SOUTH BAY Market Intelligence Report Volume 8 | August 2022 Market Intelligence Report Volume 8 | September 2022 COOKIE LORENZO CookieLorenzoRE@gmail.com310-418-2094DRE#00971609 For All Your South Bay and Palos Verdes Real Estate Needs ANYA JENSEN AnyaNorthup@gmail.com323-719-4781DRE#01983103
SOUTH
BAY MARKETS
TorranceRedondoManhattanLomitaLawndaleHollywoodHermosaHawthorneGardenaElCarsonSegundoBeachRivieraBeachBeach 2010648121416182224
Measures the home’s sales price for an individual square foot.
PROPERTIES FOR SALE:
REAL ESTATE KEY TERMS
The price of the property that falls in the middle of the total number of properties sold in the given time period.
The total number of available properties for sale.
The number of days a property is on the market prior to accepting an offer.
PRICE PER SQUARE FOOT:
MEDIAN PRICE:
DAYS ON MARKET (CLOSED SALES):
SALES RATIO:
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.
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.
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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. Carson Park Dignity Health Sports Park Printing Museum Gnome Village Kart World Anderson Park Home in Lahaina
• International
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ATTRACTIONS
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• Orleans & York Deli
• Rosario's Italian Restaurant • Chinollo • Hiccups Tea House • Darrow's New Orleans Grill • Back
RESTAURANTS
CARSON
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 74 44 $748K 15 $467 59% AUGUST2021 66 42 $672K 10 $483 64% PERCENTCHANGE +12% +5% +11% +50% -3% -7% 66 74 60 49 40 44 58 53 59 70 84 86 74 42 42 45 43 40 37 28 52 48 37 33 32 44 $672,000 $742,500 $715,000 $720,000 $720,500 $726,000 $705,000 $776,944 $737,500 $790,000 $830,000 $795,900 $747,500 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
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.
• Dockweiler Beach • Old Town Music Hall • The Lakes at El Segundo • R6 Distillery • Automobile Driving Museum • El Segundo Parks & Rec • Jame Enoteca • Ali'i Fish Company • Caló Kitchen + Tequila • Britt's BBQ • Ensenada's Surf & Turf • Salt Creek Grille ATTRACTIONS RESTAURANTS EL SEGUNDO
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 72 31 $720K 18 $499 43% AUGUST2021 22 13 $1.37M 8 $638 59% PERCENTCHANGE +227% +138% -47% +125% -22% -27% 22 25 21 14 14 9 12 20 16 16 18 24 72 13 16 7 20 9 9 9 11 13 20 8 11 31 $1,365,000 $1,545,500 $925,000 $1,700,000 $1,505,000 $1,170,000 $1,100,000 $1,890,000 $1,700,000 $1,530,000 $2,052,500 $1,300,000 $720,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
RESTAURANTS 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.
• Rowley Memorial Park • Thornburg Park • Mas Fukai Park • Arthur Lee Johnson Park • Gardena Bowl • Alondra Golf Course • Spoon House Bakery • Kotohira Restaurant • O' Young's Rock Pot • Jin Jja Roo • Fukagawa • Grand Fish Tacos & Ceviche
ATTRACTIONS
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 72 31 $720K 18 $499 43% AUGUST2021 66 36 $685K 10 $496 55% PERCENTCHANGE +9% -14% +5% +80% +0.5% -21% 66 49 46 49 30 33 28 47 50 44 58 65 72 36 39 46 45 30 30 28 37 38 31 40 29 31 $684,500 $690,000 $715,000 $708,000 $725,000 $765,000 $767,500 $760,000 $825,000 $790,000 $752,500 $770,000 $720,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
• Eucalyptus Skate Park • Jim Thorpe Park • Star Helicopters • Hawthorne Memorial Park • Hawthorne Municipal Airport • Bossa Nova • Zacatecas • Hummus House • India's Tandoori Halal • Common Space Brewery • Los Angeles Ale Works ATTRACTIONS RESTAURANTS 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.
