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
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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