Vol. 5 | December 2019
Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities
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ESTATE PROPERTIES
info@stearnsliebteam.com www.stearnsliebteam.com DRE# 01920602, 01851243, and 00779647 Information deemed reliable but not guaranteed.
Palos Verdes Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout Palos Verdes
Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7
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.
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.
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.
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 December 2019 are based on data available at the end of November 2019. 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.
Palos Verdes Estates November Stats Key Facts:
$1,765,000
Median Sold Price
$1,805,000
Average Sold Price
62
NOV NOV % 2018 2019 Change
Median Price (in $1,000)
$1,900
$1,765
-7%
$686
$764
11%
Average Price Per Sq. Foot Properties for Sale
64
62 -3%
Properties Pending Sales
9
15 67%
Properties Sold
10
12 20%
Days on Market (Sold Homes)
32
42 31%
Monthly Supply of Inventory
6.4
5.2 -19%
Absorption Rate (Closed Sales) 15.6
19.4 24%
Listings for Sale
15
Listings Pending
Average & Median Price $8,000 $3,500 $7,000
$3,000
12
Listings Sold
$2,593
$6,000
$2,500 $5,000
$2,000 $4,000
42
Days On Market
$1,655
$1,500
$3,000 $1,805
$1,000
$1,765
$2,000
$500 $1,000 $- $-
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rancho Palos Verdes November Stats Key Facts:
Median Price (in $1,000)
$1,220,000 Median Sold Price
$1,286,000
Average Sold Price
108
Average Price Per Sq. Foot
Listings Pending
NOV 2019
$1,200
$1,220
2%
$568
$537
-5%
% Change
Properties for Sale
116
108 -7%
Properties Pending Sales
20
44 120%
Properties Sold
25
42 68%
Days on Market (Sold Homes)
42
43 2%
Monthly Supply of Inventory
4.6
2.6 -43%
Absorption Rate (Closed Sales) 21.6
38.9 80%
Listings for Sale
44
NOV 2018
Average & Median Price $1,800 $3,500 $1,600
$3,000
42
Listings Sold
$1,286
$1,400
$2,593 $1,220
$2,500
$1,200
$2,000 $1,000 $1,655
43
Days On Market
$800
$1,500
$600
$1,000 $400
$500
$200
$- $-
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rolling Hills November Stats Key Facts:
$2,100,000
Median Sold Price
$2,100,000
Average Sold Price
19
NOV NOV % 2018 2019 Change
Median Price (in $1,000)
$2,700
$2,100
-22%
$787
$1,041
32%
Average Price Per Sq. Foot Properties for Sale
19
19 0%
Properties Pending Sales
0
1 100%
Properties Sold
3
1 -67%
Days on Market (Sold Homes)
148
14 -91%
Monthly Supply of Inventory
6.3
19 202%
Absorption Rate (Closed Sales) 15.8
5.3 -66%
Listings for Sale
1
Listings Pending
Average & Median Price $18,000
$3,500
$16,000
$3,000 $14,000
1
Listings Sold
$2,593
$2,500 $12,000 $10,000 $2,000
$1,655
$8,000
14
Days On Market
$1,500 $6,000
$1,000
$4,000
$2,100 $2,100
$2,000 $500
$-
$Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rolling Hills Estates November Stats Key Facts:
$1,293,000 Median Sold Price
$1,326,000
Average Sold Price
56
NOV 2018
Listings Pending
% Change
Median Price (in $1,000)
$925
$1,293
40%
Average Price Per Sq. Foot
$503
$600
19%
Properties for Sale
69
56 -19%
Properties Pending Sales
20
32 60%
Properties Sold
22
42 91%
Days on Market (Sold Homes)
49
35 -29%
Monthly Supply of Inventory
3.1
1.3 -58%
Absorption Rate (Closed Sales) 31.9
Listings for Sale
32
NOV 2019
75 135%
Average & Median Price $1,800 $3,500 $1,600
$3,000
42
Listings Sold
$1,400
$1,326
$2,500
$2,593 $1,293
$1,200
$2,000 $1,000 $1,655
35
Days On Market
$800
$1,500
$600
$1,000 $400
$500 $200 $-
$Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
(424) 241-3311
RE/MAX
ESTATE PROPERTIES
info@stearnsliebteam.com www.stearnsliebteam.com DRE# 01920602, 01851243, and 00779647 Information deemed reliable but not guaranteed.