__MAIN_TEXT__

Page 1

Vol. 6 | August 2020

Market Intelligence Report South Bay Edition Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community

RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

Gerry Athas-Vazquez 310-413-4089 GerryAVRealtor.com

GerryAVrealtor@gmail.com DRE# 01742286


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo.............................................................3 Gardena .................................................................4 Hawthorne.............................................................5 Hermosa Beach .....................................................6 Lawndale ...............................................................7 Lomita ....................................................................8 Manhattan Beach ..................................................9 Redondo Beach ...................................................10 Torrance ...............................................................11


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.


El Segundo july Stats Key Facts:

$1,384,000

Median Sold Price

$1,472,000

Average Sold Price

JULY JULY % 2019 2020 Change

Median Price (in $1,000)

$1,180

$1,384

17%

Average Price Per Sq. Foot

$677

$709

5%

Properties for Sale

13

24 85%

Properties Pending Sales

11

9 -18%

Properties Sold

13

12 -8%

Days on Market (Sold Homes)

38

17 -55%

1

2 100%

Monthly Supply of Inventory

24

Listings for Sale

9

Listings Pending

Absorption Rate (Closed Sales) 100 $1,800

50 -50%

Average & Median Price

$1,600

$3,500 $1,400

$3,000 $1,200

12

Listings Sold

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

$2,000

$800

17

Days On Market

$1,655

$1,500

$600

$1,000

$400

$500

$200

$-

$Jul 2019 Aug 2019

Sep 2019

Oct 2019

Nov 2019

Median

Jan 2020

Feb 2020

Mar 2020

Average

Apr 2020

May 2020

Jun Jul 2020 2020


Gardena JULY Stats Key Facts:

$578,000

Median Sold Price

$555,000

Average Sold Price

19

JULY 2019

Listings Pending

$565

$578

2%

Average Price Per Sq. Foot

$414

$416

0%

Properties for Sale

58

19 -67%

Properties Pending Sales

44

42 -5%

Properties Sold

40

30 -25%

Days on Market (Sold Homes)

25

17 -32%

Monthly Supply of Inventory

1.5

0.6 -60%

Absorption Rate (Closed Sales) 69

157.9 129%

Average & Median Price $620 $3,500 $555

$600 $3,000

30

Listings Sold

% Change

Median Price (in $1,000)

Listings for Sale

42

JULY 2020

$578 $2,593

$580 $2,500 $560

$2,000 $1,655

$540

17

Days On Market

$1,500 $520 $1,000 $500 $500 $480 $$460 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


Hawthorne july Stats Key Facts:

$760,000

Median Sold Price

$768,000

Average Sold Price

42

JULY JULY % 2019 2020 Change

Median Price (in $1,000)

$709

$760

7%

Average Price Per Sq. Foot

$515

$533

3%

Properties for Sale

42

42 0%

Properties Pending Sales

39

48 23%

Properties Sold

34

33 -3%

Days on Market (Sold Homes)

25

30 20%

Monthly Supply of Inventory

1.2

1.3 8%

Absorption Rate (Closed Sales) 81

Listings for Sale

48

Listings Pending

78.6 -3%

Average & Median Price $3,500$900

$768 $760

$800

$3,000 $700

33

Listings Sold

$2,593

$2,500

$600

$2,000$500 $1,655 $400

30

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


Hermosa Beach JULY Stats Key Facts:

$2,125,000 Median Sold Price

$2,427,000

Average Sold Price

55

JULY 2019

JULY 2020

% Change

Median Price (in $1,000)

$1,675

$2,125

27%

Average Price Per Sq. Foot

$1,073

$1,039

-3%

Properties for Sale

72

55 -24%

Properties Pending Sales

20

28 40%

Properties Sold

19

27 42%

Days on Market (Sold Homes)

46

55 20%

Monthly Supply of Inventory

3.8

2 -47%

Absorption Rate (Closed Sales) 26.4 49.1 86%

Listings for Sale

28

Listings Pending

Average & Median Price $2,427

$3,000

$3,500 $2,500

$3,000

27

$2,125

$2,593

$2,000 $2,500

Listings Sold $2,000

$1,500

55

Days On Market

$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


Lawndale july Stats Key Facts:

$659,000

Median Sold Price

$653,000

Average Sold Price

JULY JULY % 2019 2020 Change

Median Price (in $1,000)

