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