A n c h ore d I n Th e S o u t h Bay
SOUTH BAY
Market MarketIntelligence IntelligenceReport Report
D E B B I E M A XW E L L A L L EN
Volume8 8| November | October 2022 Volume 2022
REALTOR® | DRE# 01146109
310.8 7 2 . 4 1 6 4
Debbie@AnchoredInTheSouthBay.com AnchoredInTheSouthBay.com
63 Malaga Cove Plaza Palos Verdes Estates CA 90274 USA
SOUTH BAY MARKETS Carson
4
El Segundo
6
Gardena
8
Hawthorne
10
Hermosa Beach
12
Hollywood Riviera
14
Lawndale
16
Lomita
18
Manhattan Beach
20
Redondo Beach
22
Torrance
24
REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.
PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.
PROPERTIES FOR SALE: The total number of available properties for sale.
DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.
SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from the previous month exceed current inventory.
The South Bay Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.
CARSON Located just 13 miles south of downtown Los Angeles, Carson is the newest incorporated city in the South Bay region. Carson is home to California State University, Dominguez Hills. With more than 120 acres of green space dedicated to outdoor recreation and an expansive sports complex for soccer, tennis, and track and field, Carson offers plentiful opportunities to soak in the California sunshine. Bordered by West Rancho Dominguez, Compton, Rancho Dominguez, and Long Beach, Carson residents enjoy close proximity to South Bay beaches and industrial and tech hubs while offering a warm and inviting suburban lifestyle.
ATTRACTIONS •
Carson Park
•
Dignity Health Sports Park
•
International Printing Museum
RESTAURANTS •
Gnome Village
•
Rosario's Italian Restaurant
•
Darrow's New Orleans Grill
•
Go Kart World
•
Chinollo
•
Back Home in Lahaina
•
Anderson Park
•
Hiccups Tea House
•
Orleans & York Deli
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
87
35
$699K
8
$496
40%
60
45
$715K
10
$460
75%
+45%
-22%
-2%
-20%
+8%
-46%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $715,000
60
45
Oct-21
$720,000
49
43
Nov-21
$720,500
40
40
Dec-21
$726,000
44
$705,000
58 37
Jan-22
$776,944
53
52
$737,500
59
48
Mar-22
Apr-22
$830,000
37
May-22
$795,900
86
84
70
28
Feb-22
$790,000
33
Jun-22
$747,500
Jul-22
44
Aug-22
$699,000
87
78
74 32
$677,500
34
Sep-22
35
Oct-22
EL SEGUNDO If beachside living and small-town charm with a growing community of businesses sound appealing, look no further than El Segundo. This hidden beachside gem is quickly becoming an economic powerhouse. With the Los Angeles Airport (LAX) right next door and easy connections to major freeways and metro stops, local and global travel is a breeze. Recognized as the aerospace capital of the world, this community is home to leaders in aerospace and defense, bioscience, information technology, energy, and creative media. El Segundo also offers thriving cultural experiences in sports, culture, fine dining, and more.
ATTRACTIONS
RESTAURANTS •
•
Dockweiler Beach
•
R6 Distillery
•
Old Town Music Hall
•
Automobile Driving Museum •
•
The Lakes at El Segundo
•
El Segundo Parks & Rec
•
Jame Enoteca
•
Britt's BBQ
Ali'i Fish Company
•
Ensenada's Surf & Turf
Caló Kitchen + Tequila
•
Salt Creek Grille
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
14
12
$1.59M
27
$1,013
86%
21
7
$925K
13
$724
33%
-33%
+71%
+72%
+108%
+40%
+157%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $2,052,500
$1,890,000 $1,700,000
$1,700,000 $1,505,000
$1,170,000 $925,000
$1,592,500
$1,530,000 $1,300,000
$1,143,000
$1,100,000 $720,000
72
21 7 Oct-21
14
20
Nov-21
14
9
Dec-21
9
9
Jan-22
12
9
Feb-22
20
11
Mar-22
16
13
Apr-22
16
20
May-22
18
24 8
Jun-22
31
15
11
Jul-22
Aug-22
9
Sep-22
14
12
Oct-22
GARDENA Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes from downtown Los Angeles and 20 minutes from Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without its own activities, Gardena has several parks, enticing restaurants, two card rooms, and more. Between the city and Torrance to the south, there are many opportunities for employment in industrial industries. Gardena also boasts easy freeway access to the 110, 105, and 405; residents are able to travel, and explore all that Los Angeles has to offer.
