Vol. 6 | January 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 • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
Broker Associate / Manager / Sales Agent Certified Luxury Home Marketing Specialist Certified International Property Specialist Certified Residential Specialist
310-367-7951 Steve@SteveGoddard.com | SteveGoddard.com DRE# 00475933
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......................................................7 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 January 2020 are based on data available at the end of December 2019. 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 DECEMBER STATS Key Facts:
$1,115,000
Median Sold Price
$1,161,000
Average Sold Price
7
DEC DEC % 2018 2019 Change
Median Price (in $1,000)
$860
$1,115
30%
Average Price Per Sq. Foot
$622
$828
33%
Properties for Sale
27
7 -74%
Properties Pending Sales
10
8 -20%
Properties Sold
9
8 -11%
Days on Market (Sold Homes)
41
15 -63%
Monthly Supply of Inventory
3
0.9 -70%
Absorption Rate (Closed Sales) 33.3
114.3 243%
Listings for Sale
AVERAGE & MEDIAN PRICE
$1,800
8
Listings Pending
$1,600
$3,500 $1,400
$3,000 $1,200
8
Listings Sold
$2,593
$2,500 $1,000
$2,000 $800
15
Days On Market
$1,655
$1,500 $600
$1,000 $400
$500
$200
$-
$Dec 2018
Jan 2019
Feb 2019
Mar 2019
Apr 2019
Median
Jun Jul 2019 Aug 2019 2019
Average
Sep 2019
Oct 2019
Nov 2019
Dec 2019
Gardena DECEMBER STATS Key Facts:
$590,000
Median Sold Price
$569,000
Average Sold Price
23
DEC 2018
DEC 2019
Median Price (in $1,000)
$540
$590
9%
Average Price Per Sq. Foot
$386
$398
3%
Properties for Sale
52
23 -56%
Properties Pending Sales
23
29 26%
Properties Sold
29
32 10%
Days on Market (Sold Homes)
35
54 54%
Monthly Supply of Inventory
1.8
0.7 -61%
Absorption Rate (Closed Sales) 55.8
139.1 149%
Listings for Sale
29
Listings Pending
AVERAGE & MEDIAN PRICE $3,500$620 $600
$3,000
32
% Change
$569
$590
$580
$2,593
$2,500 $560
Listings Sold
$2,000$540 $1,655
54
Days On Market
$520
$1,500
$500
$1,000 $480
$500$460 $-
$440 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Hawthorne DECEMBER STATS Key Facts:
$695,000
Median Sold Price
$747,000
Average Sold Price
24
DEC DEC % 2018 2019 Change
Median Price (in $1,000)
$674
$695
3%
Average Price Per Sq. Foot
$505
$535
6%
Properties for Sale
45
24 -47%
Properties Pending Sales
21
19 -10%
Properties Sold
16
25 56%
Days on Market (Sold Homes)
37
28 -24%
Monthly Supply of Inventory
2.8
1 -64%
Absorption Rate (Closed Sales) 35.6
Listings for Sale
19
Listings Pending
AVERAGE & MEDIAN PRICE $900
$3,500
$747
$800
$3,000
$695
$700
25
Listings Sold
104.2 193%
$2,593
$2,500
$600
$2,000$500 $1,655 $400
28
Days On Market
$1,500
$300
$1,000
$200
$500$100 $-
$Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Hermosa Beach DECEMBER STATS Key Facts:
$1,730,000 Median Sold Price
$2,208,000
Average Sold Price
30
DEC 2018
DEC 2019
% Change
Median Price (in $1,000)
$1,906
$1,730
-9%
Average Price Per Sq. Foot
$1,450
$1,113
-23%
Properties for Sale
45
30 -33%
Properties Pending Sales
7
16 129%
Properties Sold
10
27 170%
Days on Market (Sold Homes)
87
59 -32%
Monthly Supply of Inventory
4.5
1.1 -76%
Absorption Rate (Closed Sales) 22.2
90 305%
Listings for Sale
16
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$3,500 $3,000
$3,000
27
Listings Sold
$2,208
$2,500
$2,593
$2,500 $2,000
$2,000
$1,730
$1,655 $1,500
59
Days On Market
$1,500
$1,000
$1,000
$500
$500
$- $-
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Lawndale DECEMBER STATS Key Facts:
$617,000
Median Sold Price
$597,000
Average Sold Price
10
Median Price (in $1,000)
$572
$617
8%
Average Price Per Sq. Foot
$388
$460
19%
Properties for Sale
18
10 -44%
Properties Pending Sales
6
6 0%
