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
Steve Kary
Lic# 00872041
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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.
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.
AVERAGE PRICE PER SQUARE FOOT:
Found by taking the price of each property and dividing that by its PROPERTIES PENDING SALE: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.
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.
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 Feb. 2019 are based on data available at the end of Jan. 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.
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12
El Segundo JANUARY STATS Key Facts:
$1,143,000
Median Sold Price
$1,174,000
Average Sold Price
24
JAN. JAN. % 2018 2019 Change
Median Price (in $,000)
$1,420
$1,143
-20%
Average Price Per Sq. Foot
$604
$618
2%
Properties for Sale
15
24 60%
Properties Pending Sales
9
15 67%
Properties Sold
5
8 60%
Days on Market (Sold Homes)
88
56 -36%
Monthly Supply of Inventory
3
3 0%
Absorption Rate (closed sales) 33.3 33.3 0%
Listings for Sale
15
Listings Pending
AVERAGE & MEDIAN PRICE $1,800 $3,500 $1,600 $3,000 $1,400
8
Listings Sold
56
Days On Market
$1,174
$2,500 $1,200
$1,143$2,593
$1,000 $2,000 $1,655
$800 $1,500 $600 $1,000 $400 $500 $200 $-
$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019
Median
Average
Gardena JANUARY STATS Key Facts:
$539,000
Median Sold Price
$497,000
Average Sold Price
57
JAN. 2018
Listings Pending
19
Listings Sold
28
Days On Market
% Change
Median Price (in $,000)
$452
$539
19%
Average Price Per Sq. Foot
$359
$436
21%
Properties for Sale
36
57 58%
Properties Pending Sales
29
40 38%
Properties Sold
23
19 -17%
Days on Market (Sold Homes) 39
28 -28%
Monthly Supply of Inventory
3 88%
1.6
Absorption Rate (closed sales) 63.9
Listings for Sale
40
JAN. 2019
33.3 -48%
AVERAGE & MEDIAN PRICE $700 $3,500 $600 $3,000
$497
$539 $2,593
$500 $2,500 $400 $2,000
$1,655
$300 $1,500 $200 $1,000 $100 $500
$-
$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019
Median
Average
Hawthorne JANUARY STATS Key Facts:
$685,000
Median Sold Price
$681,000
Average Sold Price
55
JAN. JAN. % 2018 2019 Change
Median Price (in $,000)
$575
$685
19%
Average Price Per Sq. Foot
$408
$471
15%
Properties for Sale
15
55 267%
Properties Pending Sales
28
30 7%
Properties Sold
21
21 0%
Days on Market (Sold Homes)
33
24 -27%
Monthly Supply of Inventory
0.7
2.6 271%
Absorption Rate (closed sales) 140
38.2 -73%
Listings for Sale
30
Listings Pending
AVERAGE & MEDIAN PRICE $800 $681
$3,500 $700
$685
$3,000 $600
21
Listings Sold
$2,593 $2,500 $500 $2,000$400
24
Days On Market
$1,655
$1,500$300 $1,000$200 $500$100
$-
$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019
Median
Average
Hermosa Beach JANUARY STATS Key Facts:
$2,365,000 Median Sold Price
$2,954,000
Average Sold Price
43
JAN. 2018
JAN. 2019
% Change
Median Price (in $,000)
$1,343
$2,365
76%
Average Price Per Sq. Foot
$1,044
$1,278
22%
Properties for Sale
44
43 -2%
Properties Pending Sales
21
11 -48%
Properties Sold
6
10 67%
Days on Market (Sold Homes) 31
99 219%
Monthly Supply of Inventory
4.3 -41%
Absorption Rate (closed sales) 13.6 23.3 71%
Listings for Sale
11
Listings Pending
7.3
AVERAGE & MEDIAN PRICE $3,500 $2,954
$3,500
$3,000 $3,000
10
Listings Sold
$2,593 $2,365
$2,500 $2,500 $2,000 $2,000
$1,655
99
Days On Market
$1,500 $1,500
$1,000 $1,000 $500 $500 $-
$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median
Average
Lawndale JANUARY STATS Key Facts:
$587,000
Median Sold Price
$573,000