ATTRACTIONS
RESTAURANTS
•
Rowley Memorial Park
•
Arthur Lee Johnson Park
•
Spoon House Bakery
•
Jin Jja Roo
•
Thornburg Park
•
Gardena Bowl
•
Kotohira Restaurant
•
Fukagawa
•
Mas Fukai Park
•
Alondra Golf Course
•
O' Young's Rock Pot
•
Grand Fish Tacos & Ceviche
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
68
32
$746K
19
$572
47%
46
46
$715K
9
$484
100%
+48%
-30%
+4%
+111%
+18%
-53%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS
$715,000
46
46
$708,000
49
$725,000
Nov-21
$767,500
$825,000 $760,000
47
45 30
Oct-21
$765,000
30
Dec-21
33
30
Jan-22
28
28
Feb-22
37
Mar-22
50
$790,000
$752,500
65
58 38
Apr-22
44
31
May-22
$770,000
40
Jun-22
29
Jul-22
$720,000
$742,903
$746,000
72
69
68
31
Aug-22
21
Sep-22
32
Oct-22
HAWTHORNE Founded in 1905 and incorporated in 1922, Hawthorne is pleasantly nestled in the South Bay with easy access to work, travel, and play. Surrounded by the 405, 110, and 105 freeways, residents have easy access to all that Greater Los Angeles has to offer. Hawthorne boasts several top companies, including SpaceX, Tesla, The Boring Company, Northrop Corporation, OSI Systems, and Century Media Records. For those looking for a family-oriented neighborhood in a thriving community, Hawthorne is a great place to call home.
ATTRACTIONS
RESTAURANTS
•
Eucalyptus Skate Park
•
Hawthorne Memorial Park
•
Bossa Nova
•
India's Tandoori Halal
•
Jim Thorpe Park
•
•
Zacatecas
•
Common Space Brewery
•
Star Helicopters
Hawthorne Municipal Airport
•
Hummus House
•
Los Angeles Ale Works
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
70
15
$928K
11
$726
21%
47
43
$810K
15
$610
91%
+49%
-65%
+15%
-27%
+19%
-77%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS
$810,000
47
43
Oct-21
$822,500
40
32
Nov-21
$900,000
26
31
Dec-21
$980,000 $875,000
28 14 Jan-22
$803,000
25
24
Feb-22
$985,000
$875,000
23
31
Mar-22
36
$938,500
57
45 27
25
Apr-22
May-22
$887,000
Jun-22
24
Jul-22
$927,500
70
62
58
52 23
$940,000 $805,000
31
Aug-22
26
Sep-22
15 Oct-22
HERMOSA BEACH Hermosa Beach is home to the casual surfer lifestyle, twenty parks, and 1.8 miles of Pacific Ocean perfection. Nestled between Redondo Beach and Manhattan Beach, residents in Hermosa Beach can often be found enjoying favorite coastal pastimes, walking along the pier, playing outdoor sports such as tennis and baseball, enjoying fresh produce at the Farmer's Market, or trying new fare at one of the many restaurants. Area real estate is almost exclusively single-family homes, often designed with floor-to-ceiling windows to take advantage of the views. For those seeking coastal breezes, laid back atmosphere, and a nice distance from the city hustle, Hermosa Beach is the place.
ATTRACTIONS
RESTAURANTS
•
Hermosa Beach and Pier
•
The Farmer's Market
•
Zane's Steakhouse
•
Fritto Misto
•
The Strand
•
South Park
•
Palmilla Cocina y Tequila
•
Dia de Campo
•
The Comedy Club
•
Noble Park
•
Gum Tree
•
Chef Melba's Bistro
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
49
11
$1.90M
29
$1,287
22%
40
18
$2.11M
13
$978
45%
+23%
-39%
-10%
+123%
+32%
-50%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $2,800,000 $2,487,500
$2,105,000
40
$2,000,000
Oct-21
19
Nov-21
23
22
Dec-21
20
13
Jan-22
$2,150,000
$2,400,000
$2,067,500
$1,985,000
$1,850,000
44
35
31 18
$2,400,000 $2,200,000
28
34
29
19
19
19
Mar-22
Apr-22
May-22
44 20
7
Feb-22
Jun-22
Jul-22
$1,899,000
49
43
41
13
$1,975,000
15
16
Aug-22
Sep-22
11
Oct-22
HOLLYWOOD RIVIERA Hollywood Riviera, coined by developer Clifford Reid in 1927, got its name from bearing a resemblance to the French Riviera and on the dream of utilizing the area's natural setting for Hollywood's silver screens. The area is bordered by Palos Verdes Estates to the south and Redondo Beach and Torrance to the north. Outdoor amenities include the famous Riviera Village, a pedestrian-friendly district for galleries, shopping, dining, a weekly Farmer's Market, and more, as well as Torrance Beach, Rat Beach, and several parks. Commuters have direct access to Highway 1 and State Routes 107 and 213.
