Vol. 5 | December 2019
Market Intelligence Report South Bay Edition Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community
RE/MAX Estate Properties 600+ Local Agents • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
(424) 241-3311
RE/MAX
ESTATE PROPERTIES
info@stearnsliebteam.com www.stearnsliebteam.com DRE# 01920602, 01851243, and 00779647 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 Hermosa Beach......................................................5 Manhattan Beach...................................................6 Redondo Beach......................................................7 Torrance..................................................................8
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 December 2019 are based on data available at the end of November 2019. 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.
El Segundo November Stats Key Facts:
$1,330,000
Median Sold Price
$1,426,000
Average Sold Price
10
NOV NOV % 2018 2019 Change
Median Price (in $1,000)
$1,150
$1,330
16%
Average Price Per Sq. Foot
$623
$682
9%
Properties for Sale
34
10 -71%
Properties Pending Sales
9
12 33%
Properties Sold
5
17 240%
Days on Market (Sold Homes)
26
55 112%
Monthly Supply of Inventory
6.8
0.6 -91%
Absorption Rate (Closed Sales) 14.7
Listings for Sale
Average & Median Price
$1,800
12
Listings Pending
170 1056%
$1,600
$3,500 $1,400
$3,000
17
$1,200
$2,593
$2,500
Listings Sold
$1,000
$2,000 $1,655
$800
55
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$$Nov 2018
Dec 2018
Jan 2019
Feb 2019
Mar 2019
Median
May 2019
Jun Jul 2019 Aug 2019 2019
Average
Sep 2019
Oct 2019
Nov 2019
Hermosa Beach November Stats Key Facts:
$1,289,000 Median Sold Price
$1,679,000
Average Sold Price
46
NOV 2018
NOV 2019
% Change
Median Price (in $1,000)
$1,625
$1,289
-21%
Average Price Per Sq. Foot
$979
$807
-18%
Properties for Sale
50
46 -8%
Properties Pending Sales
12
24 100%
Properties Sold
14
20 43%
Days on Market (Sold Homes)
59
58 -2%
Monthly Supply of Inventory
3.6
2.3 -36%
Absorption Rate (Closed Sales) 28
43.5 55%
Listings for Sale
24
Listings Pending
Average & Median Price $3,500
$3,500 $3,000
$3,000
20
Listings Sold
$2,500
$2,593
$2,500 $1,679
$2,000
$2,000 $1,655 $1,500
58
Days On Market
$1,289
$1,500
$1,000
$1,000
$500
$500
$- $-
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Manhattan Beach November Stats Key Facts:
$2,500,000
Median Sold Price
$3,002,000
Average Sold Price
80
NOV NOV % 2018 2019 Change
Median Price (in $1,000)
$2,325
$2,500
8%
Average Price Per Sq. Foot
$1,056
$1,038
-2%
Properties for Sale
88
80 -9%
Properties Pending Sales
20
28 40%
Properties Sold
27
43 59%
Days on Market (Sold Homes)
43
48 12%
Monthly Supply of Inventory
3.3
1.9 -42%
Absorption Rate (Closed Sales) 30.7 53.8 75%
Listings for Sale
28
Listings Pending
Average & Median Price $3,500
$3,500 $3,002
$3,000
$3,000
43
Listings Sold
$2,593
$2,500
$2,500
$2,500
$2,000 $2,000 $1,655
48
Days On Market
$1,500 $1,500 $1,000 $1,000 $500 $500
$-
$Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Redondo Beach November Stats Key Facts:
NOV 2018
NOV 2019
$1,043
$1,000
-4%
Average Price Per Sq. Foot
$587
$598
2%
Properties for Sale
133
81 -39%
Properties Pending Sales
54
59 9%
Properties Sold
43
65 51%
Days on Market (Sold Homes)
20
42 110%
Monthly Supply of Inventory
3.1
1.2 -61%
Absorption Rate (Closed Sales) 32.3
80.2 148%
Median Price (in $1,000)
$1,000,000 Median Sold Price
$1,059,000
Average Sold Price
81
Listings for Sale
59
Listings Pending
% Change
Average & Median Price $3,500 $1,400
$3,000
$1,200
65
Listings Sold
$1,059
$2,593
$1,000
$2,500
$1,000
$2,000 $800
42
Days On Market
$1,655
$1,500 $600 $400 $1,000 $200 $500
$-
$Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Torrance November Stats Key Facts:
$844,000
Median Sold Price
$943,000
Average Sold Price
81
Median Price (in $1,000)
$795
$844
6%
Average Price Per Sq. Foot
$529
$573
8%
Properties for Sale
133
81 -39%
Properties Pending Sales
69
85 23%
Properties Sold
79
72 -9%
Days on Market (Sold Homes)
30
38 27%
Monthly Supply of Inventory
1.7
1.1 -35%
Absorption Rate (Closed Sales) 59.4 88.9 50%
Listings for Sale
85
Listings Pending
NOV NOV % 2018 2019 Change
Average & Median Price $943
$3,500 $1,000 $900
$844
$3,000
$800
72
$2,593
$2,500$700
Listings Sold
$600
$2,000
$1,655
$500
38
Days On Market
$1,500$400 $300
$1,000
$200
$500
$100
$-
$Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
RE/MAX Estate Properties • 600+ Local Agents • 13 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
SOUTH BAY 23740 Hawthorne Blvd., 2nd Fl Torrance, CA 90505
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
Silicon BEACH WESTCHESTER 7131 W. Manchester Ave. Los Angeles, CA 90045
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
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
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
(424) 241-3311
RE/MAX
ESTATE PROPERTIES
info@stearnsliebteam.com www.stearnsliebteam.com DRE# 01920602, 01851243, and 00779647 Information deemed reliable but not guaranteed.