South Bay Market Intelligence Report Vol. 4 | April 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 • 17 Offices • Luxury Residential Commercial Investment Division • International
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.
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 April 2018 are based on data available at the end of March 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 March Stats Key Facts:
$1,214,000
Median Sold Price
$1,219,000
Average Sold Price
Mar. Mar. % 2017 2018 Change
Median Price
$1,100
$1,214
10%
Average Price Per Sq. Foot
$646
$710
10%
Properties for Sale
24
12 -50%
Properties Pending Sales
7
11 57%
Properties Sold
5
14 180%
Days on Market (Sold Homes)
11
34 209%
4.8
0.9 -81%
Absorption Rate (closed sales) 20.8
116.7 461%
Monthly Supply of Inventory
12
Listings for Sale
11
Listings Pending
Average & Median Price $3,500 $1,600
$3,000 $1,400
14
Listings Sold
$1,219
$2,500
$1,214 $2,593
$1,200
$2,000 $1,000 $1,655
34
Days On Market
$800 $1,500 $600
$1,000
$400
$500 $200
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Gardena March Stats Key Facts:
$530,000
Median Sold Price
$524,000
Average Sold Price
31
Listings Pending
$465
$530
14%
Average Price Per Sq. Foot
$331
$365
10%
Properties for Sale
31
31 0%
Properties Pending Sales
40
45 13%
Properties Sold
51
36 -29%
Days on Market (Sold Homes) 39
38 -3%
Monthly Supply of Inventory
0.9 50%
0.6
Absorption Rate (closed sales) 164.5 116.1 -29%
Average & Median Price $3,500 $600
$524 $530
$3,000
36
% Change
Median Price
Listings for Sale
45
Mar. Mar. 2017 2018
$500
$2,593
$2,500
Listings Sold
$400
$2,000 $1,655
38
Days On Market
$300
$1,500
$1,000$200
$500$100 $-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Hawthorne March Stats Key Facts:
$623,000
Median Sold Price
$637,000
Average Sold Price
29
Median Price
$585
$623
6%
Average Price Per Sq. Foot
$447
$427
-4%
Properties for Sale
50
29 -42%
Properties Pending Sales
40
44 10%
Properties Sold
38
34 -11%
Days on Market (Sold Homes)
39
19 -51%
Monthly Supply of Inventory
1.3
0.9 -31%
Absorption Rate (closed sales)
76
117.2 54%
Listings for Sale
44
Listings Pending
Mar. Mar. % 2017 2018 Change
Average & Median Price $3,500 $800 $700 $3,000
$637 $623
34
Listings Sold
$2,593
$600
$2,500
$500
$2,000
$1,655
$400
19
Days On Market
$1,500 $300
$1,000 $200
$500
$100
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Hermosa Beach March Stats Key Facts:
$1,728,000 Median Sold Price
$1,762,000
Average Sold Price
51
Mar. Mar. 2017 2018
Median Price
$1,585
$1,728
9%
Average Price Per Sq. Foot
$1,071
$829
-23%
Properties for Sale
46
51 11%
Properties Pending Sales
18
18 0%
Properties Sold
14
18 29%
Days on Market (Sold Homes) 77
43 -44%
Monthly Supply of Inventory
2.8 -15%
Listings Pending
3.3
Absorption Rate (closed sales) 30.4 35.3 16%
Listings for Sale
18
% Change
Average & Median Price $3,500
$3,500
$3,000
$3,000
18
Listings Sold
43
Days On Market
$2,593
$2,500
$2,500
$1,762
$2,000 $2,000
$1,728 $1,655
$1,500 $1,500
$1,000 $1,000 $500
$500
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Lawndale March Stats Key Facts:
$447,000
Median Sold Price
$428,000
Average Sold Price
15
Median Price
$535
$530
-1%
Average Price Per Sq. Foot
$373
$403
8%
Properties for Sale
17
10 -41%
Properties Pending Sales
10
14 40%
Properties Sold
9
13 44%
Days on Market (Sold Homes)
45
46 2%
Monthly Supply of Inventory
1.9
0.8 -58%
Absorption Rate (closed sales) 52.9
Listings for Sale
