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South Bay Market Intelligence Report Vol. 5 | March 2019 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors El Segundo

Lomita

Gardena

Manhattan Beach

Hawthorne

North Redondo

Hermosa Beach

South Redondo

Lawndale

Torrance

RE/MAX Estate Properties 650+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International

Jack McSweeney

Realtor®

Cell: 310 346-0391 email: Jack@McSweeney.com CDPE, SRES, e-PRO, PVS Member of the RE/MAX Hall of Fame Palos Verdes Association of Realtors Board Member 2013-2015 63 Malaga Cove Plaza, Palos Verdes Estates, CA 90274

DRE #01027223

Active Listings: http://JackMcSweeney.com


South Bay Market Intelligence Report Vol. 5 | March 2019 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors El Segundo

Lomita

Gardena

Manhattan Beach

Hawthorne

North Redondo

Hermosa Beach

South Redondo

Lawndale

Torrance

RE/MAX Estate Properties 650+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International

Jack McSweeney

Realtor®

Cell: 310 346-0391 email: Jack@McSweeney.com CDPE, SRES, e-PRO, PVS Member of the RE/MAX Hall of Fame Palos Verdes Association of Realtors Board Member 2013-2015 63 Malaga Cove Plaza, Palos Verdes Estates, CA 90274

DRE #01027223

Active Listings: http://JackMcSweeney.com


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.

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.

Average Price Per Square Foot:

Found by taking the price of each property and dividing that by its Properties Pending sale: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.

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.

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 Mar. 2019 are based on data available at the end of Feb. 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.


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12


El Segundo FEBRUARY Stats Key Facts:

$850,000

Median Sold Price

$975,000

Average Sold Price

27

FEB. FEB. % 2018 2019 Change

Median Price (in $,000)

$1,293

$850

-34%

$617

$653

6%

Average Price Per Sq. Foot Properties for Sale

12

27 125%

Properties Pending Sales

14

18 29%

Properties Sold

8

7 -13%

Days on Market (Sold Homes)

34

57 68%

Monthly Supply of Inventory

1.5

3.9 160%

Absorption Rate (closed sales) 66.7 25.9 -61%

Listings for Sale

18

Listings Pending

Average & Median Price $3,500

$1,800

$1,600 $3,000

7

Listings Sold

$2,593

$1,400

$2,500

$1,200 $975

$2,000

$1,000

57

Days On Market

$850

$1,655

$800 $1,500 $600

$1,000 $400

$500 $200 $-

$-

Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Gardena FEBRUARY Stats Key Facts:

$585,000

Median Sold Price

$585,000

Average Sold Price

56

FEB. 2018

Listings Pending

% Change

Median Price (in $,000)

$530

$585

10%

Average Price Per Sq. Foot

$364

$387

6%

Properties for Sale

34

56 65%

Properties Pending Sales

28

27 -4%

Properties Sold

23

28 22%

Days on Market (Sold Homes) 44

41 -7%

Monthly Supply of Inventory

1.5

2 33%

Absorption Rate (closed sales) 67.6

50 -26%

Listings for Sale

27

FEB. 2019

Average & Median Price $585

$3,500$600

$585

$3,000$580

28

$2,593

$560

$2,500

Listings Sold

$540

$2,000 $1,655

$520

41

Days On Market

$1,500

$500

$1,000$480 $500$460

$-

$440 Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Hawthorne FEBRUARY Stats Key Facts:

$740,000

Median Sold Price

$726,000

Average Sold Price

55

FEB. FEB. % 2018 2019 Change

Median Price (in $,000)

$595

$740

24%

Average Price Per Sq. Foot

$483

$446

-8%

Properties for Sale

24

55 129%

Properties Pending Sales

33

26 -21%

Properties Sold

25

13 -48%

Days on Market (Sold Homes)

31

28 -10%

Monthly Supply of Inventory

1

4.2 320%

Absorption Rate (closed sales) 104.2 23.6 -77%

Listings for Sale

26

Listings Pending

Average & Median Price $800 $3,500

$726

$740

$700

$3,000

13

Listings Sold

$2,593

$600

$2,500 $500

$2,000 $1,655

$400

28

Days On Market

$1,500

$300

$1,000

$200

$500 $100 $- $-

Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Hermosa Beach FEBRUARY Stats Key Facts:

$2,190,000 Median Sold Price

$3,037,000

Average Sold Price

51

FEB. 2018

FEB. 2019

% Change

Median Price (in $,000)

$1,473

$2,190

49%

Average Price Per Sq. Foot

$1,017

$1,112

9%

Properties for Sale

42

51 21%

Properties Pending Sales

12

12 0%

Properties Sold

16

6 -63%

Days on Market (Sold Homes) 51

96 88%

Monthly Supply of Inventory

2.6

8.5 227%

Absorption Rate (closed sales) 38.1

11.8 -69%

Listings for Sale

12

Listings Pending

Average & Median Price $3,500

$3,037

$3,500 $3,000

$3,000

6

Listings Sold

$2,500

$2,593

$2,500

$2,190

$2,000

$2,000 $1,655

$1,500

96

Days On Market

$1,500 $1,000

$1,000

$500

$500 $-$-

Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Lawndale FEBRUARY Stats Key Facts:

$525,000

Median Sold Price

$530,000

Average Sold Price

12

FEB. FEB. % 2018 2019 Change

Median Price (in $,000)

