M A R K E T I N S I G H T R E P O R T P U B L I S H E D
D E C E M B E R ,
2 0 1 5
Designed to give you a quick, complete overview of both current and past market conditions, this South Bay Market Insight report covers select regions in the South Bay and Greater Los Angeles regions.
M A R K E T I N S I G H T R E P O R T S B Y S H O R E W O O D R E A L T O R S
First , we resea rc h Yea r O ver Yea r st ati sti cs , co m p i l ed f rom ca ref u lly colle c te d sa les d at a . Percent c h a nge —w h ic h wa s ca l cu l ated by s u bt ra cti ng pa st val ue f ro m curre nt va lue, a n d d i v i d i ng t h at p ro d u ct by pa st va l u e —g ives yo u a q uic k sn a psh ot of h ow ea ch m i cro - m a r ket h a s i m p roved or wo rsen e d ove r th e pa st yea r fo r t h at pa r ti cu l a r m et r i c. Yea rl y Me dia n P rice g ra p h t ra cks t h e m ed i a n p r i ce of p ro p er ties fo r ea c h month ove r th e pa st yea r. Th e m ed i a n p r i ce i s n ot th e sa me a s ave ra ge price ; it i s t h e p r i ce of t h e p ro p er t y t h at fa l l s in t he middle of th e tot a l n u m b er of p ro p er ti es fo r s a l e i n t h at pa rticu la r mic ro - ma rket . Key St ats se c tion illustrates Med i a n S a l es P r i ce, Avera ge S al es Price of Close d S a les, Listi ng s fo r S a l e, L i sti ng s Un d er Co nt ract , a nd Prope rties S old. On t he n ext pa ge you w i l l fi n d a n ex p l a n ati o n of h ow ea ch val ue wa s d ete rmin e d.
O F F I C E
L O C A T I O N S
16 Ma la ga Cove Pla za
4 31 Ma in St reet
33 00 Hi gh la n d Ave
Pa los Ve rdes Estates, CA 9 0274
El S eg u n d o, CA 9 024 5
Ma n h a t ta n Be a c h , CA 9026 6
310.698.15 5 5
31 0. 322 .49 0 0
310. 5 4 6.75 61
9 1 6 Ma nha tta n Ave nu e
2141 Rosecra n s Avenue, Ste. 116 0
1009 Tor ra n ce Bou levard
Ma n h a t ta n B e a ch, CA 9 026 6
El S eg u n d o, CA 9 024 5
Re d on d o Bea c h , CA 9 027 7
310. 3 49. 3 00 0
31 0. 3 49. 3 0 00
31 0. 316.8 4 6 4
D E S C R I P T I O N S O F K E Y M A R K E T I N D I C A T O R S
MEDIAN PRICE: Not to be confused with Average Price, Median Price is the price of the property that falls in the middle of the total number of properties for sale in that particular micro-market. Extremely high and extremely low prices do not affect the median the way they do the average. 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 in the area that month. PROPERTIES SOLD: The number of properties that closed escrow and changed ownership during the month. PROPERTIES UNDER CONTRACT: The number of properties that are in escrow. PROPERTIES FOR SALE: The number of properties that are for sale on the market. DAYS ON MARKET (CLOSED SALES): The average number of days that properties were on the market, from date of initial listing to date they entered escrow. MONTHS SUPPLY OF INVENTORY: The number of months it would take for all the current homes for sale in that micro-market to sell if no new listings were added. 