RE/MAX Estate Properties - South Bay

Page 1

SOUTH BAY Market Intelligence Report

Volume 8 | June 2022


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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

70

37

$790K

8

$539

53%

46

47

$665K

6

$439

102%

+52%

-21%

+19%

+33%

+23%

-48%

$776,944

$790,000

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS

$665,000

46

47

May-21

$705,000

60

49

Jun-21

$742,500

$675,000

49

59

Jul-21

$672,000

74

66

$715,000

60

42

42

Aug-21

Sep-21

45

Oct-21

$720,000

49

43

Nov-21

$720,500

40

40

Dec-21

$726,000

44

$705,000

58 37

Jan-22

53

52

$737,500

59

70

48

28

Feb-22

Mar-22

Apr-22

37

May-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

16

20

$1.53M

6

$867

125%

21

14

$1.52M

9

$665

67%

-24%

+43%

+1%

-33%

+30%

+88%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS $1,890,000

$1,733,222

$1,700,000

$1,700,000

$1,575,000

$1,518,750

$1,545,500

$1,530,000

$1,505,000

$1,365,000

$1,170,000

$1,100,000

$925,000

21

21

14

22 17

25

22 16

13

21

14

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

14 9

7

May-21

20

20

16

Nov-21

Dec-21

9

9

Jan-22

12

9

Feb-22

16

11

Mar-22

13

Apr-22

16

20

May-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

44

31

$790K

8

$540

70%

40

38

$707K

7

$486

95%

+10%

-18%

+12%

+14%

+11%

-26%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS $706,500

$650,000

$724,000

$684,500

$690,000

$715,000

49

46

$708,000

$725,000

$765,000

$767,500

$760,000

$825,000

$790,000

66 40

38

May-21

48 35

Jun-21

43

39

Jul-21

36

39

Aug-21

Sep-21

46

49

47

45 30

Oct-21

Nov-21

30

Dec-21

33

30

Jan-22

28

28

Feb-22

50 37

38

Mar-22

Apr-22

44 31

May-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

45

25

$985K

7

$737

56%

37

27

$835K

9

$628

73%

+22%

-7%

+18%

-22%

+17%

-24%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS

$835,000

37

$870,000

42

41

$880,000

58

50 29

27

$799,000

31

$790,000

$810,000

47

47

37

43

$822,500

40

32

$900,000

26

31

$980,000 $875,000

28 14

May-21

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

Nov-21

Dec-21

Jan-22

$803,000

25

24

Feb-22

$985,000

$875,000

23

31

Mar-22

36

45 27

25

Apr-22

May-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

29

19

$2.40M

7

$1,333

66%

50

21

$1.85M

10

$881

42%

-42%

-10%

+30%

-30%

+51%

+56%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS $2,800,000

$2,487,500 $2,082,500

$2,047,500

$2,222,222

$2,000,005

$1,850,000

51

50

48

May-21

20

Jun-21

40

33

32 21

45

44

Jul-21

19

Aug-21

$2,105,000

Sep-21

$2,000,000

35

31 18

Oct-21

$2,400,000 $2,200,000

19

Nov-21

23

22

Dec-21

20

13

Jan-22

$2,150,000

28

$1,985,000

34

29

19

19

19

Mar-22

Apr-22

May-22

7 Feb-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

21

9

$2.24M

10

$1,187

43%

19

15

$1.68M

6

$805

79%

+11%

-40%

+34%

+67%

+48%

-46%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS $2,236,575

$2,176,500 $1,855,250 $1,675,000

$1,701,500

$1,980,000

$1,625,000

$1,915,000

$1,897,500

$1,775,000 $1,587,500

$1,425,000 $1,147,500

25

19

15

16

16

14

17

10

14

13

14

12 4

May-21

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

21

19

17

Nov-21

10 2 Dec-21

5

8 1

Jan-22

16

10

12

9

4

Feb-22

Mar-22

Apr-22

May-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

24

8

$755K

9

$489

33%

20

5

$625K

7

$379

25%

+20%

+60%

+21%

+29%

+29%

+33%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS $820,000

$740,000 $625,000

23

20

17

14

$710,000

$691,500

18

22

20 11

5 May-21

Jun-21

Jul-21

Aug-21

$717,500

19

18

Sep-21

Oct-21

$750,000

$777,000

$800,088

$755,000

$659,000

24

22 17 12

9

$763,500

$757,500

Nov-21

15 10

Dec-21

16

13

12 6

7

Jan-22

Feb-22

15

15 8

Mar-22

Apr-22

May-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

24

8

$886K

7

$546

33%

20

20

$850K

6

$495

100%

+20%

-60%

+4%

+17%

+10%

-67%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS $999,500 $850,000

$839,625

$875,500

26 20

20

May-21

18

14

Jun-21

14

12

Jul-21

$876,000

$799,000

$925,000

$777,000

27

25

10

10

Aug-21

Sep-21

$880,000

$871,500

$860,000

$732,500

25 11

Oct-21

$886,000

14

16

19

24 18

14

18

15 6

Nov-21

Dec-21

Jan-22

Feb-22

17 11

11

Mar-22

Apr-22

8

May-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

MAY 2022 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

61

35

$2.63M

12

$1,529

57%

98

52

$2.77M

17

$1,075

53%

-38%

-33%

-5%

-29%

+42%

+8%

MAY

2022 MAY

2021 PERCENT CHANGE

13-MONTH TRENDS $4,025,500

$3,500,000

$3,350,000

$2,765,000

$2,988,000

104

98 52

May-21

Jun-21

74

45

Jul-21

Aug-21

$2,927,500

$2,680,000

87

54

$3,200,000

$2,977,500

$2,787,500

84 57

$3,187,500

73 42

Sep-21

62 41

Oct-21

44

Nov-21

37

35

Dec-21

$3,012,500 $2,625,000

35

42

17

Jan-22

57

61

55

24

28

34

35

Feb-22

Mar-22

Apr-22

May-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

MAY 2022 MAY

2022 MAY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

80

60

$1.55M

8

$833

75%

91

90

$1.33M

7

$687

99%

-12%

-33%

+16%

+14%

+21%

-24%

13-MONTH TRENDS $1,333,500

$1,342,500

116

91

90

96

$1,300,000

110

98

$1,311,000

103

82

$1,380,000

104

78

$1,366,000

83

$1,427,000 $1,249,000

96

77 49

May-21

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

Nov-21

$1,550,000 $1,336,500

70 30

Dec-21

38

Jan-22

$1,551,500

$1,242,500

64 37

$1,500,000

59

73

76

73

80

60

36

Feb-22

Mar-22

Apr-22

May-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

MAY 2022 MAY

2022 MAY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

144

107

$995K

8

$705

74%

129

118

$871K

8

$608

91%

+12%

-9%

+14%

0%

+16%

-19%

13-MONTH TRENDS

$870,500

129

118

$880,000

107

126

$830,000

142 137

$910,000

$902,500

115 121

124

$1,028,000

$970,000 $865,000

$900,000

Jun-21

Jul-21

Aug-21

$910,250

$981,500

146

112 111

94

111

103 60

May-21

$915,000

Sep-21

Oct-21

Nov-21

Dec-21

76

75

Jan-22

86

116 106

114

126

$995,000

144 107

72

Feb-22

Mar-22

Apr-22

May-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


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