ESTATE PROPERTIES ESTATE PROPERTIES Sept 2016
TheSouthBay
Market Intelligence Report 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 report covers Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo, Torrance, Hawthorne, Gardena, Lawndale and Lomita.
ESTAT
CalBRE# 00475933
Steve Goddard
Broker Associate | Manager | Sales Agent President of California Association of REALTORSÂŽ 2010 California Realtor of the Year
Cell: 310.367.7951 Phone: 310.376.5225
steve@stevegoddard.com stevegoddard.com
1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
Each Office Independently Owned and Operated
ESTATE PROPERTIES ESTATE PROPERTIES
BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050
SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225
coming soon! MANCHESTER 7131 Manchester Blvd Westchester, CA 90045
MANHATTAN BEACH BLVD 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Phone: 310.577.5300
EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425
MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700
HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150
SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999
Photography courtesy of Brian Holm, AvenueEye.com 424.262.7723
ESTATE PROPERTIES ESTATE PROPERTIES
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay.
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.
This Market Intelligence Report monitors
Average Price Per Square Foot:
Manhattan Beach
Properties for Sale:
Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties Sold.
The number of properties that are for sale on the market.
Hermosa Beach
Properties Under Contract:
Redondo Beach
Properties Sold:
El Segundo Torrance Hawthorne Lawndale Lomita Gardena
The number of properties with an accepted offer however they have not closed.
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 Sept. 2016 are based on data available at the end of August 2016. 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.
Photography courtesy of Brian Holm, AvenueEye.com
Manhattan Beach August Stats
$1,830,000
Median Sold Price
$2,180,000 Average Sold Price
110 Listings for Sale
Year Over Year
Aug. Aug. 2015 2016
Median Price
$1,950
$1,830
-6%
Average Price Per Sq. Foot
$1,360
$975
-28%
% Change
Properties for Sale
68
110 62%
Properties Pending Sales
31
39 26%
Properties Sold
30
39 30%
Days on Market (Sold Homes)
43
70 63%
Monthly Supply of Inventory
2.3
2.8 22%
Absorption Rate (closed sales)
44.1
35.5 -20%
Avg. & Median Price by Month
39 Listings Pending
$3,500 $3,000
$3,000 $2,500
$2,180
$2,593
$2,500 $2,000
39 Listings Sold
$1,830
$2,000 $1,655
$1,500
$1,500 $1,000
$1,000 $500
70 Days On Market
$500 $$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
Hermosa Beach August Stats Year Over Year
Aug. Aug. 2015 2016
Median Price Average Price Per Sq. Foot
% Change
$1,425
$1,771
24%
$867
$1,069
23%
Properties for Sale
40
49 23%
Properties Pending Sales
22
26 18%
Properties Sold
23
26 13%
Days on Market (Sold Homes)
61
70 15%
Monthly Supply of Inventory
1.7
1.9 12%
Absorption Rate (closed sales)
57.5
53.1 -8%
$3,000
$1,771,000
Median Sold Price
$2,408,000
Average Sold Price
49 Listings for Sale
Avg. & Median Price by Month
$3,500
$2,408
$2,500
$3,000 $2,593
$2,000
$2,500
26 Listings Pending
$1,771
$2,000 $1,500
$1,655
$1,500
26 Listings Sold
$1,000
$1,000 $500
$500 $- $-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
70 Days On Market
Redondo Beach August Stats
$963,000
Median Sold Price
$989,000 Average Sold Price
120 Listings for Sale
Year Over Year
Listings Pending
82 Listings Sold
% Change
Median Price
$795
$963
21%
Average Price Per Sq. Foot
$537
$545
1%
Properties for Sale
98
120 22%
Properties Pending Sales
69
88 28%
Properties Sold
75
82 9%
Days on Market (Sold Homes)
45
40 -11%
Monthly Supply of Inventory
1.3
1.5 15%
Absorption Rate (closed sales)
76.5
68.3 -11%
$1,200
88
Aug. Aug. 2015 2016
Avg. & Median Price by Month
$3,500
$1,009 $987
$1,000
$3,000 $2,593
$800 $2,500
$2,000
$600
$1,655
$1,500 $400
$1,000 $200
40 Days On Market
$500 $$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
El Segundo August Stats Year Over Year
Aug. Aug. 2015 2016
% Change
Median Price
$780
$1,113
43%
Average Price Per Sq. Foot
$471
$656
39%
Properties for Sale
18
23 28%
Properties Pending Sales
10
12 20%
Properties Sold
9
14 56%
Days on Market (Sold Homes)
44
51 16%
Monthly Supply of Inventory
