Vol. III Nov 2017
The SouthBay 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.
Julie Schulte Maddox
Broker/Manager - License #00633359 Full Time Realtor Since 1978 RE/MAX Hall of Fame GMA, CDPE, SRES, PVS, QSC & Notary Public
Direct: 310/373-5311 | Fax: 310/791-9412 jmaddox@remaxpv.com | www.juliemax.com http://juliemaddox.housingtrendsenewsletter.com
700+ 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 WESTCHESTER 7131 W. Manchester Ave. Los Angeles, CA 90045 Phone: 310.802.6000
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 November 2017 are based on data available at the end of October 2017. 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 October Stats
$1,050,000
Median Sold Price
$1,086,000 Average Sold Price
19 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
Median Price
$988
$1,050
6%
Average Price Per Sq. Foot
$596
$678
14%
% Change
Properties for Sale
27
19 -30%
Properties Pending Sales
16
12 -25%
Properties Sold
12
15 25%
Days on Market (Sold Homes)
38
45 18%
Monthly Supply of Inventory
2.3
1.3 -43%
Absorption Rate (closed sales)
44.4 78.9 78%
Avg. & Median Price by Month
12 Listings Pending
$3,500 $1,400 $3,000 $1,200
$1,086
$1,050 $2,593
$2,500 $1,000
15 Listings Sold
45
$2,000 $800 $1,655
$600 $1,500 $400 $1,000 $200 $500 $-$-
Days On Market Median
Average
Gardena October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$485
$510
5%
Average Price Per Sq. Foot
$349
$401
15%
Properties for Sale
63
53 -16%
Properties Pending Sales
36
47 31%
Properties Sold
45
40 -11%
Days on Market (Sold Homes)
31
32 3%
Monthly Supply of Inventory
1.4
1.3 -7%
Absorption Rate (closed sales)
71.4 75.5 6%
$510,000
Median Sold Price
$502,000
Average Sold Price
53 Listings for Sale
Avg. & Median Price by Month $3,500 $600
47
$502 $510
$3,000 $500
$2,593
Listings Pending
$2,500 $400 $2,000 $1,655
$300 $1,500
40 Listings Sold
$200 $1,000
$100 $500
32
$- $-
Days On Market Median
Average
Hawthorne October Stats
$585,000
Median Sold Price
$631,000 Average Sold Price
39 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$578
$585
1%
Average Price Per Sq. Foot
$395
$423
7%
Properties for Sale
55
39 -29%
Properties Pending Sales
36
28 -22%
Properties Sold
33
47 42%
Days on Market (Sold Homes)
26
26 0%
Monthly Supply of Inventory
1.7
0.8 -53%
Absorption Rate (closed sales)
60
120.5 101%
Avg. & Median Price by Month
28 Listings Pending
$3,500$800
$700 $3,000
$631 $585 $2,593
$600 $2,500 $500
47 Listings Sold
26
$2,000 $1,655
$400 $1,500 $300 $1,000 $200 $500$100 $-
$-
Days On Market Median
Average
Hermosa Beach October Stats Year Over Year
Oct. Oct. 2016 2017
Median Price Average Price Per Sq. Foot
% Change
$1,975
$1,401
-29%
$993
$1,043
5%
Properties for Sale
49
40 -18%
Properties Pending Sales
22
23 5%
Properties Sold
23
18 -22%
Days on Market (Sold Homes)
60
57 -5%
Monthly Supply of Inventory
2.1
2.2 5%
Absorption Rate (closed sales) 46.9
45 -4%
$3,500
$1,401,000 Median Sold Price
$2,301,000 Average Sold Price
40 Listings for Sale
Avg. & Median Price by Month
23
$3,500 $3,000 $3,000
$2,301
$2,500
$2,593
Listings Pending
$2,500
$2,000 $2,000 $1,655 $1,401
$1,500 $1,500
18 Listings Sold
$1,000 $1,000 $500 $500
57
$- $-
Days On Market Median
Average
Lawndale October Stats
$513,000
Median Sold Price
$508,000
Average Sold Price
14 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$411
$513
25%
Average Price Per Sq. Foot
