South Bay Market Intelligence Report Vol. 4 | March 2018 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
Lomita
Gardena
Manhattan Beach
Hawthorne
North Redondo
Hermosa Beach
South Redondo
Lawndale
Torrance
RE/MAX Estate Properties 700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International
Alison Clay-Duboff
President Salty Water Properties, Inc. REALTOR® Lic# 01786922
Cell 310-200-3037 eFax 310-265-6050
alison@alisonisrealestate.com www.saltywaterproperties.com
®
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.
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):
The average number of days that properties were on ACTIVE 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.
Report Notes:
Reports published in March 2018 are based on data available at the end of February 2018. 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.
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12
El Segundo February Stats Key Facts:
$1,293,000
Median Sold Price
$1,371,000
Average Sold Price
12
Feb. Feb. % 2017 2018 Change
Median Price
$740
$1,293
75%
Average Price Per Sq. Foot
$531
$617
16%
Properties for Sale
18
12 -33%
Properties Pending Sales
10
15 50%
Properties Sold
10
8 -20%
Days on Market (Sold Homes)
87
34 -61%
Monthly Supply of Inventory
1.8
1.5 -17%
Absorption Rate (closed sales) 55.6 66.7 20%
Listings for Sale
15
Listings Pending
Average & Median Price $3,500 $1,600 $1,371
$3,000
$1,400
8
Listings Sold
$1,293
$2,593 $2,500 $1,200 $1,000 $2,000
$1,655
34
Days On Market
$800
$1,500
$600
$1,000 $400
$500 $200
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Gardena February Stats Key Facts:
$528,000
Median Sold Price
$493,000
Average Sold Price
Feb. Feb. 2017 2018
Median Price
$475
$528
11%
Average Price Per Sq. Foot
$343
$366
7%
Properties for Sale
38
34 -11%
Properties Pending Sales
46
31 -33%
Properties Sold
27
22 -19%
Days on Market (Sold Homes) 50
43 -14%
Monthly Supply of Inventory
34
Listings Pending
1.4 1.5 7%
Absorption Rate (closed sales) 71.1
Listings for Sale
31
% Change
64.7 -9%
Average & Median Price $3,500
$600 $493
$3,000
$528
$500
22
$2,593
$2,500
Listings Sold
$400
$2,000 $1,655
$300
43
Days On Market
$1,500
$1,000$200
$500$100 $-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Hawthorne February Stats Key Facts:
$595,000
Median Sold Price
$645,000
Average Sold Price
24
Feb. Feb. % 2017 2018 Change
Median Price
$545
$595
9%
Average Price Per Sq. Foot
$454
$483
6%
Properties for Sale
36
24 -33%
Properties Pending Sales
29
32 10%
Properties Sold
21
25 19%
Days on Market (Sold Homes)
26
31 19%
Monthly Supply of Inventory
1.7
1 -41%
Absorption Rate (closed sales) 58.3 104.2 79%
Listings for Sale
32
Listings Pending
Average & Median Price $800
$3,500
$645
$700
$3,000
25
Listings Sold
$595
$600
$2,593
$2,500 $500
$2,000 $1,655
$400
31
Days On Market
$1,500 $300
$1,000
$200
$500
$100
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Hermosa Beach February Stats Key Facts:
$1,370,000 Median Sold Price
$1,602,000
Average Sold Price
42
Feb. Feb. 2017 2018
Median Price
$1,080
$1,370
27%
$672
$1,000
49%
Average Price Per Sq. Foot Properties for Sale
41
42 2%
Properties Pending Sales
15
12 -20%
Properties Sold
9
15 67%
Days on Market (Sold Homes) 33
55 67%
Monthly Supply of Inventory
4.6
2.8 -39%
Absorption Rate (closed sales) 22
35.7 62%
Listings for Sale
12
Listings Pending
% Change
Average & Median Price $3,500
$3,500 $3,000
$3,000
15
Listings Sold
$2,593
$2,500
$2,500 $2,000
$1,602
$2,000
$1,655
55
Days On Market
$1,500 $1,500
$1,370
$1,000 $1,000
$500
$500
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Lawndale February Stats Key Facts:
$530,000
Median Sold Price
$529,000
Average Sold Price
10
Median Price
$535
$530
-1%
Average Price Per Sq. Foot
$373
$403
8%
Properties for Sale
17
