South Bay Market Intelligence Report Vol. 4 | November 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 • 16 Offices • Luxury Residential Commercial Investment Division • International
Gary E. LaTourette
Real Estate Consultant DRE# 01424026
Cell: 310.503.7408 Office: 310.378.9494
GaryLT@remaxpv.com | Search the MLS at GaryLT.com
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 Nov. 2018 are based on data available at the end of Oct. 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 OCTOBER Stats Key Facts:
$1,625,000
Median Sold Price
$1,549,000
Average Sold Price
31
OCT. OCT. % 2017 2018 Change
Median Price
$1,050
$1,625
55%
$678
$670
-1%
Average Price Per Sq. Foot Properties for Sale
19
31 63%
Properties Pending Sales
11
7 -36%
Properties Sold
15
7 -53%
Days on Market (Sold Homes)
45
41 -9%
Monthly Supply of Inventory
1.3
4.4 238%
Absorption Rate (closed sales) 78.9 22.6 -71%
Listings for Sale
7
Listings Pending
Average & Median Price $1,800 $3,500
$1,625 $1,549
$1,600
$3,000
$1,400
7
Listings Sold
$2,593
$2,500
$1,200
$2,000 $1,000 $1,655
41
Days On Market
$800
$1,500
$600
$1,000 $400
$500 $200 $- $-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Gardena OCTOBER Stats Key Facts:
$570,000
Median Sold Price
$545,000
Average Sold Price
53
OCT. 2017
Listings Pending
$510
$570
12%
Average Price Per Sq. Foot
$400
$388
-3%
Properties for Sale
53
53 0%
Properties Pending Sales
39
31 -21%
Properties Sold
39
41 5%
Days on Market (Sold Homes) 33
20 -39%
Monthly Supply of Inventory
1.3 -7%
1.4
Absorption Rate (closed sales) 73.6 77.4 5%
Average & Median Price $3,500 $700 $545
$3,000 $600
41
% Change
Median Price
Listings for Sale
31
OCT. 2018
$570
$2,593 $500 $2,500
Listings Sold $400 $2,000
$1,655
20
Days On Market
$300 $1,500 $200 $1,000 $100 $500
$-
$Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Hawthorne OCTOBER Stats Key Facts:
$655,000
Median Sold Price
$662,000
Average Sold Price
36
OCT. OCT. % 2017 2018 Change
Median Price
$588
$655
11%
Average Price Per Sq. Foot
$429
$513
20%
Properties for Sale
39
36 -8%
Properties Pending Sales
26
24 -8%
Properties Sold
46
31 -33%
Days on Market (Sold Homes)
25
22 -12%
Monthly Supply of Inventory
0.8
1.2 50%
Absorption Rate (closed sales) 117.9
86.1 -27%
Listings for Sale
24
Listings Pending
Average & Median Price $800
$3,500
$662
$700
$655
$3,000
31
Listings Sold
$600
$2,593
$2,500 $500
$2,000 $400
22
Days On Market
$1,655
$1,500
$300
$1,000
$200
$500 $100 $- $-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Hermosa Beach OCTOBER Stats Key Facts:
$1,550,000 Median Sold Price
$2,301,000
Average Sold Price
60
OCT. 2017
OCT. 2018
% Change
Median Price
$1,401
$1,550
11%
Average Price Per Sq. Foot
$1,043
$1,130
8%
Properties for Sale
40
60 50%
Properties Pending Sales
22
13 -41%
Properties Sold
18
18 0%
Days on Market (Sold Homes) 57
45 -21%
Monthly Supply of Inventory
2.2
3.3 50%
Absorption Rate (closed sales) 45
30 -33%
Listings for Sale
13
Listings Pending
Average & Median Price $3,500
$3,500 $3,000
$3,000
18
Listings Sold
$2,301
$2,500
$2,593
$2,500 $2,000
$2,000 $1,550 $1,655
$1,500
45
Days On Market
$1,500 $1,000
$1,000
$500
$500
$-$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Lawndale OCTOBER Stats Key Facts:
$493,000
Median Sold Price
$524,000
Average Sold Price
24
Median Price
$513
$493
-4%
Average Price Per Sq. Foot
$400
$389
-3%
Properties for Sale
14
24 71%
Properties Pending Sales
18
10 -44%
Properties Sold
16
10 -38%