$638

$659

3%

Average Price Per Sq. Foot

$413

$451

9%

Properties for Sale

16

17 6%

Properties Pending Sales

14

18 29%

Properties Sold

16

14 -13%

Days on Market (Sold Homes)

29

32 10%

1

1.2 20%

Absorption Rate (Closed Sales) 100

82.4 -18%

Monthly Supply of Inventory

17

Listings for Sale

18

Listings Pending

Average & Median Price $3,500

$653

$800

$3,000 $700

14

Listings Sold

$659

$2,593

$600 $2,500 $500

$2,000

$1,655

$400

32

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


Lomita JULY Stats Key Facts:

$717,000 Median Sold Price

$697,000

Average Sold Price

12

JULY 2019

Listings Pending

% Change

Median Price (in $1,000)

$705

$717

2%

Average Price Per Sq. Foot

$418

$427

2%

Properties for Sale

18

12 -33%

Properties Pending Sales

15

23 53%

Properties Sold

21

8 -62%

Days on Market (Sold Homes)

37

35 -5%

Monthly Supply of Inventory

0.9

1.5 67%

Absorption Rate (Closed Sales) 116.7

Listings for Sale

23

JULY 2020

66.7 -43%

Average & Median Price $3,500 $900 $697

$3,000 $800

$717

8

Listings Sold

$2,593

$700

$2,500

$600

$2,000

$500

35

Days On Market

$1,655

$400 $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


Manhattan Beach july Stats Key Facts:

$2,199,000 Median Sold Price

$2,497,000 Average Sold Price

134

JULY JULY % 2019 2020 Change

Median Price (in $1,000)

$2,400

$2,199

-8%

Average Price Per Sq. Foot

$984

$969

-2%

Properties for Sale

128 134 5%

Properties Pending Sales

28

55 96%

Properties Sold

31

47 52%

Days on Market (Sold Homes)

33

38 15%

Monthly Supply of Inventory

4.1

2.9 -29%

Absorption Rate (Closed Sales) 24.2 35.1 45%

Listings for Sale

55 Listings Pending

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

47 Listings Sold

$2,593 $2,497

$3,000 $2,500

$2,199

$2,500 $2,000

$1,655

$2,000

38

Days On Market

$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


Redondo Beach JULY Stats Key Facts:

$1,120,000 Median Sold Price

$1,252,000

Average Sold Price

115

JULY 2019

JULY 2020

Median Price (in $1,000)

$1,100

$1,120

2%

Average Price Per Sq. Foot

$596

$637

7%

Properties for Sale

118

115 -3%

Properties Pending Sales

60

93 55%

Properties Sold

72

83 15%

Days on Market (Sold Homes)

28

30 7%

Monthly Supply of Inventory

1.6

1.4 -13%

Absorption Rate (Closed Sales) 61

72.2 18%

Listings for Sale

93

Listings Pending

% Change

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

$1,252

$1,400 $3,000 $1,120

83

Listings Sold

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

$1,655

$800

30

Days On Market

$2,593

$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


Torrance july Stats Key Facts:

$910,000

Median Sold Price

$988,000

Average Sold Price

106

JULY JULY % 2019 2020 Change

Median Price (in $1,000)

$840

$910

8%

Average Price Per Sq. Foot

$523

$605

16%

Properties for Sale

137

106 -23%

Properties Pending Sales

91

117 29%

Properties Sold

85

96 13%

Days on Market (Sold Homes)

30

25 -17%

Monthly Supply of Inventory

1.6

1.1 -31%

Absorption Rate (Closed Sales) 62

Listings for Sale

117

Listings Pending

Average & Median Price $988

$1,200 $3,500

$3,000 $1,000

96

Listings Sold

90.6 46%

$910 $2,593

$2,500 $800 $2,000 $1,655

$600

25

Days On Market

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


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


CONNECT WITH US f REMAXEstateProperties

z EPLAHomes t remaxepla

i RE/MAX Estate Properties c REMAXEPLA

© 2015-20 RE/MAX Estate Properties


Gerry Athas-Vazquez 310-413-4089 GerryAVRealtor.com

GerryAVrealtor@gmail.com DRE# 01742286

Profile for RE/MAX Estate Properties

Gerry Athas-Vazquez Market Intelligence Report South Bay  

Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community.

Gerry Athas-Vazquez Market Intelligence Report South Bay  

Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community.