Vol. III Aug 2017
The SouthBay
Market Intelligence Report
Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Palos Verdes & Harbor real estate market. This report covers Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills and Rolling Hills Estates
Susan Corey (310) 874- 2286 coreograph@aol.com License # 01511313
RE/MAX Estate Properties 2601 Pacific Coast Hwy Hermosa Beach, CA 90245
700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 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 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 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
SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 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 Silicon BEACH WESTCHESTER 7131 W. Manchester Ave. Los Angeles, CA 90045 Phone: 310.802.6000
Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. This Market Intelligence Report monitors
El Segundo
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.
Gardena Hawthorne
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.
Hermosa Beach Lawndale Lomita Manhattan Beach
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.
Redondo Beach
Absorption rate (closed sales):
Torrance
Report Notes:
This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.
Reports published in August 2017 are based on data available at the end of July 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.
Photography courtesy of Brian Holm, AvenueEye.com
El Segundo July Stats
$1,010,000
Median Sold Price
Year Over Year
July July 2016 2017
Median Price
$1,325
$1,010
-24%
$641
$581
-9%
Average Price Per Sq. Foot
$1,067,000 Average Sold Price
18 Listings for Sale
Properties for Sale
25
18 -28%
Properties Pending Sales
11
11 0%
Properties Sold
14
15 7%
Days on Market (Sold Homes)
45
28 -38%
Monthly Supply of Inventory
1.8
1.2 -33%
Absorption Rate (closed sales)
56
83.3 49%
$1,600
11 Listings Pending
% Change
Avg. & Median Price by Month
$3,500 $1,400 $3,000 $1,200
$1,067
$1,010
$2,593
$2,500 $1,000
15 Listings Sold
28 Days On Market
$2,000 $800 $1,655 $1,500 $600
$400 $1,000 $200 $500 $$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017
Median
Average
Gardena July Stats Year Over Year
July July 2016 2017
% Change
Median Price
$420
$520
24%
Average Price Per Sq. Foot
$327
$350
7%
Properties for Sale
62
40 -35%
Properties Pending Sales
23
51 122%
Properties Sold
33
49 48%
Days on Market (Sold Homes)
39
18 -54%
Monthly Supply of Inventory
1.9
0.8 -58%
Absorption Rate (closed sales)
53.2
122.5 130%
$520,000
Median Sold Price
$488,000
Average Sold Price
40 Listings for Sale
Avg. & Median Price by Month $600 $3,500
$488
51
$520
$500 $3,000 $2,593
Listings Pending
$2,500 $400 $2,000 $300
$1,655
$1,500
Listings Sold
$200 $1,000
$100 $500
$-
49
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017
Median
Average
18 Days On Market
Hawthorne July Stats
$730,000
Median Sold Price
$683,000 Average Sold Price
50 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$584
$730
25%
Average Price Per Sq. Foot
$415
$453
9%
Properties for Sale
43
50 16%
Properties Pending Sales
35
43 23%
Properties Sold
34
37 9%
Days on Market (Sold Homes)
33
27 -18%
Monthly Supply of Inventory
1.3 1.4 8%
Absorption Rate (closed sales)
79.1 74 -6%
$800
43
July July 2016 2017
Avg. & Median Price by Month $683
$3,500 $700
$730
$3,000 $600 $2,593 $2,500 $500
37 Listings Sold
27 Days On Market
$2,000 $400
$1,655
$1,500 $300
$200 $1,000 $100 $500 $$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017
Median
Average
Hermosa Beach July Stats Year Over Year
July July 2016 2017
Median Price Average Price Per Sq. Foot
% Change
$1,410
$2,063
46%
$892
$857
-4%
Properties for Sale
63
54 -14%
Properties Pending Sales
26
16 -38%
Properties Sold
23
18 -22%
Days on Market (Sold Homes)
50
32 -36%
Monthly Supply of Inventory
2.7
3 11%
Absorption Rate (closed sales) 36.5
33.3 -9%
$3,500
Median Sold Price
$1,968,000 Average Sold Price
54 Listings for Sale
Avg. & Median Price by Month
