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Vol. 6 | September 2020

Teri Hawkins Selling a piece of paradise... from Manhattan Beach to Palos Verdes

Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities

Teri Hawkins, Luxury Home Specialist RE/MAX Estate Properties 310.251.3850 www.TeriHawkins.com


Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor Cities Palos Verdes Estates........................................................3 Rancho Palos Verdes........................................................4 Rolling Hills.......................................................................5 Rolling Hills Estates .........................................................6 San Pedro.........................................................................7 Wilmington.......................................................................8 Harbor City .......................................................................9


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 September 2020 are based on data available at the end of August 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 AUGUST STATS Key Facts:

$2,034,000

Median Sold Price

$2,209,000

Average Sold Price

45

Median Price (in $1,000)

$1,765

$2,034

15%

Average Price Per Sq. Foot

$767

$736

-4%

Properties for Sale

81

45 -44%

Properties Pending Sales

14

22 57%

Properties Sold

22

26 18%

Days on Market (Sold Homes)

67

59 -12%

Monthly Supply of Inventory

3.7

1.7 -54%

Absorption Rate (Closed Sales) 27.2

57.8 113%

Listings for Sale

22

Listings Pending

AUGUST AUGUST % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,500 $3,000

26

Listings Sold

$2,209 $2,034 $2,593

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

59

Days On Market

$1,655

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

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

Average


Rancho Palos Verdes AUGUST STATS Key Facts:

AUGUST 2019

Median Price (in $1,000)

$1,350,000 Median Sold Price

$1,400,000

Average Sold Price

66

$1,240

$1,350

9%

Average Price Per Sq. Foot

$541

$589

9%

Properties for Sale

150

66 -56%

Properties Pending Sales

51

53 4%

Properties Sold

50

49 -2%

Days on Market (Sold Homes)

32

38 19%

Monthly Supply of Inventory

3

1.3 -57%

Absorption Rate (Closed Sales) 33.3

Listings for Sale

53

Listings Pending

Listings Sold

$2,000 $3,500 $1,800

$1,400 $1,350 $2,593

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

$1,655

$1,000

38

Days On Market

74.2 123%

AVERAGE & MEDIAN PRICE

$3,000 $1,600

49

AUGUST % 2020 Change

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

Average


Rolling Hills AUGUST STATS Key Facts:

AUGUST AUGUST % 2019 2020 Change

Median Price (in $1,000)

$4,350,000

Median Sold Price

$3,722,000

Average Sold Price

17

Average Price Per Sq. Foot

Listings Pending

$4,350

10%

$655

$958

46%

Properties for Sale

19

17 -11%

Properties Pending Sales

1

3 200%

Properties Sold

2

3 50%

Days on Market (Sold Homes)

246

58 -76%

Monthly Supply of Inventory

9.5

5.7 -40%

Absorption Rate (Closed Sales) 10.5

17.6 68%

Listings for Sale

3

$3,968

AVERAGE & MEDIAN PRICE $5,000 $3,722

$3,500 $4,500

$4,350

$3,000 $4,000

3

Listings Sold

$2,593

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

58

Days On Market

$1,655

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

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

Average


Rolling Hills Estates AUGUST STATS Key Facts:

AUGUST 2019

Median Price (in $1,000)

$1,538,000 Median Sold Price

$1,773,000

Average Sold Price

50

Average Price Per Sq. Foot

Listings Pending

$1,250

$1,538

23%

$558

$648

16%

Properties for Sale

79

50 -37%

Properties Pending Sales

33

38 15%

Properties Sold

37

29 -22%

Days on Market (Sold Homes)

33

46 39%

Monthly Supply of Inventory

2.1

1.7 -19%

Absorption Rate (Closed Sales) 46.8 58 24%

Listings for Sale

38

AVERAGE & MEDIAN PRICE $2,000 $3,500

$1,773

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

29

Listings Sold

$1,538 $2,593

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

46

Days On Market

AUGUST % 2020 Change

$1,655

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

Average


San Pedro AUGUST STATS Key Facts:

$610,000

Median Sold Price

$651,000

Average Sold Price

64

Median Price (in $1,000)

$589

$610

4%

Average Price Per Sq. Foot

$428

$431

1%

Properties for Sale

89

64 -28%

Properties Pending Sales

48

55 15%

Properties Sold

57

65 14%

Days on Market (Sold Homes)

37

27 -27%

Monthly Supply of Inventory

1.6

1 -38%

Absorption Rate (Closed Sales) 64

Listings for Sale

55

Listings Pending

AUGUST AUGUST % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,500 $800 $651

$3,000 $700

65

Listings Sold

$610 $2,593

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

$1,655

$400

27

Days On Market

101.6 59%

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

Average


Wilmington AUGUST STATS Key Facts:

$513,000 Median Sold Price

$523,000

Average Sold Price

13

Listings Pending

AUGUST % 2020 Change

Median Price (in $1,000)

$445

$513

15%

Average Price Per Sq. Foot

$364

$421

16%

Properties for Sale

18

13 -28%

Properties Pending Sales

8

13 63%

Properties Sold

10

16 60%

Days on Market (Sold Homes)

48

27 -44%

Monthly Supply of Inventory

1.8

0.8 -56%

Absorption Rate (Closed Sales) 55.6 123.1 121%

Listings for Sale

13

AUGUST 2019

AVERAGE & MEDIAN PRICE $523

$600 $3,500

$513 $500 $3,000

16

Listings Sold

$2,593 $2,500 $400 $2,000 $300

27

Days On Market

$1,655

$1,500 $200 $1,000 $100 $500

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

Average


Harbor City AUGUST STATS Key Facts:

$625,000

Median Sold Price

$606,000

Average Sold Price

14

Median Price (in $1,000)

$555

$625

13%

Average Price Per Sq. Foot

$407

$406

0%

Properties for Sale

29

14 -52%

Properties Pending Sales

20

14 -30%

Properties Sold

11

15 36%

Days on Market (Sold Homes)

30

26 -13%

Monthly Supply of Inventory

2.6

0.9 -65%

Absorption Rate (Closed Sales) 37.9

107.1 183%

Listings for Sale

14

Listings Pending

AUGUST AUGUST % 2019 2020 Change

AVERAGE & MEDIAN PRICE $800 $3,500 $700

$606 $625

$3,000 $600

15

Listings Sold

$2,593 $2,500 $500 $2,000 $400

26

Days On Market

$1,655

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


Selling a piece of paradise... from Manhattan Beach to Palos Verdes

CONNECT WITH US o www.TeriHawkins.com f www.facebook.com/selling pradise i www.linkedin.com/in/TeriHawkins Teri Hawkins | 310.251.3850 www.terihawkins.com | Luxury Home Specialist

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Teri Hawkins Palos Verdes Market Intelligence Report  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Palos Verdes & Harbor real es...

Teri Hawkins Palos Verdes Market Intelligence Report  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Palos Verdes & Harbor real es...