South Bay Market Intelligence Report Vol. 4 | August 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
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 August 2018 are based on data available at the end of July 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 juLY Stats Key Facts:
$1,020,000
Median Sold Price
$1,133,000
Average Sold Price
16
JULY JULY % 2017 2018 Change
Median Price
$1,010
$1,020
1%
$581
$633
9%
Average Price Per Sq. Foot Properties for Sale
18
16 -11%
Properties Pending Sales
11
14 27%
Properties Sold
15
15 0%
Days on Market (Sold Homes)
28
32 14%
Monthly Supply of Inventory
1.2
1.1 -8%
Absorption Rate (closed sales) 83.3 93.8 13%
Listings for Sale
14
Listings Pending
Average & Median Price $3,500 $1,600
$1,400 $3,000
15
Listings Sold
32
Days On Market
$2,593
$1,133
$1,200 $2,500
$1,020
$1,000 $2,000 $1,655
$800 $1,500 $600 $1,000
$400 $500 $200 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Gardena JULY Stats Key Facts:
$565,000
Median Sold Price
$545,000
Average Sold Price
49
Listings Pending
$520
$565
9%
Average Price Per Sq. Foot
$352
$388
10%
Properties for Sale
40
49 23%
Properties Pending Sales
43
37 -14%
Properties Sold
51
31 -39%
Days on Market (Sold Homes) 18
28 56%
Monthly Supply of Inventory
0.8
1.6 100%
Absorption Rate (closed sales) 127.5
63.3 -50%
Average & Median Price $3,500$700
$545
$3,000$600
31
% Change
Median Price
Listings for Sale
37
JULY JULY 2017 2018
$565 $2,593
$2,500$500
Listings Sold $2,000$400 $1,655
28
Days On Market
$1,500$300 $1,000$200 $500 $100 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Hawthorne juLY Stats Key Facts:
$737,000
Median Sold Price
$747,000
Average Sold Price
42
JULY JULY % 2017 2018 Change
Median Price
$725
$737
2%
Average Price Per Sq. Foot
$453
$499
10%
Properties for Sale
50
Properties Pending Sales
40 41 3%
Properties Sold
38
45 18%
Days on Market (Sold Homes)
27
19 -30%
Monthly Supply of Inventory
1.3
0.9 -31%
Absorption Rate (closed sales) 76
107.1 41%
Listings for Sale
41
Listings Pending
42 -16%
Average & Median Price $747
$800
$737
$3,500
$700 $3,000
$600
45
$2,593
$2,500
$500
Listings Sold
$2,000 $400
19
Days On Market
$1,655
$1,500 $300 $1,000 $200 $500 $100 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Hermosa Beach JULY Stats Key Facts:
JULY JULY 2017 2018
Median Price
$1,742,000 Median Sold Price
$2,047,000
Average Sold Price
64
Average Price Per Sq. Foot
% Change
$2,063
$1,742
-16%
$857
$1,054
23%
Properties for Sale
54
64 19%
Properties Pending Sales
17
16 -6%
Properties Sold
18
20 11%
Days on Market (Sold Homes) 32
32 0%
Monthly Supply of Inventory
3.2 7%
3
Absorption Rate (closed sales) 33.3 31.3 -6%
Listings for Sale
Average & Median Price $3,500
16
Listings Pending
$3,500 $3,000 $3,000
$2,500
20
Listings Sold
$2,047 $2,593
$2,500
$2,000 $2,000
$1,742 $1,655
32
Days On Market
$1,500 $1,500 $1,000 $1,000
$500 $500 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Lawndale juLY Stats Key Facts:
$535,000
Median Sold Price
$572,000
Average Sold Price
21
Median Price
$530
$535
1%
Average Price Per Sq. Foot
$450
$353
-22%
Properties for Sale
18
21 17%
Properties Pending Sales
9
12 33%
Properties Sold
12
7 -42%
Days on Market (Sold Homes)
23
51 122%
Monthly Supply of Inventory
1.5
3 100%
Absorption Rate (closed sales) 66.7
33.3 -50%
Listings for Sale
12
Listings Pending
JULY JULY % 2017 2018 Change