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 58 31 $805K 16 $691 53% AUGUST2021 58 31 $799K 8 $616 53% PERCENTCHANGE 0% 0% +1% +100% +12% 0% 58 47 47 40 26 28 25 23 36 45 57 52 58 31 37 43 32 31 14 24 31 27 25 23 24 31 $799,000 $790,000 $810,000 $822,500 $900,000 $875,000 $803,000 $875,000 $980,000 $985,000 $938,500 $887,000 $805,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
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. BEACH
• Hermosa Beach and Pier • The Strand • The Comedy Club • The Farmer's Market • South Park • Noble Park • Zane's Steakhouse • Palmilla Cocina y Tequila • Gum Tree • Fritto Misto • Dia de Campo • Chef Melba's Bistro ATTRACTIONS RESTAURANTS HERMOSA
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 41 15 $1.85M 15 $1,051 37% AUGUST2021 44 33 $2.22M 9 $1,074 75% PERCENTCHANGE -7% -55% -17% +67% -2% -51% 44 45 40 31 23 20 35 28 34 29 44 44 41 33 19 18 19 22 13 7 19 19 19 20 13 15 $2,222,222 $2,000,005 $2,105,000 $2,000,000 $2,487,500 $2,800,000 $2,200,000 $2,150,000 $1,985,000 $2,400,000 $2,067,500 $2,400,000 $1,850,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
• Riviera
• El Retiro
• Los Arboles
HOLLYWOOD RIVIERA
RESTAURANTS
• Miramar
ATTRACTIONS
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. Beach Rat Beach Park Village Park Rocketship
• Torrance
Park • Bettolino Kitchen • Riviera House • Little Sister • Gabi James • The Hook & Plow • TNT Aloha Cafe
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13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 24 6 $1.70M 12 $841 25% AUGUST2021 17 10 $1.86M 13 $854 59% PERCENTCHANGE +41% -40% -8% -8% -1% -58% 17 14 14 4 2 5 8 19 16 21 23 20 24 10 13 17 12 10 1 4 10 12 9 10 9 6 $1,855,250 $1,775,000 $1,625,000 $1,980,000 $1,587,500 $1,147,500 $1,897,500 $2,176,500 $1,915,000 $2,236,575 $1,939,000 $2,113,000 $1,700,605 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
ATTRACTIONS
RESTAURANTS
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.
• Alondra Park & Golf Course • Rudolph Park • Roger Anderson Park • Jane Addams Park • Hawthorne Boulevard • LA Rugby Club • Ensenada's Surf N Turf Grill • Havana Mania • Pacific Rim Thai Kitchen • El Amigo • Saigon Dish • Corner Burger
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 22 10 $857K 22 $592 45% AUGUST2021 20 11 $820K 8 $590 55% PERCENTCHANGE +10% -9% +5% +175% +0.3% -17% 20 22 19 17 10 12 13 16 22 24 27 28 22 11 9 18 12 15 6 7 15 15 8 9 10 10 $820,000 $710,000 $717,500 $757,500 $659,000 $763,500 $750,000 $777,000 $800,088 $755,000 $765,000 $896,300 $857,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
• Lomita Railroad Museum • Lomita Park • Lomita Library • Hathaway Park • Veterans Park • Planet Escape Room • King Poke • Bites and Bashes Cafe • The Nook Breakfast Spot • Harry's Oklahoma BBQ • Pinky's Hot Box • Lomita's Best ATTRACTIONS RESTAURANTS 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.
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 34 7 $825K 36 $558 21% AUGUST2021 26 10 $799K 11 $621 38% PERCENTCHANGE +31% -30% +3% +227% -10% -46% 26 25 27 25 16 18 18 15 17 24 28 28 34 10 10 11 14 19 14 6 11 11 8 13 8 7 $799,000 $999,500 $777,000 $876,000 $925,000 $732,500 $880,000 $871,500 $860,000 $886,000 $915,000 $729,500 $825,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
• Roundhouse Aquarium • The Strand Bike Path • Manhattan Beach Art Center • Polliwog Park & Manhattan Beach Botanical Garden • Bruce's Beach • The Strand House • Jute Coastal Bar + Kitchen • Simmzy's • The Arthur J • Zinc • Nick's Manhattan Beach ATTRACTIONS RESTAURANTS 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.
