Robert Dixon MIR - Palos Verdes

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PALOS VERDES

Intelligence Report Volume 8 | December 2022
Market
PALOS VERDES MARKETS Harbor City Palos Verdes Estates Rancho Palos Verdes Rolling Hills Rolling Hills Estates San Pedro Wilmington 4 6 8 10 12 14 16

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 Palos Verdes 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.

HARBOR CITY

Harbor City is a growing, vibrant community just east of the Palos Verdes Peninsula and 30 minutes south of downtown Los Angeles. Ideally located as a gateway between the port cities and beach cities, residents have easy access to explore the greater Los Angeles area. Harbor City is home to an expansive Kaiser hospital, regional park, and community college – providing avenues for wellness and work opportunities. Housing in Harbor City is a mixture of single-family residences and low-rise apartments, many of which are walkable to parks and delicious restaurants.

ATTRACTIONS RESTAURANTS

• Ken Malloy Harbor Park

• Machado Lake

• Los Angeles Harbor College

• Harbor City Library

• Harbor City Skatepark

• The Skating Edge Ice Arena

• Tacos El Goloso

• Philipo's Pizza and Pasta

• Raku Sushi Tonkatsu

• Baja Fish Grill

• Monarca's Mexican Food

• Chicken Maison

TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 21 8 $555K 35 $499 38% NOVEMBER 2021 22 11 $800K 5 $492 50% PERCENT CHANGE -5% -27% -31% +600% +1% -24% MARKET SUMMARY NOVEMBER 2022 13-MONTH TRENDS 22 16 15 18 17 23 25 31 28 27 28 23 21 11 13 13 12 17 18 15 13 19 20 6 7 8 $800,000 $700,000 $789,000 $745,000 $830,000 $767,500 $744,000 $830,000 $779,000 $794,000 $600,000 $640,000 $555,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22

PALOS VERDES ESTATES

Master-planned by noted landscape architect Fredrick Law Olmstead Jr., Palos Verdes Estates is perched on the northwestern edge of the Palos Verdes Peninsula. The city is ideally located for postcard perfect views and privacy while still offering close proximity to South Bay beach city nightlife. It is known for its high-performing schools, and Palos Verdes Peninsula High School is consistently found in top ranks in national publications. Residences in the area are pleasantly placed in between several open and green spaces and range from mid-century modern family homes to $10 million+ palatial estates, offering many options for buyers.

ATTRACTIONS RESTAURANTS

• Palos Verdes Golf Club

• Bluff Cove Trail

• Malaga Dunes

• Flat Rock Point & Beach

• George Allen Field

• Roessler Point

• Salsa Verdes

• Black Bamboo Sushi

• The Cove Cafe

• Malaga Cove Ranch Market

• Rafaello's Pizza

• Lunada Market & Deli

TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 19 11 $2.20M 66 $952 58% NOVEMBER 2021 25 25 $2.80M 9 $891 100% PERCENT CHANGE -24% -56% -21% +633% +7% -42% MARKET SUMMARY NOVEMBER 2022 13-MONTH TRENDS 25 23 26 26 20 26 30 38 48 41 33 27 19 25 16 7 11 24 16 11 24 8 16 16 10 11 $2,798,800 $2,650,000 $2,425,000 $2,750,000 $3,550,000 $3,051,000
$3,465,000
$2,650,000 $2,225,000 $3,510,000 $2,200,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22
$3,000,000
$3,762,500

RANCHO PALOS VERDES

Anchored by the iconic Point Vicente Lighthouse and dramatic coastal views of Catalina Island and beyond, Rancho Palos Verdes is the largest city on the peninsula. Like its neighbors, the city enjoys highly ranked schools and is consistently ranked as one of the wealthiest zip codes in the United States. Recreation activities abound in the many horse and hiking trails as well as two golf courses, the Terranea Resort, and several parks. Top city employers are in the education, resort, and real estate industries. Real estate opportunities are largely single-family homes that range from mid-century traditional single-story homes to truly exceptional estates.