$530

$525

-1%

Average Price Per Sq. Foot

$403

$455

13%

Properties for Sale

10

12 20%

Properties Pending Sales

12

8 -33%

Properties Sold

13

9 -31%

Days on Market (Sold Homes)

46

64 -39%

Monthly Supply of Inventory

0.8

1.3 63%

Absorption Rate (closed sales) 130

75 -42%

Listings for Sale

8

Listings Pending

Average & Median Price $3,500

$700 $530

$3,000

$600

9

$525

$2,593

$2,500 $500

Listings Sold $2,000 $400 $1,655

64

Days On Market

$300 $1,500

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

$-

Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Lomita FEBRUARY Stats Key Facts:

$604,000 Median Sold Price

$637,000

Average Sold Price

19

FEB. 2018

FEB. 2019

Median Price (in $,000)

$640

$604

-6%

Average Price Per Sq. Foot

$404

$375

-7%

Properties for Sale

6

19 217%

Properties Pending Sales

9

11 22%

Properties Sold

15

10 -33%

Days on Market (Sold Homes) 41

49 20%

Monthly Supply of Inventory

0.4

1.9 375%

Absorption Rate (closed sales) 250

52.6 -79%

Listings for Sale

11

Listings Pending

Average & Median Price $3,500

$800

$3,000 $700

10

Listings Sold

% Change

$637 $604 $2,593

$600

$2,500

$500

$2,000 $1,655

$400

49

Days On Market

$1,500 $300

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

$-

Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Manhattan Beach FEBRUARY Stats Key Facts:

$1,820,000

Median Sold Price

$2,694,000

Average Sold Price

96

FEB. FEB. % 2018 2019 Change

Median Price (in $,000)

$2,250

$1,820

-19%

Average Price Per Sq. Foot

$1,002

$1,166

16%

Properties for Sale

78

96 23%

Properties Pending Sales

28

42 50%

Properties Sold

21

18 -14%

Days on Market (Sold Homes)

48

48 0%

Monthly Supply of Inventory

3.7

5.3 43%

Absorption Rate (closed sales) 26.9

18.8 -30%

Listings for Sale

42

Listings Pending

Average & Median Price $3,500 $4,000

$3,000 $3,500

18

Listings Sold

$2,593

$2,694

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

$2,000 $1,655

$2,000

48

Days On Market

$1,820

$1,500 $1,500

$1,000 $1,000

$500 $500 $$-

Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Redondo Beach FEBRUARY Stats Key Facts:

Median Price (in $,000)

$1,030,000 Median Sold Price

$1,147,000

Average Sold Price

100

Average Price Per Sq. Foot

Listings Pending

FEB. 2019

$1,088

$1,030

-5%

$610

$624

2%

63

100 59%

Properties Pending Sales

52

74 42%

Properties Sold

48

55 15%

Days on Market (Sold Homes) 25

41 64%

Monthly Supply of Inventory

1.3

1.8 38%

Absorption Rate (closed sales) 76.2

55 -28%

Average & Median Price $3,500 $1,400

$3,000

$1,147

$1,200

55

Listings Sold

% Change

Properties for Sale

Listings for Sale

74

FEB. 2018

$2,593

$1,030

$2,500

$1,000

$2,000

$800

41

Days On Market

$1,655

$1,500 $600 $1,000 $400 $200 $500 $-

$-

Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


Torrance FEBRUARY Stats Key Facts:

$778,000

Median Sold Price

$821,000

Average Sold Price

120

Median Price (in $,000)

$810

$778

-4%

Average Price Per Sq. Foot

$739

$522

29%

Properties for Sale

73

120 64%

Properties Pending Sales

73

63 -14%

Properties Sold

45

42 -7%

Days on Market (Sold Homes)

20

35 75%

Monthly Supply of Inventory

1.6

2.9 81%

Absorption Rate (closed sales) 61.6

Listings for Sale

63

Listings Pending

FEB. FEB. % 2018 2019 Change

35 -43%

Average & Median Price $3,500 $1,400 $3,000 $1,200

42

$2,593 $1,000 $2,500 $821

Listings Sold

$778

$800 $2,000

$1,655

35

Days On Market

$600 $1,500 $400 $1,000 $200 $500

$-

$Feb. Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019

Median

Average


RE/MAX Estate Properties • 650+ Local Agents • 16 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

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

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277

Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

EL SEGUNDO 402 Main Street El Segundo, CA 90245

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

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

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG ELES | SOUT H BAY| www.REMAXC IR.com

LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071

SOUTH BAY 23001 Hawthorne Blvd., Suite 205 Torrance, CA 90505


Notes:


Jack McSweeney

Realtor®

Cell: 310 346-0391 email: Jack@McSweeney.com CDPE, SRES, e-PRO, PVS Member of the RE/MAX Hall of Fame Palos Verdes Association of Realtors Board Member 2013-2015 63 Malaga Cove Plaza, Palos Verdes Estates, CA 90274

DRE #01027223

Active Listings: http://JackMcSweeney.com

Profile for RE/MAX Estate Properties

Jack McSweeney Market Intelligence Report South Bay  

Designed to give you the facts and trends overview of the most relevant market activities as they unfold in the South Bay real estate commun...

Jack McSweeney Market Intelligence Report South Bay  

Designed to give you the facts and trends overview of the most relevant market activities as they unfold in the South Bay real estate commun...