Vol. 6 | October 2020
Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities
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
Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor Cities Palos Verdes Estates........................................................3 Rancho Palos Verdes........................................................4 Rolling Hills.......................................................................5 Rolling Hills Estates .........................................................6 San Pedro.........................................................................7 Wilmington.......................................................................8 Harbor City .......................................................................9
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.
Palos Verdes Estates SEPTEMBER STATS Key Facts:
SEPTEMBER SEPTEMBER %
2019
Median Price (in $1,000)
$2,220,000
Median Sold Price
$2,933,000
Average Sold Price
52
Average Price Per Sq. Foot
Listings Pending
24
Listings Sold
Change
$1,950
$2,220
14%
$727
$869
20%
Properties for Sale
80
52 -35%
Properties Pending Sales
15
21 40%
Properties Sold
13
24 85%
Days on Market (Sold Homes)
59
34 -42%
Monthly Supply of Inventory
6.2
2.2 -65%
Absorption Rate (Closed Sales) 16.3
46.2 183%
Listings for Sale
21
2020
AVERAGE & MEDIAN PRICE $3,500 $3,500
$2,933
$3,000 $3,000 $2,593 $2,220
$2,500 $2,500 $2,000 $2,000
$1,655
34
Days On Market
$1,500 $1,500 $1,000 $1,000
$500 $500 $$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Rancho Palos Verdes SEPTEMBER STATS Key Facts:
$1,355,000 Median Sold Price
$1,600,000
Average Sold Price
48
2019
2020
Change
Median Price (in $1,000)
$1,178
$1,355
15%
Average Price Per Sq. Foot
$569
$638
12%
Properties for Sale
140
48 -66%
Properties Pending Sales
41
61 49%
Properties Sold
38
44 16%
Days on Market (Sold Homes)
41
33 -20%
Monthly Supply of Inventory
3.7
1.1 -70%
Absorption Rate (Closed Sales) 27.1
Listings for Sale
61
Listings Pending
SEPTEMBER SEPTEMBER %
AVERAGE & MEDIAN PRICE $2,000 $3,500
$1,600
$1,800 $3,000 $1,600
44
Listings Sold
$1,355 $2,593
$1,400 $2,500 $1,200 $2,000
$1,655
$1,000
33
Days On Market
91.7 238%
$1,500 $800 $600 $1,000 $400 $500 $200 $$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
Rolling Hills SEPTEMBER STATS Key Facts:
SEPTEMBER SEPTEMBER %
2019
Median Price (in $1,000)
$3,433,000
Median Sold Price
$3,629,000
Average Sold Price
13
Average Price Per Sq. Foot
Listings Pending
Change
$3,559
$3,433
-4%
$720
$764
6%
Properties for Sale
20
13 -35%
Properties Pending Sales
0
5 N/A
Properties Sold
1
6 500%
Days on Market (Sold Homes)
11
47 327%
Monthly Supply of Inventory
20
2.2 -89%
5
46.2 824%
Absorption Rate (Closed Sales)
Listings for Sale
5
2020
AVERAGE & MEDIAN PRICE $5,000 $3,500 $4,500
$3,629
$3,000 $4,000
6
Listings Sold
$3,433 $2,593
$3,500 $2,500 $3,000 $2,000 $2,500
47
Days On Market
$1,655
$2,000 $1,500 $1,500 $1,000 $1,000 $500 $500 $$-
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Rolling Hills Estates SEPTEMBER STATS Key Facts:
$1,400,000 Median Sold Price
$1,781,000
Average Sold Price
42
Listings Pending
2019
2020
Change
Median Price (in $1,000)
$1,143
$1,400
22%
Average Price Per Sq. Foot
$602
$709
18%
Properties for Sale
77
42 -45%
Properties Pending Sales
34
34 0%
Properties Sold
34
33 -3%
Days on Market (Sold Homes)
33
29 -12%
Monthly Supply of Inventory
2.3
1.3 -43%
Absorption Rate (Closed Sales) 44.2 78.6 78%
Listings for Sale
34
SEPTEMBER SEPTEMBER %
AVERAGE & MEDIAN PRICE $2,000 $3,500
$1,781
$1,800 $3,000 $1,600
33
Listings Sold
$2,593 $1,400
$1,400 $2,500 $1,200 $2,000 $1,000
29
Days On Market
$1,655
$1,500 $800 $600 $1,000 $400 $500 $200 $$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
San Pedro SEPTEMBER STATS Key Facts:
$678,000
Median Sold Price
$725,000
Average Sold Price
55
2019
2020
Change
Median Price (in $1,000)
$620
$678
9%
Average Price Per Sq. Foot
$426
$442
4%
Properties for Sale
95
55 -42%
Properties Pending Sales
36
75 108%
Properties Sold
37
56 51%
Days on Market (Sold Homes)
34
25 -26%
Monthly Supply of Inventory
2.6
1 -62%
Absorption Rate (Closed Sales) 38.9
Listings for Sale
75
Listings Pending
SEPTEMBER SEPTEMBER %
AVERAGE & MEDIAN PRICE $3,500 $800
$725 $678
$3,000 $700
56
Listings Sold
$2,593
$600 $2,500 $500 $2,000
$1,655
$400
25
Days On Market
101.8 162%
$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
Wilmington SEPTEMBER STATS Key Facts:
$540,000 Median Sold Price
$510,000
Average Sold Price
11
2019
2020
Change
Median Price (in $1,000)
$455
$540
19%
Average Price Per Sq. Foot
$321
$377
17%
Properties for Sale
26
11 -58%
Properties Pending Sales
5
11 120%
Properties Sold
7
7 0%
Days on Market (Sold Homes)
16
10 -38%
Monthly Supply of Inventory
3.7
1.6 -57%
Absorption Rate (Closed Sales) 26.9
63.6 136%
Listings for Sale
11
Listings Pending
SEPTEMBER SEPTEMBER %
AVERAGE & MEDIAN PRICE $510
$600 $3,500
$540
$500 $3,000
7
Listings Sold
$2,593 $2,500 $400 $2,000 $300
10
Days On Market
$1,655
$1,500 $200 $1,000 $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
Harbor City SEPTEMBER STATS Key Facts:
$625,000
Median Sold Price
$574,000
Average Sold Price
12
Listings Pending
2019
2020
Change
Median Price (in $1,000)
$541
$625
16%
Average Price Per Sq. Foot
$346
$488
41%
Properties for Sale
37
12 -68%
Properties Pending Sales
17
21 24%
Properties Sold
22
11 -50%
Days on Market (Sold Homes)
38
9 -76%
Monthly Supply of Inventory
1.7
1.1 -35%
Absorption Rate (Closed Sales) 59.5 91.7 54%
Listings for Sale
21
SEPTEMBER SEPTEMBER %
AVERAGE & MEDIAN PRICE $800 $3,500 $700
$574
$625
$3,000 $600
11
Listings Sold
$2,593 $2,500 $500 $2,000 $400
9
Days On Market
$1,655
$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
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
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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