Jack McSweeney Market Intelligence Report South Bay

Page 1

SOUTH BAY

Market MarketIntelligence IntelligenceReport Report

Jack McSweeney REALTOR®

CDPE, SRES, e-PRO, PVS, SRS & ABR Member of the RE/MAX Hall of Fame Palos Verdes Peninsula Assoc. of Realtors 2013-2015, 2020 63 Malaga Cove Plaza, Palos Verdes Estates, CA 90274

Cell: 310 346-0391 email: Jack@McSweeney.com DRE #01027223

Active Listings: http://JackMcSweeney.com

Volume Volume 8 8 || January February 2022 2022


SOUTH BAY MARKETS Carson

4

El Segundo

6

Gardena

8

Hawthorne

10

Hermosa Beach

12

Hollywood Riviera

14

Lawndale

16

Lomita

18

Manhattan Beach

20

Redondo Beach

22

Torrance

24


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 previous month exceed current inventory.

The South Bay 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 or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.


CARSON Located just 13 miles south of downtown Los Angeles, Carson is the newest incorporated city in the South Bay region. Carson is home to California State University, Dominguez Hills. With more than 120 acres of green space dedicated to outdoor recreation and an expansive sports complex for soccer, tennis, and track and field, Carson offers plentiful opportunities to soak in the California sunshine. Bordered by West Rancho Dominguez, Compton, Rancho Domiguez, and Long Beach, Carson residents enjoy close proximity to South Bay beaches and industrial and tech hubs while offering a warm and inviting suburban lifestyle.

ATTRACTIONS •

Carson Park

Dignity Health Sports Park

International Printing Museum

RESTAURANTS •

Gnome Village

Rosario's Italian Restaurant

Darrow's New Orleans Grill

Go Kart World

Chinollo

Back Home in Lahaina

Anderson Park

Hiccups Tea House

Orleans & York Deli


MARKET SUMMARY

JANUARY 20 22 JANUARY

2022 JANUARY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

44

37

$726K

9

$484

84%

22

26

$601K

9

$440

118%

+100%

+42%

+21%

+0%

+10%

-29%

13-MONTH TRENDS $672,000 $601,000

49

47 26

27

Jan-21

Feb-21

22

$630,000

42

Mar-21

$650,000

50

$665,000

$705,000

60 41

Apr-21

47

49

May-21

Jun-21

46

$675,000

49

59

Jul-21

$672,000

$742,500

$715,000

$720,000

$720,500

$726,000

74

66

60 42

42

45

Aug-21

Sep-21

Oct-21

49

43

Nov-21

40

40

Dec-21

44

37

Jan-22


EL SEGUNDO If beachside living and small-town charms with a growing community of businesses sounds appealing, then look no further than El Segundo. This hidden beachside gem is quickly becoming an economic powerhouse. With the Los Angeles Airport (LAX) right next door and easy connections to major freeways and metro stops, local and global travel is a breeze. Recognized as the aerospace capital in the world, this community is home to leaders in aerospace and defense, bioscience, information technology, energy, and creative media. El Segundo also offers thriving cultural experiences in sports, culture, fine dining and more.

