Dian McManus Market Intelligence Reports Palos Verdes

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

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