Anthony Todora Market Intelligence Report South Bay

SOUTH BAY

Market MarketIntelligence IntelligenceReport Report

Volume8 8| November | October 2022 Volume 2022

Anthony Todora, GRI

RE/MAX Estate Properties Branch Manager

Cell: 310.738.6775 Office: 310.427.3369 Email: atodora1@yahoo.com www.TheTodoraTeam.com

5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Lic# 00878016

SOUTH BAY MARKETS Carson

4

El Segundo

6

Gardena

8

Hawthorne

10

Hermosa Beach

12

Hollywood Riviera

14

Lawndale

16

Lomita

18

Manhattan Beach

20

Redondo Beach

22

Torrance

24

REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.

PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.

PROPERTIES FOR SALE: The total number of available properties for sale.

DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.

SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from the previous month exceed current inventory.

The South Bay Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.

CARSON Located just 13 miles south of downtown Los Angeles, Carson is the newest incorporated city in the South Bay region. Carson is home to California State University, Dominguez Hills. With more than 120 acres of green space dedicated to outdoor recreation and an expansive sports complex for soccer, tennis, and track and field, Carson offers plentiful opportunities to soak in the California sunshine.

Bordered by West Rancho Dominguez, Compton, Rancho Dominguez, and Long Beach, Carson residents enjoy close proximity to South Bay beaches and industrial and tech hubs while offering a warm and inviting suburban lifestyle.

ATTRACTIONS •

Carson Park

•

Dignity Health Sports Park

•

International Printing Museum

RESTAURANTS •

Gnome Village

•

Rosario's Italian Restaurant

•

Darrow's New Orleans Grill

•

Go Kart World

•

Chinollo

•

Back Home in Lahaina

•

Anderson Park

•

Hiccups Tea House

•

Orleans & York Deli

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

87

35

$699K

8

$496

40%

60

45

$715K

10

$460

75%

+45%

-22%

-2%

-20%

+8%

-46%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $715,000

60

45

Oct-21

$720,000

49

43

Nov-21

$720,500

40

40

Dec-21

$726,000

44

$705,000

58 37

Jan-22

$776,944

53

52

$737,500

59

48

Mar-22

Apr-22

$830,000

37

May-22

$795,900

86

84

70

28

Feb-22

$790,000

33

Jun-22

$747,500

Jul-22

44

Aug-22

$699,000

87

78

74 32

$677,500

34

Sep-22

35

Oct-22

EL SEGUNDO If beachside living and small-town charm with a growing community of businesses sound appealing, look no further than El Segundo.

This hidden beachside gem is quickly becoming an economic powerhouse. With the Los Angeles Airport (LAX) right next door and easy connections to major freeways and metro stops, local and global travel is a breeze. Recognized as the aerospace capital of the world, this community is home to leaders in aerospace and defense, bioscience, information technology, energy, and creative media.

El Segundo also offers thriving cultural experiences in sports, culture, fine dining, and more.

ATTRACTIONS

RESTAURANTS •

•

Dockweiler Beach

•

R6 Distillery

•

Old Town Music Hall

•

Automobile Driving Museum •

•

The Lakes at El Segundo

•

El Segundo Parks & Rec

•

Jame Enoteca

•

Britt's BBQ

Ali'i Fish Company

•

Ensenada's Surf & Turf

Caló Kitchen + Tequila

•

Salt Creek Grille

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

14

12

$1.59M

27

$1,013

86%

21

7

$925K

13

$724

33%

-33%

+71%

+72%

+108%

+40%

+157%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $2,052,500

$1,890,000 $1,700,000

$1,700,000 $1,505,000

$1,170,000 $925,000

$1,592,500

$1,530,000 $1,300,000

$1,143,000

$1,100,000 $720,000

72

21 7 Oct-21

14

20

Nov-21

14

9

Dec-21

9

9

Jan-22

12

9

Feb-22

20

11

Mar-22

16

13

Apr-22

16

20

May-22

18

24 8

Jun-22

31

15

11

Jul-22

Aug-22

9

Sep-22

14

12

Oct-22

GARDENA Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes from downtown Los Angeles and 20 minutes from Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without its own activities, Gardena has several parks, enticing restaurants, two card rooms, and more. Between the city and Torrance to the south, there are many opportunities for employment in industrial industries. Gardena also boasts easy freeway access to the 110, 105, and 405; residents are able to travel, and explore all that Los Angeles has to offer.