Average Sold Price
15
Median Price (in $,000)
$522
$587
12%
Average Price Per Sq. Foot
$480
$423
-12%
Properties for Sale
8
15 88%
Properties Pending Sales
11
13 18%
Properties Sold
12
6 -50%
Days on Market (Sold Homes)
22
15 -32%
Monthly Supply of Inventory
0.7
2.5 257%
Absorption Rate (closed sales) 150
40 -73%
Listings for Sale
13
Listings Pending
JAN. JAN. % 2018 2019 Change
AVERAGE & MEDIAN PRICE $573
$700 $3,500
$587 $600 $3,000
6
$2,593
$500 $2,500
Listings Sold $400 $2,000 $1,655
15
Days On Market
$1,500 $300
$1,000 $200
$500 $100
$-$-
Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median
Average
Lomita JANUARY STATS Key Facts:
$529,000 Median Sold Price
$525,000
Average Sold Price
20
JAN. 2018
Listings Pending
% Change
Median Price (in $,000)
$714
$529
-26%
Average Price Per Sq. Foot
$394
$422
7%
Properties for Sale
9
20 122%
Properties Pending Sales
18
12 -33%
Properties Sold
10
5 -50%
Days on Market (Sold Homes) 21
60 186%
Monthly Supply of Inventory
0.9
4 344%
Absorption Rate (closed sales) 111.1
25 -77%
Listings for Sale
12
JAN. 2019
AVERAGE & MEDIAN PRICE $800 $3,500 $700 $3,000
5
Listings Sold
$600 $2,500
$525
$2,593
$529
$500 $2,000 $1,655
$400
60
Days On Market
$1,500 $300 $1,000 $200 $500 $100 $- $-
Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median
Average
Manhattan Beach JANUARY STATS Key Facts:
$2,175,000
Median Sold Price
$2,716,000
Average Sold Price
85
JAN. JAN. % 2018 2019 Change
Median Price (in $,000)
$2,270
$2,175
-4%
Average Price Per Sq. Foot
$1,140
$1,143
0%
Properties for Sale
55
85 55%
Properties Pending Sales
28
27 -4%
Properties Sold
19
20 5%
Days on Market (Sold Homes)
55
63 15%
Monthly Supply of Inventory
2.9
4.3 48%
Absorption Rate (closed sales) 34.5
23.5 -32%
Listings for Sale
27
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $4,000
$3,500 $3,000
20
Listings Sold
63
Days On Market
$2,593 $2,716
$3,000 $2,500 $2,500 $2,000
$2,175 $1,655
$2,000 $1,500 $1,500 $1,000
$1,000 $500 $500 $-
$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median
Average
Redondo Beach JANUARY STATS Key Facts:
$978,000 Median Sold Price
$1,089,000
Average Sold Price
100
JAN. 2018
JAN. 2019
Median Price (in $,000)
$1,100
$978
-11%
Average Price Per Sq. Foot
$573
$641
12%
Properties for Sale
59
100 69%
Properties Pending Sales
53
77 45%
Properties Sold
45
40 -11%
Days on Market (Sold Homes) 50
39 -22%
Monthly Supply of Inventory
1.3
2.5 92%
Absorption Rate (closed sales) 76.3
40 -48%
Listings for Sale
77
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $1,400 $3,000 $1,200
40
% Change
$1,089 $978
$2,500 $1,000
$2,593
Listings Sold $2,000 $800 $1,655
39
Days On Market
$1,500 $600 $1,000 $400 $500 $200 $- $-
Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median
Average
Torrance JANUARY STATS Key Facts:
$785,000
Median Sold Price
$866,000
Average Sold Price
95
Median Price (in $,000)
$750
$785
5%
Average Price Per Sq. Foot
$495
$530
7%
Properties for Sale
61
95 56%
Properties Pending Sales
60
72 20%
Properties Sold
53
75 42%
Days on Market (Sold Homes)
36
42 17%
Monthly Supply of Inventory
1.2
1.3 8%
Absorption Rate (closed sales) 86.9 78.9 -9%
Listings for Sale
72
Listings Pending
JAN. JAN. % 2018 2019 Change
AVERAGE & MEDIAN PRICE $3,500 $1,400 $3,000 $1,200
75
Listings Sold
$2,593 $2,500 $1,000
$866
$2,000 $800
42
Days On Market
$785 $1,655
$1,500 $600 $1,000 $400 $500 $200 $-
$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median
Average
karysteve@gmail.com | 310.420.8833 A Portion of each closing is donated to the Childrens’ Miracle Network / Hospital LA
Lic# 00872041
Steve Kary