60%
Monthly Supply of Inventory
1.7
1.6 -6%
Absorption Rate (closed sales)
57.7 60.9 6%
$700
$525,000
Median Sold Price
$544,000 Average Sold Price
23 Listings for Sale
Avg. & Median Price by Month
$3,500 $600
$544
$3,000
$525
$500
$2,593
11 Listings Pending
$2,500 $400
$2,000 $1,655
$300
$1,500
14 Listings Sold
$200
$1,000
$100
$500
$- $-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
34 Days On Market
Manhattan Beach December Stats
$1,790,000
Median Sold Price
$2,001,000 Average Sold Price
73 Listings for Sale
Year Over Year
Dec. Dec. 2015 2016
% Change
Median Price
$2,184
$1,790
-18%
Average Price Per Sq. Foot
$1,077
$840
-22%
Properties for Sale
52
73 40%
Properties Pending Sales
16
18 13%
Properties Sold
28
25 -11%
Days on Market (Sold Homes)
66
35 -47%
Monthly Supply of Inventory
1.9
2.9 53%
Absorption Rate (closed sales)
53.8
34.2 -36%
Avg. & Median Price by Month
18 Listings Pending
$3,500
$3,000
$3,000 $2,500
$2,593
$2,001
$2,500 $2,000
25 Listings Sold
$1,790
$2,000 $1,655
$1,500
$1,500 $1,000
$1,000 $500
35 Days On Market
$500 $$-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
Redondo Beach December Stats Year Over Year
Dec. Dec. 2015 2016
% Change
Median Price
$840
$994
18%
Average Price Per Sq. Foot
$499
$541
8%
Properties for Sale
72
74 3%
Properties Pending Sales
40
49 23%
Properties Sold
75
86 15%
Days on Market (Sold Homes)
56
40 -29%
Monthly Supply of Inventory
1
0.9 -10%
Absorption Rate (closed sales) 104.2 116.2 12%
$1,200
Avg. & Median Price by Month
$994
$3,000 $2,593
$800 $2,500
$2,000
$600
Median Sold Price
$1,106,000 Average Sold Price
74 Listings for Sale
$1,106
$3,500 $1,000
$994,000
$1,655
$1,500
49 Listings Pending
86 Listings Sold
$400
$1,000 $200
$500 $- $-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
40 Days On Market
Torrance December Stats
$735,000
Median Sold Price
$820,000
Average Sold Price
62 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$684
$735
7%
Average Price Per Sq. Foot
$430
$468
9%
Properties for Sale
109
62 -43%
Properties Pending Sales
74
66 -11%
Properties Sold
106
86 -19%
Days on Market (Sold Homes)
63
33 -48%
Monthly Supply of Inventory
1
0.7 -30%
Absorption Rate (closed sales)
$900
66
Dec. Dec. 2015 2016
97.2 138.7 43%
Avg. & Median Price by Month
$820
$3,500 $800
$735
$3,000 $700 $2,593
$600 $2,500 $500
86
$2,000
Listings Sold
$300
$1,655
$400
$1,500
$1,000 $200
33 Days On Market
$500 $100 $$-
Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
CONNECT WITH Alison
f www.facebook.com/AlisonIsRealEstate z www.youtube.com/user/AlisonIsRealEstate t @AlisonIsRealtor i www.linkedin.com/in/alison-clay-duboff-9ba5b96 c/AlisonIsRealEstate p/AlisonIsRealEstate
© 2015-17 RE/MAX Estate Properties