ATTRACTIONS

RESTAURANTS

•

Rowley Memorial Park

•

Arthur Lee Johnson Park

•

Spoon House Bakery

•

Jin Jja Roo

•

Thornburg Park

•

Gardena Bowl

•

Kotohira Restaurant

•

Fukagawa

•

Mas Fukai Park

•

Alondra Golf Course

•

O' Young's Rock Pot

•

Grand Fish Tacos & Ceviche

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

68

32

$746K

19

$572

47%

46

46

$715K

9

$484

100%

+48%

-30%

+4%

+111%

+18%

-53%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS

$715,000

46

46

$708,000

49

$725,000

Nov-21

$767,500

$825,000 $760,000

47

45 30

Oct-21

$765,000

30

Dec-21

33

30

Jan-22

28

28

Feb-22

37

Mar-22

50

$790,000

$752,500

65

58 38

Apr-22

44

31

May-22

$770,000

40

Jun-22

29

Jul-22

$720,000

$742,903

$746,000

72

69

68

31

Aug-22

21

Sep-22

32

Oct-22

HAWTHORNE Founded in 1905 and incorporated in 1922, Hawthorne is pleasantly nestled in the South Bay with easy access to work, travel, and play. Surrounded by the 405, 110, and 105 freeways, residents have easy access to all that Greater Los Angeles has to offer. Hawthorne boasts several top companies, including SpaceX, Tesla, The Boring Company, Northrop Corporation, OSI Systems, and Century Media Records. For those looking for a family-oriented neighborhood in a thriving community, Hawthorne is a great place to call home.

ATTRACTIONS

RESTAURANTS

•

Eucalyptus Skate Park

•

Hawthorne Memorial Park

•

Bossa Nova

•

India's Tandoori Halal

•

Jim Thorpe Park

•

•

Zacatecas

•

Common Space Brewery

•

Star Helicopters

Hawthorne Municipal Airport

•

Hummus House

•

Los Angeles Ale Works

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

70

15

$928K

11

$726

21%

47

43

$810K

15

$610

91%

+49%

-65%

+15%

-27%

+19%

-77%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS

$810,000

47

43

Oct-21

$822,500

40

32

Nov-21

$900,000

26

31

Dec-21

$980,000 $875,000

28 14 Jan-22

$803,000

25

24

Feb-22

$985,000

$875,000

23

31

Mar-22

36

$938,500

57

45 27

25

Apr-22

May-22

$887,000

Jun-22

24

Jul-22

$927,500

70

62

58

52 23

$940,000 $805,000

31

Aug-22

26

Sep-22

15 Oct-22

HERMOSA BEACH Hermosa Beach is home to the casual surfer lifestyle, twenty parks, and 1.8 miles of Pacific Ocean perfection. Nestled between Redondo Beach and Manhattan Beach, residents in Hermosa Beach can often be found enjoying favorite coastal pastimes, walking along the pier, playing outdoor sports such as tennis and baseball, enjoying fresh produce at the Farmer's Market, or trying new fare at one of the many restaurants. Area real estate is almost exclusively single-family homes, often designed with floor-to-ceiling windows to take advantage of the views. For those seeking coastal breezes, laid back atmosphere, and a nice distance from the city hustle, Hermosa Beach is the place.

