Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | January 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
Rancho Palos Verdes
Palos Verdes Peninsula
Rolling Hills Rolling Hills Estates
RE/MAX Estate Properties 700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International
Sunny Rahmani (310) 977-2345
srahmani@pvexecs.com www.sunnyrahmani.com Lic# 01411242
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 January 2018 are based on data available at the end of December 2017. 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 December Stats Key Facts:
$1,787,000
Median Sold Price
$2,122,000
Average Sold Price
38
Dec. Dec. % 2016 2017 Change
Median Price
$1,687
$1,787
6%
$755
$748
-1%
Average Price Per Sq. Foot Properties for Sale
37
38 3%
Properties Pending Sales
13
13 0%
Properties Sold
16
11 -31%
Days on Market (Sold Homes)
62
41 -34%
Monthly Supply of Inventory
2.3
3.5 52%
Absorption Rate (closed sales) 43.2
28.9 -33%
Listings for Sale
13
Listings Pending
Average & Median Price $3,000
$3,500 $2,500
$3,000
11
$2,122
$2,593 $2,500 $2,000 $1,787
Listings Sold $2,000 $1,500
41
Days On Market
$1,655
$1,500 $1,000
$1,000 $500 $500
$-
$-
Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017
Median
Average
Rancho Palos Verdes December Stats Key Facts:
$1,170,000
Median Sold Price
$1,486,000
Average Sold Price
77
Dec. Dec. 2016 2017
Median Price
$1,210
$1,170
-3%
Average Price Per Sq. Foot
$553
$571
3%
Properties for Sale
85
77 -9%
Properties Pending Sales
32
27 -16%
Properties Sold
47
42 -11%
Days on Market (Sold Homes)
55
58 5%
Monthly Supply of Inventory
1.8
1.8 0%
Absorption Rate (closed sales) 55.3 54.5 -1%
Listings for Sale
27
Listings Pending
% Change
Average & Median Price $3,500
$1,486
$1,600
$3,000 $1,400
42
Listings Sold
$1,170
$1,200 $2,500
$2,593
$1,000
$2,000 $1,655 $800
58
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$-
$-
Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017
Median
Average
Rolling Hills December Stats Key Facts:
N/A
Median Sold Price
N/A
Average Sold Price
24
Dec. Dec. % 2016 2017 Change
Median Price
$4,555
N/A -100%
Average Price Per Sq. Foot
$1,192
N/A
Properties for Sale
18
24 33%
Properties Pending Sales
2
3 50%
Properties Sold
2
0 -100%
Days on Market (Sold Homes)
28
N/A -100%
Monthly Supply of Inventory
9
24 167%
Absorption Rate (closed sales)
11.1
N/A -100%
Listings for Sale
3
Listings Pending
-100%
Average & Median Price $3,500 $5,000
$4,500 $3,000
0
Listings Sold
$4,000
$2,593
$2,500 $3,500
$3,000 $2,000
$1,655
$2,500
N/A
Days On Market
$1,500 $2,000
$1,000 $1,500 $1,000
$500
$500
$$-
$-
$-
Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017
Median
Average
Rolling Hills Estates December Stats Key Facts:
$825,000
Median Sold Price
$1,050,000
Average Sold Price
9
Dec. Dec. 2016 2017
Median Price
$1,428
$825
-42%
Average Price Per Sq. Foot
$536
$534
0%
Properties for Sale
20
9 -55%
Properties Pending Sales
9
7 -22%
Properties Sold
11
9 -18%
Days on Market (Sold Homes)
57
41 -28%
Monthly Supply of Inventory
1.8
1 -44%
Absorption Rate (closed sales)
55
Listings for Sale
7
Listings Pending
% Change
100 82%
Average & Median Price $1,600
$3,500
$1,400
$3,000
9
Listings Sold
$2,593
$1,200
$2,500
$1,050
$1,000
$2,000
$825
$800
41
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$-
$Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017
Median
Average
$1,655
RE/MAX Estate Properties • 700+ Local Agents • 17 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401
HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254 SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
EL SEGUNDO 402 Main Street El Segundo, CA 90245
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275
MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG ELES | SOUT H BAY| www.REMAXC IR.com
LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071
SOUTH BAY 23001 Hawthorne Blvd., Suite 205 Torrance, CA 90505
Sunny Rahmani (310) 977-2345
srahmani@pvexecs.com www.sunnyrahmani.com Lic# 01411242