ATTRACTIONS

RESTAURANTS •

Dockweiler Beach

R6 Distillery

Old Town Music Hall

Automobile Driving Museum •

The Lakes at El Segundo

El Segundo Parks & Rec

Jame Enoteca

Britt's BBQ

Ali'i Fish Company

Ensenada's Surf & Turf

Caló Kitchen + Tequila

Salt Creek Grille


MARKET SUMMARY

JANUARY 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

9

9

$1.17M

29

$691

100%

10

12

$1.52M

28

$784

120%

-10%

-25%

-23%

+4%

-12%

-17%

JANUARY

2022 JANUARY

2021 PERCENT CHANGE

13-MONTH TRENDS $1,733,222 $1,517,500

$1,518,750

$1,437,500

$1,700,000

$1,575,000

$1,545,500

$1,505,000

$1,365,000 $1,214,500

$1,200,000

$1,170,000 $925,000

10

12

Jan-21

19

9

Feb-21

16

14

Mar-21

23

13

Apr-21

21

14

May-21

21

17

Jun-21

22

16

Jul-21

22

25 13

16

Aug-21

Sep-21

21 7

Oct-21

14

20

Nov-21

14

9

Dec-21

9

9

Jan-22


GARDENA Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes to downtown Los Angeles and 20 minutes to Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without it's own activities, Gardena has several parks, several enticing restaurants, two card rooms, and more. Between the city and Torrance to the south, there are many opportunities for employment in industrial industries. Gardena also boasts easy freeway access to the 110, 105, and 405, residents are able to travel explore all that Los Angeles has to offer.

ATTRACTIONS

RESTAURANTS

Rowley Memorial Park

Arthur Lee Johnson Park

Spoon House Bakery

Jin Jja Roo

Thornburg Park

Gardena Bowl

Kotohira Restaurant

Fukagawa

Mas Fukai Park

Alondra Golf Course

O' Young's Rock Pot

Grand Fish Tacos & Ceviche


MARKET SUMMARY

JANUARY 20 22 JANUARY

2022 JANUARY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

33

30

$765K

10

$497

91%

19

36

$635K

9

$435

189%

+74%

-17%

+20%

+11%

+14%

-52%

13-MONTH TRENDS $635,000

$627,400

$680,000

$650,000

$706,500

$724,000 $650,000

$684,500

$690,000

$715,000

$708,000

46

49

$725,000

$765,000

66 36 19

Jan-21

45 28

Feb-21

43

39

53 40

38

25

Mar-21

Apr-21

May-21

48 35

Jun-21

43

49

39

36

39

Jul-21

Aug-21

Sep-21

46

45 30

Oct-21

Nov-21

30

Dec-21

33

30

Jan-22


HAWTHORNE Founded in 1905 and incorporated in 1922, Hawthorne is pleasantly nestled in the South Bay with easy access to work, travel, and play. Surrounded by the 405, 110, and 105 freeways, residents have easy access to all that Greater Los Angeles has to offer. Hawthorne boasts several top companies including SpaceX, Tesla, The Boring Company, Northrop Corporation, OSI Systems, and Century Media Records. For those looking for a family-oriented neighborhood in a thriving community, Hawthorne is a great place to call home.

ATTRACTIONS

RESTAURANTS

Eucalyptus Skate Park

Hawthorne Memorial Park

Bossa Nova

India's Tandoori Halal

Jim Thorpe Park

Zacatecas

Common Space Brewery

Star Helicopters

Hawthorne Municipal Airport

Hummus House

Los Angeles Ale Works


MARKET SUMMARY

JANUARY 20 22 JANUARY

2022 JANUARY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

28

14

$875K

12

$693

50%

15

18

$725K

7

$554

120%

+87%

-22%

+21%

+71%

+25%

-58%

13-MONTH TRENDS $840,000 $725,000

$835,000

$870,000

31

18

15

Jan-21

Feb-21

33

38

39

37

$900,000

$880,000 $799,000

$740,000

32 15

$831,000

42

41

58

50 29

27

31

$790,000

$810,000

47

47

37

43

$822,500

40

32

26

31

$875,000

28 14

Mar-21

Apr-21

May-21

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

Nov-21

Dec-21

Jan-22


HERMOSA BEACH Hermosa Beach, home of the casual surfer lifestyle, twenty parks, and 1.8 miles of Pacific Ocean perfection. Nestled between Redondo Beach and Manhattan Beach, residents in Hermosa Beach can often be found enjoying favorite coastal pastimes, walking along the pier, playing outdoor sports such as tennis and baseball, enjoying fresh produce at the farmer's market or trying new fare at one of the many restaurants. Area real estate is almost exclusively single-family homes, often designed with floor-to-ceiling windows to take advantage of the views. For those seeking coastal breezes, laid back atmosphere, and a nice distance from the city hustle, Hermosa Beach is the place.

