South Bay 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 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 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.
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 junE Stats Key Facts:
$1,189,000
Median Sold Price
$1,135,000
Average Sold Price
26
Median Price
$825
$1,189
44%
Average Price Per Sq. Foot
$651
$663
2%
Properties for Sale
15
26 73%
Properties Pending Sales
18
12 -33%
Properties Sold
14
12 -14%
Days on Market (Sold Homes)
27
32 19%
Monthly Supply of Inventory
1.1
2.2 100%
Absorption Rate (closed sales) 93.3
46.2 -50%
Listings for Sale
12
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $3,500 $1,600
$3,000 $1,400
12
Listings Sold
$2,593 $1,189
$2,500
$1,135
$1,200
$2,000 $1,000 $1,655
32
Days On Market
$800 $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
Gardena JUNE Stats Key Facts:
$520,000
Median Sold Price
$499,000
Average Sold Price
JUNE JUNE 2017 2018
Median Price
$475
$520
9%
Average Price Per Sq. Foot
$341
$379
11%
Properties for Sale
45
40 -11%
Properties Pending Sales
54
35 -35%
Properties Sold
52
39 -25%
Days on Market (Sold Homes) 22 Monthly Supply of Inventory
40
Listings Pending
24 9%
0.9 1 11%
Absorption Rate (closed sales) 115.6 97.5 -16%
Listings for Sale
35
% Change
Average & Median Price $3,500 $700
$3,000 $600
39
Listings Sold
$499 $520
$2,500
$2,593
$500
$2,000
$400
24
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
Hawthorne junE Stats Key Facts:
$723,000
Median Sold Price
$760,000
Average Sold Price
29
Median Price
$592
$723
22%
Average Price Per Sq. Foot
$435
$501
15%
Properties for Sale
49
29 -41%
Properties Pending Sales
37
55 49%
Properties Sold
43
36 -16%
Days on Market (Sold Homes)
20
17 -15%
Monthly Supply of Inventory
1.1
0.8 -27%
Absorption Rate (closed sales) 87.8 124.1 41%
Listings for Sale
55
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $760
$800
$3,500
$723 $700
$3,000
36
Listings Sold
$2,593
$600
$2,500 $500
$2,000 $1,655
$400
17
Days On Market
$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
Hermosa Beach JUNE Stats Key Facts:
$1,863,000 Median Sold Price
$2,540,000
Average Sold Price
62
Listings Pending
$1,685
$1,863
11%
Average Price Per Sq. Foot
$844
$990
17%
Properties for Sale
54
62 15%
Properties Pending Sales
23
20 -13%
Properties Sold
27
18 -33%
Days on Market (Sold Homes) 28
34 21%
Monthly Supply of Inventory
2
3.4 70%
Absorption Rate (closed sales) 50
29 -42%
Average & Median Price $3,500
$3,500 $3,000
$2,540
$3,000
18
Listings Sold
% Change
Median Price
Listings for Sale
20
JUNE JUNE 2017 2018
$2,593
$2,500
$2,500 $2,000 $2,000
$1,863
$1,655
34
Days On Market
$1,500 $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
Lawndale junE Stats Key Facts:
$600,000
Median Sold Price
$572,000
Average Sold Price
15
Median Price
$530
$600
13%
Average Price Per Sq. Foot
$444
$410
-8%
Properties for Sale
16
15 -6%
Properties Pending Sales
19
8 -58%
Properties Sold
9
10 11%
Days on Market (Sold Homes)
44
17 -61%
Monthly Supply of Inventory
1.8
1.5 -17%
Absorption Rate (closed sales) 56.3 66.7 18%
Listings for Sale
8
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $3,500
$572
$700
$600
$3,000
$600
10
Listings Sold
$2,593 $2,500
$500
$2,000
$400
17
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
Lomita JUNE Stats Key Facts:
$690,000 Median Sold Price
$664,000
Average Sold Price
JUNE JUNE 2017 2018
Median Price
$620
$690
11%
Average Price Per Sq. Foot
$388
$425
10%
Properties for Sale
17
13 -24%
Properties Pending Sales
22
12 -45%
Properties Sold
17
13 -24%
Days on Market (Sold Homes) 20
27 35%
Monthly Supply of Inventory
13
Listings Pending
1
Average & Median Price $3,500 $800
$3,000
$664
$700
13
Listings Sold
1 0%
Absorption Rate (closed sales) 100 100 0%
Listings for Sale
12
% Change
$690
$2,593 $2,500 $600 $500 $2,000
$1,655
27
Days On Market
$400
$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
Manhattan Beach junE Stats Key Facts:
$2,395,000
Median Sold Price
$2,826,000
Average Sold Price
98
JUNE JUNE % 2017 2018 Change
Median Price
$2,600
$2,395
-8%
Average Price Per Sq. Foot
$1,041
$1,049
1%
Properties for Sale
111
98 -12%
Properties Pending Sales
45
60 33%
Properties Sold
59
53 -10%
Days on Market (Sold Homes)
25
24 -4%
Monthly Supply of Inventory
1.9
1.8 -5%
Absorption Rate (closed sales) 53.2 54.1 2%
Listings for Sale
60
Listings Pending
Average & Median Price $3,500 $3,500
$3,000
53
Listings Sold
$2,826
$3,000
$2,593
$2,500 $2,395
$2,500
$2,000 $2,000
24
Days On Market
$1,655
$1,500 $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
Redondo Beach JUNE Stats Key Facts:
$1,145,000 Median Sold Price
$1,192,000
Average Sold Price
99
Listings Pending
$956
$1,145
20%
Average Price Per Sq. Foot
$582
$585
1%
Properties for Sale
107
99 -7%
Properties Pending Sales
86
84 -2%
Properties Sold
92
82 -11%
Days on Market (Sold Homes) 21
24 14%
Monthly Supply of Inventory
1.2 0%
1.2
Absorption Rate (closed sales) 86
$3,500 $1,400 $1,192
$1,200
Listings Sold
82.8 -4%
Average & Median Price
$3,000
82
% Change
Median Price
Listings for Sale
84
JUNE JUNE 2017 2018
$1,145
$2,593
$2,500 $1,000
$2,000 $800
24
Days On Market
$1,655
$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
Torrance junE Stats Key Facts:
$838,000
Median Sold Price
$885,000
Average Sold Price
126
Median Price
$777
$838
8%
Average Price Per Sq. Foot
$514
$543
6%
Properties for Sale
109 126 16%
Properties Pending Sales
109 126 16%
Properties Sold
146
96 -34%
Days on Market (Sold Homes)
21
20 -5%
Monthly Supply of Inventory
0.7
1.3 86%
Absorption Rate (closed sales) 133.9 76.2 -43%
Listings for Sale
126
Listings Pending
JUNE JUNE % 2017 2018 Change
Average & Median Price $3,500
$1,400
$3,000
$1,200
96
Listings Sold
$2,593 $2,500
$1,000
$885 $838
$2,000 $800
20
Days On Market
$1,655
$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
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
BUY | SELL | LEASE | INVEST
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213-394-2464
www.LynnAndLesley.com Lic# 01320138 Lic# 01324071
Lynn Peters & Lesley Siegel Lynn@LynnandLesley.com 310.291-1191
Lesley@LynnandLesley.com 310.418.4235
Notes:
Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071