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. Four to five months’ supply is average. A smaller number means there are more buyers than sellers; a larger number means more sellers than buyers. ABSORPTION RATE (CLOSED SALES): This is the rate at which properties sell. It is found by taking the number of properties sold and dividing it by the total number of properties for sale. This measures the inverse of Monthly Supply of Inventory and represents how much of the current active listings (as a percentage) are being absorbed (sold or pended) each month. The Absorption Rate is presented as a percentage (%) of the current inventory. PERCENT UNDER CONTRACT: The ratio of properties for sale to properties pending sale. AVERAGE MEDIAN PRICE: The Average Median Price for the Last 12 Months is sales data from 12 months ending in the identified month LEGAL All reports are published December 2015, based on data available at the end of November 2015. All reports presented are based on data supplied by the CARETS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
$1,984,615 $2,319,769
52 18 28
1700
2184
28.47%
39
28
-28.21%
52
48.57%
1.9
111.11%
838
18 35 44
0.9
111.4
1077
18 66
53.8
28.52%
0.00%
50.00%
-51.71%
$1,470,000 $1,792,846
25 12 20
1553
1838
18.35%
16
20
25.00%
771
14 18 64
1.1
88.9
934
21.14%
12
-14.29%
58
-9.38%
25 1.3 80
38.89%
18.18%
-10.01%
$937,846
$1,047,692
44 27 26
880
963
9.43%
45
26
-42.22%
44
12.82%
525
19 39 64
0.9
115.4
553
27
5.33%
42.11%
46
-28.13%
59.1
-48.79%
1.7
88.89%
$810,000 $825,000 28 16 49
670
820
22.39%
42
49
16.67%
428
33 37 65
0.9
113.5
468
9.35%
16
-51.52%
61
-6.15%
28 0.6
175
-24.32% -33.33% 54.19%
$1,092,000 $1,235,923
91 28 42
1200
1156
-3.67%
33
42
27.27%
100
91
-9.00%
3
2.2
518
27 84 33
529
28
2.12%
3.70%
62
-26.19%
46.2
40.00%
-26.67%
$1,681,462 $2,132,000
45
7
15
1400
1610
15.00%
9
15
66.67%
622
11
686
7
-36.36%
58
-25.64%
33.3
77.13%
48
45
5.3
3
78
18.8
10.29%
-6.25%
-43.40%
$783,769 $771,385 29 24 24
812
773
-4.80%
25
24
-4.00%
440
20 38 61
1.5
65.8
444
24
0.91%
20.00%
29
-23.68%
1.2
-20.00%
54
82.8
-11.48%
25.84%
$679,000 $675,308 25 18 26
601
805
33.94%
20
26
30.00%
25
-13.79%
1
-33.33%
394
16 29 70
1.5
69
425
18 53
104
7.87%
12.50%
-24.29% 50.72%
$883,077 $903,692 12
6 9
735
999
35.92%
13
9
-30.77%
12
12
0.00%
0.9
1.3
475
13 76
108.3
526
6
69
75
10.74%
-53.85% -9.21%
44.44%
-30.75%
$503,615 $515,308 33 30 31
516
510
-1.16%
33
31
-6.06%
364
20 66 49
2
50
381
30
4.67%
50.00%
33
-50.00%
1.1
-45.00%
51
93.9
4.08%
87.80%
$1,470,000 $1,792,846
25 12 20
1553
1838
18.35%
16
20
25.00%
771
14 18 64
1.1
88.9
934
21.14%
12
-14.29%
58
-9.38%
25 1.3 80
38.89%
18.18%
