South Bay Market Intelligence Report Vol. 4 | Dec 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 • 16 Offices • Luxury Residential Commercial Investment Division • International
Ed MacLaughlin (310) 567-2385
ed@edmachomes.com DRE#01340803
Winner Two Years in a Row #1 Real Estate Listing Agent and #1 Buyers Agent! by the ‘Easy Reader News’ people’s poll
www.edmachomes.com www.TotalRealEstate.Listingbook.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 Dec. 2018 are based on data available at the end of Nov. 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 NOVEMBER STATS Key Facts:
$1,150,000
Median Sold Price
$1,313,000
Average Sold Price
34
NOV. NOV. % 2017 2018 Change
Median Price
$1,238
$1,150
-7%
Average Price Per Sq. Foot
$678
$623
-8%
Properties for Sale
11
34 209%
Properties Pending Sales
8
7 -13%
Properties Sold
12
5 -58%
Days on Market (Sold Homes)
20
26 30%
Monthly Supply of Inventory
0.9
6.8 656%
Absorption Rate (closed sales) 109.1
14.7 -87%
Listings for Sale
7
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$1,800
$1,600 $3,000
5
Listings Sold
$1,313
$1,400
$2,500
$2,593 $1,150
$1,200
$2,000
$1,000
26
Days On Market
$1,655
$800 $1,500 $600
$1,000 $400
$500
$200
$- $-
Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Gardena NOVEMBER STATS Key Facts:
$550,000
Median Sold Price
$543,000
Average Sold Price
60
NOV. 2017
Listings Pending
$533
$550
3%
Average Price Per Sq. Foot
$375
$420
12%
Properties for Sale
45
60 33%
Properties Pending Sales
39
35 -10%
Properties Sold
40
33 -18%
Days on Market (Sold Homes) 35
21 -40%
Monthly Supply of Inventory
1.8 64%
1.1
Absorption Rate (closed sales) 88.9
55 -38%
AVERAGE & MEDIAN PRICE $3,500 $700 $543
$3,000 $600
33
% Change
Median Price
Listings for Sale
35
NOV. 2018
$550
$2,593 $500 $2,500
Listings Sold $400 $2,000
$1,655
21
Days On Market
$300 $1,500 $200 $1,000 $100 $500
$-
$Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Hawthorne NOVEMBER STATS Key Facts:
$635,000
Median Sold Price
$656,000
Average Sold Price
42
NOV. NOV. % 2017 2018 Change
Median Price
$605
$635
5%
Average Price Per Sq. Foot
$412
$484
17%
Properties for Sale
32
42 31%
Properties Pending Sales
28
23 -18%
Properties Sold
27
15 -44%
Days on Market (Sold Homes)
40
29 -28%
Monthly Supply of Inventory
1.2
2.8 133%
Absorption Rate (closed sales) 84.4
35.7 -58%
Listings for Sale
23
Listings Pending
AVERAGE & MEDIAN PRICE $3,500$800 $656
$700
$3,000
15
Listings Sold
$635
$2,593
$600
$2,500 $500
$2,000 $400
29
Days On Market
$1,655
$1,500
$300
$1,000
$200
$500 $100 $- $-
Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Hermosa Beach NOVEMBER STATS Key Facts:
NOV. 2017
NOV. 2018
% Change
$1,600
$1,625
2%
Average Price Per Sq. Foot
$851
$979
15%
Properties for Sale
34
50 47%
Properties Pending Sales
11
14 27%
Properties Sold
18
14 -22%
Days on Market (Sold Homes) 26
59 127%
Monthly Supply of Inventory
3.6 89%
Median Price
$1,625,000 Median Sold Price
$1,903,000
Average Sold Price
50
Absorption Rate (closed sales) 52.9
Listings for Sale
14
Listings Pending
1.9
28 -47%
AVERAGE & MEDIAN PRICE $3,500
$3,500 $3,000
$3,000
14
Listings Sold
$2,500
$2,593
$2,500
$1,903
$2,000
$2,000
$1,625
$1,655
$1,500
59
Days On Market
$1,500 $1,000
$1,000
$500
$500
$-$-
Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Lawndale NOVEMBER STATS Key Facts:
$586,000
Median Sold Price
$551,000
Average Sold Price
20
Median Price
$525
$586
12%
Average Price Per Sq. Foot
$370
$480
30%
Properties for Sale
13
20 54%
Properties Pending Sales
10
13 30%
Properties Sold
