Maurice and Daniel Assayag Market Intelligence Report South Bay

Vol. 6 | June 2020

Market Intelligence Report South Bay Edition Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate communities

RE/MAX Estate Properties 600+ Local Agents • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

REALTOR® | DRE# 01762501

310.493.2100 Daniel@LiveInLA.net

www.LiveInLA.net

“Call us today, it’s your move!”

Vol. 6 | June 2020

Market Intelligence Report South Bay Edition Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate communities

RE/MAX Estate Properties 600+ Local Agents • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

REALTOR® | DRE# 01762501

310.493.2100 Daniel@LiveInLA.net

www.LiveInLA.net

“Call us today, it’s your move!”

SouthBay Market Intelligence SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the El SouthBay. Segundo..............................................................4

Hawthorne..............................................................5 El Segundo .............................................................3

Hermosa GardenaBeach......................................................6 .................................................................4 Lomita. ....................................................................7 Hawthorne .............................................................5 Hermosa Beach .....................................................7 Manhattan Beach...................................................8 Lawndale ...............................................................7 Palos Verdes Estates..............................................9 Lomita ....................................................................8

Rancho Palos Verdes............................................10 Manhattan Beach ..................................................9

Redondo RedondoBeach....................................................11 Beach ...................................................10 Rolling Hills. ..........................................................12 Torrance ...............................................................11 CarsonHills ..................................................................12 Rolling Estates..............................................13

San Pedro.............................................................14 Torrance................................................................15

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

REALTOR® | DRE# 01762501

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

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 June 2020 are based on data available at the end of May 2020. 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.

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

REALTOR® | DRE# 01762501

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

El Segundo MAY STATS Key Facts:

$1,133,000

Median Sold Price

$1,420,000

Average Sold Price

17

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,147

$1,133

-1%

Average Price Per Sq. Foot

$602

$723

20%

Properties for Sale

22

17

-23%

Properties Pending Sales

12

11

-8%

Properties Sold

25

6

-76%

Days on Market (Sold Homes)

62

19

-69%

Monthly Supply of Inventory

0.9

2.8

211%

Absorption Rate (Closed Sales) 113.6

35.3

-69%

Listings for Sale

AVERAGE & MEDIAN PRICE

$1,800

11

$1,600

Listings Pending

$3,500

$1,400

$3,000 $2,593

$1,200

6

$2,500

Listings Sold

$1,000

$2,000 $1,655

$800

$1,500

19

Days On Market

$600

$1,000 $400

$500

$200

$-

$May 2019

Jun Jul 2019 Aug 2019 2019

Sep 2019

Nov 2019

Median

Dec 2019

Jan 2020

Feb 2020

Mar 2020

Apr 2020

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

May 2020

Hawthorne MAY STATS Key Facts:

$694,000

Median Sold Price

$715,000

Average Sold Price

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$640

$694

8%

Average Price Per Sq. Foot

$487

$488

0%

Properties for Sale

53

43

-19%

Properties Pending Sales

39

31

-21%

Properties Sold

41

14

-66%

Days on Market (Sold Homes)

42

11

-74%

Monthly Supply of Inventory

1.3

3.1

138%

32.6

-58%

Absorption Rate (Closed Sales) 77.4

43

Listings for Sale

31

Listings Pending

AVERAGE & MEDIAN PRICE $3,500$900 $715

$800

$3,000

$694

$700

14

$2,593

$2,500$600

Listings Sold

$500

$2,000

$1,655

$400

$1,500

11

$300

Days On Market

$1,000$200 $100

$500 $-

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Hermosa Beach MAY STATS Key Facts:

$1,925,000 Median Sold Price

$2,608,000

Average Sold Price

56

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,243

$1,925

55%

Average Price Per Sq. Foot

$1,208

$1,095

-9%

Properties for Sale

56

56

0%

Properties Pending Sales

18

26

44%

Properties Sold

12

10

-17%

Days on Market (Sold Homes)

49

26

-47%

Monthly Supply of Inventory

4.7

5.6

19%

Absorption Rate (Closed Sales) 21.4

17.9

-16%

Listings for Sale

AVERAGE & MEDIAN PRICE $2,608

$3,000

26

Listings Pending

$3,500 $2,500

$3,000

10

$1,925

$2,593

$2,000

$2,500

Listings Sold $1,500 $2,000

$1,655 $1,500

26

$1,000

Days On Market

$1,000 $500

$500 $-

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Lomita MAY STATS Key Facts:

