Lynn Peters & Lesley Siegel February 2018 Market Report South Bay

Page 1

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


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