-10.01%
$2,166,000 $3,960,154
62
8 8
1623
2218
36.66%
28
8
-71.43%
132
62
-53.03%
4.7
7.8
65.96%
952
8
67
21.2
872
8
79
12.9
-8.40%
0.00%
17.91%
-39.15%
$1,163,154 $1,286,923
40 16 20
955
999
4.61%
35
20
-42.86%
40
-39.39%
2
5.26%
605
12 66 60
1.9
53
660
16 61 50
9.09%
33.33% 1.67%
-5.66%
$2,397,846 $4,065,923
160
33 39
2925
2500
-14.53%
59
39
-33.90%
319
160
-49.84%
5.4
4.1
-24.07%
1107
23 98
18.5
1226
33 68
24.4
10.75%
43.48%
-30.61%
31.89%
$2,577,231 $3,612,615
71
9
12
3225
2103
-34.79%
27
12
-55.56%
155
71
-54.19%
5.7
5.9
3.51%
770
10
110 17.4
900
9
84
16.9
16.88%
-10.00%
-23.64%
-2.87%
$937,538
$1,045,000
30 17 24
775
810
40
24
-40.00%
30
-36.17%
1.3
8.33%
525
13 47 42
1.2
85.1
604
17 63
80
4.52%
15.05%
30.77% 50.00%
-5.99%
$1,362,077 $2,173,154
100
40 31
1775
1478
-16.73%
79
31
-60.76%
133
100
-24.81%
1.7
3.2
88.24%
799
29 57
59.4
1022
40 59
31
27.91%
37.93% 3.51%
-47.81%
$621,462 $658,769 73 47 73
596
692
16.11%
81
73
-9.88%
406
54
427
47
5.17%
-12.96%
108
73
-32.41%
1.3
1
-23.08%
59 75
50
100
-15.25% 33.33%
$1,703,385 $1,754,846
12
4 5
1675
1623
9
5
-44.44%
13
12
-7.69%
1.4
2.4
672
7
41
69.2
783
4
-3.10%
16.52%
-42.86%
31
-24.39%
41.7
-39.74%
71.43%
$677,000 $752,154 23 28 48
708
808
14.12%
62
48
-22.58%
23
-68.49%
489
38 73 44
1.2
84.9
597
28 51
0.5
208.7
22.09%
-26.32% 15.91%
-58.33%
145.82%
$711,154
$1,022,231
107
55 56
678
652
-3.83%
80
56
-30.00%
156
107
-31.41%
2
1.9
-5.00%
396
46 72
51.3
433
55 54
52.3
9.34%
19.57%
-25.00%
1.95%
$417,231 $442,077 43 15 15
408
415
22
15
-31.82%
43
43.33%
292
16 30 86
1.4
73.3
337
15 59
2.9
34.9
1.72%
15.41%
-6.25%
-31.40%
107.14% -52.39%
$694,385 $733,692 26 12 22
708
696
16
22
424
13 26 43
1.6
61.5
-1.69%
512
20.75%
12
-7.69%
26 58
1.2
84.6
37.50% 0.00%
34.88%
-25.00% 37.56%
$750,769 $750,769 2 1 2
1231
419
-65.96%
2
2
0.00%
834
0 3
548
1 2
-34.29%
#DIV/0!
-33.33%
58
33
-43.10%
66.7
100
49.93%
1.5
1
-33.33%
$754,769 $856,000 54 21 19
626
670
7.03%
31
19
-38.71%
54
-8.47%
469 14 59
113 1.9
52.5
511
21
8.96%
50.00%
63
-44.25%
35.2
-32.95%
2.8
47.37%
$754,769 $856,000 54 21 19
626
670
7.03%
31
19
-38.71%
54
-8.47%
469 14 59
113 1.9
52.5
511
21
8.96%
50.00%
63
-44.25%
35.2
-32.95%
2.8
47.37%
$450,308 $442,231 22
8
14
415
463
11.57%
17
14
-17.65%
19
22
15.79%
1.1
1.6
326
9
60
89.5
325
8
95
63.6
-0.31%
-11.11% 58.33%
45.45%
-28.94%
$2,074,538 $2,936,923
208
23 25
2150
2600
20.93%
53
25
-52.83%
386
208
-46.11%
7.3
8.3
13.70%
901
24
136 13.7
1241
23
124
12
37.74%
-4.17%
-8.82%
-12.41%
$915,231
$1,110,154
49 22 26
760
884
16.32%
66
26
-60.61%
49
-50.00%
1.9
26.67%
543
17 98 68
1.5
67.3
548
22 61
53.1
0.92%
29.41%
-10.29%
-21.10%
$505,077 $543,846 72 43 40
477
570
19.50%
52
40
-23.08%
100
72
-28.00%
1.9
1.8
-5.26%
305
32 81 52
382
43 53
55.6
25.25%
34.38%
-34.57%
6.92%
$524,692 $557,077 44 15 14
470
610
29.79%
39
14
