Steve Goddard Market Intelligence Report South Bay

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

CONNECT WITH US f REMAXEstateProperties

z EPLAHomes t remaxepla

i RE/MAX Estate Properties c REMAXEPLA

© 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