Vol 7 | January 2021
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 • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
310.541.6416 | mdmegowan@gmail.com www.maureenmegowan.com RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club • CLHMS-Luxury Home Specialist • PV & Seniors Specialist • DRE #01368971.
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 San Pedro.............................................................12 Torrance................................................................13
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 January 2021 are based on data available at the end of December 2020. 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 DECEMBER STATS Key Facts:
$1,825,000
Median Sold Price
$1,699,000
Average Sold Price
11
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$1,100
$1,825
66%
Average Price Per Sq. Foot
$789
$710
-10%
Properties for Sale
7
11 57%
Properties Pending Sales
9
12 33%
Properties Sold
9
15 67%
Days on Market (Sold Homes)
23
40 74%
Monthly Supply of Inventory
0.8
0.7 -13%
Absorption Rate (Closed Sales) 128.6 136.4 6%
Listings for Sale
AVERAGE & MEDIAN PRICE
$2,000
12
Listings Pending
$1,800
$3,500 $1,600
$3,000
$1,400
15
Listings Sold
$2,593 $2,500$1,200 $2,000$1,000 $1,655
40
Days On Market
$1,500
$800
$600
$1,000 $400
$500
$-
$200
$Dec 2019
Jan 2020
Feb 2020
Mar 2020
Apr 2020
Jun Jul 2020 Aug 2020 2020
Median
Average
Sep 2020
Oct 2020
Nov 2020
Dec 2020
Gardena DECEMBER STATS Key Facts:
$590,000
Median Sold Price
$597,000
Average Sold Price
24
Listings Pending
2019
$590
-1%
Average Price Per Sq. Foot
$395
$430
9%
Properties for Sale
23
24 4%
Properties Pending Sales
26
37 42%
Properties Sold
34
50 47%
Days on Market (Sold Homes)
54
14 -74%
Monthly Supply of Inventory
0.7
0.5 -29%
Absorption Rate (Closed Sales) 147.8 208.3 41%
AVERAGE & MEDIAN PRICE $3,500 $700 $597 $590
$600
Listings Sold
Change
$595
$3,000
50
2020
Median Price (in $1,000)
Listings for Sale
37
DECEMBER DECEMBER %
$2,593
$2,500 $500
$2,000
$400
14
Days On Market
$1,655
$1,500
$300
$1,000
$200
$500 $100 $-$-
Median
Average
Hawthorne DECEMBER STATS Key Facts:
$800,000
Median Sold Price
$780,000
Average Sold Price
21
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$694
$800
15%
Average Price Per Sq. Foot
$535
$557
4%
Properties for Sale
24
21 -13%
Properties Pending Sales
13
26 100%
Properties Sold
26
40 54%
Days on Market (Sold Homes)
27
22 -19%
Monthly Supply of Inventory
0.9
0.5 -44%
Absorption Rate (Closed Sales) 108.3 190.5 76%
Listings for Sale
26
Listings Pending
AVERAGE & MEDIAN PRICE $3,500$900
$780
$800
$800
$3,000 $700
40
$2,593
$2,500$600
Listings Sold
$500
$2,000
$1,655
$400
22
Days On Market
$1,500
$300
$1,000$200 $100
$500 $-
$-
Median
Average
Hermosa Beach DECEMBER STATS Key Facts:
$1,872,000 Median Sold Price
$1,961,000
Average Sold Price
36
DECEMBER DECEMBER %
2019
Listings Pending
$1,730
$1,872
8%
Average Price Per Sq. Foot
$1,113
$928
-17%
Properties for Sale
30
36 20%
Properties Pending Sales
9
15 67%
Properties Sold
27
24 -11%
Days on Market (Sold Homes)
59
41 -31%
Monthly Supply of Inventory
1.1
1.5 36%
Absorption Rate (Closed Sales) 90
$3,500
$3,500 $3,000 $1,872
$2,500
Listings Sold
66.7 -26%
AVERAGE & MEDIAN PRICE
$3,000
24
Change
Median Price (in $1,000)
Listings for Sale
15
2020
$1,961 $2,593
$2,500 $2,000
$2,000 $1,655
$1,500
41
Days On Market
$1,500 $1,000
$1,000 $500
$500 $-
$-
Median
Average
Lawndale DECEMBER STATS Key Facts:
$535,000
Median Sold Price
$565,000
Average Sold Price
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$617
$535
-13%
Average Price Per Sq. Foot
$460
$423
-8%
Properties for Sale
10
7 -30%
Properties Pending Sales
6
16 167%
Properties Sold
10
12 20%
Days on Market (Sold Homes)
44
27 -39%
1
0.6 -40%
Monthly Supply of Inventory
7
Absorption Rate (Closed Sales) 100 171.4 71%
Listings for Sale
16
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$800 $565
$3,000 $700
12
Listings Sold
$2,593
$600
$535
$2,500
$500