ATTRACTIONS
RESTAURANTS
•
Torrance Beach
•
Riviera Village
•
Bettolino Kitchen
•
Gabi James
•
Rat Beach
•
El Retiro Park
•
Riviera House
•
The Hook & Plow
•
Miramar Park
•
Los Arboles Rocketship Park •
Little Sister
•
TNT Aloha Cafe
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
15
8
$1.83M
18
$944
53%
14
17
$1.63M
11
$818
121%
+7%
-53%
+13%
+64%
+15%
-56%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $2,236,575
$2,176,500 $1,980,000 $1,625,000
$2,113,000 $1,939,000
$1,915,000
$1,897,500
$1,700,605
$1,587,500
$1,800,000
$1,830,000
$1,147,500
14
17 12 4
Oct-21
Nov-21
10 2
Dec-21
5
8 1
Jan-22
23
21
19
16 10
12
9
24
20 10
19 9
4
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
6
Aug-22
15 9
8
Sep-22
Oct-22
LAWNDALE Lawndale is a beautiful city and community located south of Hawthorne and west of Gardena. The city's close proximity to the beach allows residents to enjoy the marine layer almost identical to that of Manhattan Beach and El Segundo while in a quieter location away from the beach's popularity. The city is split diagonally by the 405 freeway, affording convenient access points for commuters. Recreation activities include a golf course and neighboring park that hosts year round family-friendly activities. Local employment opportunities are available in aerospace, oil, and professional services.
ATTRACTIONS
RESTAURANTS
•
Alondra Park & Golf Course
•
Jane Addams Park
•
Ensenada's Surf N Turf Grill
•
El Amigo
•
Rudolph Park
•
Hawthorne Boulevard
•
Havana Mania
•
Saigon Dish
•
Roger Anderson Park
•
LA Rugby Club
•
Pacific Rim Thai Kitchen
•
Corner Burger
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
18
7
$645K
34
$617
39%
19
18
$718K
14
$509
95%
-5%
-61%
-10%
+143%
+21%
-59%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $896,300 $717,500
19
18
Oct-21
$763,500
$757,500
$750,000
$777,000
$800,088
$755,000
$857,000
$765,000
$736,000
$659,000
17
$644,983
22 12
Nov-21
10
15
Dec-21
16
13
12 6
7
Jan-22
Feb-22
15
Mar-22
22
15
Apr-22
30
28
27
24 8
9
May-22
Jun-22
10
Jul-22
18 10
8
7
Aug-22
Sep-22
Oct-22
LOMITA From a simple ranch house to a sleepy narrow gauge electric railroad stop and a handful of roads named after trees and fruits, Lomita has grown into a small city that, in spite of its growth, has maintained its rustic, small-town flavor. The Lomita railroad museum still stands today as a testament to the city's history. Lomita might be one of the smallest cities in the area, and this fact is part of the area's charm. As with neighboring cities, residents have access to an eclectic blend of restaurants, recreation opportunities, and major commuting freeways. Real estate offerings are a blend of single-family and attached homes that are perfect for families, professionals, and investors.
ATTRACTIONS
RESTAURANTS
•
Lomita Railroad Museum
•
Hathaway Park
•
King Poke
•
Harry's Oklahoma BBQ
•
Lomita Park
•
Veterans Park
•
Bites and Bashes Cafe
•
Pinky's Hot Box
•
Lomita Library
•
Planet Escape Room
•
The Nook Breakfast Spot
•
Lomita's Best
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
17
18
$833K
16
$575
106%
27
11
$777K
13
$490
41%
-37%
+64%
+7%
+23%
+17%
+160%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $876,000
$925,000
$777,000
27
Oct-21
$871,500
$860,000
$886,000
$915,000
$825,000
$732,500
25 11
$880,000
14
16
19
18
14
$729,500
24
18
15 6
Nov-21
Dec-21
Jan-22
28
Feb-22
11
Mar-22
17
11
Apr-22
8
May-22
Jun-22
$832,500
34
28 13
$795,000
26 17 8
7
6
Jul-22
Aug-22
Sep-22
18
Oct-22
MANHATTAN BEACH Manhattan Beach is a South Bay hotspot for outdoor enthusiasts, families, and anyone who dreams of waking up to sunny beachside views every morning. The over two miles of coastline offer residents year round opportunities for relaxation, rejuvenation, and a plethora of opportunities for shopping and dining with a view. Head a few streets inland for parks, gardens, golfing, and access Highway 1. Located just south of the Los Angeles airport and an hour to Downtown Los Angeles, residents enjoy convenient access to work and enjoying what the greater area has to offer.
