Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | February 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 Palos Verdes Estates
Rolling Hills Estates
Palos Verdes Peninsula
San Pedro
Rancho Palos Verdes
Harbor City
Rolling Hills
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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.
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 February 2018 are based on data available at the end of January 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
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
Palos Verdes Estates JANUARY STATS Key Facts:
$1,550,000
Median Sold Price
$1,590,000
Average Sold Price
31
Jan. Jan. % 2017 2018 Change
Median Price
$2,040
$1,550
-24%
$663
$716
8%
Average Price Per Sq. Foot Properties for Sale
47
31 -34%
Properties Pending Sales
17
18 6%
Properties Sold
12
15 25%
Days on Market (Sold Homes)
66
42 -36%
Monthly Supply of Inventory
3.9
2.1 -46%
Absorption Rate (closed sales) 25.5 48.4 90%
Listings for Sale
18
Listings Pending
AVERAGE & MEDIAN PRICE $3,000
$3,500 $2,500
$3,000
15
$2,593 $2,500 $2,000 $1,590
Listings Sold
$1,550
$2,000 $1,500
42
Days On Market
$1,655
$1,500 $1,000
$1,000 $500 $500
$-
$-
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018
Median
Average
Rancho Palos Verdes JANUARY STATS Key Facts:
$1,311,000
Median Sold Price
$1,403,000
Average Sold Price
65
Jan. Jan. 2017 2018
Median Price
$1,114
$1,311
18%
Average Price Per Sq. Foot
$543
$561
3%
Properties for Sale
83
65 -22%
Properties Pending Sales
26
50 92%
Properties Sold
28
24 -14%
Days on Market (Sold Homes)
57
69 21%
Monthly Supply of Inventory
3
2.7 -10%
Absorption Rate (closed sales) 33.7 36.9 9%
Listings for Sale
50
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$1,600
$1,403
$3,000 $1,400
24
Listings Sold
% Change
$1,311
$2,593 $1,200 $2,500 $1,000
$2,000 $1,655 $800
69
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$-
$-
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018
Median
Average
Rolling Hills JANUARY STATS Key Facts:
$3,500,000
Median Sold Price
$3,710,000
Average Sold Price
Jan. Jan. % 2017 2018 Change
Median Price
$3,950
$3,500
-11%
$776
$768
-1%
Average Price Per Sq. Foot Properties for Sale
17
21 24%
Properties Pending Sales
1
3 200%
Properties Sold
1
3 200%
Days on Market (Sold Homes)
225
197 -12%
17
7 -59%
Absorption Rate (closed sales) 5.9
14.3 142%
Monthly Supply of Inventory
21
Listings for Sale
3
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $4,500
$3,710
$4,000 $3,000
3
Listings Sold
$3,500
$3,500
$2,593
$2,500 $3,000
$2,000 $2,500
197
Days On Market
$1,655
$1,500 $2,000 $1,500
$1,000 $1,000
$500 $500
$-
$-
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018
Median
Average
Rolling Hills Estates JANUARY STATS Key Facts:
$1,500,000
Median Sold Price
$1,355,000
Average Sold Price
11
Listings Pending
% Change
Median Price
$870
$1,500
72%
Average Price Per Sq. Foot
$520
$515
-1%
Properties for Sale
22
11 -50%
Properties Pending Sales
6
8 33%
Properties Sold
9
5 -44%
Days on Market (Sold Homes)
123
36 -71%
Monthly Supply of Inventory
2.4
2.2 -8%
Absorption Rate (closed sales) 40.9 45.5 11%
Listings for Sale
8
Jan. Jan. 2017 2018
AVERAGE & MEDIAN PRICE $1,600
$3,500
$1,500 $1,355
$1,400
$3,000
5
Listings Sold
$2,593
$1,200
$2,500 $1,000
$2,000 $1,655
$800
36
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$-
$Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018
Median
Average
San Pedro JANUARY STATS Key Facts:
$569,000
Median Sold Price
$623,000
Average Sold Price
53
Jan. Jan. % 2017 2018 Change
Median Price
$490
$569
16%
Average Price Per Sq. Foot
$357
$375
5%
Properties for Sale
86
53 -38%
Properties Pending Sales
59
47 -20%
Properties Sold
47
20 -57%
Days on Market (Sold Homes)
48
41 -15%
Monthly Supply of Inventory
1.8
2.7 50%
Absorption Rate (closed sales) 54.7 37.7 -31%
Listings for Sale
47
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $700
$623
$3,000
20
Listings Sold
$569$2,593
$600
$2,500 $500
$2,000 $1,655
$400
41
Days On Market
$1,500 $300
$1,000 $200
$500 $100
$-
$-
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018
Median
Average
Wilmington JANUARY STATS Key Facts:
$414,000
Median Sold Price
$425,000
Average Sold Price
22
Listings Pending
$355
$414
17%
Average Price Per Sq. Foot
$315
$290
-8%
Properties for Sale
21
22 5%
Properties Pending Sales
15
11 -27%
Properties Sold
10
8 -20%
Days on Market (Sold Homes)
60 62 3%
Monthly Supply of Inventory
2.1
2.8 33%
Absorption Rate (closed sales) 47.6
36.4 -24%
AVERAGE & MEDIAN PRICE $3,500
$500
$425
$450 $3,000
8
Listings Sold
% Change
Median Price
Listings for Sale
11
Jan. Jan. 2017 2018
$414
$400
$2,593
$2,500 $350
$2,000 $300 $1,655 $250
62
Days On Market
$1,500
$200
$1,000 $150 $100
$500
$50 $-
$Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018
Median
Average
Harbor City JANUARY STATS Key Facts:
$402,000
Median Sold Price
$428,000
Average Sold Price
Jan. Jan. % 2017 2018 Change
Median Price
$535
$402
-25%
Average Price Per Sq. Foot
$297
$348
17%
Properties for Sale
21
21 0%
Properties Pending Sales
14
18 29%
Properties Sold
7
9 29%
40
39 -3%
3
2.3 -23%
Days on Market (Sold Homes) Monthly Supply of Inventory
21
Absorption Rate (closed sales) 33.3 42.9 29%
Listings for Sale
18
Listings Pending
AVERAGE & MEDIAN PRICE $600
$3,500 $428
$500
$3,000
9
$402$2,593
$2,500 $400
Listings Sold $2,000 $300
39
Days On Market
$1,655
$1,500 $200
$1,000 $100 $500
$-
$-
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018
Median
Average
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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071