$2,000 $400
27
Days On Market
$1,655
$1,500
$300
$200 $1,000 $100
$500
$-
$-
Median
Average
Lomita DECEMBER STATS Key Facts:
$732,000 Median Sold Price
$677,000
Average Sold Price
9
DECEMBER DECEMBER %
2019
Listings Pending
Change
Median Price (in $1,000)
$633
$732
16%
Average Price Per Sq. Foot
$443
$485
9%
Properties for Sale
9
9 0%
Properties Pending Sales
14
15 7%
Properties Sold
14
22 57%
Days on Market (Sold Homes)
45
23 -49%
Monthly Supply of Inventory
0.6
0.4 -33%
Absorption Rate (Closed Sales) 155.6 244.4 57%
Listings for Sale
15
2020
AVERAGE & MEDIAN PRICE $3,500 $900 $677
$732
$800 $3,000
22
Listings Sold
$2,593
$700
$2,500 $600
$2,000 $500 $1,655 $400
23
Days On Market
$1,500
$300
$1,000 $200 $100
$500
$-
$-
Median
Average
Manhattan Beach DECEMBER STATS Key Facts:
$2,585,000 Median Sold Price
$2,772,000 Average Sold Price
76
DECEMBER DECEMBER %
` 2019
Listings Pending
$2,453
$2,585
5%
Average Price Per Sq. Foot
$1,105
$1,109
0%
Properties for Sale
63
76 21%
Properties Pending Sales
16
16 0%
Properties Sold
36
45 25%
Days on Market (Sold Homes)
64
30 -53%
Monthly Supply of Inventory
1.8
1.7 -6%
Absorption Rate (Closed Sales) 57.1 59.2 4%
AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,000 $3,500
45 Listings Sold
$2,772 $2,593 $2,585
$3,000 $2,500 $2,500 $2,000
$1,655
$2,000
30
Days On Market
Change
Median Price (in $1,000)
Listings for Sale
16
2020
$1,500 $1,500 $1,000 $1,000 $500 $500 $-$-
Dec Jan Feb Mar 2019 2020 2020 2020
Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Redondo Beach DECEMBER STATS Key Facts:
$1,305,000 Median Sold Price
$1,356,000
Average Sold Price
DECEMBER DECEMBER %
2019
2020
Change
Median Price (in $1,000)
$1,150
$1,305
13%
Average Price Per Sq. Foot
$619
$697
13%
Properties for Sale
60
49 -18%
Properties Pending Sales
29
63 117%
Properties Sold
59
69 17%
Days on Market (Sold Homes)
44
23 -48%
1
0.7 -30%
Monthly Supply of Inventory
49
Absorption Rate (Closed Sales) 98.3 140.8 43%
Listings for Sale
63
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $1,600
$1,305
$1,356
$1,400 $3,000
69
Listings Sold
$2,593
$1,200 $2,500 $1,000 $2,000 $800
23
Days On Market
$1,655
$1,500 $600 $1,000 $400 $200 $500 $$-
Median
Average
San Pedro DECEMBER STATS Key Facts:
$593,000
Median Sold Price
$636,000
Average Sold Price
38
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$584
$593
2%
Average Price Per Sq. Foot
$433
$465
7%
Properties for Sale
63
38 -40%
Properties Pending Sales
34
48 41%
Properties Sold
54
72 33%
Days on Market (Sold Homes)
42
21 -50%
Monthly Supply of Inventory
1.2
0.5 -58%
Absorption Rate (Closed Sales) 85.7 189.5 121%
Listings for Sale
48
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $800 $636
$700 $3,000
72
Listings Sold
$593 $2,593
$600 $2,500 $500 $2,000 $400
21
Days On Market
$1,655
$1,500 $300 $1,000 $200 $100 $500 $$-
Median
Average
Torrance DECEMBER STATS Key Facts:
$878,000
Median Sold Price
$973,000
Average Sold Price
61
DECEMBER DECEMBER %
` 2019
2020
Change
Median Price (in $1,000)
$861
$878
2%
Average Price Per Sq. Foot
$551
$595
8%
Properties for Sale
61
61 0%
Properties Pending Sales
35
80 129%
Properties Sold
89
102 15%
Days on Market (Sold Homes)
30
20 -33%
Monthly Supply of Inventory
0.7
0.6 -14%
Absorption Rate (Closed Sales) 145.9 167.2 15%
Listings for Sale
80
Listings Pending
AVERAGE & MEDIAN PRICE $1,200 $3,500 $973 $1,000 $3,000
102
$878 $2,593 $2,500 $800
Listings Sold $2,000 $600
20
Days On Market
$1,655
$1,500 $400 $1,000 $200 $500 $$-
Median
Average
WE A R E T HE COA ST RE/MAX Estate Properties 600+ Local Agents • 12 Offices Luxury Residential • International Commercial Division BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050 EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425 PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
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CALL Maureen at 310.541.6416 RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club CLHMS-Luxury Home Specialist • PV & Seniors Specialist