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 68 28 $2.80M 9 $1,279 41% AUGUST2021 74 54 $2.79M 9 $1,214 73% PERCENTCHANGE -8% -48% +0.4% 0% +5% -44% 74 87 73 62 37 35 42 57 55 61 84 77 68 54 42 41 44 35 17 24 28 34 35 32 36 28 $2,787,500 $3,187,500 $3,500,000 $2,977,500 $2,680,000 $3,200,000 $4,025,500 $2,927,500 $3,012,500 $2,625,000 $3,637,500 $3,775,000 $2,800,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
• Seaside Lagoon • South Bay Galleria • Redondo Beach Marina • Hopkins Wilderness Park • Veterans Park • RB Performing Arts Center • Bluewater Grill • Sea Level Restaurant • The Standing Room • Pura Vita • Maderos Cocina Mexicana • Hudson House ATTRACTIONS RESTAURANTS 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.
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 116 51 $1.33M 13 $821 44% AUGUST2021 103 82 $1.31M 8 $739 80% PERCENTCHANGE +13% -38% +1% +63% +11% -45% 103 104 83 49 30 37 64 59 76 80 114 118 116 82 78 96 77 70 38 36 73 73 60 75 61 51 $1,311,000 $1,380,000 $1,366,000 $1,249,000 $1,427,000 $1,336,500 $1,242,500 $1,550,000 $1,500,000 $1,551,500 $1,480,000 $1,523,000 $1,330,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
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.
RESTAURANTS
TORRANCE
• Torrance Beach • Zamperini Field • Madronna Marsh Preserve • Columbia Park • Torrance Art Museum • Charles Wilson Park • The San Franciscan • King Hawaiian Bakery • Silog • Madre • Shrimp By You • Din Tai Fung
ATTRACTIONS
13-MONTH TRENDS MARKET AUGUSTSUMMARY2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO AUGUST2022 179 86 $985K 13 $650 48% AUGUST2021 115 121 $910K 8 $649 105% PERCENTCHANGE +56% -29% +8% +63% +0.2% -54% 115 124 112 94 60 76 86 116 114 144 181 170 179 121 146 111 103 111 75 72 106 126 107 110 109 86 $910,000 $902,500 $970,000 $865,000 $900,000 $915,000 $910,250 $1,028,000 $981,500 $995,000 $1,015,000 $925,000 $985,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 310.378.988990505
WE ARE THE COAST
WEST LOS WESTCHESTER/SILICONANGELES
1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
PALOS VERDES - MIRALESTE
9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050
MANHATTAN BEACH/DOWNTOWN
450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MARINA DEL REY/VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747
WEST LOS ANGELES
PALOS VERDES - MALAGA COVE
BEVERLY HILLS
MARINA DEL REY/VENICE
REDONDO BEACH
MANHATTAN BEACH
1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
PALOS VERDES - SILVER SPUR
BEVERLY HILLS
EL SEGUNDO
402 Main Street
BEACH EL SEGUNDOMANHATTAN BEACH MANHATTAN
PALOSREDONDOBEACH/DOWNTOWNBEACHTORRANCEVERDES-MALAGACOVEPALOSVERDES-
El Segundo, CA 90245 310.322.1425
PALOS VERDES - SILVER SPUR
10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
WESTCHESTER/SILICON BEACH
MIRALESTE
7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720
CONNECT WITH US o https://www.remax.com/real-estate-agents/lourdes-lorenzo-palos-verdes-estates-ca/100000001Lorenzoteam_realestatehttps://www.facebook.com/CookieLorenzoREMAX/https://www.linkedin.com/in/cookie-lorenzo-51071117 COOKIE LORENZO & ANYA JENSEN