ATTRACTIONS •
Roundhouse Aquarium
•
The Strand Bike Path
•
Manhattan Beach Art Center
RESTAURANTS •
•
Polliwog Park & Manhattan Beach Botanical Garden Bruce's Beach
•
The Strand House
•
The Arthur J
•
Jute Coastal Bar + Kitchen
•
Zinc
•
Simmzy's
•
Nick's Manhattan Beach
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
80
25
$3.00M
14
$1,194
31%
73
41
$3.50M
9
$1,350
56%
+10%
-39%
-14%
+56%
-12%
-44%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $4,025,500 $3,637,500
$3,500,000 $3,200,000
$2,977,500
$2,927,500
$2,680,000
44
37
35
35 17
Oct-21
Nov-21
Dec-21
57
42
Jan-22
24
28
Feb-22
Mar-22
77
61
55
34
35
Apr-22
May-22
$3,000,000
$2,800,000
$2,625,000
62 41
$3,495,000
$3,012,500
84
73
$3,775,000
32
Jun-22
36
Jul-22
80
79
68 28
Aug-22
19
Sep-22
25
Oct-22
REDONDO BEACH Located at the start of Los Angeles County's coastal edge, 20 miles south of downtown Los Angeles and seven miles south of Los Angeles International Airport, Redondo Beach is a premier beachfront destination. The city offers year-round beach days, high-end shopping and dining, pristine parks, and gorgeous waterfront properties. Local opportunities can be found in the northern industrial complex anchored by Northrop Grumman and in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water and a short walk or drive from the water's edge.
ATTRACTIONS
RESTAURANTS
•
Seaside Lagoon
•
Hopkins Wilderness Park
•
Bluewater Grill
•
Pura Vita
•
South Bay Galleria
•
Veterans Park
•
Sea Level Restaurant
•
Maderos Cocina Mexicana
•
Redondo Beach Marina
•
RB Performing Arts Center
•
The Standing Room
•
Hudson House
MARKET SUMMARY
OC TOBER 2022 OCTOBER
2022
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
102
50
$1.46M
20
$812
49%
83
96
$1.37M
10
$752
116%
+23%
-48%
+7%
+100%
+8%
-58%
OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $1,366,000
83
$1,427,000 $1,249,000
$1,500,000
$1,551,500
$1,480,000
77 49
Nov-21
70 30
Dec-21
64 37
38
Jan-22
$1,523,000 $1,330,000
$1,242,500
118
114
96
Oct-21
$1,550,000 $1,336,500
59
73
76
73
80
60
75
116 61
36
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
$1,430,000
107
$1,455,000
102
51
50
Aug-22
Sep-22
50
Oct-22
TORRANCE Torrance is the eigth largest city in Los Angeles County, and as such, provides an abundance of lifestyle experiences. Choose to live by the beach, slightly further inland, or in a more suburban setting. Torrance has something for everyone — traditional and luxury homes, condos, and townhomes. In Torrance, year round local events, recreation parks, museums, shopping, and a plethora of authentic cuisine are all a short distance away. Torrance is also home to El Camino College and a robust collection of industries. Aviation enthusiasts can feel at home at Zamperini field, a municipal airport primarily for private aircraft and instruction.
ATTRACTIONS
RESTAURANTS
•
Torrance Beach
•
Columbia Park
•
The San Franciscan
•
Madre
•
Zamperini Field
•
Torrance Art Museum
•
King Hawaiian Bakery
•
Shrimp By You
•
Madronna Marsh Preserve
•
Charles Wilson Park
•
Silog
•
Din Tai Fung
MARKET SUMMARY
OC TOBER 2022 OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
171
75
$1.00M
17
$670
44%
112
111
$970K
9
$624
99%
+53%
-32%
+3%
+89%
+7%
-56%
13-MONTH TRENDS $1,028,000
$970,000 $865,000
$900,000
$915,000
$910,250
$981,500
$995,000
$1,015,000 $925,000
181 112 111
Oct-21
94
111
103
Nov-21
60
Dec-21
76
75
Jan-22
86
72
Feb-22
116 106
114 126
Mar-22
Apr-22
144 107
May-22
179
170 110
Jun-22
$985,000
109
Jul-22
$960,000
$1,000,065
171
163 86
83
Aug-22
Sep-22
75
Oct-22
BEVERLY HILLS
WE ARE THE COAST BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050
PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425
REDONDO BEACH 1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747
PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
MANHATTAN BEACH/DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
MARINA DEL REY/VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
WESTCHESTER/SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
WEST LOS ANGELES
MARINA DEL REY/VENICE WESTCHESTER/SILICON BEACH
EL SEGUNDO
MANHATTAN BEACH MANHATTAN BEACH/DOWNTOWN REDONDO BEACH TORRANCE PALOS VERDES - MALAGA COVE PALOS VERDES - SILVER SPUR PALOS VERDES - MIRALESTE
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720
D E BBI E M A X W E L L A L L EN REALTOR® | DRE# 01146109
310.872.4164
Market Intelligence Report Volume 8 | November 2022
Debbie@AnchoredInTheSouthBay.com AnchoredInTheSouthBay.com RE/MAX Estate Properties 63 Malaga Cove Plaza, Palos Verdes Estates, California 90274 USA