17
9 -47%
Days on Market (Sold Homes)
36
19 -47%
Monthly Supply of Inventory
0.8
2.2 175%
Absorption Rate (closed sales) 130.8 45 -66%
Listings for Sale
13
Listings Pending
NOV. NOV. % 2017 2018 Change
AVERAGE & MEDIAN PRICE $3,500
$700
$551 $586
$3,000
$600
9
Listings Sold
$2,593 $2,500
$500
$2,000 $400 $1,655
19
Days On Market
$1,500 $300 $1,000 $200 $100 $500
$-$-
Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Lomita NOVEMBER STATS Key Facts:
$700,000 Median Sold Price
$715,000
Average Sold Price
27
NOV. 2017
Listings Pending
$603
$700
16%
Average Price Per Sq. Foot
$390
$482
24%
Properties for Sale
12
27 125%
Properties Pending Sales
12
14 17%
Properties Sold
9
10 11%
Days on Market (Sold Homes) 25
36 44%
Monthly Supply of Inventory
1.3
2.7 108%
Absorption Rate (closed sales) 75
37 -51%
AVERAGE & MEDIAN PRICE $3,500
$800
$715 $700
$3,000 $700
10
Listings Sold
% Change
Median Price
Listings for Sale
14
NOV. 2018
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
36
Days On Market
$1,500 $300
$1,000
$200
$500 $100
$-
$Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Manhattan Beach NOVEMBER STATS Key Facts:
$2,325,000
Median Sold Price
$2,496,000
Average Sold Price
88
NOV. NOV. % 2017 2018 Change
Median Price
$2,400
$2,325
-3%
Average Price Per Sq. Foot
$1,062
$1,056
-1%
Properties for Sale
70
88 26%
Properties Pending Sales
29
25 -14%
Properties Sold
35
27 -23%
Days on Market (Sold Homes)
63
43 -32%
Monthly Supply of Inventory
2
3.3 65%
50
30.7 -39%
Absorption Rate (closed sales)
Listings for Sale
25
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$4,000
$3,000 $3,500
27
Listings Sold
$2,593
$3,000 $2,500
$2,496
$2,500
$2,325
$2,000
$1,655
$2,000
43
Days On Market
$1,500 $1,500
$1,000
$1,000
$500 $500 $-$-
Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Redondo Beach NOVEMBER STATS Key Facts:
$1,046,000 Median Sold Price
$1,055,000
Average Sold Price
133
NOV. 2017
Listings Pending
% Change
Median Price
$945
$1,046
11%
Average Price Per Sq. Foot
$572
$590
3%
Properties for Sale
84
133 58%
Properties Pending Sales
57
57 0%
Properties Sold
65
42 -35%
Days on Market (Sold Homes) 26
20 -23%
Monthly Supply of Inventory
1.3
3.2 146%
Absorption Rate (closed sales) 77.4
31.6 -59%
Listings for Sale
57
NOV. 2018
AVERAGE & MEDIAN PRICE $3,500 $1,400
$3,000 $1,200
42
Listings Sold
$1,055 $2,593 $1,046
$2,500
$1,000
$2,000
$800
20
Days On Market
$1,655
$1,500 $600 $1,000 $400 $200 $500
$- $-
Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Torrance NOVEMBER STATS Key Facts:
$795,000
Median Sold Price
$872,000
Average Sold Price
133
Median Price
$780
$795
2%
Average Price Per Sq. Foot
$507
$523
3%
Properties for Sale
64
133 108%
Properties Pending Sales
75
75 0%
Properties Sold
90
78 -13%
Days on Market (Sold Homes)
27
30 11%
Monthly Supply of Inventory
0.7
1.7 143%
Absorption Rate (closed sales) 140.6 58.6 -58%
Listings for Sale
75
Listings Pending
NOV. NOV. % 2017 2018 Change
AVERAGE & MEDIAN PRICE $3,500 $1,400 $3,000 $1,200
78
$2,593 $1,000 $2,500
$872
Listings Sold
$795
$2,000$800
$1,655
30
Days On Market
$1,500$600 $1,000$400 $500$200 $- $-
Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
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 ANG EL ES | 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
Notes:
Notes:
Ed MacLaughlin (310) 567-2385
ed@edmachomes.com DRE#01340803
Winner Two Years in a Row #1 Real Estate Listing Agent and #1 Buyers Agent! by the ‘Easy Reader News’ people’s poll
www.edmachomes.com www.TotalRealEstate.Listingbook.com