Average & Median Price $572
$700 $3,500 $600 $3,000
7
Listings Sold
$535 $2,593
$500 $2,500 $400 $2,000
$1,655
51
Days On Market
$300 $1,500 $200 $1,000 $100 $500 $- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Lomita JULY Stats Key Facts:
$720,000 Median Sold Price
$678,000
Average Sold Price
17
JULY JULY 2017 2018
Median Price
$599
$720
20%
Average Price Per Sq. Foot
$383
$449
17%
Properties for Sale
14
17 21%
Properties Pending Sales
17
14 -18%
Properties Sold
18
10 -44%
Days on Market (Sold Homes) 28
17 -39%
Monthly Supply of Inventory
1.7 113%
Listings Pending
0.8
Absorption Rate (closed sales) 128.6 58.8 -54%
Listings for Sale
14
% Change
Average & Median Price $3,500 $800
$678
$720
$700 $3,000
10
Listings Sold
17
Days On Market
$2,593
$600 $2,500 $500 $2,000
$1,655
$400 $1,500 $300 $1,000
$200 $500 $100 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Manhattan Beach juLY Stats Key Facts:
$2,240,000
Median Sold Price
$2,689,000
Average Sold Price
93
JULY JULY % 2017 2018 Change
Median Price
$2,425
$2,240
-8%
$975
$1,121
15%
Average Price Per Sq. Foot Properties for Sale
115
93 -19%
Properties Pending Sales
34
46 35%
Properties Sold
41
49 20%
Days on Market (Sold Homes)
33
49 48%
Monthly Supply of Inventory
2.8
1.9 -32%
Absorption Rate (closed sales) 35.7 52.7 48%
Listings for Sale
46
Listings Pending
Average & Median Price $3,500 $3,500 $2,689
$3,000 $3,000
49
$2,593
$2,500 $2,500
$2,240
Listings Sold $2,000 $2,000
$1,655
49
Days On Market
$1,500 $1,500 $1,000 $1,000 $500$500 $- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Redondo Beach JULY Stats Key Facts:
$1,090,000 Median Sold Price
$1,119,000
Average Sold Price
98
JULY JULY 2017 2018
Median Price
$1,000
$1,090
9%
Average Price Per Sq. Foot
$567
$570
1%
Properties for Sale
102
98 -4%
Properties Pending Sales
92
74 -20%
Properties Sold
81
69 -15%
Days on Market (Sold Homes) 20
30 50%
Monthly Supply of Inventory
1.4 8%
Absorption Rate (closed sales) 79.4 70.4 -11%
Listings for Sale
74
Listings Pending
1.3
Average & Median Price $3,500 $1,400 $3,000 $1,200
69
Listings Sold
% Change
$1,119 $1,090 $2,593
$2,500 $1,000 $2,000 $800
30
Days On Market
$1,655
$1,500 $600 $1,000 $400 $500 $200 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Torrance juLY Stats Key Facts:
$750,000
Median Sold Price
$810,000
Average Sold Price
148
Median Price
$763
$750
-2%
Average Price Per Sq. Foot
$487
$514
6%
Properties for Sale
128
148 16%
Properties Pending Sales
119
109 -8%
Properties Sold
90
111 23%
Days on Market (Sold Homes)
25
25 0%
Monthly Supply of Inventory
1.4
1.3 -7%
Absorption Rate (closed sales) 70.3 75 7%
Listings for Sale
109
Listings Pending
JULY JULY % 2017 2018 Change
Average & Median Price $1,400 $3,500 $1,200 $3,000
111
Listings Sold
$2,593
$1,000 $2,500
$810
$2,000 $800
$750 $1,655
25
Days On Market
$1,500 $600
$1,000 $400
$500 $200 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
RE/MAX Estate Properties • 700+ 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 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 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
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
Notes:
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Lynn Peters & Lesley Siegel Lynn@LynnandLesley.com 310.291-1191
Lesley@LynnandLesley.com 310.418.4235
Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071