Vol. III Oct 2017
Palos Verdes + Harbor
Market Intelligence Report
Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Palos Verdes & Harbor real estate market. This report covers Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates and the Harbor areas including San Pedro, Wilmington and Harbor City
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
Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor cities. This Market Intelligence Report monitors
Palos Verdes Estates
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.
Rancho Palos Verdes
Rolling Hills
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):
Rolling Hills Estates
The average number of days that properties were on ACTIVE on the market.
Months Supply Of Inventory:
San Pedro
Wilmington
Harbor City
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.
Report Notes:
Reports published in October 2017 are based on data available at the end of September 2017. All reports presented are based on data supplied by the CRMLS or CLAW 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
Palos Verdes Estates September Stats
$1,679,000 Median Sold Price
Year Over Year
Sept. Sept. 2016 2017
Median Price Average Price Per Sq. Foot
$1,838,000 Average Sold Price
58 Listings for Sale
Listings Pending
$1,953
$1,679
-14%
$674
$695
3%
Properties for Sale
59
58 -2%
Properties Pending Sales
18
13 -28%
Properties Sold
8
28 250%
Days on Market (Sold Homes)
113
52 -54%
Monthly Supply of Inventory
7.4
2.1 -72%
Absorption Rate (closed sales)
13.6
48.3 255%
$3,000
13
Avg. & Median Price by Month
$3,500 $2,500 $3,000
$1,838
$2,000
$2,593
$2,500
28 Listings Sold
% Change
$1,679
$1,500 $2,000 $1,655 $1,500 $1,000 $1,000
$500
52 Days On Market
$500 $- $-
Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median
Average
Rancho Palos Verdes September Stats Year Over Year
Sept. Sept. 2016 2017
% Change
Median Price
$920
$1,157
26%
Average Price Per Sq. Foot
$516
$568
10%
Properties for Sale
123
111 -10%
Properties Pending Sales
42
51 21%
Properties Sold
33
39 18%
Days on Market (Sold Homes)
43
30 -30%
Monthly Supply of Inventory
3.7
2.8 -24%
Absorption Rate (closed sales)
26.8
35.1 31%
$1,600
$1,157,000 Median Sold Price
$1,167,000 Average Sold Price
111 Listings for Sale
Avg. & Median Price by Month
$3,500
$1,400 $1,167
$3,000
$1,157 $2,593
$1,200
51 Listings Pending
$2,500 $1,000 $2,000
$1,500
$800
$1,655
$600
Listings Sold
$1,000 $400 $500 $200
$-
39
$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median
Average
30 Days On Market
Rolling Hills September Stats
N/A Median Sold Price
N/A Average Sold Price
25 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
N/A
N/A
N/A
Average Price Per Sq. Foot
N/A
N/A
N/A
Properties for Sale
28
25 -11%
Properties Pending Sales
1
5 400%
Properties Sold
0
0 N/A
Days on Market (Sold Homes)
0
0 N/A
Monthly Supply of Inventory
28
25 -11%
Absorption Rate (closed sales)
0
0 N/A
$5,000
5
Sept. Sept. 2016 2017
Avg. & Median Price by Month
$3,500 $4,500 $3,000$4,000 $2,593
$3,500 $2,500 $3,000
0 Listings Sold
N/A Days On Market
$2,000 $2,500
$1,655
$1,500$2,000
$1,500 $1,000 $1,000 $500 $500 $-
$$-
$-
Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017
Median
Average
Rolling Hills Estates September Stats Year Over Year
Sept. Sept. 2016 2017
Median Price Average Price Per Sq. Foot
% Change
$1,090
$926
-15%
$564
$506
-10%
Properties for Sale
39
21 -46%
Properties Pending Sales
11
13 18%
Properties Sold
11
14 27%
Days on Market (Sold Homes)
52
70 35%
Monthly Supply of Inventory
3.5
1.5 -57%
Absorption Rate (closed sales)
28.2
66.7 137%
$1,600
Median Sold Price
$1,366,000 Average Sold Price
21 Listings for Sale
Avg. & Median Price by Month $1,366
$3,500 $1,400
13
$1,200 $3,000 $2,593
$1,000 $2,500
Listings Pending
$926
$2,000$800 $1,655 $1,500$600
14 Listings Sold
$1,000$400 $500$200 $- $-
$926,000
Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median
Average
70 Days On Market
San Pedro September Stats
$560,000
Median Sold Price
$565,000 Average Sold Price
92 Listings for Sale
Year Over Year
Sept. Sept. 2016 2017
% Change
Median Price
$496
$560
13%
Average Price Per Sq. Foot
$373
$363
-3%
Properties for Sale
133
92 -31%
Properties Pending Sales
63
70 11%
Properties Sold
62
71 15%
Days on Market (Sold Homes)
51
37 -27%
Monthly Supply of Inventory
2.1
1.3 -38%
Absorption Rate (closed sales)
46.6 77.2 66%
Avg. & Median Price by Month
70 Listings Pending
$3,500 $700
$565
$3,000 $600
$560 $2,593
$2,500 $500
71 Listings Sold
37 Days On Market
$2,000 $400 $1,655
$300 $1,500 $200 $1,000 $100 $500 $- $-
Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median
Average
Wilmington September Stats Year Over Year
Sept. Sept. 2016 2017
% Change
Median Price
$355
$416
17%
Average Price Per Sq. Foot
$258
$295
14%
Properties for Sale
19
23 21%
Properties Pending Sales
6
19 217%
Properties Sold
9
6 -33%
Days on Market (Sold Homes)
56
30 -46%
Monthly Supply of Inventory
2.1
3.8 81%
Absorption Rate (closed sales)
47.4
26.1 -45%
$416,000
Median Sold Price
$419,000 Average Sold Price
23 Listings for Sale
Avg. & Median Price by Month $500 $3,500 $450
$419
$416
$3,000$400 $2,593
$350 $2,500
19 Listings Pending
$300 $2,000 $250
$1,655
$1,500$200
6 Listings Sold
$150 $1,000 $100 $500
$-
$50 $Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median
Average
30 Days On Market
Harbor City September Stats
$505,000
Median Sold Price
$533,000
Average Sold Price
31 Listings for Sale
Year Over Year
Sept. Sept. 2016 2017
% Change
Median Price
$490
$505
3%
Average Price Per Sq. Foot
$303
$347
15%
Properties for Sale
28
31 11%
Properties Pending Sales
20
21 5%
Properties Sold
16
19 19%
Days on Market (Sold Homes)
29
23 -21%
Monthly Supply of Inventory
1.8
1.6 -11%
Absorption Rate (closed sales)
57.1 61.3 7%
$700
Avg. & Median Price by Month $533
21 Listings Pending
$3,500 $600
$505
$3,000 $500
$2,593 $2,500 $400
19 Listings Sold
23 Days On Market
$2,000 $1,655
$300 $1,500
$200 $1,000 $100 $500 $$-
Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median
Average
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Notes:
Notes:
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