Dian McManus Market Intelligence Reports South Bay

Vol. 6 | October 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 community

RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

Dian McManus, Realtor®

Luxury Real Estate + Lifestyle Palos Verdes | Beach Cities | L.A.

Cell: 310.980.7034

dianmcmanus@outlook.com DRE# 02080334

RE/MAX Estate Properties 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12 Carson...................................................................13

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 October 2020 are based on data available at the end of September 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.

El Segundo SEPTEMBER STATS Key Facts:

$1,257,000

Median Sold Price

$1,420,000

Average Sold Price

21

SEPTEMBER SEPTEMBER %

2019

2020

Change

Median Price (in $1,000)

$1,279

$1,257

-2%

Average Price Per Sq. Foot

$705

$689

-2%

Properties for Sale

17

21 24%

Properties Pending Sales

10

13 30%

Properties Sold

6

20 233%

Days on Market (Sold Homes)

47

25 -47%

Monthly Supply of Inventory

2.8

1.1 -61%

Absorption Rate (Closed Sales) 35.3

Listings for Sale

95.2 170%

AVERAGE & MEDIAN PRICE $1,800

13

Listings Pending

20

$3,500

$1,600

$3,000

$1,400

$2,500

Listings Sold

$2,593

$1,200

$1,000

$2,000 $1,655

$800

25

Days On Market

$1,500 $600

$1,000 $400

$500 $200

$-

$Sep 2019

Oct 2019

Nov 2019

Dec 2019

Jan 2020

Median

Mar 2020

Apr 2020

May 2020

Average

Jun Jul 2020 Aug 2020 2020

Sep 2020

Gardena SEPTEMBER STATS Key Facts:

$610,000

Median Sold Price

$588,000

Average Sold Price

23

SEPTEMBER SEPTEMBER %

2019

Listings Pending

$594

$610

3%

Average Price Per Sq. Foot

$360

$444

23%

Properties for Sale

53

23 -57%

Properties Pending Sales

33

42 27%

Properties Sold

34

31 -9%

Days on Market (Sold Homes)

41

17 -59%

Monthly Supply of Inventory

1.6

0.7 -56%

Absorption Rate (Closed Sales) 64.2 134.8 110%

AVERAGE & MEDIAN PRICE $588

$3,500$700

$610

$3,000$600

31

Change

Median Price (in $1,000)

Listings for Sale

42

2020

$2,593 $2,500$500

Listings Sold $2,000$400 $1,655

17

Days On Market

$1,500$300 $1,000$200 $100

$500

$-

$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Median

Average

Hawthorne SEPTEMBER STATS Key Facts:

$750,000

Median Sold Price

$754,000

Average Sold Price

33

SEPTEMBER SEPTEMBER %

2019

2020

Change

Median Price (in $1,000)

$705

$750

6%

Average Price Per Sq. Foot

$463

$504

9%

Properties for Sale

41

33 -20%

Properties Pending Sales

34

36 6%

Properties Sold

35

45 29%

Days on Market (Sold Homes)

21

23 10%

Monthly Supply of Inventory

1.2

0.7 -42%

Absorption Rate (Closed Sales) 85.4 136.4 60%

Listings for Sale

36

Listings Pending

AVERAGE & MEDIAN PRICE $3,500$900

$754 $750

$800

$3,000 $700

45

$2,593

$2,500

$600

Listings Sold

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

23

Days On Market

$1,500

$300

$1,000

$200

$500$100

$-

$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Median

Average

Hermosa Beach SEPTEMBER STATS Key Facts:

SEPTEMBER SEPTEMBER %

2019

Median Price (in $1,000)

$1,805,000 Median Sold Price

$2,143,000

Average Sold Price

54

Average Price Per Sq. Foot

Listings Pending

Change

$2,200

$1,805

-18%

$955

$1,021

7%

Properties for Sale

69

54 -22%

Properties Pending Sales

19

18 -5%

Properties Sold

16

20 25%

Days on Market (Sold Homes)

50

21 -58%

Monthly Supply of Inventory

4.3

2.7 -37%

Absorption Rate (Closed Sales) 23.2 37 59%

Listings for Sale

18

2020

AVERAGE & MEDIAN PRICE $3,000 $2,143

$3,500 $2,500

$3,000 $1,805

20

$2,000 $2,500

$2,593

Listings Sold $2,000

$1,500

21

Days On Market

$1,655

$1,500 $1,000

$1,000 $500

$500 $- $-

Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Median

Average

Lawndale SEPTEMBER STATS Key Facts:

$607,000

Median Sold Price

$603,000

Average Sold Price

SEPTEMBER SEPTEMBER %

2019

$634

$607

-4%

Average Price Per Sq. Foot

$385

$484

26%

Properties for Sale

10

13 30%

Properties Pending Sales

9

15 67%

Properties Sold

10

14 40%

Days on Market (Sold Homes)

36

26 -28%

1

0.9 -10%

Absorption Rate (Closed Sales) 100 107.7 8%

Listings for Sale

15

Listings Pending

Change

Median Price (in $1,000)

Monthly Supply of Inventory

13

2020

AVERAGE & MEDIAN PRICE $3,500

$800 $603

$3,000 $700 $607

14

Listings Sold

$2,593

$600 $2,500 $500

$2,000

$1,655

$400

26

Days On Market

$1,500 $300

$1,000

$200

$500 $100 $-

$-

Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Median

Average

Lomita SEPTEMBER STATS Key Facts:

$702,000 Median Sold Price

$675,000

Average Sold Price

23

SEPTEMBER SEPTEMBER %

2019

Listings Pending

$677

$702

4%

Average Price Per Sq. Foot

$439

$500

14%

Properties for Sale

18

23 28%

Properties Pending Sales

11

16 45%

Properties Sold

11

23 109%

Days on Market (Sold Homes)

17

22 29%

Monthly Supply of Inventory

1.6

1 -38%

Absorption Rate (Closed Sales) 61.1

Listings Sold

100 64%

AVERAGE & MEDIAN PRICE $3,500 $900

$3,000 $800

23

Change

Median Price (in $1,000)

Listings for Sale

16

2020

$675 $702

$2,593

$700

$2,500

$600

$2,000

$500

22

Days On Market

$1,655

$400 $1,500 $300

$1,000 $200

$500 $100 $-

$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Median

Average

Manhattan Beach SEPTEMBER STATS Key Facts:

SEPTEMBER SEPTEMBER %

2019

Median Price (in $1,000)

$2,830,000 Median Sold Price

$3,058,000 Average Sold Price

118

Average Price Per Sq. Foot

Listings Pending

Change

$2,450

$2,830

16%

$956

$1,097

15%

Properties for Sale

131

118 -10%

Properties Pending Sales

25

62 148%

Properties Sold

22

61 177%

Days on Market (Sold Homes)

67

34 -49%

Monthly Supply of Inventory

6

1.9 -68%

Absorption Rate (Closed Sales) 16.8

51.7 208%

Listings for Sale

62

2020

AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,058

$3,000 $3,500

61 Listings Sold

$2,830

$2,593

$3,000 $2,500 $2,500 $2,000

$1,655

$2,000

34

Days On Market

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

Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Median

Average

Redondo Beach SEPTEMBER STATS Key Facts:

$1,080,000 Median Sold Price

$1,177,000

Average Sold Price

78

Listings Pending

2019

Listings Sold

$1,080

7%

Average Price Per Sq. Foot

$575

$610

6%

Properties for Sale

126

78 -38%

Properties Pending Sales

66

96 45%

Properties Sold

57

96 68%

Days on Market (Sold Homes)

35

27 -23%

Monthly Supply of Inventory

2.2

0.8 -64%

Absorption Rate (Closed Sales) 45.2

123.1 172%

AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,177 $1,080 $2,593

$1,200 $2,500 $1,000 $2,000

$1,655

$800

27

Days On Market

Change

$1,010

$1,400 $3,000

96

2020

Median Price (in $1,000)

Listings for Sale

96

SEPTEMBER SEPTEMBER %

$1,500 $600 $1,000 $400 $500 $200 $$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average

Torrance SEPTEMBER STATS Key Facts:

$885,000

Median Sold Price

$989,000

Average Sold Price

80

Listings Pending

2019

2020

Change

Median Price (in $1,000)

$817

$885

8%

Average Price Per Sq. Foot

$539

$595

10%

Properties for Sale

123

80 -35%

Properties Pending Sales

81

121 49%

Properties Sold

102

120 18%

Days on Market (Sold Homes)

31

22 -29%

Monthly Supply of Inventory

1.2

0.7 -42%

Absorption Rate (Closed Sales) 82.9 150 81%

Listings for Sale

121

SEPTEMBER SEPTEMBER %

AVERAGE & MEDIAN PRICE $989

$1,200 $3,500

$3,000 $1,000

120

Listings Sold

$885 $2,593 $2,500 $800 $2,000 $1,655

$600

22

Days On Market

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

$-$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average

Carson SEPTEMBER STATS Key Facts:

$605,000 Median Sold Price

$599,000

Average Sold Price

31

Listings Pending

31

Listings Sold

2019

2020

Change

Median Price (in $1,000)

$515

$605

17%

Average Price Per Sq. Foot

$347

$383

10%

Properties for Sale

48

31 -35%

Properties Pending Sales

39

38 -3%

Properties Sold

37

31 -16%

Days on Market (Sold Homes)

32

11 -66%

Monthly Supply of Inventory

1.3

1 -23%

Absorption Rate (Closed Sales) 77.1

100 30%

Listings for Sale

38

SEPTEMBER SEPTEMBER %

AVERAGE & MEDIAN PRICE $599

$620 $3,500

$605

$600 $3,000 $580

$2,593

$2,500 $560 $2,000 $540

11

Days On Market

$1,655

$1,500 $520 $1,000 $500 $500 $480 $$460 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average

We Are T he Coast RE/MAX Estate Properties 600+ Local Agents • 12 Offices Luxury Residential • International Commercial Division BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050 EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425 PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266 310.376.2225

PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999

MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700

TORRANCE 23740 Hawthorne Blvd.

Torrance, CA 90505 310.378.9889

MARINA DEL REY / VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292 310.577.5300

WEST LOS ANGELES 10500 W. Pico Blvd.

Los Angeles, CA 90064 310.559.5570

PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222

WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000

Luxury Real Estate + Lifestyle Palos Verdes | Beach Cities | L.A. DRE# 02080334

Connect with me Website: www.luxuristLA.com dianmcmanus@outlook.com Cell: 310-980-7034 Facebook: @luxuristLA IG: @luxuristLA

RE/MAX Estate Properties 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

Dian McManus, RealtorÂŽ Luxury Market + Lifestyle Cell: 310.980.7034 DRE# 02080334

RE/MAX Estate Properties 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274