Vol. III Dec 2017
The SouthBay Market Intelligence Report
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 report covers Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo, Torrance, Hawthorne, Gardena, Lawndale and Lomita.
JOE BUCK REALTORÂŽ 310.995.1195 joebuck@southbayresidential.com CalBRE # 01995305
700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 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 Phone: 310.577.5300 EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700 HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200
SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999 Silicon BEACH WESTCHESTER 7131 W. Manchester Ave. Los Angeles, CA 90045 Phone: 310.802.6000
Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. This Market Intelligence Report monitors
El Segundo
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.
Gardena Hawthorne
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.
Hermosa Beach Lawndale Lomita Manhattan Beach
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.
Redondo Beach
Absorption rate (closed sales):
Torrance
Report Notes:
This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.
Reports published in December 2017 are based on data available at the end of November 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.
Photography courtesy of Brian Holm, AvenueEye.com
El Segundo November Stats
$1,238,000
Median Sold Price
$1,228,000 Average Sold Price
11 Listings for Sale
Year Over Year
Nov. Nov. 2016 2017
Median Price
$832
$1,238
49%
Average Price Per Sq. Foot
$588
$678
15%
% Change
Properties for Sale
17
11 -35%
Properties Pending Sales
12
9 -25%
Properties Sold
13
12 -8%
Days on Market (Sold Homes)
16
20 25%
Monthly Supply of Inventory
1.3
0.9 -31%
Absorption Rate (closed sales)
76.5 109.1 43%
Avg. & Median Price by Month
9 Listings Pending
$3,500 $1,400
$1,228
$1,238
$3,000 $1,200 $2,593 $2,500 $1,000
12 Listings Sold
20
$2,000 $800 $1,655 $1,500 $600
$400 $1,000 $200 $500 $-$-
Days On Market Median
Average
Gardena November Stats Year Over Year
Nov. Nov. 2016 2017
% Change
Median Price
$505
$535
6%
Average Price Per Sq. Foot
$369
$379
3%
Properties for Sale
58
45 -22%
Properties Pending Sales
41
48 17%
Properties Sold
33
39 18%
Days on Market (Sold Homes)
30
35 17%
Monthly Supply of Inventory
1.8
1.2 -33%
Absorption Rate (closed sales)
56.9
86.7 52%
$535,000
Median Sold Price
$504,000
Average Sold Price
45 Listings for Sale
Avg. & Median Price by Month $3,500 $600
$504
48
$535
$3,000 $500 $2,593
Listings Pending
$2,500 $400 $2,000 $1,655
$300 $1,500
39 Listings Sold
$200 $1,000 $100 $500
35
$- $-
Days On Market Median
Average
Hawthorne November Stats
$605,000
Median Sold Price
$627,000 Average Sold Price
32 Listings for Sale
Year Over Year
Nov. Nov. 2016 2017
% Change
Median Price
$582
$605
4%
Average Price Per Sq. Foot
$421
$412
-2%
Properties for Sale
46
32 -30%
Properties Pending Sales
30
36 20%
Properties Sold
36
27 -25%
Days on Market (Sold Homes)
19
40 111%
Monthly Supply of Inventory
1.3
1.2 -8%
Absorption Rate (closed sales)
78.3 84.4 8%
Avg. & Median Price by Month
36 Listings Pending
$3,500$800
$700 $3,000
$627 $605
$600 $2,500
$2,593
$500
27 Listings Sold
40
$2,000 $400
$1,655
$1,500 $300 $1,000$200 $500$100
$-
$-
Days On Market Median
Average
Hermosa Beach November Stats Year Over Year
Nov. Nov. 2016 2017
Median Price Average Price Per Sq. Foot
% Change
$1,450
$1,600
10%
$968
$851
-12%
Properties for Sale
45
34 -24%
Properties Pending Sales
14
13 -7%
Properties Sold
16
18 13%
Days on Market (Sold Homes)
44
26 -41%
Monthly Supply of Inventory
2.8
1.9 -32%
Absorption Rate (closed sales) 35.6
52.9 49%
$3,500
$1,600,000 Median Sold Price
