Vol. 5 | August 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
Marilyn Cristiano Budde (310) 977-7932
marilyncristianobudde@cox.net www.marilyncristianobudde.com LIC# 00580324
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 Aug. 2019 are based on data available at the end of July 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 JULY STATS Key Facts:
$1,930,000
Median Sold Price
$2,466,000
Average Sold Price
100
July July % 2018 2019 Change
Median Price (in $,000)
$1,742
$1,930
11%
Average Price Per Sq. Foot
$708
$687
-3%
Properties for Sale
57
100 75%
Properties Pending Sales
11
20 82%
Properties Sold
24
27 13%
Days on Market (Sold Homes)
39
71 82%
Monthly Supply of Inventory
2.4
3.7 54%
Absorption Rate (closed sales) 42.1
27 -36%
Listings for Sale
20
Listings Pending
AVERAGE & MEDIAN PRICE $8,000 $3,500 $7,000
$3,000
27
Listings Sold
$2,593
$6,000
$2,500 $5,000
$2,000 $4,000
71
Days On Market
$1,655
$1,500
$2,466
$3,000
$1,930
$1,000
$2,000
$500 $1,000 $-$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rancho Palos Verdes JULY STATS Key Facts:
July 2018
July 2019
$1,229
$1,225
0%
Average Price Per Sq. Foot
$611
$603
-1%
Properties for Sale
131
150 15%
Properties Pending Sales
39
52 33%
Properties Sold
43
49 14%
Days on Market (Sold Homes) 24
42 75%
Monthly Supply of Inventory
3.1 3%
Median Price (in $,000)
$1,225,000 Median Sold Price
$1,362,000
Average Sold Price
150
Absorption Rate (closed sales) 32.8 32.7 0%
Listings for Sale
52
Listings Pending
3
AVERAGE & MEDIAN PRICE $1,800 $3,500 $1,600
$3,000
49
Listings Sold
% Change
$1,362
$1,400
$2,593 $1,225
$2,500
$1,200
$2,000 $1,000 $1,655
42
Days On Market
$800
$1,500
$600
$1,000 $400
$500
$200
$- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rolling Hills JULY STATS Key Facts:
$3,625,000
Median Sold Price
$3,625,000
Average Sold Price
19
Median Price (in $,000)
$-
$3,625
--
Average Price Per Sq. Foot
$-
$659
--
Properties for Sale
35
19 -46%
Properties Pending Sales
1
0 -100%
Properties Sold
0 1 --
Days on Market (Sold Homes)
0 117 --
Monthly Supply of Inventory
35
Absorption Rate (closed sales)
0 5.3 --
Listings for Sale
0
Listings Pending
July July % 2018 2019 Change
19 -46%
AVERAGE & MEDIAN PRICE $18,000
$3,500
$16,000
$3,000 $14,000
1
Listings Sold
$2,593 $2,500 $12,000 $10,000 $2,000
$1,655
$8,000
117
Days On Market
$1,500 $6,000
$3,625
$1,000
$3,625
$4,000
$2,000 $500
$-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rolling Hills Estates JULY STATS Key Facts:
$1,189,000 Median Sold Price
$1,220,000
Average Sold Price
38
July 2018
Listings Pending
% Change
Median Price (in $,000)
$925
$1,189
29%
Average Price Per Sq. Foot
$588
$620
5%
Properties for Sale
25
38 52%
Properties Pending Sales
12
19 58%
Properties Sold
12
11 -8%
Days on Market (Sold Homes) 35
24 -31%
Monthly Supply of Inventory
3.5 67%
2.1
Absorption Rate (closed sales) 48
Listings for Sale
19
July 2019
28.9 -40%
AVERAGE & MEDIAN PRICE $2,500 $3,500
$3,000 $2,000
11
Listings Sold
$2,593
$2,500 $1,500
$2,000
24
Days On Market
$1,220
$1,189 $1,655
$1,500 $1,000 $1,000 $500
$500
$-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
San Pedro JULY STATS Key Facts:
$557,000
Median Sold Price
$580,000
Average Sold Price
111
Median Price (in $,000)
$567
$557
-2%
Average Price Per Sq. Foot
$395
$449
14%
Properties for Sale
88
111 26%
Properties Pending Sales
59
56 -5%
Properties Sold
60
66 10%
Days on Market (Sold Homes)
28
30 7%
Monthly Supply of Inventory
1.5
1.7 13%
Absorption Rate (closed sales) 68.2 59.5 -13%
Listings for Sale
56
Listings Pending
July July % 2018 2019 Change
AVERAGE & MEDIAN PRICE $3,500 $700 $580
$3,000
$600
66
Listings Sold
$557
$2,593
$2,500
$500
$2,000
$400
30
Days On Market
$1,655
$1,500 $300 $1,000 $200 $100 $500
$-$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Wilmington JULY STATS Key Facts:
$463,000 Median Sold Price
$454,000
Average Sold Price
17
July 2018
July 2019
Median Price (in $,000)
$425
$463
9%
Average Price Per Sq. Foot
$366
$384
5%
Properties for Sale
21
17 -19%
Properties Pending Sales
11
13 18%
Properties Sold
11
18 64%
Days on Market (Sold Homes) 45
24 -47%
Monthly Supply of Inventory
1.9
0.9 -53%
Absorption Rate (closed sales) 52.4
105.9 102%
Listings for Sale
13
Listings Pending
AVERAGE & MEDIAN PRICE $600 $3,500
$3,000 $500
18
Listings Sold
% Change
$454
$463
$2,593 $2,500
$400
$2,000 $1,655
$300
24
Days On Market
$1,500 $200
$1,000 $100
$500
$-$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Harbor City JULY STATS Key Facts:
$540,000
Median Sold Price
$576,000
Average Sold Price
38
July July % 2018 2019 Change
Median Price (in $,000)
$460
$540
17%
Average Price Per Sq. Foot
$356
$342
-4%
Properties for Sale
21
38 81%
Properties Pending Sales
21
14 -33%
Properties Sold
13
17 31%
Days on Market (Sold Homes)
32
23 -28%
Monthly Supply of Inventory
1.6
2.2 38%
Absorption Rate (closed sales) 61.9
44.7 -28%
Listings for Sale
14
Listings Pending
AVERAGE & MEDIAN PRICE $700
$576
$3,500 $600
$3,000
17
Listings Sold
$540
$2,593
$500
$2,500
$400
$2,000
$1,655 $300
23
Days On Market
$1,500
$200
$1,000
$100
$500
$-
$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 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
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
Marilyn Cristiano Budde (310) 977-7932
marilyncristianobudde@cox.net www.marilyncristianobudde.com LIC# 00580324