Gerry Vazquez Palos Verdes Q2 2022

Page 1

Gerry’s Q2 Market Report

PALOS VERDES Quarterly Quarterly MarketIntelligence Intelligence Report Report 1st Quarter 2022 2nd Quarter 2022

Gerry Athas-Vazquez 310-413-4089

GerryAVrealtor@gmail.com

GerryAVRealtor.com

DRE# 01742286


PALOS VERDES MARKETS Harbor City

4

Palos Verdes Estates

6

Rancho Palos Verdes

8

Rolling Hills

10

Rolling Hills Estates

12

San Pedro

14

Wilmington

16


REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.

PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.

PROPERTIES FOR SALE: The total number of available properties for sale.

DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.

SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from the previous month exceed current inventory.

The Palos Verdes Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.


HARBOR CITY Harbor City is a growing, vibrant community just east of the Palos Verdes Peninsula and 30 minutes south of downtown Los Angeles. Ideally located as a gateway between the port cities and beach cities, residents have easy access to explore the greater Los Angeles area. Harbor City is home to an expansive Kaiser hospital, regional park, and community college – providing avenues for wellness and work opportunities. Housing in Harbor City is a mixture of single-family residences and low-rise apartments, many of which are walkable to parks and delicious restaurants.

ATTRACTIONS

RESTAURANTS

Ken Malloy Harbor Park

Harbor City Library

Tacos El Goloso

Philipo's Pizza and Pasta

Machado Lake

Harbor City Skatepark

Raku Sushi Tonkatsu

Monarca's Mexican Food

Los Angeles Harbor College

The Skating Edge Ice Arena

Baja Fish Grill

Chicken Maison


MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

79

46

$781K

7

$511

58%

57

55

$623K

7

$427

96%

+39%

-16%

+25%

0%

+20%

-40%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $830,000

$704,083 $642,000

$767,500

$522,800 $744,000

20 16

Apr-21

21

20

20

15

May-21

Jun-21

31

25

23 18

Apr-22

15

May-22

13

Jun-22


PALOS VERDES ESTATES Master-planned by noted landscape architect Fredrick Law Olmstead Jr., Palos Verdes Estates is perched on the northwestern edge of the Palos Verdes Peninsula. The city is ideally located for postcard perfect views and privacy while still offering close proximity to South Bay beach city nightlife. It is known for its high-performing schools, and Palos Verdes Peninsula High School is consistently found in top ranks in national publications. Residences in the area are pleasantly placed in between several open and green spaces and range from mid-century modern family homes to $10 million+ palatial estates, offering many options for buyers.

ATTRACTIONS

RESTAURANTS

Palos Verdes Golf Club

Flat Rock Point & Beach

Salsa Verdes

Malaga Cove Ranch Market

Bluff Cove Trail

George Allen Field

Black Bamboo Sushi

Rafaello's Pizza

Malaga Dunes

Roessler Point

The Cove Cafe

Lunada Market & Deli


MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

94

51

$3.17 M

8

$1,101

54%

129

59

$2.32 M

9

$874

46%

-27%

-14%

+37%

-11%

+26%

+19%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price

$2,562,500 $2,331,359

$3,465,000 $3,051,000

$2,070,000 $3,000,000

49

43

37 20

Apr-21

23

May-21

16

Jun-21

26

38

30 16

Apr-22

24 11

May-22

Jun-22


RANCHO PALOS VERDES Anchored by the iconic Point Vicente Lighthouse and dramatic coastal views of Catalina Island and beyond, Rancho Palos Verdes is the largest city on the peninsula. Like its neighbors, the city enjoys highly ranked schools and is consistently ranked as one of the wealthiest zip codes in the United States. Recreation activities abound in the many horse and hiking trails as well as two golf courses, the Terranea Resort, and several parks. Top city employers are in the education, resort, and real estate industries. Real estate opportunities are largely single-family homes that range from mid-century traditional single-story homes to truly exceptional estates.

ATTRACTIONS

RESTAURANTS

Los Verdes Golf Course

Peninsula Racquet Club

Mar'sel

Tomatillo Mexican Grill

Point Vicente Lighthouse

Terranea Resort

Swan Thai

Nelson's

Abalone Cove Trail & Beach

Del Cerro Park

Avenue Italy

Peninsula Tap House


MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

187

143

$1.82 M

8

$842

76%

229

169

$1.70 M

7

$715

74%

-18%

-15%

+7%

+9%

+18%

+4%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price

$1,777,500 $1,867,500

$1,715,000

$1,799,000

$1,797,500

$1,607,000 90 58

Apr-21

66

54

May-21

73

61

59

57

Jun-21

46

Apr-22

67 54

May-22

43

Jun-22


ROLLING HILLS For those seeking ultimate privacy, Rolling Hills is the perfect community. This equestrian-friendly city is entirely comprised of private land and is only accessible by three gates with 24/7 staffing. Located in the central portion of the Palos Verdes Peninsula, residents are still treated to stunning coastal views, parks, and trails for outdoor activities. Bordered by Portuguese Canyon, Rolling Hills Estates, and Rancho Palos Verdes, Rolling Hills offers a peaceful setting while within close proximity to fine dining, sport and recreation areas, and professional services.