ATTRACTIONS

• Los Verdes Golf Course

• Point Vicente Lighthouse

• Abalone Cove Trail & Beach

• Peninsula Racquet Club

• Terranea Resort

• Del Cerro Park

RESTAURANTS

• Mar'sel

• Swan Thai

• Avenue Italy

• Tomatillo Mexican Grill

• Nelson's

• Peninsula Tap House

TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 71 21 $1.70M 13 $758 30% NOVEMBER 2021 53 39 $1.75M 10 $771 74% PERCENT CHANGE +34% -46% -3% +30% -2% -60% MARKET SUMMARY NOVEMBER 2022 13-MONTH TRENDS 53 34 44 50 58 59 61 67 93 87 83 79 71 39 57 33 33 48 46 54 43 31 42 31 36 21 $1,750,000 $1,575,000 $1,525,000 $1,750,000 $1,745,000 $1,797,500 $1,867,500 $1,799,000 $1,850,000 $1,759,250 $1,650,000 $1,668,000 $1,699,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22

ROLLING HILLS

For those seeking ultimate privacy, Rolling Hills is the perfect community. This equestrian-friendly city is entirely comprised of private land and is only accessible by three gates with 24/7 staffing. Located in the central portion of the Palos Verdes Peninsula, residents are still treated to stunning coastal views, parks, and trails for outdoor activities. Bordered by Portuguese Canyon, Rolling Hills Estates, and Rancho Palos Verdes, Rolling Hills offers a peaceful setting while within close proximity to fine dining, sport and recreation areas, and professional services.

ATTRACTIONS

• Hesse's Gap

• Saffo's Rest

• Stormhill Park

• Aqua Magna Canyon

• Westfield Park

• Portuguese Canyon

TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 11 1 $3.50M 21 $921 9% NOVEMBER 2021 9 2 $3.56M 24 $769 22% PERCENT CHANGE +22% -50% -2% -13% +20% -59% MARKET SUMMARY NOVEMBER 2022 13-MONTH TRENDS 9 9 9 5 7 6 5 6 4 7 8 7 11 2 3 0 6 2 3 2 1 3 1 0 0 1 $3,556,000 $4,250,000 $3,575,000 $3,641,155 $4,500,000 $4,025,000 $3,125,000 $4,665,000 $3,400,000 $3,500,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22

ROLLING HILLS ESTATES

Founded in 1957, Rolling Hills Estates offers small town, semi-rural living with a thriving city organization. Residents are afforded three convenient shopping centers, dining, trail access, and a myriad of local community events throughout the year. The city is best known for its love of all things equestrian, offering over 25 miles of scenic horse trails and an Equestrian Center. Real estate is largely single-family homes with nods to several custom architectural styles to choose from. Located on the northern end of the Peninsula, residents enjoy the tight-knit community as well as the close proximity to urban centers, industry, and world-famous beaches.

ATTRACTIONS RESTAURANTS

• South Coast Botanic Garden

• Peter Weber Equestrian Center

• Rolling Hills Park Tennis Club • Promenade Ice Chalet • Rolling Hills Little League

• Chicken Maison • The Original Red Onion • Giorgio's

• Mama Terrano

• The Crepery Cafe

• TantaWan Thai Cuisine

TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 47 21 $1.70M 14 $736 45% NOVEMBER 2021 24 28 $1.67M 9 $757 117% PERCENT CHANGE +96% -25% +2% +56% -3% -62% MARKET SUMMARY NOVEMBER 2022 13-MONTH TRENDS 24 18 28 27 30 30 32 41 63 65 61 63 47 28 27 16 26 32 31 27 24 21 31 27 16 21 $1,672,500 $1,675,000 $1,477,500 $2,325,000 $1,895,000 $1,380,000 $1,940,000 $2,385,500 $1,830,000 $1,430,000 $1,850,000 $1,287,000 $1,699,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22

SAN PEDRO

San Pedro is a unique and vibrant community that feels like its own city. San Pedro is one of the cities with direct access to The Port of Los Angeles, a major international seaport. Originally dominated by the fishing industry, San Pedro has grown into a working class community with a wide variety of outdoor recreation spaces, family-friendly activities, and a thriving shopping and dining scene. San Pedro is also hosts the annual Shakespeare by the annual summer Sea festival. Real estate offerings include single-family homes with some condos available, offering a multitude of styles and finishes.

