South Bay 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 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 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.
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 may Stats Key Facts:
$1,065,000
Median Sold Price
$1,061,000
Average Sold Price
18
MAY MAY % 2017 2018 Change
Median Price
$880
$1,065
21%
Average Price Per Sq. Foot
$666
$725
9%
Properties for Sale
19
18 -5%
Properties Pending Sales
8
18 125%
Properties Sold
8
12 50%
Days on Market (Sold Homes)
32
24 -25%
Monthly Supply of Inventory
2.4
1.5 -38%
Absorption Rate (closed sales) 42.1
66.7 58%
Listings for Sale
18
Listings Pending
Average & Median Price $1,600 $3,500 $1,400 $3,000
12
Listings Sold
$1,200 $2,500
$1,061
$1,000 $2,000 $1,655
$800
24
Days On Market
$2,593 $1,065
$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
Gardena may Stats Key Facts:
$579,000
Median Sold Price
$563,000
Average Sold Price
42
Listings Pending
$510
$579
14%
Average Price Per Sq. Foot
$378
$397
5%
Properties for Sale
46
42 -9%
Properties Pending Sales
53
39 -26%
Properties Sold
47
37 -21%
Days on Market (Sold Homes) 32
19 -41%
Monthly Supply of Inventory
1.1 10%
1
Absorption Rate (closed sales) 102.2 88.1 -14%
Average & Median Price $3,500 $700
$563 $579
$3,000 $600
37
% Change
Median Price
Listings for Sale
39
MAY MAY 2017 2018
$2,593 $2,500 $500
Listings Sold $2,000 $400 $1,655
19
Days On Market
$1,500 $300 $1,000
$500
$-
$200
$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
Hawthorne may Stats Key Facts:
$660,000
Median Sold Price
$701,000
Average Sold Price
44
MAY MAY % 2017 2018 Change
Median Price
$605
$660
9%
Average Price Per Sq. Foot
$453
$500
10%
Properties for Sale
46
44 -4%
Properties Pending Sales
41
39 -5%
Properties Sold
40
46 15%
Days on Market (Sold Homes)
25
26 4%
Monthly Supply of Inventory
1.2
1 -17%
Absorption Rate (closed sales) 87
Listings for Sale
39
Listings Pending
Average & Median Price $800 $3,500
$701
$700
$660
$3,000
46
104.5 20%
$600
$2,593
$2,500
Listings Sold
$500 $2,000 $400
26
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
Hermosa Beach may Stats Key Facts:
$1,680,000 Median Sold Price
$1,842,000
Average Sold Price
57
MAY MAY 2017 2018
% Change
Median Price
$1,738
$1,680
-3%
Average Price Per Sq. Foot
$1,311
$949
-28%
Properties for Sale
48
57 19%
Properties Pending Sales
25
24 -4%
Properties Sold
22
21 -5%
Days on Market (Sold Homes) 43
33 -23%
Monthly Supply of Inventory
2.2
2.7 23%
Absorption Rate (closed sales) 45.8
36.8 -20%
Listings for Sale
Average & Median Price $3,500
24
Listings Pending
$3,500 $3,000 $3,000
$2,500
21
Listings Sold
$2,593
$2,500
$1,842
$2,000 $2,000
33
Days On Market
$1,680 $1,655
$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
Lawndale may Stats Key Facts:
$635,000
Median Sold Price
$598,000
Average Sold Price
16
MAY MAY % 2017 2018 Change
Median Price
$508
$635
25%
Average Price Per Sq. Foot
$403
$394
-2%
Properties for Sale
22
16 -27%
Properties Pending Sales
7
13 86%
Properties Sold
13
13 0%
Days on Market (Sold Homes)
22
39 77%
Monthly Supply of Inventory
1.7
1.2 -29%
Absorption Rate (closed sales) 59.1
81.3 38%
Listings for Sale
13
Listings Pending
Average & Median Price $598 $635
$700 $3,500 $600 $3,000
13
Listings Sold
$2,593
$500 $2,500 $400 $2,000
$1,655
39
Days On Market
$300 $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
Lomita may Stats Key Facts:
$512,000 Median Sold Price
$536,000
Average Sold Price
13
Listings Pending
% Change
Median Price
$547
$512
-6%
Average Price Per Sq. Foot
$360
$375
4%
Properties for Sale
20
13 -35%
Properties Pending Sales
17
14 -18%
Properties Sold
11
10 -9%
Days on Market (Sold Homes) 44
30 -32%
Monthly Supply of Inventory
1.8
1.3 -28%
Absorption Rate (closed sales) 55
76.9 40%
Listings for Sale
14
MAY MAY 2017 2018
Average & Median Price $3,500 $800 $3,000$700
10
Listings Sold
30
Days On Market
$536
$2,500$600
$2,593
$512 $500 $2,000 $1,655
$400 $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
Manhattan Beach may Stats Key Facts:
$2,774,000
Median Sold Price
$3,163,000
Average Sold Price
92
MAY MAY % 2017 2018 Change
Median Price
$2,150
$2,774
29%
Average Price Per Sq. Foot
$1,106
$1,060
-4%
Properties for Sale
102
92 -10%
Properties Pending Sales
53
50 -6%
Properties Sold
47
38 -19%
Days on Market (Sold Homes)
45
43 -4%
Monthly Supply of Inventory
2.2 2.4 9%
Absorption Rate (closed sales) 46.1
Listings for Sale
50
Listings Pending
Average & Median Price $3,500 $3,500
$3,163
$3,000 $3,000
38
41.3 -10%
$2,774 $2,593
$2,500 $2,500
Listings Sold $2,000 $2,000 $1,655
43
Days On Market
$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
Redondo Beach may Stats Key Facts:
$1,123,000 Median Sold Price
$1,222,000
Average Sold Price
96
MAY MAY 2017 2018
Median Price
$1,075
$1,123
4%
Average Price Per Sq. Foot
$584
$607
4%
Properties for Sale
90 96 7%
Properties Pending Sales
98
84 -14%
Properties Sold
78
68 -13%
Days on Market (Sold Homes) 29
20 -31%
Monthly Supply of Inventory
1.4 17%
Listings Pending
Average & Median Price $3,500
$2,500
Listings Sold $2,000
20
Days On Market
$1,400 $1,222
$3,000
68
1.2
Absorption Rate (closed sales) 86.7 70.8 -18%
Listings for Sale
84
% Change
$1,500
$1,000
$500
$-
$1,200
$1,123 $2,593
$1,000
$800
$1,655
$600
$400
$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
Torrance may Stats Key Facts:
$868,000
Median Sold Price
$925,000
Average Sold Price
131
MAY MAY % 2017 2018 Change
Median Price
$770
$868
13%
Average Price Per Sq. Foot
$488
$540
11%
Properties for Sale
97
131 35%
Properties Pending Sales
139
101 -27%
Properties Sold
96 98 2%
Days on Market (Sold Homes)
21
21 0%
Monthly Supply of Inventory
1
1.3 30%
99
74.8 -24%
Absorption Rate (closed sales)
Listings for Sale
101
Listings Pending
Average & Median Price $3,500 $1,400 $3,000 $1,200
98
$2,593
$925
$2,500 $1,000
$868
Listings Sold $2,000
$800 $1,655
21
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
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
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
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
EL SEGUNDO 402 Main Street El Segundo, CA 90245
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
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