Vol. 5 | July 2019
Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities
RE/MAX Estate Properties 600+ Local Agents • 14 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
SHERI
McHALE
SHERI McHALE DRE# 01214227
(310) 940-1516
SheriMcHale10@gmail.com www.SheriMcHale.com 1416 W. 25th St. | San Pedro, CA 90732
Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor Cities Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8 Wilmington.......................................................................9 Harbor City .....................................................................10
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 July 2019 are based on data available at the end of June 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
Palos Verdes Estates june Stats Key Facts:
$1,949,000
Median Sold Price
$2,390,000
Average Sold Price
90
June June % 2018 2019 Change
Median Price (in $,000)
$2,218
$1,949
-12%
Average Price Per Sq. Foot
$732
$727
-1%
Properties for Sale
70
90 29%
Properties Pending Sales
23
27 17%
Properties Sold
24
16 -33%
Days on Market (Sold Homes)
54
34 -37%
Monthly Supply of Inventory
2.9
5.6 93%
Absorption Rate (closed sales) 34.3
17.8 -48%
Listings for Sale
27
Listings Pending
Average & Median Price $8,000 $3,500 $7,000 $3,000 $6,000
16
Listings Sold
$2,593 $2,500 $5,000 $2,000 $4,000
34
Days On Market
$1,655
$2,390
$1,500 $3,000
$1,949
$1,000 $2,000
$1,000 $500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 Median
Average
Rancho Palos Verdes june Stats Key Facts:
June 2018
June 2019
$1,300
$1,290
-1%
Average Price Per Sq. Foot
$574
$587
2%
Properties for Sale
128
149 16%
Properties Pending Sales
49
46 -6%
Properties Sold
68
42 -38%
Days on Market (Sold Homes) 49
30 -39%
Monthly Supply of Inventory
1.9
3.5 84%
Absorption Rate (closed sales) 53.1
28.2 -47%
Median Price (in $,000)
$1,290,000 Median Sold Price
$1,374,000
Average Sold Price
149
Listings for Sale
46
Listings Pending
Average & Median Price $1,800 $3,500 $1,600
$1,374
$3,000 $1,400
42
Listings Sold
$1,290 $2,593
$2,500$1,200
$1,000 $2,000 $1,655
$800
30
Days On Market
% Change
$1,500
$600 $1,000
$400
$500 $200 $-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 Median
Average
Rolling Hills june Stats Key Facts:
$2,289,000
Median Sold Price
$2,289,000
Average Sold Price
16
June June % 2018 2019 Change
Median Price (in $,000)
$2,461
$2,289
-7%
Average Price Per Sq. Foot
$582
$968
66%
Properties for Sale
36
16 -56%
Properties Pending Sales
2
2 0%
Properties Sold
2
1 -50%
Days on Market (Sold Homes)
37
0 -100%
Monthly Supply of Inventory
18
16 -11%
Absorption Rate (closed sales) 5.6
6.3 13%
Listings for Sale
2
Listings Pending
Average & Median Price $18,000 $3,500 $16,000 $3,000 $14,000
1
Listings Sold
0
Days On Market
$2,593 $2,500 $12,000
$10,000 $2,000 $1,655
$8,000 $1,500 $6,000 $1,000 $4,000
$2,289 $2,289
$500$2,000 $-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 Median
Average
Rolling Hills Estates june Stats Key Facts:
Median Price (in $,000)
$1,764,000 Median Sold Price
$1,761,000
Average Sold Price
44
Average Price Per Sq. Foot
Listings Pending
June 2019
$1,045
$1,764
69%
$514
$620
21%
% Change
Properties for Sale
22
44 100%
Properties Pending Sales
13
13 0%
Properties Sold
10
12 20%
Days on Market (Sold Homes) 26
58 123%
Monthly Supply of Inventory
2.2
3.7 68%
Absorption Rate (closed sales) 45.5
27.3 -40%
Listings for Sale
13
June 2018
Average & Median Price $2,500 $3,500
$3,000 $2,000
12
Listings Sold
$1,761
$1,764 $2,593
$2,500
$1,500 $2,000 $1,655
58
Days On Market
$1,000 $1,500
$1,000
$500 $500
$-
$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 Median
Average
San Pedro june Stats Key Facts:
$601,000
Median Sold Price
$596,000
Average Sold Price
100
Median Price (in $,000)
$599
$601
0%
Average Price Per Sq. Foot
$404
$427
6%
Properties for Sale
92
100 9%
Properties Pending Sales
52
61 17%
Properties Sold
54
48 -11%
Days on Market (Sold Homes)
28
31 11%
Monthly Supply of Inventory
1.7
2.1 24%
Absorption Rate (closed sales) 58.7 48 -18%
Listings for Sale
61
Listings Pending
June June % 2018 2019 Change
Average & Median Price $3,500 $700
$596 $601
$3,000 $600
48
$2,593 $2,500 $500
Listings Sold $400 $2,000 $1,655
31
Days On Market
$300 $1,500 $200 $1,000 $100 $500 $- $-
June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 Median
Average
Wilmington june Stats Key Facts:
$472,000 Median Sold Price
$437,000
Average Sold Price
24
June 2018
June 2019
Median Price (in $,000)
$443
$472
7%
Average Price Per Sq. Foot
$383
$299
-22%
Properties for Sale
11
24 118%
Properties Pending Sales
8
20 150%
Properties Sold
12
7 -42%
Days on Market (Sold Homes) 32
24 -25%
Monthly Supply of Inventory
3.4 278%
Listings Pending
0.9
Absorption Rate (closed sales) 109.1 29.2 -73%
Listings for Sale
20
Average & Median Price $600 $3,500 $500 $3,000
7
% Change
$437
$472 $2,593
$2,500$400
Listings Sold $2,000 $300
24
Days On Market
$1,655
$1,500
$200 $1,000
$100 $500 $- $-
June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 Median
Average
Harbor City june Stats Key Facts:
$615,000
Median Sold Price
$552,000
Average Sold Price
27
Median Price (in $,000)
$563
$615
9%
Average Price Per Sq. Foot
$364
$388
7%
Properties for Sale
24
27 13%
Properties Pending Sales
16
25 56%
Properties Sold
17
11 -35%
Days on Market (Sold Homes)
30
46 53%
Monthly Supply of Inventory
1.4
2.5 79%
Absorption Rate (closed sales) 70.8
40.7 -43%
Listings for Sale
25
Listings Pending
June June % 2018 2019 Change
Average & Median Price $700 $552
$3,500 $600
$615
$3,000
$500
11
Listings Sold
$2,593
$2,500
$400 $2,000
46
Days On Market
$1,655
$300 $1,500 $200 $1,000 $100 $500 $- $-
June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 Median
Average
RE/MAX Estate Properties • 600+ Local Agents • 14 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
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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
SHERI
McHALE
SHERI McHALE DRE# 01214227
(310) 940-1516
SheriMcHale10@gmail.com www.SheriMcHale.com 1416 W. 25th St. | San Pedro, CA 90732