ATTRACTIONS

RESTAURANTS

Hermosa Beach and Pier

The Farmer's Market

Zane's Steakhouse

Fritto Misto

The Strand

South Park

Palmilla Cocina y Tequila

Dia de Campo

The Comedy Club

Noble Park

Gum Tree

Chef Melba's Bistro


MARKET SUMMARY

JANUARY 20 22 JANUARY

2022 JANUARY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

20

13

$2.80M

9

$1,206

65%

38

14

$1.89M

13

$1,075

37%

-47%

-7%

+49%

-31%

+12%

+76%

13-MONTH TRENDS $2,800,000 $2,400,000

$2,487,500

$2,350,000 $2,082,500

$1,885,000

$2,082,500 $1,850,000

58

53 38 14

17

Jan-21

Feb-21

28

Mar-21

51

50

43 29

Apr-21

21

May-21

$2,047,500

48

$2,222,222 $2,000,005

44

32

45

Jun-21

Jul-21

40

33

20

Aug-21

$2,105,000

$2,000,000

31

19

18

19

Sep-21

Oct-21

Nov-21

23

22

Dec-21

20

13

Jan-22


HOLLYWOOD RIVIERA Hollywood Riviera, coined by developer Clifford Reid in 1927, got its name from bearing a resemblance to the French Riviera and on the dream of utilizing the area's natural setting for Hollywood's silver screens. The area is bordered by Palos Verdes Estates to the south and Redondo Beach and Torrance to the north. Outdoor amenities include the famous Riviera Village, a pedestrian friendly district for galleries, shopping, dining, a weekly Farmer's Market, and more as well as Torrance Beach, Rat Beach, and several parks. Commuters have direct access to Highway 1 and State Routes 107 and 213.

ATTRACTIONS

RESTAURANTS

Torrance Beach

Riviera Village

Bettolino Kitchen

Gabi James

Rat Beach

El Retiro Park

Riviera House

The Hook & Plow

Miramar Park

Los Arboles Rocketship Park •

Little Sister

TNT Aloha Cafe


MARKET SUMMARY

JANUARY 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

5

1

$1.15M

11

$827

20%

21

11

$1.39M

8

$845

52%

-76%

-91%

-17%

+38%

-2%

-62%

JANUARY

2022 JANUARY

2021 PERCENT CHANGE

13-MONTH TRENDS

$1,388,500

$1,549,000

$1,675,000 $1,420,000

$1,855,250

$1,701,500

$1,980,000 $1,775,000

$1,625,000

$1,587,500

$1,425,000

$1,402,500

$1,147,500

22

21 11

Jan-21

22 15 7

Feb-21

Mar-21

25

20

19 10

Apr-21

15

May-21

16

Jun-21

16

14

Jul-21

17 10

Aug-21

14

13

Sep-21

14

17

Oct-21

12

10

4

2

Nov-21

Dec-21

5

1

Jan-22


LAWNDALE Lawndale, California - a beautiful city and community located south of Hawthorne and west of Gardena. The city's close proximity to the beach allows residents to enjoy the marine layer almost identical to that of Manhattan Beach and El Segundo, while in quieter location away from the beach popularity. The city is split diagonally by the 405 freeway, affording convenient access points for commuters. Recreation activities include a golf course and neighboring park that hosts year round family-friendly activities. Local employment opportunities are available in aerospace, oil, and professional services, as well as commuting across the greater metro area.