2
1.6 -20%
Absorption Rate (closed sales)
50
60.9 22%
$1,600
$1,113,000 Median Sold Price
$1,148,000 Average Sold Price
23 Listings for Sale
Avg. & Median Price by Month
$3,500 $1,400 $1,148
$3,000 $1,200
$1,113
$2,593
12 Listings Pending
$2,500 $1,000 $2,000 $800 $1,655 $600 $1,500
Listings Sold
$400 $1,000
$200 $500
$- $-
14
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
51 Days On Market
Torrance August Stats
$725,000
Median Sold Price
$748,000
Average Sold Price
116 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$675
$725
7%
Average Price Per Sq. Foot
$435
$469
8%
Properties for Sale
190
116 -39%
Properties Pending Sales
102
129 26%
Properties Sold
103
142 38%
Days on Market (Sold Homes)
43
48 12%
Monthly Supply of Inventory
1.8
0.8 -56%
Absorption Rate (closed sales)
54.2
122.4 126%
$900
129
Aug. Aug. 2015 2016
Avg. & Median Price by Month
$3,500
$748
$800
$725
$3,000 $700 $2,593
$600 $2,500 $500
142 Listings Sold
$2,000
$1,655
$400
$1,500 $300
$1,000
$200
48 Days On Market
$500 $100 $$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
Hawthorne August Stats Year Over Year
Aug. Aug. 2015 2016
% Change
Median Price
$474
$625
32%
Average Price Per Sq. Foot
$335
$406
21%
Properties for Sale
51
43 -16%
Properties Pending Sales
37
37 0%
Properties Sold
40
39 -3%
Days on Market (Sold Homes)
36
44 22%
Monthly Supply of Inventory
1.3
1.1 -15%
Absorption Rate (closed sales)
78.4
90.7 16%
$700
$625,000
Median Sold Price
$621,000 Average Sold Price
43 Listings for Sale
Avg. & Median Price by Month $621
$3,500
$625
$600
$3,000 $500
$2,593
37 Listings Pending
$2,500 $400
$2,000 $1,655
$300
$1,500
39 Listings Sold
$200
$1,000
$100
$500
$-$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
44 Days On Market
Lawndale August Stats
$499,000
Median Sold Price
$503,000 Average Sold Price
9 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$449
$499
11%
Average Price Per Sq. Foot
$352
$332
-6%
Properties for Sale
31
9 -71%
Properties Pending Sales
10
17 70%
Properties Sold
12
14 17%
Days on Market (Sold Homes)
64
49 -23%
Monthly Supply of Inventory
2.6
0.6 -77%
Absorption Rate (closed sales)
38.7
155.6 302%
$600
17
Aug. Aug. 2015 2016
Avg. & Median Price by Month
$3,500
$503
$499
$500
$3,000 $2,593
$400
$2,500
14 Listings Sold
$2,000 $300
$1,655
$1,500 $200
$1,000 $100
49 Days On Market
$500 $$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
Lomita August Stats Year Over Year
Aug. Aug. 2015 2016
% Change
Median Price
$542
$621
15%
Average Price Per Sq. Foot
$330
$361
9%
Properties for Sale
27
13 -52%
Properties Pending Sales
20
13 -35%
Properties Sold
10
21 110%
Days on Market (Sold Homes)
69
55 -20%
Monthly Supply of Inventory
2.7
0.6 -78%
Absorption Rate (closed sales)
37
161.5 336%
$700
Avg. & Median Price by Month
$3,500
$613 $621
$600
$3,000 $500
$2,593
$621,000
Median Sold Price
$613,000 Average Sold Price
13 Listings for Sale
13 Listings Pending
$2,500 $400
$2,000 $1,655
$300
$1,500
21 Listings Sold
$200
$1,000
$100
$500
$- $-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
55 Days On Market
Gardena August Stats
$492,000
Median Sold Price
$452,000
Average Sold Price
79 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$405
$492
21%
Average Price Per Sq. Foot
$342
$370
8%
Properties for Sale
58
79 36%
Properties Pending Sales
39
52 33%
Properties Sold
37
31 -16%
Days on Market (Sold Homes)
42
38 -10%
Monthly Supply of Inventory
1.6
2.5 56%
Absorption Rate (closed sales)
63.8
39.2 -39%
$600
52
Aug. Aug. 2015 2016
Avg. & Median Price by Month
$3,500 $500
$452
$492
$3,000 $2,593
$400
$2,500
31
$2,000 $300
Listings Sold
$200
$1,655 $1,500
$1,000 $100
38 Days On Market
$500 $-
$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016
Median
Average
ESTATE PROPERTIES ESTATE PROPERTIES
CONNECT WITH US f www.facebook.com/REMAXEstateProperties z www.youtube.com/EPLAHomes t@remaxepla i www.linkedin.com/in/remaxestateproperties c @REMAXEPLA
+ www.googleplus.com/REMAXEstateProperties
pwww.pinterest.com/remaxepla
© 2016 RE/MAX Estate Properties
CalBRE# 00475933
Steve Goddard
Broker Associate | Manager | Sales Agent President of California Association of REALTORSÂŽ 2010 California Realtor of the Year
Cell: 310.367.7951 Phone: 310.376.5225
steve@stevegoddard.com stevegoddard.com
1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
Each Office Independently Owned and Operated