Properties Sold
11
10 -9%
Days on Market (Sold Homes)
23
44 91%
Monthly Supply of Inventory
1.6
1 -38%
Absorption Rate (Closed Sales) 61.1
Listings for Sale
6
Listings Pending
DEC DEC % 2018 2019 Change
AVERAGE & MEDIAN PRICE $3,500
$800 $597
$3,000 $700
10
Listings Sold
100 64%
$617
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
44
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $-
$-
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Lomita DECEMBER STATS Key Facts:
$633,000 Median Sold Price
$706,000
Average Sold Price
9
DEC 2018
Listings Pending
$615
$633
3%
Average Price Per Sq. Foot
$408
$443
9%
Properties for Sale
21
9 -57%
Properties Pending Sales
5
15 200%
Properties Sold
9
14 56%
Days on Market (Sold Homes)
43
45 5%
Monthly Supply of Inventory
2.3
0.6 -74%
Absorption Rate (Closed Sales) 42.9
155.6 263%
AVERAGE & MEDIAN PRICE $3,500
$900
$800 $3,000
14
Listings Sold
% Change
Median Price (in $1,000)
Listings for Sale
15
DEC 2019
$706
$2,593
$700
$2,500
$633
$600
$2,000
$500
45
Days On Market
$1,655
$400 $1,500 $300
$1,000 $200
$500
$100
$-$-
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Manhattan Beach DECEMBER STATS Key Facts:
$2,453,000
Median Sold Price
$2,652,000
Average Sold Price
63
DEC DEC % 2018 2019 Change
Median Price (in $1,000)
$2,438
$2,453
1%
Average Price Per Sq. Foot
$1,079
$1,105
2%
Properties for Sale
68
63 -7%
Properties Pending Sales
17
22 29%
Properties Sold
22
36 64%
Days on Market (Sold Homes)
63
64 2%
Monthly Supply of Inventory
3.1
1.8 -42%
Absorption Rate (Closed Sales) 32.4 57.1 76%
Listings for Sale
22
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$3,500
$3,000
$3,000
36
Listings Sold
$2,652
$2,593 $2,453
$2,500
$2,500
$2,000 $2,000 $1,655
64
Days On Market
$1,500 $1,500 $1,000 $1,000 $500 $500
$-
$Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Redondo Beach DECEMBER STATS Key Facts:
DEC 2018
DEC 2019
$1,050
$1,150
10%
Average Price Per Sq. Foot
$588
$619
5%
Properties for Sale
108
60 -44%
Properties Pending Sales
33
34 3%
Properties Sold
56
59 5%
Days on Market (Sold Homes)
32
44 38%
Monthly Supply of Inventory
1.9
1 -47%
Median Price (in $1,000)
$1,150,000 Median Sold Price
$1,171,000
Average Sold Price
60
Absorption Rate (Closed Sales) 51.9
Listings for Sale
34
Listings Pending
$3,500 $1,400 $1,171 $1,150
$1,200
Listings Sold
$2,593 $2,500
$1,000
$2,000 $800
44
Days On Market
98.3 89%
AVERAGE & MEDIAN PRICE
$3,000
59
% Change
$1,655
$1,500 $600 $400 $1,000 $200 $500
$-
$Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Torrance DECEMBER STATS Key Facts:
$861,000
Median Sold Price
$923,000
Average Sold Price
61
Median Price (in $1,000)
$838
$861
3%
Average Price Per Sq. Foot
$542
$551
2%
Properties for Sale
86
61 -29%
Properties Pending Sales
63
43 -32%
Properties Sold
66
89 35%
Days on Market (Sold Homes)
32
30 -6%
Monthly Supply of Inventory
1.3
0.7 -46%
Absorption Rate (Closed Sales) 76.7 145.9 90%
Listings for Sale
43
Listings Pending
DEC DEC % 2018 2019 Change
AVERAGE & MEDIAN PRICE $3,500 $1,000
$923
$900
$861
$3,000
$800
89
$2,593
$2,500$700
Listings Sold
$600
$2,000
$1,655
$500
30
Days On Market
$1,500$400 $300
$1,000
$200
$500
$100
$-
$Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
RE/MAX Estate Properties • 600+ Local Agents • 13 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
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
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© 2015-19 RE/MAX Estate Properties
Notes:
Broker Associate / Manager / Sales Agent Certified Luxury Home Marketing Specialist Certified International Property Specialist Certified Residential Specialist
310-367-7951 Steve@SteveGoddard.com | SteveGoddard.com DRE# 00475933