$432
$400
-7%
Properties for Sale
16
14 -13%
Properties Pending Sales
7
20 186%
Properties Sold
8
16 100%
Days on Market (Sold Homes)
36
46 28%
Monthly Supply of Inventory
2
0.9 -55%
Absorption Rate (closed sales)
50
114.3 129%
Avg. & Median Price by Month
20 Listings Pending
$3,500 $700
$508
$3,000 $600
$513 $2,593 $2,500 $500
16 Listings Sold
46
$2,000 $400 $1,655 $1,500 $300
$200 $1,000 $100 $500 $- $-
Days On Market Median
Average
Lomita October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$630
$573
-9%
Average Price Per Sq. Foot
$410
$385
-6%
Properties for Sale
22
16 -27%
Properties Pending Sales
11
14 27%
Properties Sold
7
14 100%
Days on Market (Sold Homes)
98
24 -76%
Monthly Supply of Inventory
3.1
1.1 -65%
Absorption Rate (closed sales)
31.8
87.5 175%
$573,000
Median Sold Price
$600,000 Average Sold Price
16 Listings for Sale
Avg. & Median Price by Month
14
$3,500 $700
$600
$3,000 $600
$573 $2,593
Listings Pending
$2,500 $500 $2,000 $400
$1,655
$1,500 $300
14 Listings Sold
$1,000 $200
$100 $500
24
$- $-
Days On Market Median
Average
Manhattan Beach October Stats
$3,188,000
Median Sold Price
$3,292,000 Average Sold Price
93 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$2,250
$3,188
42%
Average Price Per Sq. Foot
$1,007
$1,105
10%
Properties for Sale
94
93 -1%
Properties Pending Sales
30
40 33%
Properties Sold
41
26 -37%
Days on Market (Sold Homes)
42
75 79%
Monthly Supply of Inventory
2.3
3.6 57%
Absorption Rate (closed sales)
43.6
28 -36%
Avg. & Median Price by Month
40 Listings Pending
$3,500 $4,000
$3,292
$3,000 $3,500
$3,188 $2,593
$3,000 $2,500
26 Listings Sold
75
$2,500 $2,000 $1,655
$2,000 $1,500
$1,500 $1,000 $1,000 $500 $500 $-$-
Days On Market Median
Average
Redondo Beach October Stats Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$891
$1,063
19%
Average Price Per Sq. Foot
$539
$573
6%
Properties for Sale
98
110 12%
Properties Pending Sales
76
79 4%
Properties Sold
66
62 -6%
Days on Market (Sold Homes)
39
31 -21%
Monthly Supply of Inventory
1.5
1.8 20%
Absorption Rate (closed sales)
67.3
56.4 -16%
$1,063,000
Median Sold Price
$1,152,000 Average Sold Price
110 Listings for Sale
Avg. & Median Price by Month
79
$3,500
$1,400 $3,000
$1,152
$1,200
$2,593 $1,063
$2,500 $1,000 $2,000 $800
$1,655
$1,500 $600
Listings Pending
62 Listings Sold
$1,000$400
$200 $500
31
$- $-
Days On Market Median
Average
Torrance October Stats
$796,000
Median Sold Price
$831,000
Average Sold Price
86 Listings for Sale
Year Over Year
Oct. Oct. 2016 2017
% Change
Median Price
$728
$796
9%
Average Price Per Sq. Foot
$472
$503
7%
Properties for Sale
109
86 -21%
Properties Pending Sales
96
91 -5%
Properties Sold
96
94 -2%
Days on Market (Sold Homes)
35
29 -17%
Monthly Supply of Inventory
1.1
0.9 -18%
Absorption Rate (closed sales)
88.1 109.3 24%
Avg. & Median Price by Month
91 Listings Pending
$1,000 $3,500 $831
$900 $3,000 $800
$796 $2,593
$2,500 $700
94 Listings Sold
$600 $2,000 $500
$1,655
$1,500 $400
$300 $1,000 $200
29
$500 $100 $-
$-
Days On Market Median
Average
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© 2015-17 RE/MAX Estate Properties
Julie Schulte Maddox
Broker/Manager - License #00633359 Full Time Realtor Since 1978 RE/MAX Hall of Fame GMA, CDPE, SRES, PVS, QSC & Notary Public
Direct: 310/373-5311 | Fax: 310/791-9412 jmaddox@remaxpv.com | www.juliemax.com http://juliemaddox.housingtrendsenewsletter.com