Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | April 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 Palos Verdes Estates
Rolling Hills Estates
Palos Verdes Peninsula
San Pedro
Rancho Palos Verdes
Harbor City
Rolling Hills
Wilmington
RE/MAX Estate Properties 700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International
Sally McDonald Steele 310.383.3538
Sally.Mcdonald@gmail.com Saltherealestategal.com DRE# 01362779
“Sal the Real Estate Gal” RE/MAX Estate Properties 1416 W 25th Street San Pedro, CA 90732
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 April 2018 are based on data available at the end of March 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
Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor Cities Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8 Wilmington.......................................................................9 Harbor City .....................................................................10
Palos Verdes Estates March Stats Key Facts:
$1,868,000
Median Sold Price
$2,076,000
Average Sold Price
51
Mar. Mar. % 2017 2018 Change
Median Price
$1,578
$1,868
18%
Average Price Per Sq. Foot
$776
$730
-6%
Properties for Sale
52
51 -2%
Properties Pending Sales
21
17 -19%
Properties Sold
24
21 -13%
Days on Market (Sold Homes)
75
67 -11%
Monthly Supply of Inventory
2.2 2.4 9%
Absorption Rate (closed sales) 46.2 41.2 -11%
Listings for Sale
17
Listings Pending
Average & Median Price $3,000
$3,500 $2,500
$3,000
21
$2,076
$2,593 $2,500 $2,000
$1,868
Listings Sold $2,000 $1,500
67
Days On Market
$1,655
$1,500 $1,000
$1,000 $500 $500
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Rancho Palos Verdes March Stats Key Facts:
$1,250,000 Median Sold Price
$1,310,000
Average Sold Price
80
Mar. Mar. 2017 2018
Median Price
$1,222
$1,250
2%
Average Price Per Sq. Foot
$542
$536
-1%
Properties for Sale
87
80 -8%
Properties Pending Sales
46
57 24%
Properties Sold
33
38 15%
Days on Market (Sold Homes) 52
36 -31%
Monthly Supply of Inventory
2.1 -19%
Listings Pending
2.6
Absorption Rate (closed sales) 37.9 47.5 25%
Listings for Sale
57
Average & Median Price $3,500
$1,600 $1,310
$3,000 $1,400
38
Listings Sold
% Change
$1,250
$2,593
$1,200 $2,500 $1,000
$2,000
$1,655
$800
36
Days On Market
$1,500
$600
$1,000 $400
$500 $200
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Rolling Hills March Stats Key Facts:
$2,063,000
Median Sold Price
$2,063,000
Average Sold Price
25
Mar. Mar. % 2017 2018 Change
Median Price
$1,950
$2,063
6%
Average Price Per Sq. Foot
$908
$616
-32%
Properties for Sale
23
25 9%
Properties Pending Sales
3
2 -33%
Properties Sold
1
2 100%
Days on Market (Sold Homes)
74
127 72%
Monthly Supply of Inventory
23
12.5 -46%
Absorption Rate (closed sales) 4.3
Listings for Sale
2
Listings Pending
8 86%
Average & Median Price $3,500
$4,500
$3,000 $4,000
2
Listings Sold
$2,593
$3,500
$2,500
$3,000
$2,000 $2,500
127
Days On Market
$2,063
$1,655 $2,063
$1,500
$2,000
$1,500 $1,000 $1,000
$500 $500
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Rolling Hills Estates March Stats Key Facts:
$1,570,000 Median Sold Price
$1,521,000
Average Sold Price
18
Mar. Mar. 2017 2018
Median Price
$1,190
$1,570
32%
Average Price Per Sq. Foot
$544
$536
-1%
Properties for Sale
27
18 -33%
Properties Pending Sales
14
15 7%
Properties Sold
11
10 -9%
Days on Market (Sold Homes) 52
46 -12%
Monthly Supply of Inventory
1.8 -28%
Listings Pending
2.5
Absorption Rate (closed sales) 40.7 55.6 37%
Listings for Sale
15
% Change
Average & Median Price $1,800
$3,500
$1,600
$1,521
$1,570
$3,000 $1,400
10
Listings Sold
$2,593
$2,500
$1,200
$2,000 $1,000 $1,655
46
Days On Market
$800 $1,500 $600
$1,000
$400
$500 $200
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
San Pedro March Stats Key Facts:
$591,000
Median Sold Price
$610,000
Average Sold Price
55
Mar. Mar. % 2017 2018 Change
Median Price
$490
$591
21%
Average Price Per Sq. Foot
$381
$419
10%
Properties for Sale
80
55 -31%
Properties Pending Sales
79
52 -34%
Properties Sold
61
54 -11%
Days on Market (Sold Homes)
40
35 -13%
Monthly Supply of Inventory
1.3
1 -23%
Absorption Rate (closed sales) 76.3 98.2 29%
Listings for Sale
52
Listings Pending
Average & Median Price $3,500 $700
$610
$3,000
54
Listings Sold
$591
$2,593
$600
$2,500 $500
$2,000 $1,655
$400
35
Days On Market
$1,500 $300
$1,000 $200
$500 $100
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Wilmington March Stats Key Facts:
$460,000 Median Sold Price
$436,000
Average Sold Price
15
Listings Pending
$423
$460
9%
Average Price Per Sq. Foot
$293
$332
13%
Properties for Sale
17
15 -12%
Properties Pending Sales
14
11 -21%
Properties Sold
14
16 14%
Days on Market (Sold Homes) 36
63 75%
Monthly Supply of Inventory
0.9 -25%
1.2
Absorption Rate (closed sales) 82.4 106.7 29%
Average & Median Price $3,500
$500 $436
$450 $3,000
16
Listings Sold
% Change
Median Price
Listings for Sale
11
Mar. Mar. 2017 2018
$460
$2,593
$400
$2,500 $350
$2,000 $300 $1,655 $250
63
Days On Market
$1,500
$200
$1,000 $150 $100
$500
$50
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
Harbor City March Stats Key Facts:
$541,000
Median Sold Price
$538,000
Average Sold Price
12
Median Price
$511
$541
6%
Average Price Per Sq. Foot
$306
$357
17%
Properties for Sale
27
12 -56%
Properties Pending Sales
23
20 -13%
Properties Sold
12
16 33%
Days on Market (Sold Homes)
55
37 -33%
Monthly Supply of Inventory
2.3
0.8 -65%
Absorption Rate (closed sales) 44.4
133.3 200%
Listings for Sale
20
Listings Pending
Mar. Mar. % 2017 2018 Change
Average & Median Price $538
$600
$541
$3,500 $500
$3,000
16
$2,593 $400 $2,500
Listings Sold $2,000
$300
37
Days On Market
$1,655
$1,500 $200
$1,000 $100
$500
$-
$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018
Median
Average
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© 2015-18 RE/MAX Estate Properties
Sally McDonald Steele 310.383.3538
Sally.Mcdonald@gmail.com Saltherealestategal.com DRE# 01362779
“Sal the Real Estate Gal” RE/MAX Estate Properties 1416 W 25th Street San Pedro, CA 90732