ATTRACTIONS

RESTAURANTS

•

Hermosa Beach and Pier

•

The Farmer's Market

•

Zane's Steakhouse

•

Fritto Misto

•

The Strand

•

South Park

•

Palmilla Cocina y Tequila

•

Dia de Campo

•

The Comedy Club

•

Noble Park

•

Gum Tree

•

Chef Melba's Bistro

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

49

11

$1.90M

29

$1,287

22%

40

18

$2.11M

13

$978

45%

+23%

-39%

-10%

+123%

+32%

-50%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $2,800,000 $2,487,500

$2,105,000

40

$2,000,000

Oct-21

19

Nov-21

23

22

Dec-21

20

13

Jan-22

$2,150,000

$2,400,000

$2,067,500

$1,985,000

$1,850,000

44

35

31 18

$2,400,000 $2,200,000

28

34

29

19

19

19

Mar-22

Apr-22

May-22

44 20

7

Feb-22

Jun-22

Jul-22

$1,899,000

49

43

41

13

$1,975,000

15

16

Aug-22

Sep-22

11

Oct-22

HOLLYWOOD RIVIERA Hollywood Riviera, coined by developer Clifford Reid in 1927, got its name from bearing a resemblance to the French Riviera and on the dream of utilizing the area's natural setting for Hollywood's silver screens. The area is bordered by Palos Verdes Estates to the south and Redondo Beach and Torrance to the north. Outdoor amenities include the famous Riviera Village, a pedestrian-friendly district for galleries, shopping, dining, a weekly Farmer's Market, and more, as well as Torrance Beach, Rat Beach, and several parks. Commuters have direct access to Highway 1 and State Routes 107 and 213.

ATTRACTIONS

RESTAURANTS

•

Torrance Beach

•

Riviera Village

•

Bettolino Kitchen

•

Gabi James

•

Rat Beach

•

El Retiro Park

•

Riviera House

•

The Hook & Plow

•

Miramar Park

•

Los Arboles Rocketship Park •

Little Sister

•

TNT Aloha Cafe

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

15

8

$1.83M

18

$944

53%

14

17

$1.63M

11

$818

121%

+7%

-53%

+13%

+64%

+15%

-56%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $2,236,575

$2,176,500 $1,980,000 $1,625,000

$2,113,000 $1,939,000

$1,915,000

$1,897,500

$1,700,605

$1,587,500

$1,800,000

$1,830,000

$1,147,500

14

17 12 4

Oct-21

Nov-21

10 2

Dec-21

5

8 1

Jan-22

23

21

19

16 10

12

9

24

20 10

19 9

4

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

6

Aug-22

15 9

8

Sep-22

Oct-22

LAWNDALE Lawndale is a beautiful city and community located south of Hawthorne and west of Gardena. The city's close proximity to the beach allows residents to enjoy the marine layer almost identical to that of Manhattan Beach and El Segundo while in a quieter location away from the beach's popularity. The city is split diagonally by the 405 freeway, affording convenient access points for commuters.

Recreation activities include a golf course and neighboring park that hosts year round family-friendly activities. Local employment opportunities are available in aerospace, oil, and professional services.