Days on Market (Sold Homes)
46
41 -11%
Monthly Supply of Inventory
0.9
2.4 167%
Absorption Rate (closed sales) 114.3
41.7 -64%
Listings for Sale
10
Listings Pending
OCT. OCT. % 2017 2018 Change
Average & Median Price $3,500
$700 $524
$3,000
$600
10
Listings Sold
$2,593
$493
$2,500
$500
$2,000 $400 $1,655
41
Days On Market
$1,500 $300 $1,000 $200 $100 $500
$-$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Lomita OCTOBER Stats Key Facts:
$625,000 Median Sold Price
$620,000
Average Sold Price
28
OCT. 2017
Listings Pending
$573
$625
9%
Average Price Per Sq. Foot
$384
$397
3%
Properties for Sale
16
28 75%
Properties Pending Sales
15
10 -33%
Properties Sold
14
15 7%
Days on Market (Sold Homes) 24
35 46%
Monthly Supply of Inventory
1.1
1.9 73%
Absorption Rate (closed sales) 87.5
53.6 -39%
Average & Median Price $3,500
$800
$3,000 $700
15
Listings Sold
% Change
Median Price
Listings for Sale
10
OCT. 2018
$620
$625
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
35
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $-
$Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Manhattan Beach OCTOBER Stats Key Facts:
$2,715,000
Median Sold Price
$3,220,000
Average Sold Price
106
OCT. OCT. % 2017 2018 Change
Median Price
$3,188
$2,715
-15%
Average Price Per Sq. Foot
$1,105
$1,127
2%
Properties for Sale
93
106 14%
Properties Pending Sales
37
31 -16%
Properties Sold
26
34 31%
Days on Market (Sold Homes)
75
45 -40%
Monthly Supply of Inventory
3.6
3.1 -14%
Absorption Rate (closed sales)
28
32.1 15%
Listings for Sale
31
Listings Pending
Average & Median Price $3,500
$3,500 $2,902
$3,000
$3,000
34
Listings Sold
$2,593 $2,500
$2,400
$2,500
$2,000 $2,000
45
Days On Market
$1,655
$1,500 $1,500 $1,000 $1,000 $500 $500
$-$-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Redondo Beach OCTOBER Stats Key Facts:
OCT. 2017
OCT. 2018
$1,063
$1,018
-4%
Average Price Per Sq. Foot
$573
$570
-1%
Properties for Sale
110
145 32%
Properties Pending Sales
75
60 -20%
Properties Sold
62
66 6%
Days on Market (Sold Homes) 31
32 3%
Monthly Supply of Inventory
2.2 22%
Median Price
$1,018,000 Median Sold Price
$1,065,000
Average Sold Price
145
Absorption Rate (closed sales) 56.4 45.5 -19%
Listings for Sale
60
Listings Pending
1.8
% Change
Average & Median Price $3,500 $1,400
$3,000
$1,200
66
Listings Sold
$1,065
$2,593
$1,018
$2,500
$1,000
$2,000
$800
32
Days On Market
$1,655
$1,500 $600 $1,000 $400 $200 $500
$- $-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
Torrance OCTOBER Stats Key Facts:
$790,000
Median Sold Price
$835,000
Average Sold Price
133
Median Price
$792
$790
0%
Average Price Per Sq. Foot
$503
$491
-2%
Properties for Sale
86
133 55%
Properties Pending Sales
84
87 4%
Properties Sold
95
97 2%
Days on Market (Sold Homes)
30 32 7%
Monthly Supply of Inventory
0.9
1.4 56%
Absorption Rate (closed sales) 110.5
72.9 -34%
Listings for Sale
87
Listings Pending
OCT. OCT. % 2017 2018 Change
Average & Median Price $3,500 $1,400 $3,000 $1,200
97
$2,593 $1,000 $2,500 $835
Listings Sold
$790
$800 $2,000
$1,655
32
Days On Market
$600 $1,500
$400 $1,000
$200 $500
$- $-
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Median
Average
RE/MAX Estate Properties • 650+ Local Agents • 16 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
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
Notes:
Notes:
Gary E. LaTourette Cell: 310.503.7408 Office: 310.378.9494 GaryLT@remaxpv.com | Search the MLS at GaryLT.com
DRE#01424026
Real Estate Consultant