16
$3,000 $3,500
$3,000 $2,500
$1,968 $2,593 $2,063
$2,500 $2,000 $2,000
$1,655
$1,500 $1,500
Listings Pending
18 Listings Sold
$1,000 $1,000
$500 $500 $- $-
$2,063,000
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 Median
Average
32 Days On Market
Lawndale July Stats
$530,000
Median Sold Price
$530,000
Average Sold Price
18 Listings for Sale
Year Over Year
July July 2016 2017
% Change
Median Price
$430
$530
23%
Average Price Per Sq. Foot
$312
$450
44%
Properties for Sale
19
18 -5%
Properties Pending Sales
16
11 -31%
Properties Sold
13
12 -8%
Days on Market (Sold Homes)
34
23 -32%
Monthly Supply of Inventory
1.5 1.5 0%
Absorption Rate (closed sales)
68.4 66.7 -2%
Avg. & Median Price by Month
11 Listings Pending
$530
$600 $3,500
$530
$500 $3,000 $2,593 $2,500 $400
12
$2,000 $300
Listings Sold
$200
23 Days On Market
$1,655
$1,500
$1,000
$100 $500 $$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017
Median
Average
Lomita July Stats Year Over Year
July July 2016 2017
% Change
Median Price
$620
$599
-3%
Average Price Per Sq. Foot
$369
$383
4%
Properties for Sale
22
14 -36%
Properties Pending Sales
19
17 -11%
Properties Sold
15
18 20%
Days on Market (Sold Homes)
41
28 -32%
Monthly Supply of Inventory
1.5
0.8 -47%
Absorption Rate (closed sales)
68.2
128.6 89%
$599,000
Median Sold Price
$598,000 Average Sold Price
14 Listings for Sale
Avg. & Median Price by Month $700 $3,500 $598 $600 $3,000
$599
$2,593
$500 $2,500 $400 $2,000
$1,655
$300 $1,500
Listings Pending
18 Listings Sold
$200 $1,000 $100 $500 $- $-
17
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 Median
Average
28 Days On Market
Manhattan Beach July Stats
$2,425,000
Median Sold Price
$2,622,000 Average Sold Price
115 Listings for Sale
Year Over Year
July July 2016 2017
Median Price
% Change
$2,255
$2,425
8%
Average Price Per Sq. Foot
$946
$975
3%
Properties for Sale
126 115 -9%
Properties Pending Sales
42
36 -14%
Properties Sold
31
41 32%
Days on Market (Sold Homes)
62
33 -47%
Monthly Supply of Inventory
4.1
2.8 -32%
Absorption Rate (closed sales)
24.6 35.7 45%
Avg. & Median Price by Month
36 Listings Pending
$4,000 $3,500 $3,500 $3,000 $2,622 $2,593
$3,000 $2,500 $2,500
41 Listings Sold
33 Days On Market
$2,425
$2,000 $2,000
$1,655
$1,500 $1,500 $1,000 $1,000
$500 $500 $$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017
Median
Average
Redondo Beach July Stats Year Over Year
July July 2016 2017
% Change
Median Price
$920
$1,000
9%
Average Price Per Sq. Foot
$541
$567
5%
Properties for Sale
126
102 -19%
Properties Pending Sales
69
99 43%
Properties Sold
83
81 -2%
Days on Market (Sold Homes)
44
20 -55%
Monthly Supply of Inventory
1.5
1.3 -13%
Absorption Rate (closed sales)
65.9
79.4 20%
$1,000,000
Median Sold Price
$1,032,000 Average Sold Price
102 Listings for Sale
Avg. & Median Price by Month $1,200 $3,500
$1,032 $1,000
$1,000 $3,000
$2,593
99 Listings Pending
$2,500$800 $2,000 $600
$1,655
$1,500
Listings Sold
$400 $1,000
$200 $500
$-
81
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 Median
Average
20 Days On Market
Torrance July Stats
$763,000
Median Sold Price
$820,000
Average Sold Price
128 Listings for Sale
Year Over Year
Listings Pending
% Change
Median Price
$696
$763
10%
Average Price Per Sq. Foot
$472
$487
3%
Properties for Sale
148
128 -14%
Properties Pending Sales
118
132 12%
Properties Sold
106
90 -15%
Days on Market (Sold Homes)
43
25 -42%
Monthly Supply of Inventory
1.4 1.4 0%
Absorption Rate (closed sales)
71.6 70.3 -2%
$1,000
132
July July 2016 2017
Avg. & Median Price by Month
$3,500 $900
$820
$3,000 $800
$763 $2,593
$700 $2,500 $600
90 Listings Sold
$2,000 $500
$1,655
$400 $1,500 $300 $1,000 $200
25 Days On Market
$500 $100 $-$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 Median
Average
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© 2015-17 RE/MAX Estate Properties
Susan Corey (310) 874- 2286 coreograph@aol.com License # 01511313
RE/MAX Estate Properties 2601 Pacific Coast Hwy Hermosa Beach, CA 90245