$700,000 Median Sold Price

$724,000

Average Sold Price

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$685

$700

2%

Average Price Per Sq. Foot

$451

$433

-4%

Properties for Sale

21

15

-29%

Properties Pending Sales

17

9

-47%

Properties Sold

13

11

-15%

Days on Market (Sold Homes)

33

34

3%

Monthly Supply of Inventory

1.6

1.4

-13%

73.3

18%

Absorption Rate (Closed Sales) 61.9

15

Listings for Sale

9

Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $900 $724

$800 $3,000

$700

$2,593

$700

11

$2,500 $600

Listings Sold

$2,000 $500 $1,655 $400

$1,500

34

Days On Market

$300

$1,000 $200 $100

$500

$-

$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Manhattan Beach MAY STATS Key Facts:

$2,562,000 Median Sold Price

$2,642,000 Average Sold Price

131

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$2,499

$2,562

3%

Average Price Per Sq. Foot

$1,107

$1,078

-3%

Properties for Sale

128

131

2%

Properties Pending Sales

37

33

-11%

Properties Sold

45

20

-56%

Days on Market (Sold Homes)

44

36

-18%

Monthly Supply of Inventory

2.8

6.6

136%

Absorption Rate (Closed Sales) 35.2

15.3

-57%

Listings for Sale

33 Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,000 $3,500

20

$2,642 $2,593 $2,562

$3,000 $2,500

Listings Sold

$2,500 $2,000

$1,655

$2,000

36

Days On Market

$1,500 $1,500 $1,000 $1,000 $500 $500 $- $-

May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Jan Feb Mar Apr 2020 2020 2020 2020

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

May 2020

Palos Verdes Estates MAY STATS Key Facts:

$2,500,000

Median Sold Price

$2,500,000

Average Sold Price

55

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,988

$2,500

26%

Average Price Per Sq. Foot

$802

$545

-32%

Properties for Sale

89

55

-38%

Properties Pending Sales

20

15

-25%

Properties Sold

14

1

-93%

Days on Market (Sold Homes)

48

62

29%

Monthly Supply of Inventory

6.4

55

759%

Absorption Rate (Closed Sales) 15.7

1.8

-89%

Listings for Sale

15

Listings Pending

AVERAGE & MEDIAN PRICE $3,000 $3,500

$2,500 $2,500

$2,500 $3,000

$2,593

1

$2,500 $2,000

Listings Sold $2,000 $1,500

62

Days On Market

$1,655

$1,500 $1,000 $1,000 $500 $500 $$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Rancho Palos Verdes MAY STATS Key Facts:

$1,302,000 Median Sold Price

$1,492,000

Average Sold Price

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,478

$1,302

-12%

Average Price Per Sq. Foot

$590

$567

-4%

Properties for Sale

128

78

-39%

Properties Pending Sales

55

43

-22%

Properties Sold

50

26

-48%

Days on Market (Sold Homes)

42

71

69%

Monthly Supply of Inventory

2.6

3

15%

33.3

-15%

Absorption Rate (Closed Sales) 39.1

78

Listings for Sale

43

Listings Pending

AVERAGE & MEDIAN PRICE $1,800 $3,500

$1,492

$1,600 $3,000 $1,400

$1,302 $2,593

26

$2,500 $1,200

Listings Sold

$1,000 $2,000 $1,655

$800 $1,500

71

Days On Market

$600 $1,000 $400 $200 $500 $$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Redondo Beach MAY STATS Key Facts:

$1,028,000 Median Sold Price

$1,085,000

Average Sold Price

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,073

$1,028

-4%

Average Price Per Sq. Foot

$626

$601

-4%

Properties for Sale

108

97

-10%

Properties Pending Sales

90

51

-43%

Properties Sold

80

46

-43%

Days on Market (Sold Homes)

32

20

-38%

Monthly Supply of Inventory

1.4

2.1

50%

47.4

-36%

Absorption Rate (Closed Sales) 74.1

97

Listings for Sale

51

Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,085

$1,400 $3,000

$2,593 $1,028

$1,200 $2,500

46

Listings Sold

$1,000 $2,000 $800

$1,655

$1,500 $600

20

Days On Market

$1,000 $400 $200 $500 $$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Rolling Hills MAY STATS Key Facts:

MAY 2019

MAY 2020

% Change

$3,800

$3,395

-11%

$1,101

$1,087

-1%

Properties for Sale

17

10

-41%

Properties Pending Sales

2

1

-50%

Properties Sold

1

1

0%

Days on Market (Sold Homes)

317

37

-88%

Monthly Supply of Inventory

17

10

-41%

Absorption Rate (Closed Sales) 5.9

10

69%

Median Price (in $1,000)

$3,395,000

Median Sold Price

$3,395,000

Average Sold Price

10

Average Price Per Sq. Foot

Listings for Sale

1

AVERAGE & MEDIAN PRICE $4,500

Listings Pending

$3,395

$3,500 $4,000

$3,395

$3,000 $3,500

1

$2,593

$3,000 $2,500

Listings Sold

$2,500 $2,000 $1,655

$2,000 $1,500 $1,500

37

Days On Market

$1,000 $1,000 $500 $500 $$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Rolling Hills Estates MAY STATS Key Facts:

$1,400,000 Median Sold Price

$1,556,000

Average Sold Price

62

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,360

$1,400

3%

Average Price Per Sq. Foot

$584

$614

5%

Properties for Sale

65

62

-5%

Properties Pending Sales

34

17

-50%

Properties Sold

28

13

-54%

Days on Market (Sold Homes)

19

15

-21%

Monthly Supply of Inventory

2.3

4.8

109%

Absorption Rate (Closed Sales) 43.1

21

-51%

Listings for Sale

17

Listings Pending

AVERAGE & MEDIAN PRICE $1,800 $3,500

$1,556

$1,600 $3,000 $1,400

$1,400 $2,593

13

$2,500 $1,200

Listings Sold

$1,000 $2,000 $1,655

$800

15

Days On Market

$1,500 $600 $1,000 $400 $200 $500 $$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

San Pedro MAY STATS Key Facts:

$590,000

Median Sold Price

$631,000

Average Sold Price

MAY 2019 $594

$590

-1%

Average Price Per Sq. Foot

$423

$402

-5%

Properties for Sale

88

73

-17%

Properties Pending Sales

64

46

-28%

Properties Sold

58

36

-38%

Days on Market (Sold Homes)

35

50

43%

Monthly Supply of Inventory

1.5

2

33%

49.3

-25%

Listings for Sale

46

Listings Pending

% Change

Median Price (in $1,000)

Absorption Rate (Closed Sales) 65.9

73

MAY 2020

AVERAGE & MEDIAN PRICE $3,500 $800 $631

$700 $3,000

$590 $2,593

$600 $2,500

36

Listings Sold

$500 $2,000 $400

$1,655

$1,500 $300

50

Days On Market

$1,000 $200 $100 $500 $$-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

Torrance MAY STATS Key Facts:

$858,000

Median Sold Price

$917,000

Average Sold Price

MAY 2019 $810

$858

6%

Average Price Per Sq. Foot

$538

$561

4%

Properties for Sale

136

118

-13%

Properties Pending Sales

109

90

-17%

Properties Sold

104

46

-56%

Days on Market (Sold Homes)

22

22

0%

Monthly Supply of Inventory

1.3

2.6

100%

39

-49%

Listings for Sale

90

Listings Pending

% Change

Median Price (in $1,000)

Absorption Rate (Closed Sales) 76.5

118

MAY 2020

AVERAGE & MEDIAN PRICE $1,000 $3,500 $917 $950 $3,000 $2,593

46

$2,500 $900

Listings Sold

$858

$2,000 $850

22

Days On Market

$1,655

$1,500 $800 $1,000 $750 $500 $700 $-

Median

Average

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

REALTOR® | DRE# 01762501

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

RE/MAX Estate Properties • 600+ Local Agents • 13 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

WEST LOS ANGELES 10931 W. Pico Blvd.

Los Angeles, CA 90064

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

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

REALTOR® | DRE# 01762501

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

CONNECT WITH US:

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MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

REALTOR® | DRE# 01762501

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

310.493.2100 www.LiveInLA.net

Daniel@LiveInLA.net

“Call us today, it’s your move!”

MAURICE ASSAYAG

DANIEL ASSAYAG

Top Producer

Top Producer

BROKER ASSOCIATE | DRE# 00645041

36 YEARS IN THE SOUTH BAY

310.717.4432

mauricerealtor@gmail.com

REALTOR® | DRE# 01762501

310.493.2100 Daniel@LiveInLA.net

www.LiveInLA.net

“Call us today, it’s your move!”