15
Listings Pending
Mar. Mar. % 2017 2018 Change
130 146%
Average & Median Price $3,500 $700
$3,000 $600
12
Listings Sold
$2,593 $428
$2,500
$500
$447
$2,000
$400
13
Days On Market
$1,655
$1,500
$300
$1,000 $200 $500 $100 $$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Lomita March Stats Key Facts:
$585,000 Median Sold Price
$583,000
Average Sold Price
11
Listings Pending
% Change
Median Price
$525
$585
11%
Average Price Per Sq. Foot
$387
$411
6%
Properties for Sale
12
11 -8%
Properties Pending Sales
12
17 42%
Properties Sold
15
15 0%
Days on Market (Sold Homes) 55
30 -45%
Monthly Supply of Inventory
0.7 -13%
0.8
Absorption Rate (closed sales) 125 136.4 9%
Listings for Sale
17
Mar. Mar. 2017 2018
Average & Median Price $3,500 $800
$3,000 $700
15
Listings Sold
$583
$2,500
$600
$2,000 $500
30
Days On Market
$2,593 $585
$1,655
$400 $1,500 $300
$1,000
$200
$500 $100
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Manhattan Beach March Stats Key Facts:
$2,250,000
Median Sold Price
$2,683,000
Average Sold Price
80
Mar. Mar. % 2017 2018 Change
Median Price
$2,695
$2,250
-17%
Average Price Per Sq. Foot
$1,124
$1,069
-5%
Properties for Sale
105
80 -24%
Properties Pending Sales
55
48 -13%
Properties Sold
34
38 12%
Days on Market (Sold Homes)
64
41 -36%
Monthly Supply of Inventory
3.1
2.1 -32%
Absorption Rate (closed sales) 32.4 47.5 47%
Listings for Sale
48
Listings Pending
Average & Median Price $3,500 $4,000
$3,000 $3,500
38
Listings Sold
$2,593 $2,500
$2,683
$3,000
$2,500 $2,000
$2,250
$1,655
41
Days On Market
$2,000
$1,500
$1,500
$1,000 $1,000
$500 $500
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Redondo Beach March Stats Key Facts:
$1,050,000 Median Sold Price
$1,182,000
Average Sold Price
85
Mar. Mar. 2017 2018
Median Price
$994
$1,050
6%
Average Price Per Sq. Foot
$564
$587
4%
Properties for Sale
85
85 0%
Properties Pending Sales
73
83 14%
Properties Sold
70
65 -7%
Days on Market (Sold Homes) 33
34 3%
Monthly Supply of Inventory
1.3 8%
Listings Pending
1.2
Absorption Rate (closed sales) 82.4 76.5 -7%
Listings for Sale
83
Average & Median Price $3,500 $1,400
$3,000
65
Listings Sold
% Change
$1,182
$1,200
$2,593
$2,500
$1,050
$1,000
$2,000 $1,655
$800
34
Days On Market
$1,500 $600
$1,000 $400
$500
$200
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Torrance March Stats Key Facts:
$790,000
Median Sold Price
$863,000
Average Sold Price
78
Median Price
$728
$790
9%
Average Price Per Sq. Foot
$507
$531
5%
Properties for Sale
92
78 -15%
Properties Pending Sales
95
108 14%
Properties Sold
84
79 -6%
Days on Market (Sold Homes)
34
17 -50%
Monthly Supply of Inventory
1.1
1 -9%
Absorption Rate (closed sales) 91.3 101.3 11%
Listings for Sale
108
Listings Pending
Mar. Mar. % 2017 2018 Change
Average & Median Price $3,500 $1,400
$3,000 $1,200
79
Listings Sold
$2,593
$2,500 $1,000
$863
$2,000
$790
$800
17
Days On Market
$1,655
$1,500 $600
$1,000
$400
$500
$200
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
RE/MAX Estate Properties • 700+ Local Agents • 17 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064
HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254
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 Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 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
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Info@LynnAndLesley.com
Lic# 01320138
Lic#01324071
Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071