Diane Stone Market Intelligence Report South Bay & Palos Verdes

South Bay and Palos Verdes Market Intelligence Report Vol. 4 | August 2018 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors El Segundo Gardena Hermosa Beach Lomita Manhattan Beach Palos Verdes Estates

Rancho Palos Verdes Redondo Beach Rolling Hills Rolling Hills Estates San Pedro Torrance

RE/MAX Estate Properties 700+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International

Diane Stone

REALTOR®

ABR, SRES, CNE, CIAS, PV Specialist, Luxury 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Five Star Real Estate Agent 2014, 2015, 2016, 2017, 2018

310.796.6140

dianestonehomes@gmail.com www.dianestonesouthbay.com Lic# 01823115

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.

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.

Average Price Per Square Foot:

Found by taking the price of each property and dividing that by its Properties Pending sale: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.

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.

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 August 2018 are based on data available at the end of July 2018. 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.

SouthBay & Palos Verdes Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay and Palos Verdes.

El Segundo....................................................................................................4 Gardena........................................................................................................5 Hermosa Beach............................................................................................6 Lomita...........................................................................................................7 Manhattan Beach.........................................................................................8 Palos Verdes Estates ....................................................................................9 Rancho Palos Verdes .................................................................................10 Redondo Beach .........................................................................................11 Rolling Hills.................................................................................................12 Rolling Hills Estates....................................................................................13 San Pedro ...................................................................................................14 Torrance......................................................................................................15

El Segundo juLY Stats Key Facts:

$1,020,000

Median Sold Price

$1,133,000

Average Sold Price

16

JULY JULY % 2017 2018 Change

Median Price

$1,010

$1,020

1%

$581

$633

9%

Average Price Per Sq. Foot

Properties for Sale

18

16 -11%

Properties Pending Sales

11

14 27%

Properties Sold

15

15 0%

Days on Market (Sold Homes)

28

32 14%

Monthly Supply of Inventory

1.2

1.1 -8%

Absorption Rate (closed sales) 83.3 93.8 13%

Listings for Sale

14

Listings Pending

Average & Median Price $3,500 $1,600

$1,400 $3,000

15

Listings Sold

32

Days On Market

$2,593

$1,133

$1,200 $2,500

$1,020

$1,000 $2,000 $1,655

$800 $1,500 $600 $1,000

$400 $500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Gardena JULY Stats Key Facts:

$565,000

Median Sold Price

$545,000

Average Sold Price

49

Listings Pending

$520

$565

9%

Average Price Per Sq. Foot

$352

$388

10%

Properties for Sale

40

49 23%

Properties Pending Sales

43

37 -14%

Properties Sold

51

31 -39%

Days on Market (Sold Homes) 18

28 56%

Monthly Supply of Inventory

0.8

1.6 100%

Absorption Rate (closed sales) 127.5

63.3 -50%

Average & Median Price $3,500$700

$545

$3,000$600

31

% Change

Median Price

Listings for Sale

37

JULY JULY 2017 2018

$565 $2,593

$2,500$500

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

28

Days On Market

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

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Hermosa Beach JULY Stats Key Facts:

JULY JULY 2017 2018

Median Price

$1,742,000 Median Sold Price

$2,047,000

Average Sold Price

64

Average Price Per Sq. Foot

% Change

$2,063

$1,742

-16%

$857

$1,054

23%

Properties for Sale

54

64 19%

Properties Pending Sales

17

16 -6%

Properties Sold

18

20 11%

Days on Market (Sold Homes) 32

32 0%

Monthly Supply of Inventory

3.2 7%

3

Absorption Rate (closed sales) 33.3 31.3 -6%

Listings for Sale

Average & Median Price $3,500

16

Listings Pending

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

$2,500

20

Listings Sold

$2,047 $2,593

$2,500

$2,000 $2,000

$1,742 $1,655

32

Days On Market

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

$500 $500 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Lomita JULY Stats Key Facts:

$720,000 Median Sold Price

$678,000

Average Sold Price

17

JULY JULY 2017 2018

Median Price

$599

$720

20%

Average Price Per Sq. Foot

$383

$449

17%

Properties for Sale

14

17 21%

Properties Pending Sales

17

14 -18%

Properties Sold

18

10 -44%

Days on Market (Sold Homes) 28

17 -39%

Monthly Supply of Inventory

1.7 113%

Listings Pending

0.8

Absorption Rate (closed sales) 128.6 58.8 -54%

Listings for Sale

14

% Change

Average & Median Price $3,500 $800

$678

$720

$700 $3,000

10

Listings Sold

17

Days On Market

$2,593

$600 $2,500 $500 $2,000

$1,655

$400 $1,500 $300 $1,000

$200 $500 $100 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Manhattan Beach juLY Stats Key Facts:

$2,240,000

Median Sold Price

$2,689,000

Average Sold Price

93

JULY JULY % 2017 2018 Change

Median Price

$2,425

$2,240

-8%

$975

$1,121

15%

Average Price Per Sq. Foot

Properties for Sale

115

93 -19%

Properties Pending Sales

34

46 35%

Properties Sold

41

49 20%

Days on Market (Sold Homes)

33

49 48%

Monthly Supply of Inventory

2.8

1.9 -32%

Absorption Rate (closed sales) 35.7 52.7 48%

Listings for Sale

46

Listings Pending

Average & Median Price $3,500 $3,500 $2,689

$3,000 $3,000

49

$2,593

$2,500 $2,500

$2,240

Listings Sold $2,000 $2,000

$1,655

49

Days On Market

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

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Palos Verdes Estates juLY Stats Key Facts:

$1,742,000

Median Sold Price

$1,996,000

Average Sold Price

57

JULY JULY % 2017 2018 Change

Median Price

$1,775

$1,742

-2%

Average Price Per Sq. Foot

$810

$708

-13%

Properties for Sale

68

57 -16%

Properties Pending Sales

23

13 -43%

Properties Sold

15

24 60%

Days on Market (Sold Homes)

24

39 63%

Monthly Supply of Inventory

4.5

2.4 -47%

Absorption Rate (closed sales) 22.1

42.1 90%

Listings for Sale

13

Listings Pending

Average & Median Price $3,000 $3,500

$2,500 $3,000

24

$1,996 $2,593 $2,500 $2,000

$1,742

Listings Sold $2,000 $1,500

39

Days On Market

$1,655

$1,500

$1,000 $1,000

$500 $500

$- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Rancho Palos Verdes JULY Stats Key Facts:

$1,232,000 Median Sold Price

$1,198,000

Average Sold Price

131

JULY JULY 2017 2018

Median Price

$1,340

$1,232

-8%

Average Price Per Sq. Foot

$560

$609

9%

Properties for Sale

124 131 6%

Properties Pending Sales

46

43 -7%

Properties Sold

63

42 -33%

Days on Market (Sold Homes) 38

24 -37%

Monthly Supply of Inventory

2

3.1 55%

Absorption Rate (closed sales) 50.8

32.1 -37%

Listings for Sale

43

Listings Pending

42

Listings Sold

% Change

Average & Median Price $1,600 $3,500 $1,400 $3,000

$1,198 $1,232

$1,200 $2,500

$2,593

$1,000 $2,000 $1,655

$800

24

Days On Market

$1,500

$600 $1,000 $400 $500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Redondo Beach JULY Stats Key Facts:

$1,090,000 Median Sold Price

$1,119,000

Average Sold Price

98

JULY JULY 2017 2018

Median Price

$1,000

$1,090

9%

Average Price Per Sq. Foot

$567

$570

1%

Properties for Sale

102

98 -4%

Properties Pending Sales

92

74 -20%

Properties Sold

81

69 -15%

Days on Market (Sold Homes) 20

30 50%

Monthly Supply of Inventory

1.4 8%

Absorption Rate (closed sales) 79.4 70.4 -11%

Listings for Sale

74

Listings Pending

1.3

Average & Median Price $3,500 $1,400 $3,000 $1,200

69

Listings Sold

% Change

$1,119 $1,090 $2,593

$2,500 $1,000 $2,000 $800

30

Days On Market

$1,655

$1,500 $600 $1,000 $400 $500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Rolling Hills juLY Stats Key Facts:

