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Vol. 6 | August 2020

Market Intelligence Report Palos Verdes Peninsula & San Pedro 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

Diane Stone

REALTOR®

CLHMS | RRC | ABR | SRES | Palos Verdes Specialist | CIAS | CNE Certified Luxury Home Marketing Specialist Forbes 2018-2020 Five Star Real Estate Agent 2014-2020

310.796.6140

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


Palos Verdes Peninsula Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout Palos Verdes and San Pedro.

Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8


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 August 2020 are based on data available at the end of July 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 july Stats Key Facts:

$1,954,000

Median Sold Price

$2,097,000

Average Sold Price

52

JULY JULY % 2019 2020 Change

Median Price (in $1,000)

$1,930

$1,954

1%

Average Price Per Sq. Foot

$687

$747

9%

Properties for Sale

100

52 -48%

Properties Pending Sales

21

34 62%

Properties Sold

27

16 -41%

Days on Market (Sold Homes)

71

68 -4%

Monthly Supply of Inventory

3.7

3.3 -11%

Absorption Rate (Closed Sales) 27

Listings for Sale

34

Listings Pending

Average & Median Price $3,000 $3,500 $2,500 $3,000

16

Listings Sold

$2,097 $1,954 $2,593

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

68

Days On Market

30.8 14%

$1,655

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

$$Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rancho Palos Verdes JULY Stats Key Facts:

$1,298,000 Median Sold Price

$1,776,000

Average Sold Price

78

JULY 2019

JULY 2020

Median Price (in $1,000)

$1,225

$1,298

6%

Average Price Per Sq. Foot

$603

$674

12%

Properties for Sale

150

78 -48%

Properties Pending Sales

44

51 16%

Properties Sold

49

52 6%

Days on Market (Sold Homes)

42

27 -36%

Monthly Supply of Inventory

3.1

1.5 -52%

Absorption Rate (Closed Sales) 32.7

66.7 104%

Listings for Sale

51

Listings Pending

% Change

Average & Median Price $2,000 $3,500

$1,776

$1,800 $3,000 $1,600

52

Listings Sold

$2,593 $1,298

$1,400 $2,500 $1,200 $2,000

$1,655

$1,000

27

Days On Market

$1,500 $800 $600 $1,000 $400 $500 $200 $$Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rolling Hills july Stats Key Facts:

$4,300,000

Median Sold Price

$4,417,000

Average Sold Price

15

JULY JULY % 2019 2020 Change

Median Price (in $1,000)

$3,625

$4,300

19%

$659

$740

12%

Average Price Per Sq. Foot Properties for Sale

19

15 -21%

Properties Pending Sales

0

4 N/A

Properties Sold

1

3 200%

Days on Market (Sold Homes)

117

77 -34%

Monthly Supply of Inventory

19

5 -74%

Absorption Rate (Closed Sales) 5.3

20 277%

Listings for Sale

4

Listings Pending

Average & Median Price $4,417

$5,000

$4,300

$3,500 $4,500 $3,000 $4,000

3

Listings Sold

$2,593

$3,500 $2,500 $3,000 $2,000 $2,500

77

Days On Market

$1,655

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

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rolling Hills Estates JULY Stats Key Facts:

$1,311,000 Median Sold Price

$1,522,000

Average Sold Price

57

JULY 2019

JULY 2020

Median Price (in $1,000)

$1,372

$1,311

-4%

Average Price Per Sq. Foot

$663

$681

3%

Properties for Sale

86

57 -34%

Properties Pending Sales

35

30 -14%

Properties Sold

26

39 50%

Days on Market (Sold Homes)

22

36 64%

Monthly Supply of Inventory

3.3

1.5 -55%

Absorption Rate (Closed Sales) 30.2

68.4 126%

Listings for Sale

30

Listings Pending

Average & Median Price $1,800 $3,500

$1,522

$1,600 $3,000 $1,400

39

Listings Sold

% Change

$1,311 $2,593

$2,500 $1,200 $1,000 $2,000 $1,655

36

Days On Market

$800 $1,500 $600 $1,000 $400 $500 $200 $$Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 Median

Average


San Pedro july Stats Key Facts:

$680,000

Median Sold Price

$704,000

Average Sold Price

64

Median Price (in $1,000)

$557

$680

22%

Average Price Per Sq. Foot

$449

$447

0%

Properties for Sale

111

64 -42%

Properties Pending Sales

53

71 34%

Properties Sold

66

56 -15%

Days on Market (Sold Homes)

30

27 -10%

Monthly Supply of Inventory

1.7

1.1 -35%

Absorption Rate (Closed Sales) 59.5 87.5 47%

Listings for Sale

71

Listings Pending

JULY JULY % 2019 2020 Change

Average & Median Price $3,500 $800

$704 $680

$3,000 $700

56

Listings Sold

$2,593

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

$1,655

$400

27

Days On Market

$1,500 $300 $1,000 $200 $500 $100 $-$Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 Median

Average


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

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

WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277

MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

EL SEGUNDO 402 Main Street El Segundo, CA 90245

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266


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Diane Stone

REALTOR®

CLHMS | RRC | ABR | SRES | Palos Verdes Specialist | CIAS | CNE Certified Luxury Home Marketing Specialist Forbes 2018-2020 Five Star Real Estate Agent 2014-2020

310.796.6140

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

Profile for RE/MAX Estate Properties

Diane Stone Market Intelligence Report Palos Verdes  

Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities.

Diane Stone Market Intelligence Report Palos Verdes  

Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities.