South Bay 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 El Segundo
Lomita
Gardena
Manhattan Beach
Hawthorne
North Redondo
Hermosa Beach
South Redondo
Lawndale
Torrance
RE/MAX Estate Properties 700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International
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.
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.
AVERAGE PRICE PER SQUARE FOOT:
Found by taking the price of each property and dividing that by its PROPERTIES PENDING SALE: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.
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.
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.
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 Torrance................................................................12
El Segundo JANUARY STATS Key Facts:
$1,420,000
Median Sold Price
$1,273,000
Average Sold Price
15
Jan. Jan. % 2017 2018 Change
Median Price
$890
$1,420
60%
Average Price Per Sq. Foot
$531
$604
14%
Properties for Sale
19
15 -21%
Properties Pending Sales
9
10 11%
Properties Sold
10
5 -50%
Days on Market (Sold Homes)
62
88 42%
Monthly Supply of Inventory
1.9
3 58%
Absorption Rate (closed sales) 52.6
Listings for Sale
10
Listings Pending
33.3 -37%
AVERAGE & MEDIAN PRICE $3,500 $1,600
$1,420
$3,000 $1,400
5
Listings Sold
$1,273
$2,593
$2,500 $1,200
$2,000 $1,000 $1,655
88
Days On Market
$800 $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
Gardena JANUARY STATS Key Facts:
$452,000
Median Sold Price
$473,000
Average Sold Price
36
Listings Pending
% Change
Median Price
$436
$452
4%
Average Price Per Sq. Foot
$329
$359
9%
Properties for Sale
43
36 -16%
Properties Pending Sales
42
37 -12%
Properties Sold
32
23 -28%
Days on Market (Sold Homes)
44
39 -11%
Monthly Supply of Inventory
1.3
1.6 23%
Absorption Rate (closed sales) 74.4
63.9 -14%
Listings for Sale
37
Jan. Jan. 2017 2018
AVERAGE & MEDIAN PRICE $3,500 $600
$473
$3,000 $500
23
Listings Sold
$452
$2,500
$2,593
$400
$2,000 $1,655
$300
39
Days On Market
$1,500 $200 $1,000
$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
Hawthorne JANUARY STATS Key Facts:
$575,000
Median Sold Price
$584,000
Average Sold Price
15
Jan. Jan. % 2017 2018 Change
Median Price
$580
$575
-1%
Average Price Per Sq. Foot
$429
$408
-5%
Properties for Sale
39
15 -62%
Properties Pending Sales
34
33 -3%
Properties Sold
21
21 0%
Days on Market (Sold Homes)
37
33 -11%
Monthly Supply of Inventory
1.9
0.7 -63%
Absorption Rate (closed sales) 53.8
140 160%
Listings for Sale
33
Listings Pending
AVERAGE & MEDIAN PRICE $800
$3,500 $700
$3,000
21
Listings Sold
$584 $575 $2,593
$600
$2,500 $500
$2,000 $1,655
$400
33
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
Hermosa Beach JANUARY STATS Key Facts:
$1,350,000
Median Sold Price
$2,095,000
Average Sold Price
44
Jan. Jan. 2017 2018
Median Price
$1,403
$1,350
-4%
$812
$950
17%
Average Price Per Sq. Foot Properties for Sale
41
44 7%
Properties Pending Sales
16
20 25%
Properties Sold
14
7 -50%
Days on Market (Sold Homes)
32
38 19%
Monthly Supply of Inventory
2.9
6.3 117%
Absorption Rate (closed sales) 34.1
15.9 -53%
Listings for Sale
20
Listings Pending
% Change
AVERAGE & MEDIAN PRICE $3,500
$3,500 $3,000
$3,000
7
Listings Sold
$2,500
$2,095
$2,500
$2,593
$2,000
$2,000 $1,655
38
Days On Market
$1,500 $1,500
$1,350
$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
Lawndale JANUARY STATS Key Facts:
$525,000
Median Sold Price
$578,000
Average Sold Price
8
Jan. Jan. % 2017 2018 Change
Median Price
$500
$525
5%
Average Price Per Sq. Foot
$361
$452
25%
Properties for Sale
15
8 -47%
Properties Pending Sales
16
15 -6%
Properties Sold
14
13 -7%
Days on Market (Sold Homes)
53
25 -53%
Monthly Supply of Inventory
1.1
0.6 -45%
Absorption Rate (closed sales) 93.3 162.5 74%
Listings for Sale
15
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$578
$700
$3,000 $600
13
Listings Sold
$525 $2,593
$2,500 $500
$2,000 $400
25
Days On Market
$1,655
$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
Lomita JANUARY STATS Key Facts:
$714,000
Median Sold Price
$676,000
Average Sold Price
9
Listings Pending
% Change
Median Price
$565
$714
26%
Average Price Per Sq. Foot
$381
$394
3%
Properties for Sale
21
9 -57%
Properties Pending Sales
14
18 29%
Properties Sold
11
10 -9%
Days on Market (Sold Homes)
49
21 -57%
Monthly Supply of Inventory
1.9
0.9 -53%
Absorption Rate (closed sales) 52.4 111.1 112%
Listings for Sale
18
Jan. Jan. 2017 2018
AVERAGE & MEDIAN PRICE $3,500 $800 $676
$3,000
$714
$700
10
Listings Sold
$2,593 $2,500 $600 $500 $2,000
$1,655
21
Days On Market
$400
$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
Manhattan Beach JANUARY STATS Key Facts:
$2,270,000
Median Sold Price
$2,593,000
Average Sold Price
55
Jan. Jan. % 2017 2018 Change
Median Price
$2,475
$2,270
-8%
Average Price Per Sq. Foot
$1,205
$1,140
-5%
Properties for Sale
76
55 -28%
Properties Pending Sales
33
25 -24%
Properties Sold
23
19 -17%
Days on Market (Sold Homes)
50
55 10%
Monthly Supply of Inventory
3.3
2.9 -12%
Absorption Rate (closed sales) 30.3 34.5 14%
Listings for Sale
25
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $4,000
$3,000
$3,500
19
Listings Sold
$2,593 $2,500 $3,000
$2,593
$2,500 $2,000
$2,270
$1,655
55
Days On Market
$2,000
$1,500
$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
Redondo Beach JANUARY STATS Key Facts:
$1,083,000
Median Sold Price
$1,085,000
Average Sold Price
59
Listings Pending
% Change
Median Price
$925
$1,083
17%
Average Price Per Sq. Foot
$545
$560
3%
Properties for Sale
84
59 -30%
Properties Pending Sales
47
53 13%
Properties Sold
35
44 26%
Days on Market (Sold Homes)
47
51 9%
Monthly Supply of Inventory
2.4
1.3 -46%
Absorption Rate (closed sales) 41.7
74.6 79%
Listings for Sale
53
Jan. Jan. 2017 2018
AVERAGE & MEDIAN PRICE $3,500 $1,400
$3,000 $1,200
44
Listings Sold
$1,085 $2,593 $1,083
$2,500 $1,000
$2,000 $800
51
Days On Market
$1,655
$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
Torrance JANUARY STATS Key Facts:
$755,000
Median Sold Price
$811,000
Average Sold Price
61
Median Price
$783
$755
-4%
Average Price Per Sq. Foot
$529
$509
-4%
Properties for Sale
71
61 -14%
Properties Pending Sales
68
70 3%
Properties Sold
62
53 -15%
Days on Market (Sold Homes)
35
34 -3%
Monthly Supply of Inventory
1.1
1.2 9%
Absorption Rate (closed sales) 87.3 86.9 0%
Listings for Sale
70
Listings Pending
Jan. Jan. % 2017 2018 Change
AVERAGE & MEDIAN PRICE $3,500 $1,000
$3,000 $900
53
Listings Sold
$808
$2,593
$800
$755
$2,500
$700
$2,000 $600
34
Days On Market
$1,655
$500
$1,500
$400
$1,000
$300
$200 $500 $100
$-
$Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017
Median
Average
RE/MAX Estate Properties • 700+ Local Agents • 17 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064
HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254
SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG EL ES | SOUT H BAY| www.REMAXC IR.com
LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071
SOUTH BAY 23001 Hawthorne Blvd., Suite 205 Torrance, CA 90505
CONNECT WITH US .................................................................. www.facebook.com/lynnandlesley www.youtube.com/user/lesleylevinsiegel Yelp! https://tinyurl.com/y7b8z29o www.linkedin.com/in/lesleysiegel www.linkedin.com/in/lynn-peters www.zillow.com/profile/Lynn-and-Lesley
LynnAndLesley.com
Info@LynnAndLesley.com
Lic# 01320138
Lic#01324071
Notes:
Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071