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Vol. III Oct 2017

The SouthBay Market Intelligence Report

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 report covers Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo, Torrance, Hawthorne, Gardena, Lawndale and Lomita.

John Briscoe REALTORÂŽ | Manager | CA BRE# 00692202

310.918.3030

JohnBriscoeHomes@gmail.com JohnBriscoeHomes.com


700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Phone: 310.577.5300 EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700 HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200

SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999 Silicon BEACH WESTCHESTER 7131 W. Manchester Ave. Los Angeles, CA 90045 Phone: 310.802.6000

Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. This Market Intelligence Report monitors

El Segundo

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.

Gardena Hawthorne

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.

Hermosa Beach Lawndale Lomita Manhattan Beach

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.

Redondo Beach

Absorption rate (closed sales):

Torrance

Report Notes:

This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.

Reports published in October 2017 are based on data available at the end of September 2017. 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.

Photography courtesy of Brian Holm, AvenueEye.com


El Segundo September Stats

$1,200,000

Median Sold Price

Year Over Year

Sept. Sept. 2016 2017

Median Price

$1,057

$1,200

14%

$499

$686

37%

Average Price Per Sq. Foot

$1,127,000 Average Sold Price

22 Listings for Sale

% Change

Properties for Sale

26

22 -15%

Properties Pending Sales

13

14 8%

Properties Sold

10

9 -10%

Days on Market (Sold Homes)

53

39 -26%

Monthly Supply of Inventory

2.6

2.4 -8%

Absorption Rate (closed sales)

38.5 40.9 6%

Avg. & Median Price by Month

14 Listings Pending

9 Listings Sold

39 Days On Market

$1,400 $3,500

$1,200 $1,127

$1,200 $3,000

$2,593

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

$1,655

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

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average


Gardena September Stats Year Over Year

Sept. Sept. 2016 2017

% Change

Median Price

$457

$460

1%

Average Price Per Sq. Foot

$347

$343

-1%

Properties for Sale

64

63 -2%

Properties Pending Sales

65

56 -14%

Properties Sold

46

41 -11%

Days on Market (Sold Homes)

35

27 -23%

Monthly Supply of Inventory

1.4

1.5 7%

Absorption Rate (closed sales)

71.9

65.1 -9%

$460,000

Median Sold Price

$446,000

Average Sold Price

63 Listings for Sale

Avg. & Median Price by Month $600 $3,500

56

$446

$500 $3,000

$460 $2,593

Listings Pending

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

$1,655

$1,500

Listings Sold

$200 $1,000

$100 $500 $- $-

41

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average

27 Days On Market


Hawthorne September Stats

$620,000

Median Sold Price

$642,000 Average Sold Price

35 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$565

$620

10%

Average Price Per Sq. Foot

$381

$422

11%

Properties for Sale

53

35 -34%

Properties Pending Sales

29

44 52%

Properties Sold

37

45 22%

Days on Market (Sold Homes)

31

31 0%

Monthly Supply of Inventory

1.4

0.8 -43%

Absorption Rate (closed sales)

69.8 128.6 84%

$800

44

Sept. Sept. 2016 2017

Avg. & Median Price by Month

$3,500

$642

$700

$620

$3,000 $600

$2,593

$2,500 $500

45 Listings Sold

31 Days On Market

$2,000 $400

$1,655

$1,500$300 $1,000$200 $500$100

$-

$Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average


Hermosa Beach September Stats Year Over Year

Sept. Sept. 2016 2017

Median Price Average Price Per Sq. Foot

% Change

$1,700

$2,400

41%

$821

$1,383

68%

Properties for Sale

51

50 -2%

Properties Pending Sales

12

15 25%

Properties Sold

21

9 -57%

Days on Market (Sold Homes)

49

44 -10%

Monthly Supply of Inventory

2.4

5.6 133%

Absorption Rate (closed sales) 41.2 $3,500

18 -56%

$2,400,000 Median Sold Price

$3,052,000 Average Sold Price

50 Listings for Sale

Avg. & Median Price by Month

$3,052

15

$3,000 $3,500

$3,000 $2,500

$2,400 $2,593

Listings Pending

$2,500 $2,000 $2,000 $1,655

$1,500 $1,500

Listings Sold

$1,000 $1,000

$500 $500 $- $-

9

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average

44 Days On Market


Lawndale September Stats

$480,000

Median Sold Price

$494,000

Average Sold Price

24 Listings for Sale

Year Over Year

Sept. Sept. 2016 2017

% Change

Median Price

$495

$480

-3%

Average Price Per Sq. Foot

$406

$394

-3%

Properties for Sale

17

24 41%

Properties Pending Sales

4

20 400%

Properties Sold

14

11 -21%

Days on Market (Sold Homes)

