South Bay Market Intelligence Report Vol. 4 | January 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 RE/MAX Estate Properties LynnAndLesley.com 213-394-2464 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 January 2018 are based on data available at the end of December 2017. 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 December Stats Key Facts:
$1,000,000 Median Sold Price
$1,030,000
Average Sold Price
12
Dec. Dec. % 2016 2017 Change
Median Price
$998
$1,000
0%
Average Price Per Sq. Foot
$650
$583
-10%
Properties for Sale
10
12 20%
Properties Pending Sales
6
3 -50%
Properties Sold
14
11 -21%
Days on Market (Sold Homes)
57
58 2%
Monthly Supply of Inventory
0.7
1.1 57%
Absorption Rate (closed sales) 140
Listings for Sale
3
Listings Pending
91.7 -35%
Average & Median Price $3,500 $1,400
$3,000
11
Listings Sold
$1,200 $1,030
$2,500
$2,593
$1,000
$1,000
$2,000 $1,655
$800
58
Days On Market
$1,500 $600
$1,000 $400
$500
$200
$-
$-
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
Gardena December Stats Key Facts:
$520,000 Median Sold Price
$492,000
Average Sold Price
42
Listings Pending
% Change
Median Price
$465
$520
12%
Average Price Per Sq. Foot
$323
$382
18%
Properties for Sale
45
42 -7%
Properties Pending Sales
26
26 0%
Properties Sold
52
43 -17%
Days on Market (Sold Homes)
40
34 -15%
Monthly Supply of Inventory
0.9 1 11%
Absorption Rate (closed sales) 115.6 102.4 -11%
Listings for Sale
26
Dec. Dec. 2016 2017
Average & Median Price $3,500 $600
$492
$3,000
$520
$500
43
Listings Sold
$2,593
$2,500 $400
$2,000 $1,655 $300
34
Days On Market
$1,500 $200 $1,000
$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
Hawthorne December Stats Key Facts:
$588,000 Median Sold Price
$620,000
Average Sold Price
22
Dec. Dec. % 2016 2017 Change
Median Price
$680
$588
-14%
Average Price Per Sq. Foot
$425
$418
-2%
Properties for Sale
37
22 -41%
Properties Pending Sales
14
23 64%
Properties Sold
23
28 22%
Days on Market (Sold Homes)
48
34 -29%
Monthly Supply of Inventory
1.6
0.8 -50%
Absorption Rate (closed sales) 62.2
127.3 105%
Listings for Sale
23
Listings Pending
Average & Median Price $800
$3,500 $700
$620
$3,000
28
Listings Sold
$588 $2,593
$600
$2,500 $500
$2,000 $1,655
$400
34
Days On Market
$1,500 $300
$1,000 $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
Hermosa Beach December Stats Key Facts:
$2,145,000 Median Sold Price
$2,919,000
Average Sold Price
24
Dec. Dec. 2016 2017
Median Price
$1,535
$2,145
40%
Average Price Per Sq. Foot
$910
$1,459
60%
Properties for Sale
40
24 -40%
Properties Pending Sales
7
10 43%
Properties Sold
14
15 7%
Days on Market (Sold Homes)
41
37 -10%
Monthly Supply of Inventory
2.9
1.6 -45%
Absorption Rate (closed sales)
35
62.5 79%
Listings for Sale
10
Listings Pending
% Change
Average & Median Price $3,500 $2,919
$3,500 $3,000
$3,000
15
Listings Sold
$2,593
$2,500
$2,500
$2,145
$2,000
$2,000 $1,655
37
Days On Market
$1,500 $1,500
$1,000 $1,000
$500
$500
$-
$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
Lawndale December Stats Key Facts:
$448,000 Median Sold Price
$450,000
Average Sold Price
Dec. Dec. % 2016 2017 Change
Median Price
$523
$448
-14%
Average Price Per Sq. Foot
$420
$386
-8%
Properties for Sale
12
6 -50%
Properties Pending Sales
7
13 86%
Properties Sold
6
8 33%
Days on Market (Sold Homes)
44
37 -16%
2
0.8 -60%
50
133.3 167%
Monthly Supply of Inventory
6
Absorption Rate (closed sales)
Listings for Sale
13
Listings Pending
Average & Median Price $3,500 $700