ATTRACTIONS

RESTAURANTS

•

Alondra Park & Golf Course

•

Jane Addams Park

•

Ensenada's Surf N Turf Grill

•

El Amigo

•

Rudolph Park

•

Hawthorne Boulevard

•

Havana Mania

•

Saigon Dish

•

Roger Anderson Park

•

LA Rugby Club

•

Pacific Rim Thai Kitchen

•

Corner Burger

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

18

7

$645K

34

$617

39%

19

18

$718K

14

$509

95%

-5%

-61%

-10%

+143%

+21%

-59%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $896,300 $717,500

19

18

Oct-21

$763,500

$757,500

$750,000

$777,000

$800,088

$755,000

$857,000

$765,000

$736,000

$659,000

17

$644,983

22 12

Nov-21

10

15

Dec-21

16

13

12 6

7

Jan-22

Feb-22

15

Mar-22

22

15

Apr-22

30

28

27

24 8

9

May-22

Jun-22

10

Jul-22

18 10

8

7

Aug-22

Sep-22

Oct-22

LOMITA From a simple ranch house to a sleepy narrow gauge electric railroad stop and a handful of roads named after trees and fruits, Lomita has grown into a small city that, in spite of its growth, has maintained its rustic, small-town flavor. The Lomita railroad museum still stands today as a testament to the city's history. Lomita might be one of the smallest cities in the area, and this fact is part of the area's charm. As with neighboring cities, residents have access to an eclectic blend of restaurants, recreation opportunities, and major commuting freeways. Real estate offerings are a blend of single-family and attached homes that are perfect for families, professionals, and investors.

ATTRACTIONS

RESTAURANTS

•

Lomita Railroad Museum

•

Hathaway Park

•

King Poke

•

Harry's Oklahoma BBQ

•

Lomita Park

•

Veterans Park

•

Bites and Bashes Cafe

•

Pinky's Hot Box

•

Lomita Library

•

Planet Escape Room

•

The Nook Breakfast Spot

•

Lomita's Best

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

17

18

$833K

16

$575

106%

27

11

$777K

13

$490

41%

-37%

+64%

+7%

+23%

+17%

+160%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $876,000

$925,000

$777,000

27

Oct-21

$871,500

$860,000

$886,000

$915,000

$825,000

$732,500

25 11

$880,000

14

16

19

18

14

$729,500

24

18

15 6

Nov-21

Dec-21

Jan-22

28

Feb-22

11

Mar-22

17

11

Apr-22

8

May-22

Jun-22

$832,500

34

28 13

$795,000

26 17 8

7

6

Jul-22

Aug-22

Sep-22

18

Oct-22

MANHATTAN BEACH Manhattan Beach is a South Bay hotspot for outdoor enthusiasts, families, and anyone who dreams of waking up to sunny beachside views every morning. The over two miles of coastline offer residents year round opportunities for relaxation, rejuvenation, and a plethora of opportunities for shopping and dining with a view. Head a few streets inland for parks, gardens, golfing, and access Highway 1. Located just south of the Los Angeles airport and an hour to Downtown Los Angeles, residents enjoy convenient access to work and enjoying what the greater area has to offer.

ATTRACTIONS •

Roundhouse Aquarium

•

The Strand Bike Path

•

Manhattan Beach Art Center

RESTAURANTS •

•

Polliwog Park & Manhattan Beach Botanical Garden Bruce's Beach

•

The Strand House

•

The Arthur J

•

Jute Coastal Bar + Kitchen

•

Zinc

•

Simmzy's

•

Nick's Manhattan Beach

MARKET SUMMARY

OC TOBER 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

80

25

$3.00M

14

$1,194

31%

73

41

$3.50M

9

$1,350

56%

+10%

-39%

-14%

+56%

-12%

-44%

OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $4,025,500 $3,637,500

$3,500,000 $3,200,000

$2,977,500

$2,927,500

$2,680,000

44

37

35

35 17

Oct-21

Nov-21

Dec-21

57

42

Jan-22

24

28

Feb-22

Mar-22

77

61

55

34

35

Apr-22

May-22

$3,000,000

$2,800,000

$2,625,000

62 41

$3,495,000

$3,012,500

84

73

$3,775,000

32

Jun-22

36

Jul-22

80

79

68 28

Aug-22

19

Sep-22

25

Oct-22

REDONDO BEACH Located at the start of Los Angeles County's coastal edge, 20 miles south of downtown Los Angeles and seven miles south of Los Angeles International Airport, Redondo Beach is a premier beachfront destination. The city offers year-round beach days, high-end shopping and dining, pristine parks, and gorgeous waterfront properties. Local opportunities can be found in the northern industrial complex anchored by Northrop Grumman and in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water and a short walk or drive from the water's edge.

