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!”