$1,626,000 Average Sold Price
34 Listings for Sale
Avg. & Median Price by Month
13
$3,500 $3,000 $3,000
$2,500
$2,593
Listings Pending
$2,500
$1,626
$2,000 $2,000
$1,600 $1,655
$1,500 $1,500
18 Listings Sold
$1,000 $1,000 $500 $500
26
$- $-
Days On Market Median
Average
Lawndale November Stats
$525,000
Median Sold Price
$524,000
Average Sold Price
13 Listings for Sale
Year Over Year
Nov. Nov. 2016 2017
% Change
Median Price
$393
$525
34%
Average Price Per Sq. Foot
$325
$370
14%
Properties for Sale
17
13 -24%
Properties Pending Sales
6
11 83%
Properties Sold
4
17 325%
Days on Market (Sold Homes)
49
36 -27%
Monthly Supply of Inventory
4.3
0.8 -81%
Absorption Rate (closed sales)
23.5
130.8 457%
Avg. & Median Price by Month
11 Listings Pending
$3,500 $700
$524 $3,000 $600
$525 $2,593
$2,500 $500
17 Listings Sold
36
$2,000 $400 $1,655
$300 $1,500 $200 $1,000 $100 $500 $- $-
Days On Market Median
Average
Lomita November Stats Year Over Year
Nov. Nov. 2016 2017
% Change
Median Price
$473
$603
27%
Average Price Per Sq. Foot
$336
$390
16%
Properties for Sale
25
12 -52%
Properties Pending Sales
11
14 27%
Properties Sold
6
9 50%
Days on Market (Sold Homes)
55
25 -55%
Monthly Supply of Inventory
4.2
1.3 -69%
Absorption Rate (closed sales)
24
75 213%
$603,000
Median Sold Price
$573,000 Average Sold Price
12 Listings for Sale
Avg. & Median Price by Month $3,500 $700
$573
$3,000 $600
$603 $2,593
14 Listings Pending
$2,500 $500 $2,000 $400
$1,655
$1,500 $300
9 Listings Sold
$1,000 $200
$100 $500
25
$- $-
Days On Market Median
Average
Manhattan Beach November Stats
$2,400,000
Median Sold Price
Year Over Year
Nov. Nov. 2016 2017
Median Price Average Price Per Sq. Foot
$2,909,000 Average Sold Price
70 Listings for Sale
% Change
$1,900
$2,400
26%
$855
$1,062
24%
Properties for Sale
80
70 -13%
Properties Pending Sales
24
33 38%
Properties Sold
33
35 6%
Days on Market (Sold Homes)
45
63 40%
Monthly Supply of Inventory
2.4
2 -17%
Absorption Rate (closed sales)
41.3 50 21%
Avg. & Median Price by Month
33 Listings Pending
35 Listings Sold
63
$3,500 $4,000 $3,000 $3,500
$2,909 $2,593
$3,000 $2,500
$2,400
$2,500 $2,000
$1,655
$2,000 $1,500 $1,500 $1,000 $1,000 $500 $500
$$-
Days On Market Median
Average
Redondo Beach November Stats Year Over Year
Nov. Nov. 2016 2017
% Change
Median Price
$899
$945
5%
Average Price Per Sq. Foot
$548
$572
4%
Properties for Sale
71
84 18%
Properties Pending Sales
52
64 23%
Properties Sold
67
65 -3%
Days on Market (Sold Homes)
49
26 -47%
Monthly Supply of Inventory
1.1
1.3 18%
Absorption Rate (closed sales)
94.4
77.4 -18%
$945,000
Median Sold Price
$1,151,000 Average Sold Price
84 Listings for Sale
Avg. & Median Price by Month
64
$3,500
$1,400 $3,000 $1,200
$1,151 $2,593
$2,500 $1,000
Listings Pending
$945
$2,000 $800
$1,655
$1,500 $600
65 Listings Sold
$1,000 $400
$200 $500
26
$- $-
Days On Market Median
Average
Torrance November Stats
$783,000
Median Sold Price
$812,000
Average Sold Price
64 Listings for Sale
Year Over Year
Nov. Nov. 2016 2017
% Change
Median Price
$682
$783
15%
Average Price Per Sq. Foot
$453
$509
12%
Properties for Sale
88
64 -27%
Properties Pending Sales
79
83 5%
Properties Sold
91
89 -2%
Days on Market (Sold Homes)
33
28 -15%
Monthly Supply of Inventory
1
0.7 -30%
Absorption Rate (closed sales) 103.4 139.1 35%
Avg. & Median Price by Month
83 Listings Pending
$1,000 $3,500 $900 $3,000 $800
$812 $783 $2,593
$2,500 $700
89 Listings Sold
$600 $2,000 $1,655
$500 $1,500 $400
$300 $1,000 $200
28
$500 $100 $- $-
Days On Market Median
Average
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© 2015-17 RE/MAX Estate Properties
JOE BUCK REALTOR® 310.995.1195 joebuck@southbayresidential.com CalBRE # 01995305