ATTRACTIONS

RESTAURANTS

Alondra Park & Golf Course

Jane Addams Park

Ensenada's Surf N Turf Grill

El Amigo

Rudolph Park

Hawthorne Boulevard

Havana Mania

Saigon Dish

Roger Anderson Park

LA Rugby Club

Pacific Rim Thai Kitchen

Corner Burger


MARKET SUMMARY

JANUARY 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

12

6

$764K

24

$450

50%

6

13

$610K

15

$482

217%

+100%

-54%

+25%

+60%

-7%

-77%

JANUARY

2022 JANUARY

2021 PERCENT CHANGE

13-MONTH TRENDS $820,000

$765,000

$740,000

$701,750 $610,000

13 6

Jan-21

16

16

Feb-21

$691,500

$717,500

23

20

17

14

10

12

Mar-21

Apr-21

14

18

22

20 11

9

Aug-21

Sep-21

5

May-21

Jun-21

Jul-21

19

18

Oct-21

$763,500

$757,500 $659,000

$625,000

$594,500

8

$710,000

17

12

Nov-21

10

15

Dec-21

12 6

Jan-22


LOMITA From a simple ranch house to a sleepy narrow gauge electric railroad stop and a handful of roads named after trees and fruits, Lomita has grown into a small city that, in spite of its growth, has maintained its rustic, small-town flavor. The Lomita railroad museum still stands today as a testament to the city's history. Lomita might be one of the smallest cities in the area, and this fact is part of the area charm. As with Neighboring cities, residents have access to an eclectic blend of restaurants, recreation opportunities, and major commuting freeways. Real estate offerings are a blend of single-family and attached homes that are perfect for families, professionals, and investors.

ATTRACTIONS

RESTAURANTS

Lomita Railroad Museum

Hathaway Park

King Poke

Harry's Oklahoma BBQ

Lomita Park

Veterans Park

Bites and Bashes Cafe

Pinky's Hot Box

Lomita Library

Planet Escape Room

The Nook Breakfast Spot

Lomita's Best


MARKET SUMMARY

JANUARY 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

18

14

$733K

10

$557

78%

8

12

$790K

23

$447

150%

+125%

+17%

-7%

-57%

+25%

-48%

JANUARY

2022 JANUARY

2021 PERCENT CHANGE

13-MONTH TRENDS $999,500 $789,950

$723,500

18

$770,500

22

12

14

Jan-21

Feb-21

8

$754,500

16

12

Mar-21

$850,000

$875,500

20

May-21

18

14

Jun-21

14

$876,000

$799,000

26 20

14

Apr-21

$839,625

$925,000

$777,000

27

25

$732,500

25

12

10

10

11

Jul-21

Aug-21

Sep-21

Oct-21

14

Nov-21

16

19

Dec-21

18

14

Jan-22


MANHATTAN BEACH Manhattan Beach is a South Bay hotspot for outdoor enthusiasts, families, and anyone who dreams of waking up to sunny beachside views every morning. The over two miles of coastline offer residents year round opportunities for relaxation, rejuvenation, and a plethora of opportunities for shopping and dining with a view. Head a few streets inland for parks, gardens, golfing and access Highway 1. Located just south of the Los Angeles airport and an hour to Downtown Los Angeles, residents enjoy convenient access to work and enjoying what the greater area has to offer.