10 -41%
Properties Pending Sales
10
14 40%
Properties Sold
9
13 44%
Days on Market (Sold Homes)
45
46 2%
Monthly Supply of Inventory
1.9
0.8 -58%
Absorption Rate (closed sales) 52.9
Listings for Sale
14
Listings Pending
Feb. Feb. % 2017 2018 Change
Average & Median Price $3,500 $700 $529
$3,000
$600
13
Listings Sold
130 146%
$530 $2,593
$2,500
$500
$2,000
$400
46
Days On Market
$1,655
$1,500
$300
$1,000
$200
$500
$100
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Lomita February Stats Key Facts:
$640,000 Median Sold Price
$682,000
Average Sold Price
6
Feb. Feb. 2017 2018
Median Price
$649
$640
-1%
Average Price Per Sq. Foot
$366
$404
10%
Properties for Sale
17
6 -65%
Properties Pending Sales
12
10 -17%
Properties Sold
11
15 36%
Days on Market (Sold Homes) 69
41 -41%
Monthly Supply of Inventory
1.5
0.4 -73%
Absorption Rate (closed sales) 64.7
250 286%
Listings for Sale
10
Listings Pending
Average & Median Price $3,500 $800 $682
$3,000
$700
15
Listings Sold
% Change
$640
$2,593 $2,500 $600 $500 $2,000
$1,655
41
Days On Market
$400
$1,500
$300
$1,000 $200
$500 $100
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Manhattan Beach February Stats Key Facts:
$2,250,000
Median Sold Price
$2,642,000
Average Sold Price
78
Feb. Feb. % 2017 2018 Change
Median Price
$1,548
$2,250
45%
Average Price Per Sq. Foot
$1,040
$1,002
-4%
Properties for Sale
107
78 -27%
Properties Pending Sales
28
31 11%
Properties Sold
16
21 31%
Days on Market (Sold Homes)
47
48 2%
Monthly Supply of Inventory
6.7
3.7 -45%
Absorption Rate (closed sales)
15
26.9 79%
Listings for Sale
31
Listings Pending
Average & Median Price $3,500
$4,000
$3,000 $3,500
21
Listings Sold
$2,593
$2,642
$3,000 $2,500 $2,500
$2,000
$2,250
$1,655
$2,000
48
Days On Market
$1,500 $1,500
$1,000 $1,000
$500
$500
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Redondo Beach February Stats Key Facts:
$1,088,000 Median Sold Price
$1,101,000
Average Sold Price
63
Feb. Feb. 2017 2018
Median Price
$900
$1,088
21%
Average Price Per Sq. Foot
$522
$610
17%
Properties for Sale
74
63 -15%
Properties Pending Sales
67
58 -13%
Properties Sold
49
48 -2%
Days on Market (Sold Homes) 50
25 -50%
Monthly Supply of Inventory
1.3 -13%
Listings Pending
1.5
Absorption Rate (closed sales) 66.2 76.2 15%
Listings for Sale
58
% Change
Average & Median Price $3,500 $1,400
$3,000 $1,101 $2,593 $1,088
$1,200
48
Listings Sold
$2,500 $1,000
$2,000 $800
25
Days On Market
$1,655
$1,500
$600
$1,000
$400
$500
$200
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Torrance February Stats Key Facts:
$810,000
Median Sold Price
$1,325,000
Average Sold Price
73
Median Price
$711
$810
14%
Average Price Per Sq. Foot
$482
$739
53%
Properties for Sale
68
73 7%
Properties Pending Sales
73
84 15%
Properties Sold
61
45 -26%
Days on Market (Sold Homes)
31
20 -35%
Monthly Supply of Inventory
1.1
1.6 45%
Absorption Rate (closed sales) 89.7 61.6 -31%
Listings for Sale
84
Listings Pending
Feb. Feb. % 2017 2018 Change
Average & Median Price $3,500
$1,325
$1,400
$3,000 $1,200
45
Listings Sold
$2,593
$2,500 $1,000
$2,000
$810
$800
20
Days On Market
$1,655
$1,500
$600
$1,000
$400
$500
$200
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
RE/MAX Estate Properties • 700+ Local Agents • 17 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064
HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254
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 Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG ELES | SOUT H BAY| www.REMAXC IR.com
LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071
SOUTH BAY 23001 Hawthorne Blvd., Suite 205 Torrance, CA 90505
Alison Clay-Duboff
President Salty Water Properties, Inc. REALTOR® Lic# 01786922
Cell 310-200-3037 eFax 310-265-6050
alison@alisonisrealestate.com www.saltywaterproperties.com
®