$3,000 $600
8
Listings Sold
$450
$2,593
$2,500 $500
$448
$2,000 $400
37
Days On Market
$1,655
$1,500 $300
$1,000 $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
Lomita December Stats Key Facts:
$589,000 Median Sold Price
$586,000
Average Sold Price
9
Listings Pending
$525
$589
12%
Average Price Per Sq. Foot
$373
$399
7%
Properties for Sale
23
9 -61%
Properties Pending Sales
11
8 -27%
Properties Sold
14
11 -21%
Days on Market (Sold Homes)
34
40 18%
Monthly Supply of Inventory
1.6
0.8 -50%
Absorption Rate (closed sales) 60.9 122.2 101%
Average & Median Price $3,500 $700 $586
$3,000 $600
11
Listings Sold
% Change
Median Price
Listings for Sale
8
Dec. Dec. 2016 2017
$589
$2,593 $2,500 $500
$2,000
$400
40
Days On Market
$1,655
$1,500
$300
$1,000
$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
Manhattan Beach December Stats Key Facts:
$2,281,000
Median Sold Price
$2,823,000
Average Sold Price
42
Dec. Dec. % 2016 2017 Change
Median Price
$1,788
$2,281
28%
Average Price Per Sq. Foot
$836
$1,047
25%
Properties for Sale
73
42 -42%
Properties Pending Sales
13
29 123%
Properties Sold
24
28 17%
Days on Market (Sold Homes)
36
67 86%
Monthly Supply of Inventory
3
1.5 -50%
Absorption Rate (closed sales) 32.9
66.7 103%
Listings for Sale
29
Listings Pending
Average & Median Price $3,500
$4,000
$3,000 $3,500
28
Listings Sold
$2,823 $2,593 $3,000 $2,500 $2,500
$2,281
$2,000
$1,655
$2,000
67
Days On Market
$1,500 $1,500
$1,000 $1,000
$500
$500
$-
$-
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
Redondo Beach December Stats Key Facts:
$1,020,000
Median Sold Price
$1,152,000
Average Sold Price
53
Listings Pending
$932
$1,020
9%
Average Price Per Sq. Foot
$528
$582
10%
Properties for Sale
68
53 -22%
Properties Pending Sales
37
54 46%
Properties Sold
78
61 -22%
Days on Market (Sold Homes)
39
40 3%
Monthly Supply of Inventory
0.9 0.9 0%
Absorption Rate (closed sales) 114.7 115.1 0%
Average & Median Price $3,500 $1,400
$3,000
$1,152
$1,200
61
Listings Sold
% Change
Median Price
Listings for Sale
54
Dec. Dec. 2016 2017
$2,593
$2,500
$1,020
$1,000
$2,000 $800
40
Days On Market
$1,655
$1,500 $600
$1,000 $400
$500
$200
$-
$-
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
Torrance December Stats Key Facts:
$755,000
Median Sold Price
$808,000
Average Sold Price
50
Median Price
$735
$755
3%
Average Price Per Sq. Foot
$467
$525
12%
Properties for Sale
62
50 -19%
Properties Pending Sales
62
50 -19%
Properties Sold
87
91 5%
Days on Market (Sold Homes)
34
26 -24%
Monthly Supply of Inventory
0.7
0.5 -29%
Absorption Rate (closed sales) 140.3 182 30%
Listings for Sale
50
Listings Pending
Dec. Dec. % 2016 2017 Change
Average & Median Price $3,500 $1,000
$3,000 $900
91
Listings Sold
$808
$2,593
$800
$755
$2,500
$700
$2,000 $600
26
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 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401
HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254 SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
EL SEGUNDO 402 Main Street El Segundo, CA 90245
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275
MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG ELES | 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
LynnPetersRE@hotmail.com
310.291-1191
213-394-2464
RE/MAX Estate Properties
Lesley@LesleySiegel.com
310.418.4235
Lic# 01320138
Lic#01324071
Lynn Peters & Lesley Siegel RE/MAX Estate Properties LynnAndLesley.com 213-394-2464 Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071