Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | June 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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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 June 2018 are based on data available at the end of May 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 may Stats Key Facts:
$1,693,000
Median Sold Price
$2,287,000
Average Sold Price
63
MAY MAY % 2017 2018 Change
Median Price
$1,900
$1,693
-11%
$668
$824
23%
Average Price Per Sq. Foot Properties for Sale
68
63 -7%
Properties Pending Sales
15
24 60%
Properties Sold
21
18 -14%
Days on Market (Sold Homes)
42
47 12%
Monthly Supply of Inventory
3.2 3.5 9%
Absorption Rate (closed sales) 30.9 28.6 -7%
Listings for Sale
Average & Median Price $3,000
24
Listings Pending
$3,500
$2,287
$2,500 $3,000
18
$2,593
$2,000 $2,500
$1,693
Listings Sold $2,000 $1,500
47
Days On Market
$1,655
$1,500
$1,000 $1,000
$500 $500
$-
$May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 Median
Average
Rancho Palos Verdes may Stats Key Facts:
$1,369,000 Median Sold Price
$1,455,000
Average Sold Price
93
MAY MAY 2017 2018
Median Price
$1,290
$1,369
6%
Average Price Per Sq. Foot
$566
$598
6%
Properties for Sale
105
93 -11%
Properties Pending Sales
65
63 -3%
Properties Sold
48
48 0%
Days on Market (Sold Homes) 35
37 6%
Monthly Supply of Inventory
1.9 -14%
Absorption Rate (closed sales) 45.7 51.6 13%
Listings for Sale
63
Listings Pending
2.2
Average & Median Price $1,455
$3,500$1,600
$1,369
$1,400 $3,000
48
Listings Sold
$2,593
$1,200 $2,500 $1,000 $2,000
$1,655
$800
37
Days On Market
% Change
$1,500
$600 $1,000
$400 $500
$-
$200 $May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 Median
Average
Rolling Hills may Stats Key Facts:
$3,813,000
Median Sold Price
$3,813,000
Average Sold Price
37
MAY MAY % 2017 2018 Change
Median Price
$2,450
$3,813
56%
$834
$695
-17%
Average Price Per Sq. Foot Properties for Sale
25
37 48%
Properties Pending Sales
3
2 -33%
Properties Sold
1
2 100%
Days on Market (Sold Homes)
102
86 -16%
Monthly Supply of Inventory
25
18.5 -26%
Absorption Rate (closed sales)
4
5.4 35%
Listings for Sale
2
Listings Pending
Average & Median Price $4,500 $3,500
$3,813
$4,000
$3,813
$3,000
$3,500
2
Listings Sold
$2,593
$2,500 $3,000 $2,000 $2,500 $1,655
86
Days On Market
$2,000 $1,500 $1,500 $1,000 $1,000 $500
$500 $-
$May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 Median
Average
Rolling Hills Estates may Stats Key Facts:
$1,313,000 Median Sold Price
$1,573,000
Average Sold Price
24
MAY MAY 2017 2018
Median Price
$1,046
$1,313
26%
$543
$651
20%
Average Price Per Sq. Foot
% Change
Properties for Sale
36
24 -33%
Properties Pending Sales
16
14 -13%
Properties Sold
20
8 -60%
Days on Market (Sold Homes) 22
26 18%
Monthly Supply of Inventory
3 67%
1.8
Absorption Rate (closed sales) 55.6
Listings for Sale
33.3 -40%
Average & Median Price $1,800
14
Listings Pending
$1,573
$3,500$1,600 $3,000$1,400
8
Listings Sold
$1,313 $2,593
$1,200 $2,500 $1,000 $2,000
$1,655
$800
26
Days On Market
$1,500
$600 $1,000
$400 $500
$-
$200 $May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 Median
Average
San Pedro may Stats Key Facts:
$608,000
Median Sold Price
$628,000
Average Sold Price
74
MAY MAY % 2017 2018 Change
Median Price
$599
$608
2%
Average Price Per Sq. Foot
$400
$416
4%
Properties for Sale
96
74 -23%
Properties Pending Sales
61
74 21%
Properties Sold
53
56 6%
Days on Market (Sold Homes)
42
17 -60%
Monthly Supply of Inventory
1.8
1.3 -28%
Absorption Rate (closed sales) 55.2 75.7 37%
Listings for Sale
74
Listings Pending
Average & Median Price $3,500 $700
$628 $608
$3,000 $600
56
Listings Sold
$2,593 $2,500 $500 $2,000 $400
17
Days On Market
$1,655
$1,500 $300 $1,000 $200 $500 $100 $-
$May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 Median
Average
Wilmington may Stats Key Facts:
$440,000 Median Sold Price
$420,000
Average Sold Price
11
Listings Pending
% Change
Median Price
$379
$440
16%
Average Price Per Sq. Foot
$324
$310
-4%
Properties for Sale
15
11 -27%
Properties Pending Sales
19
14 -26%
Properties Sold
12
13 8%
Days on Market (Sold Homes) 24
38 58%
Monthly Supply of Inventory
1.3
0.8 -38%
Absorption Rate (closed sales) 80
118.2 48%
Listings for Sale
14
MAY MAY 2017 2018
Average & Median Price $500 $3,500 $420 $440
$450 $3,000 $400
13
Listings Sold
$2,593 $2,500$350
$300 $2,000 $1,655
$250
38
Days On Market
$1,500 $200 $1,000$150
$100 $500 $50 $-
$May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 Median
Average
Harbor City may Stats Key Facts:
$563,000
Median Sold Price
$551,000
Average Sold Price
28
MAY MAY % 2017 2018 Change
Median Price
$503
$563
12%
Average Price Per Sq. Foot
$339
$373
10%
Properties for Sale
29
28 -3%
Properties Pending Sales
16
16 0%
Properties Sold
14
14 0%
Days on Market (Sold Homes)
31
14 -55%
Monthly Supply of Inventory
2.1
2 -5%
Absorption Rate (closed sales) 48.3 50 4%
Listings for Sale
Average & Median Price $551
$600
16
Listings Pending
$563
$3,500
$500 $3,000
14
$2,593
$400 $2,500
Listings Sold $2,000 $300
14
Days On Market
$1,655
$1,500
$200 $1,000
$100 $500
$-
$May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 Median
Average
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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071