ATTRACTIONS

RESTAURANTS

•

Seaside Lagoon

•

Hopkins Wilderness Park

•

Bluewater Grill

•

Pura Vita

•

South Bay Galleria

•

Veterans Park

•

Sea Level Restaurant

•

Maderos Cocina Mexicana

•

Redondo Beach Marina

•

RB Performing Arts Center

•

The Standing Room

•

Hudson House

MARKET SUMMARY

OC TOBER 2022 OCTOBER

2022

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

102

50

$1.46M

20

$812

49%

83

96

$1.37M

10

$752

116%

+23%

-48%

+7%

+100%

+8%

-58%

OCTOBER

2021 PERCENT CHANGE

13-MONTH TRENDS $1,366,000

83

$1,427,000 $1,249,000

$1,500,000

$1,551,500

$1,480,000

77 49

Nov-21

70 30

Dec-21

64 37

38

Jan-22

$1,523,000 $1,330,000

$1,242,500

118

114

96

Oct-21

$1,550,000 $1,336,500

59

73

76

73

80

60

75

116 61

36

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

$1,430,000

107

$1,455,000

102

51

50

Aug-22

Sep-22

50

Oct-22

TORRANCE Torrance is the eigth largest city in Los Angeles County, and as such, provides an abundance of lifestyle experiences. Choose to live by the beach, slightly further inland, or in a more suburban setting. Torrance has something for everyone — traditional and luxury homes, condos, and townhomes. In Torrance, year round local events, recreation parks, museums, shopping, and a plethora of authentic cuisine are all a short distance away. Torrance is also home to El Camino College and a robust collection of industries. Aviation enthusiasts can feel at home at Zamperini field, a municipal airport primarily for private aircraft and instruction.

ATTRACTIONS

RESTAURANTS

•

Torrance Beach

•

Columbia Park

•

The San Franciscan

•

Madre

•

Zamperini Field

•

Torrance Art Museum

•

King Hawaiian Bakery

•

Shrimp By You

•

Madronna Marsh Preserve

•

Charles Wilson Park

•

Silog

•

Din Tai Fung

MARKET SUMMARY

OC TOBER 2022 OCTOBER

2022 OCTOBER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

171

75

$1.00M

17

$670

44%

112

111

$970K

9

$624

99%

+53%

-32%

+3%

+89%

+7%

-56%

13-MONTH TRENDS $1,028,000

$970,000 $865,000

$900,000

$915,000

$910,250

$981,500

$995,000

$1,015,000 $925,000

181 112 111

Oct-21

94

111

103

Nov-21

60

Dec-21

76

75

Jan-22

86

72

Feb-22

116 106

114 126

Mar-22

Apr-22

144 107

May-22

179

170 110

Jun-22

$985,000

109

Jul-22

$960,000

$1,000,065

171

163 86

83

Aug-22

Sep-22

75

Oct-22

BEVERLY HILLS

WE ARE THE COAST BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050

PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222

EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425

REDONDO BEACH 1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747

PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266 310.376.2225

TORRANCE 23740 Hawthorne Blvd.

Torrance, CA 90505 310.378.9889

MANHATTAN BEACH/DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700

WEST LOS ANGELES 10500 W. Pico Blvd.

Los Angeles, CA 90064 310.559.5570

MARINA DEL REY/VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292 310.577.5300

WESTCHESTER/SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000

WEST LOS ANGELES

MARINA DEL REY/VENICE WESTCHESTER/SILICON BEACH

EL SEGUNDO

MANHATTAN BEACH MANHATTAN BEACH/DOWNTOWN REDONDO BEACH TORRANCE PALOS VERDES - MALAGA COVE PALOS VERDES - SILVER SPUR PALOS VERDES - MIRALESTE

600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720

Anthony Todora, GRI

RE/MAX Estate Properties Branch Manager

Cell: 310.738.6775 Office: 310.427.3369 Email: atodora1@yahoo.com www.TheTodoraTeam.com

Market Intelligence Report Volume 8 | November 2022 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Lic# 00878016