Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | July 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
Rolling Hills Estates
Palos Verdes Peninsula
San Pedro
Rancho Palos Verdes
Harbor City
Rolling Hills
Wilmington
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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071
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 July 2018 are based on data available at the end of June 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 junE Stats Key Facts:
$2,218,000
Median Sold Price
$2,732,000
Average Sold Price
70
JUNE JUNE % 2017 2018 Change
Median Price
$2,350
$2,218
-6%
$793
$732
-8%
Average Price Per Sq. Foot Properties for Sale
80
70 -13%
Properties Pending Sales
15
25 67%
Properties Sold
16
24 50%
Days on Market (Sold Homes)
39
54 38%
Monthly Supply of Inventory
5
2.9 -42%
20
34.3 72%
Absorption Rate (closed sales)
Listings for Sale
25
Listings Pending
Average & Median Price $2,732
$3,000
$3,500 $2,500
$3,000
24
$2,218
$2,593 $2,000 $2,500
Listings Sold $2,000
$1,500
54
Days On Market
$1,655
$1,500 $1,000
$1,000 $500 $500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Rancho Palos Verdes JUNE Stats Key Facts:
$1,300,000 Median Sold Price
$1,461,000
Average Sold Price
128
JUNE JUNE 2017 2018
Median Price
$1,240
$1,300
5%
Average Price Per Sq. Foot
$561
$574
2%
Properties for Sale
113
128 13%
Properties Pending Sales
57
51 -11%
Properties Sold
71
68 -4%
Days on Market (Sold Homes) 31
49 58%
Monthly Supply of Inventory
1.9 19%
Absorption Rate (closed sales) 62.8 53.1 -15%
Listings for Sale
51
Listings Pending
1.6
Average & Median Price $3,500 $1,600
$1,461
$1,400 $3,000
68
Listings Sold
% Change
$1,300
$2,593
$1,200
$2,500
$1,000
$2,000
$1,655
$800
49
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Rolling Hills junE Stats Key Facts:
$2,461,000
Median Sold Price
$2,461,000
Average Sold Price
36
JUNE JUNE % 2017 2018 Change
Median Price
$2,438
$2,461
1%
$717
$582
-19%
Average Price Per Sq. Foot Properties for Sale
27
36 33%
Properties Pending Sales
1
2 100%
Properties Sold
4
2 -50%
Days on Market (Sold Homes)
20
37 85%
Monthly Supply of Inventory
6.8
18 165%
Absorption Rate (closed sales) 14.8
5.6 -62%
Listings for Sale
2
Listings Pending
Average & Median Price $3,500
$4,500
$4,000 $3,000
2
Listings Sold
$2,593
$3,500
$2,500
$3,000
$2,461
$2,000
$2,461
$2,500
37
Days On Market
$1,655
$1,500 $2,000 $1,500 $1,000 $1,000
$500 $500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Rolling Hills Estates JUNE Stats Key Facts:
$1,045,000 Median Sold Price
$1,157,000
Average Sold Price
22
JUNE JUNE 2017 2018
Median Price
$1,189
$1,045
-12%
Average Price Per Sq. Foot
$549
$514
-6%
Properties for Sale
31
22 -29%
Properties Pending Sales
15
14 -7%
Properties Sold
15
10 -33%
Days on Market (Sold Homes) 24
26 8%
Monthly Supply of Inventory
2.2 5%
Listings Pending
2.1
Absorption Rate (closed sales) 48.4 45.5 -6%
Listings for Sale
14
% Change
Average & Median Price $1,800
$3,500
$1,600
$3,000
$1,400
10
Listings Sold
$1,157
$2,500 $1,200
$2,593 $1,045
$1,000 $2,000
$1,655 $800
26
Days On Market
$1,500
$600
$1,000 $400
$500 $200
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
San Pedro junE Stats Key Facts:
$595,000
Median Sold Price
$618,000
Average Sold Price
92
Median Price
$518
$595
15%
Average Price Per Sq. Foot
$368
$403
10%
Properties for Sale
106
92 -13%
Properties Pending Sales
71
61 -14%
Properties Sold
74
55 -26%
Days on Market (Sold Homes)
41
27 -34%
Monthly Supply of Inventory
1.4
1.7 21%
Absorption Rate (closed sales) 69.8 59.8 -14%
Listings for Sale
61
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $3,500 $700
$618
$3,000
$595
$600
55
Listings Sold
$2,593
$2,500 $500
$2,000 $400
27
Days On Market
$1,655
$1,500 $300
$1,000 $200
$500
$100
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Wilmington JUNE Stats Key Facts:
$443,000 Median Sold Price
$432,000
Average Sold Price
11
Listings Pending
% Change
Median Price
$433
$443
2%
Average Price Per Sq. Foot
$303
$383
26%
Properties for Sale
9
11 22%
Properties Pending Sales
10
8 -20%
Properties Sold
18
12 -33%
Days on Market (Sold Homes) 26
32 23%
Monthly Supply of Inventory
0.5
0.9 80%
Absorption Rate (closed sales) 200
109.1 -45%
Listings for Sale
8
JUNE JUNE 2017 2018
Average & Median Price $480 $3,500 $470
$3,000 $460
12
Listings Sold
$2,593
$2,500 $450
$443
$440
$432
$2,000
$1,655
$430
32
Days On Market
$1,500
$420
$1,000 $410 $400
$500
$390
$-
$380 June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
Harbor City junE Stats Key Facts:
$548,000
Median Sold Price
$538,000
Average Sold Price
24
Median Price
$471
$548
16%
Average Price Per Sq. Foot
$291
$356
22%
Properties for Sale
30
24 -20%
Properties Pending Sales
23
20 -13%
Properties Sold
16
16 0%
Days on Market (Sold Homes)
36
29 -19%
Monthly Supply of Inventory
1.9
1.5 -21%
Absorption Rate (closed sales) 53.3 66.7 25%
Listings for Sale
20
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $538
$600
$548
$3,500 $500
$3,000
16
$2,593 $400 $2,500
Listings Sold $2,000
$300
29
Days On Market
$1,655
$1,500 $200
$1,000 $100
$500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018
Median
Average
BUY | SELL | LEASE | INVEST
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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071