ATTRACTIONS •

Roundhouse Aquarium

The Strand Bike Path

Manhattan Beach Art Center

RESTAURANTS •

Polliwog Park & Manhattan Beach Botanical Garden Bruce's Beach

The Strand House

The Arthur J

Jute Coastal Bar + Kitchen

Zinc

Simmzy's

Nick's Manhattan Beach


MARKET SUMMARY

JANUARY 20 22 JANUARY

2022 JANUARY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

35

17

$3.20M

11

$1,236

49%

55

18

$3.38M

28

$1,542

33%

-36%

-6%

-5%

-61%

-20%

+48%

13-MONTH TRENDS $3,382,500 $3,075,000

$3,129,375

$3,358,000 $2,765,000

108

55 18

Jan-21

120

106

27

Feb-21

Mar-21

48

Apr-21

$2,988,000

$3,187,500

84 52

May-21

57

Jun-21

45

Jul-21

$2,680,000

87

74 54

Aug-21

$3,200,000

$2,977,500

$2,787,500

104

98

42

$3,500,000

$3,350,000

73 42

Sep-21

62 41

Oct-21

44

Nov-21

37

35

Dec-21

35

17

Jan-22


REDONDO BEACH Located at the start of Los Angele's County's coastal edge, 20 miles south of downtown Los Angeles and seven miles south of Los Angeles International Airport, Redondo Beach is a premier beachfront destination. The city offers year round beach days, high end shopping and dining, pristine parks, and gorgeous waterfront properties. Local opportunities can be found in the northern industrial complex anchored by Northrop Grumman as well as in neighboring city, Torrance. Those looking for single-family and condos/ townhomes can find properties right along the water as well as a short walk or drive away from the water's edge.

ATTRACTIONS

RESTAURANTS

Seaside Lagoon

Hopkins Wilderness Park

Bluewater Grill

Pura Vita

South Bay Galleria

Veterans Park

Sea Level Restaurant

Maderos Cocina Mexicana

Redondo Beach Marina

RB Performing Arts Center

The Standing Room

Hudson House


MARKET SUMMARY

JANUARY 20 22 JANUARY

2022 JANUARY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

37

38

$1.34M

10

$734

103%

47

62

$1.24M

11

$639

132%

-21%

-39%

+8%

-9%

+15%

-22%

13-MONTH TRENDS $1,427,000 $1,380,000 $1,339,000

$1,333,500 $1,300,000

$1,241,000

62

Jan-21

$1,336,500 $1,300,000

$1,311,000 $1,249,000

$1,237,500

107 100

95 47

$1,366,000

$1,342,500

116

94

91

90

116

96

110

98

60

Feb-21

Mar-21

Apr-21

May-21

Jun-21

Jul-21

103

82

Aug-21

104

78

Sep-21

83

96 49

Oct-21

77

Nov-21

70 38

30

37

Dec-21

Jan-22


TORRANCE Torrance is the eight largest city in Los Angeles County, and as such, provides an abundance of lifestyle experiences. Choose to live by the beach, slightly further inland, or in a more suburban setting. Torrance has something for everyone — traditional and luxury, homes, condos, and townhomes. In Torrance, year round local events, Recreation parks, museums, shopping, and a plethora of authentic cuisine are all a short distance away. Torrance is also home to El Camino College and a robust collection of industries. Aviation enthusiasts can find home at Zamperini field, a municipal airport primarily for private aircraft and instruction.

ATTRACTIONS

RESTAURANTS

Torrance Beach

Columbia Park

The San Franciscan

Madre

Zamperini Field

Torrance Art Museum

King Hawaiian Bakery

Shrimp By You

Madronna Marsh Preserve

Charles Wilson Park

Silog

Din Tai Fung


MARKET SUMMARY

JANUARY 20 22 JANUARY

2022 JANUARY

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

76

75

$915K

10

$620

99%

55

78

$818K

18

$568

142%

+38%

-4%

+12%

-44%

+9%

-30%

13-MONTH TRENDS $970,000

$950,000 $910,000

$895,000 $870,500 $817,500

55

78

Jan-21

$915,000

$865,000 $830,000

110

131

74

Feb-21

$900,000

$880,000

$829,300

105

$902,500

106

138

129 118

107

126

142 137

115 121

124

146 112 111

94

111

103 60

Mar-21

Apr-21

May-21

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

Nov-21

Dec-21

76

75

Jan-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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Jack McSweeney REALTOR®

CDPE, SRES, e-PRO, PVS, SRS & ABR Member of the RE/MAX Hall of Fame Palos Verdes Peninsula Assoc. of Realtors 2013-2015, 2020 63 Malaga Cove Plaza, Palos Verdes Estates, CA 90274

Cell: 310 346-0391 email: Jack@McSweeney.com DRE #01027223

Active Listings: http://JackMcSweeney.com