Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | November 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 Palos Verdes Estates
San Pedro
Rancho Palos Verdes
Harbor City
Rolling Hills
Wilmington
Rolling Hills Estates
RE/MAX Estate Properties 700+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International
Gary E. LaTourette
Real Estate Consultant DRE# 01424026
Cell: 310.503.7408 Office: 310.378.9494
GaryLT@remaxpv.com | Search the MLS at GaryLT.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.
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.
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.
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.
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 Nov. 2018 are based on data available at the end of Oct. 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
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 Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8 Wilmington.......................................................................9 Harbor City .....................................................................10
Palos Verdes Estates OCTOBER Stats Key Facts:
$1,700,000
Median Sold Price
$1,687,000
Average Sold Price
57
OCT. OCT. % 2017 2018 Change
Median Price
$1,600
$1,700
6%
$758
$756
0%
Average Price Per Sq. Foot Properties for Sale
50
57 14%
Properties Pending Sales
14
13 -7%
Properties Sold
12
14 17%
Days on Market (Sold Homes)
58
28 -52%
Monthly Supply of Inventory
4.2
4.1 -2%
Absorption Rate (closed sales)
24
24.6 3%
Listings for Sale
13
Listings Pending
Average & Median Price $3,000
$3,500
$3,000 $2,500
14
Listings Sold
$2,593 $2,500
$2,000
$1,687 $1,700
$2,000 $1,500
28
Days On Market
$1,655
$1,500 $1,000
$1,000 $500
$500
$- $-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Rancho Palos Verdes OCTOBER Stats Key Facts:
$1,150,000 Median Sold Price
$1,197,000
Average Sold Price
120
OCT. 2017
OCT. 2018
Median Price
$1,265
$1,150
-9%
Average Price Per Sq. Foot
$550
$578
5%
Properties for Sale
109
120 10%
Properties Pending Sales
33
41 24%
Properties Sold
45
41 -9%
Days on Market (Sold Homes) 43
37 -14%
Monthly Supply of Inventory
2.4
2.9 21%
Absorption Rate (closed sales) 41.3
34.2 -17%
Listings for Sale
41
Listings Pending
Average & Median Price $1,600 $3,500 $1,400
$3,000
41
Listings Sold
% Change
$1,197
$2,593 $1,150
$1,200
$2,500 $1,000
$2,000 $1,655
$800
37
Days On Market
$1,500
$600
$1,000
$400
$500 $200 $- $-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Rolling Hills OCTOBER Stats Key Facts:
$3,240,000
Median Sold Price
$7,741,000
Average Sold Price
22
OCT. OCT. % 2017 2018 Change
Median Price
$3,060
$3,240
6%
$578
$494
-15%
Average Price Per Sq. Foot Properties for Sale
24
22 -8%
Properties Pending Sales
2
3 50%
Properties Sold
2
4 100%
Days on Market (Sold Homes)
61
123 102%
Monthly Supply of Inventory
12
5.5 -54%
Absorption Rate (closed sales) 8.3
18.2 119%
Listings for Sale
3
Listings Pending
Average & Median Price $9,000 $3,500
$7,741
$8,000
$3,000
$7,000
4
Listings Sold
$2,593
$2,500
$6,000
$2,000 $5,000 $1,655
123
Days On Market
$4,000
$1,500
$3,240
$3,000
$1,000 $2,000
$500
$1,000
$- $-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Rolling Hills Estates OCTOBER Stats Key Facts:
$1,519,000 Median Sold Price
$1,808,000
Average Sold Price
30
OCT. 2017
Listings Pending
% Change
Median Price
$868
$1,519
75%
Average Price Per Sq. Foot
$462
$681
47%
Properties for Sale
27
30 11%
Properties Pending Sales
3
15 400%
Properties Sold
8
6 -25%
Days on Market (Sold Homes) 18
16 -11%
Monthly Supply of Inventory
3.4
5 47%
Absorption Rate (closed sales) 29.6
20 -32%
Listings for Sale
15
OCT. 2018
Average & Median Price $3,500 $2,000 $1,808
$1,800
$3,000
$1,600
6
Listings Sold
$1,519
$2,593
$2,500 $1,400 $1,200
$2,000
$1,655
$1,000
16
Days On Market
$1,500
$800 $600
$1,000
$400
$500
$200
$-$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
San Pedro OCTOBER Stats Key Facts:
$590,000
Median Sold Price
$625,000
Average Sold Price
91
Median Price
$539
$590
9%
Average Price Per Sq. Foot
$402
$390
-3%
Properties for Sale
71
91 28%
Properties Pending Sales
49
46 -6%
Properties Sold
60
51 -15%
Days on Market (Sold Homes)
26
33 27%
Monthly Supply of Inventory
1.2
1.8 50%
Absorption Rate (closed sales) 84.5
56 -34%
Listings for Sale
46
Listings Pending
OCT. OCT. % 2017 2018 Change
Average & Median Price $3,500 $700
$625
$3,000
$590
$600
51
Listings Sold
$2,593 $2,500
$500
$2,000
$400
33
Days On Market
$1,655
$1,500 $300 $1,000 $200 $100 $500
$-$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Wilmington OCTOBER Stats Key Facts:
$496,000 Median Sold Price
$464,000
Average Sold Price
OCT. 2017
$425
$496
17%
Average Price Per Sq. Foot
$325
$329
1%
Properties for Sale
28
31 11%
Properties Pending Sales
9
13 44%
Properties Sold
12
13 8%
Days on Market (Sold Homes) 35
Listings Pending
2.3 2.4 4%
Average & Median Price $600 $3,500
$3,000 $500
13
Listings Sold
14 -60%
Absorption Rate (closed sales) 42.9 41.9 -2%
Listings for Sale
13
% Change
Median Price
Monthly Supply of Inventory
31
OCT. 2018
$464
$496
$2,593 $2,500
$400
$2,000 $1,655
$300
14
Days On Market
$1,500 $200
$1,000 $100
$500
$-$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Harbor City OCTOBER Stats Key Facts:
$595,000
Median Sold Price
$575,000
Average Sold Price
20
OCT. OCT. % 2017 2018 Change
Median Price
$505
$595
18%
Average Price Per Sq. Foot
$326
$260
-20%
Properties for Sale
28
20 -29%
Properties Pending Sales
16
19 19%
Properties Sold
20
7 -65%
Days on Market (Sold Homes)
41
33 -20%
Monthly Supply of Inventory
1.4
2.9 107%
Absorption Rate (closed sales) 71.4
Listings for Sale
19
Listings Pending
35 -51%
Average & Median Price $700
$575
$3,500
$595
$600
$3,000
7
Listings Sold
$2,593
$500
$2,500
$400
$2,000
$1,655
33
Days On Market
$300
$1,500
$200
$1,000
$100
$500 $-$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 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 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
Gary E. LaTourette Cell: 310.503.7408 Office: 310.378.9494 GaryLT@remaxpv.com | Search the MLS at GaryLT.com
DRE#01424026
Real Estate Consultant