30

38 27%

Monthly Supply of Inventory

1.2

2.2 83%

Absorption Rate (closed sales)

82.4

45.8 -44%

Avg. & Median Price by Month

20 Listings Pending

11 Listings Sold

38 Days On Market

$700 $3,500 $494

$600 $3,000

$480$2,593

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

$1,655

$300 $1,500 $200 $1,000 $100 $500 $- $-

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average


Lomita September Stats Year Over Year

Sept. Sept. 2016 2017

% Change

Median Price

$595

$627

5%

Average Price Per Sq. Foot

$317

$406

28%

Properties for Sale

20

14 -30%

Properties Pending Sales

8

11 38%

Properties Sold

13

10 -23%

Days on Market (Sold Homes)

88

25 -72%

Monthly Supply of Inventory

1.5

1.4 -7%

Absorption Rate (closed sales)

65

71.4 10%

$627,000

Median Sold Price

$605,000 Average Sold Price

14 Listings for Sale

Avg. & Median Price by Month $700 $3,500

$605

$627

$600 $3,000 $2,593

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

$1,655

$300 $1,500

Listings Pending

10 Listings Sold

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

11

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average

25 Days On Market


Manhattan Beach September Stats

$2,050,000

Median Sold Price

$2,938,000 Average Sold Price

123 Listings for Sale

Year Over Year

Sept. Sept. 2016 2017

Median Price

% Change

$2,200

$2,050

-7%

Average Price Per Sq. Foot

$868

$1,290

49%

Properties for Sale

104

123 18%

Properties Pending Sales

47

31 -34%

Properties Sold

38

33 -13%

Days on Market (Sold Homes)

61

43 -30%

Monthly Supply of Inventory

2.7

3.7 37%

Absorption Rate (closed sales)

36.5

26.8 -27%

Avg. & Median Price by Month

31 Listings Pending

$4,000 $3,500 $3,500 $3,000

$2,938

$3,000

$2,593

$2,500

$2,500

33 Listings Sold

43 Days On Market

$2,050

$2,000 $2,000

$1,655

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

$500 $500 $-$-

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017

Median

Average


Redondo Beach September Stats Year Over Year

Sept. Sept. 2016 2017

% Change

Median Price

$899

$1,070

19%

Average Price Per Sq. Foot

$513

$571

11%

Properties for Sale

122

110 -10%

Properties Pending Sales

64

53 -17%

Properties Sold

63

85 35%

Days on Market (Sold Homes)

34

25 -26%

Monthly Supply of Inventory

1.9

1.3 -32%

Absorption Rate (closed sales)

51.6

77.3 50%

$1,070,000

Median Sold Price

$1,119,000 Average Sold Price

110 Listings for Sale

Avg. & Median Price by Month $3,500 $1,200

$1,119 $1,070

$3,000 $1,000 $2,593

53 Listings Pending

$2,500 $800 $2,000 $1,655

$600 $1,500

Listings Sold

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

85

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average

25 Days On Market


Torrance September Stats

$790,000

Median Sold Price

$874,000

Average Sold Price

104 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$749

$790

5%

Average Price Per Sq. Foot

$466

$511

10%

Properties for Sale

121

104 -14%

Properties Pending Sales

86

104 21%

Properties Sold

114 105 -8%

Days on Market (Sold Homes)

44

21 -52%

Monthly Supply of Inventory

1.1

1 -9%

Absorption Rate (closed sales)

94.2 101 7%

$1,000

104

Sept. Sept. 2016 2017

Avg. & Median Price by Month $874

$3,500 $900

$790

$3,000 $800

$2,593

$700 $2,500 $600

105 Listings Sold

$2,000 $500

$1,655

$400 $1,500 $300 $1,000 $200

21 Days On Market

$500 $100 $- $-

Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average


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© 2015-17 RE/MAX Estate Properties


John Briscoe REALTOR® | Manager | CA BRE# 00692202

310.918.3030

JohnBriscoeHomes@gmail.com JohnBriscoeHomes.com

John Briscoe Market Intelligence Report South Bay  

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