ATTRACTIONS •

Hesse's Gap

Aqua Magna Canyon

Saffo's Rest

Westfield Park

Stormhill Park

Portuguese Canyon


MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

17

6

$3.88 M

15

$1,106

35%

41

19

$4.02 M

19

$1,025

46%

-59%

-68%

-3%

-20%

+8%

-24%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price

$4,916,730 $4,500,000

$4,060,000

$3,125,000 $4,025,000

$3,082,500

17

14 10 4

Apr-21

10 6

5

May-21

Jun-21

3

Apr-22

5

6

2

May-22

1 Jun-22


ROLLING HILLS ESTATES Founded in 1957, Rolling Hills Estates offers small town, semi-rural living with a thriving city organization. Residents are afforded three convenient shopping centers, dining, trail access, and a myriad of local community events throughout the year. The city is best known for its love of all things equestrian, offering over 25 miles of scenic horse trails and an Equestrian Center. Real estate is largely single-family homes with nods to several custom architectural styles to choose from. Located on the northern end of the Peninsula, residents enjoy the tight-knit community as well as the close proximity to urban centers, industry, and world-famous beaches.

ATTRACTIONS

RESTAURANTS

South Coast Botanic Garden •

Peter Weber Equestrian Center

Rolling Hills Park Tennis Club •

Chicken Maison

Mama Terrano

Promenade Ice Chalet

The Original Red Onion

The Crepery Cafe

Rolling Hills Little League

Giorgio's

TantaWan Thai Cuisine


MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

103

82

$1.90 M

8

$817

80%

112

101

$1.63 M

6

$742

90%

-8%

-19%

+17%

+21%

+10%

-12%

YEAR-OVER-YEAR TRENDS Inventory $1,660,000

43

Sales

Median Sales Price

$1,650,000

$1,580,250

$2,385,500

$1,380,000

38

Apr-21

36

$1,940,000 41

30

May-21

33

33

Jun-21

30

31

Apr-22

32

27

May-22

24

Jun-22


SAN PEDRO San Pedro is a unique and vibrant community that feels like its own city. San Pedro is one of the cities with direct access to The Port of Los Angeles, a major international seaport. Originally dominated by the fishing industry, San Pedro has grown into a working class community with a wide variety of outdoor recreation spaces, family-friendly activities, and a thriving shopping and dining scene. San Pedro is also hosts the annual Shakespeare by the annual summer Sea festival. Real estate offerings include single-family homes with some condos available, offering a multitude of styles and finishes.

ATTRACTIONS

RESTAURANTS

Point Fermin Park

Cabrillo Beach Yacht Club

Raffaello Ristorante

J. Trani's Ristorante

Cabrillo Aquarium

Crafted at the Port of LA

Crazy Fish - Grill & Market

Sebastians's Mediterranean

Deane Dana Friendship Park •

Old San Pedro

Sirinat Thai & Sushi Bar

Compagnon Wine Bistro


MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

255

145

$834K

9

$554

57%

240

174

$692K

8

$472

73%

+6%

-17%

+21%

+13%

+17%

-22%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $880,000

$735,000 $700,000

$808,000

$815,000 $640,000 104

89

80

71 49

Apr-21

83

69

56

68 54 41

May-21

Jun-21

Apr-22

May-22

50

Jun-22


WILMINGTON Wilmington is one of the oldest communities in Los Angeles and enjoys a long and proud history of being the gateway to Los Angeles. Inside the area, you will find many historical museums, military installations, six parks, waterfront attractions, a community center, and skate plaza. Wilmington has a heavy concentration of industry and the third largest oil field in the United States, offering several employment opportunities. Wilmington is primarily comprised of single-family homes perfect for families and professionals. Bordered by Long Beach, Carson, and San Pedro, Wilmington offers convenient freeway access to explore greater Los Angeles and beyond.

ATTRACTIONS

RESTAURANTS

Vincent Thomas Bridge

The Banning Museum

San Pedro Fish Market Grille •

Montoya's

Terminal Island

California Yacht Marina

Issac's Cafe

Hojas Premium Tea House

Wilmington Waterfront Park •

John Mendez Baseball Park

The Chowder Barge

Eat at Rudy's


MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

48

34

$608K

11

$521

71%

50

36

$607K

8

$473

72%

-4%

-6%

+0.2%

+32%

+10%

-2%

YEAR-OVER-YEAR TRENDS Inventory

Sales

$659,000

Median Sales Price $683,250 $516,000

$625,000

$600,000

$562,000 21 14

11

Apr-21

15

19

6 May-21

Jun-21

17

16

Apr-22

18

9

May-22

13

9

Jun-22


BEVERLY HILLS

WE ARE THE COAST BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050

PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222

EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425

REDONDO BEACH 1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747

PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999

MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225

TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889

MANHATTAN BEACH/DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700

WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570

MARINA DEL REY/VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300

WESTCHESTER/SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000

WEST LOS ANGELES

MARINA DEL REY/VENICE WESTCHESTER/SILICON BEACH

EL SEGUNDO

MANHATTAN BEACH MANHATTAN BEACH/DOWNTOWN REDONDO BEACH TORRANCE PALOS VERDES - MALAGA COVE PALOS VERDES - SILVER SPUR PALOS VERDES - MIRALESTE


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Market MarketIntelligence IntelligenceReport Report

Volume Volume88| |May July 2022 2022 Gerry Athas-Vazquez 310-413-4089

GerryAVRealtor.com

GerryAVrealtor@gmail.com DRE# 01742286