ATTRACTIONS RESTAURANTS

• Point Fermin Park

• Cabrillo Aquarium

• Deane Dana Friendship Park

• Cabrillo Beach Yacht Club

• Crafted at the Port of LA

• Old San Pedro

• Raffaello Ristorante

• Crazy Fish - Grill & Market

• Sirinat Thai & Sushi Bar

• J. Trani's Ristorante

• Sebastians's Mediterranean

• Compagnon Wine Bistro

TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 86 35 $880K 15 $581 41% NOVEMBER 2021 89 68 $815K 12 $472 76% PERCENT CHANGE -3% -49% +8% +25% +23% -47% MARKET SUMMARY NOVEMBER 2022 13-MONTH TRENDS 89 60 63 64 73 68 83 104 94 94 93 78 86 68 65 39 49 67 54 41 50 46 53 34 34 35 $815,000 $705,000 $710,000 $770,000 $820,000 $808,000 $815,000 $880,000 $814,444 $800,000 $766,000 $762,000 $880,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22

WILMINGTON

Wilmington is one of the oldest communities in Los Angeles and enjoys a long and proud history of being the gateway to Los Angeles. Inside the area, you will find many historical museums, military installations, six parks, waterfront attractions, a community center, and skate plaza. Wilmington has a heavy concentration of industry and the third largest oil field in the United States, offering several employment opportunities. Wilmington is primarily comprised of single-family homes perfect for families and professionals. Bordered by Long Beach, Carson, and San Pedro, Wilmington offers convenient freeway access to explore greater Los Angeles and beyond.

ATTRACTIONS RESTAURANTS

•

• Terminal Island

• Wilmington Waterfront Park

• The Banning Museum

• California Yacht Marina

• San Pedro Fish Market Grille

• Issac's Cafe

• John Mendez Baseball Park

• The Chowder Barge

• Montoya's

• Hojas Premium Tea House

• Eat at Rudy's

Vincent Thomas Bridge
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 27 11 $645K 15 $506 41% NOVEMBER 2021 14 12 $559K 12 $559 86% PERCENT CHANGE +93% -8% +15% +25% -9% -52% MARKET SUMMARY NOVEMBER 2022 13-MONTH TRENDS 14 14 16 15 19 17 18 13 22 21 33 29 27 12 12 8 7 16 16 9 9 13 9 8 7 11 $559,250 $617,500 $637,500 $625,000 $663,750 $683,250 $625,000 $516,000 $635,000 $649,000 $621,500 $600,000 $645,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22

BEVERLY HILLS

WE ARE THE COAST

BEVERLY HILLS

9454 Wilshire Blvd., Suite 600

Beverly Hills, CA 90212 310.205.0050

EL SEGUNDO

402 Main Street

El Segundo, CA 90245 310.322.1425

PALOS VERDES - MALAGA COVE

63 Malaga Cove Plaza

Palos Verdes Estates, CA 90274 310.378.9494

MANHATTAN BEACH

1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225

MANHATTAN BEACH/DOWNTOWN

1401 Highland Avenue

Manhattan Beach, CA 90266 310.937.5700

MARINA DEL REY/VENICE

124 Washington Blvd.

Marina Del Rey, CA 90292 310.577.5300

PALOS VERDES - MIRALESTE

5 Miraleste Plaza

Rancho Palos Verdes, CA 90275 310.831.0222

REDONDO BEACH

1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747

PALOS VERDES - SILVER SPUR

450 Silver Spur Road

Rancho Palos Verdes, CA 90275 310.544.9999

TORRANCE

23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889

WEST LOS ANGELES

10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570

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

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