NA

Median Sold Price

NA

Average Sold Price

35

JULY JULY % 2017 2018 Change

Median Price

$4,275

NA

NA

$887

NA

NA

Average Price Per Sq. Foot

Properties for Sale

27

Properties Pending Sales

0

1 NA

Properties Sold

3

0 NA

Days on Market (Sold Homes)

35

NA NA

Monthly Supply of Inventory

9

35 289%

Absorption Rate (closed sales)

11.1

NA NA

Listings for Sale

1

Listings Pending

35 30%

Average & Median Price $4,500 $3,500 $4,000 $3,000 $3,500

0

Listings Sold

$2,593

$2,500 $3,000 $2,000 $2,500 $1,655

NA

Days On Market

$2,000 $1,500 $1,500 $1,000 $1,000 $500 $500 $-

$$-

$-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Rolling Hills Estates JULY Stats Key Facts:

$925,000 Median Sold Price

$1,285,000

Average Sold Price

25

JULY JULY 2017 2018

Median Price

$1,309

$925

-29%

$597

$588

-2%

Average Price Per Sq. Foot

Properties for Sale

32

25 -22%

Properties Pending Sales

16

13 -19%

Properties Sold

12

12 0%

Days on Market (Sold Homes) 33

35 6%

Monthly Supply of Inventory

2.1 -22%

Listings Pending

2.7

Absorption Rate (closed sales) 37.5 48 28%

Listings for Sale

13

Average & Median Price $1,800 $3,500 $1,600 $3,000 $1,400

12

Listings Sold

$1,285

Days On Market

$2,593

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

35

% Change

$925 $1,655

$800 $1,500 $600 $1,000 $400 $500 $200 $- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

San Pedro juLY Stats Key Facts:

$567,000

Median Sold Price

$575,000

Average Sold Price

88

Median Price

$542

$567

5%

Average Price Per Sq. Foot

$414

$395

-5%

Properties for Sale

109

88 -19%

Properties Pending Sales

65

62 -5%

Properties Sold

61

60 -2%

Days on Market (Sold Homes)

28

28 0%

Monthly Supply of Inventory

1.8

1.5 -17%

Absorption Rate (closed sales)

56

68.2 22%

Listings for Sale

62

Listings Pending

JULY JULY % 2017 2018 Change

Average & Median Price $3,500 $700

$575

$3,000 $600

60

Listings Sold

$567 $2,593

$2,500 $500 $2,000 $400

28

Days On Market

$1,655

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

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

Torrance juLY Stats Key Facts:

$750,000

Median Sold Price

$810,000

Average Sold Price

148

Median Price

$763

$750

-2%

Average Price Per Sq. Foot

$487

$514

6%

Properties for Sale

128

148 16%

Properties Pending Sales

119

109 -8%

Properties Sold

90

111 23%

Days on Market (Sold Homes)

25

25 0%

Monthly Supply of Inventory

1.4

1.3 -7%

Absorption Rate (closed sales) 70.3 75 7%

Listings for Sale

109

Listings Pending

JULY JULY % 2017 2018 Change

Average & Median Price $1,400 $3,500 $1,200 $3,000

111

Listings Sold

$2,593

$1,000 $2,500

$810

$2,000 $800

$750 $1,655

25

Days On Market

$1,500 $600

$1,000 $400

$500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average

RE/MAX Estate Properties • 700+ Local Agents • 16 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

WEST LOS ANGELES 10931 W. Pico Blvd.

Los Angeles, CA 90064

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

MARINA DEL REY / VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292 Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG ELES | SOUT H BAY| www.REMAXC IR.com

LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071

SOUTH BAY 23001 Hawthorne Blvd., Suite 205 Torrance, CA 90505

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© 2015-18 RE/MAX Estate Properties

Diane Stone

REALTOR®

ABR, SRES, CNE, CIAS, PV Specialist, Luxury 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Five Star Real Estate Agent 2014, 2015, 2016, 2017, 2018

310.796.6140

dianestonehomes@gmail.com www.dianestonesouthbay.com Lic# 01823115