-64.10%
44
-38.89%
380
19 72 79
1.8
54.2
387
15 59
3.1
31.8
1.84%
-21.05% -25.32%
72.22%
-41.33%
$541,692 $609,846 60 23 32
533
584
9.57%
32
32
0.00%
375
24 81 57
2.5
39.5
391
23
4.27%
-4.17%
60
-25.93%
1.9
-24.00%
64
53.3
12.28%
34.94%
$2,435,615 $2,932,077
77 16 29
1930
2595
34.46%
35
29
-17.14%
124
77
-37.90%
3.5
2.7
-22.86%
821
16 55
28.2
920
16 83
37.7
12.06%
0.00%
50.91%
33.69%
$1,015,846 $1,096,231
31 31 43
919
975
77
43
-44.16%
31
-62.20%
585
36 82 61
1.1
93.9
668
31 57
0.7
138.7
6.09%
14.19%
-13.89% -6.56%
-36.36% 47.71%
$597,615 $824,769 18
6
11
509
650
27.70%
20
11
-45.00%
31
18
-41.94%
1.6
1.6
0.00%
497
8
72
64.5
510
6
36
61.1
2.62%
-25.00%
-50.00%
-5.27%
$887,308
$1,037,308
7 5 4
753
1242
64.94%
12
4
-66.67%
7
-22.22%
496
8 9
93
0.8
133.3
666
5
35
1.8
57.1
34.27%
-37.50%
-62.37%
125.00% -57.16%
$353,385 $349,308 25 16 11
313
355
13.42%
14
11
-21.43%
25
-7.41%
261
15 27 81
1.9
51.9
267
16
2.30%
6.67%
39
-51.85%
44
-15.22%
2.3
21.05%
$674,462 $715,538 61 25 28
730
654
-10.41%
30
28
-6.67%
400
18 75 55
2.5
40
398
25
-0.50%
38.89%
61
-18.67%
2.2
-12.00%
57
45.9
3.64%
14.75%
$2,277,308 $2,557,308
33
6
11
2035
2139
5.11%
8
11
37.50%
831
2
833
6
200.00%
46
21.05%
26
33
3.3
3
38
30.8
0.24%
33.3
26.92%
-9.09% 8.12%
$459,000 $493,154 106
35 62
463
498
41
62
319
43
7.56%
352
10.34%
35
-18.60%
51.22%
134
106
-20.90%
3.3
1.7
-48.48%
72
30.6
74
58.5
2.78%
91.18%
$279,308 $282,231 8 3 5
226
325
43.81%
1
5
400.00%
8
-52.94%
107
2
17
175
17
5.9
134
3
25.23%
50.00%
64
-63.43%
62.5
959.32%
1.6
-90.59%
$726,077 $904,462 131
54 77
667
815
22.19%
117
77
-34.19%
174
131
-24.71%
1.5
1.7
13.33%
426 52 63
67.2
445 54 62
58.8
4.46% 3.85%
-1.59%
-12.50%
$884,231 $936,923 15
8
18
735
904
22.99%
9
18
100.00%
21
15
-28.57%
2.3
0.8
460
13 70
42.9
457
8
59
120
-0.65%
-38.46% -15.71%
-65.22%
179.72%
$936,231
$1,071,154
98 34 47
915
970
45
47
457
27
6.01%
527
15.32%
34
25.93%
4.44%
128
98
-23.44%
2.8
2.1
-25.00%
61
35.2
58
48
-4.92%
36.36%
$447,538 $466,692 21
7
20
380
443
16.58%
14
20
42.86%
301
16
335
7
-56.25%
44
-24.14%
27
21
1.9
1.1
58
51.9
11.30%
95.2
-22.22% -42.11% 83.43%
$703,615 $947,462 19
5 9
710
645
21
9
-57.14%
27
19
-29.63%
1.3
2.1
61.54%
411
7
54
77.8
504
5
52
47.4
-9.15%
22.63%
-28.57% -3.70%
-39.07%
$1,611,615 $1,794,769
62 12 21
1652
1600
39
21
-46.15%
102
62
-39.22%
2.6
3
15.38%
909
9
62
38.2
1049
12
50
33.9
-3.15%
15.40%
33.33%
-19.35%
-11.26%
$689,077 $865,000 70 30 37
754
815
58
37
-36.21%
140
70
-50.00%
2.4
1.9
-20.83%
704
29 55
41.4
839
30 67
52.9
8.09%
19.18%
3.45%
21.82%
27.78%
$765,308 $812,077 26 22 35
715
830
16.08%
27
35
29.63%
26
-23.53%
0.7
-46.15%
555
22 34 56
1.3
79.4
566
22 64
134.6
1.98%
0.00%
14.29%
69.52%
$854,231 $877,231 5 7 9
800
965
20.63%
9
9
0.00%
538
2 8
49
0.9
112.5
514
-4.46%
7
250.00%
58
18.37%
5
0.6
180
-37.50% -33.33% 60.00%