SOUTH BAY Market Intelligence Report Volume 8 | August 2022 Market Intelligence Report Volume 8 | August 2022 Suzy’s Monthly Market Report REALTOR® 310.210.1211 www.PVSuzy.com PVSuzy@gmail.com DRE# Suzy01221318Bryan 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
TorranceRedondoManhattanLomitaLawndaleHollywoodHermosaHawthorneGardenaElCarsonSegundoBeachRivieraBeachBeach 2010648121416182224
BAY MARKETS
SOUTH
PRICE PER SQUARE FOOT:
The total number of available properties for sale.
REAL ESTATE KEY TERMS
DAYS ON MARKET (CLOSED SALES):
The price of the property that falls in the middle of the total number of properties sold in the given time period.
MEDIAN PRICE:
Measures the home’s sales price for an individual square foot.
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 number of days a property is on the market prior to accepting an offer.
PROPERTIES FOR SALE:
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 are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.
SALES RATIO:
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• Rosario's Italian Restaurant • Chinollo • Hiccups Tea House • Darrow's New Orleans Grill • Back
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 Dominguez, 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. Carson Park Dignity Health Sports Park Printing Museum Gnome Village Kart World Anderson Park Home in Lahaina
ATTRACTIONS
CARSON
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RESTAURANTS
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• Go
• Orleans & York Deli
• International
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 86 32 $796K 13 $508 37% 2021JULY 49 59 $675K 8 $454 120% PERCENTCHANGE +76% -46% +18% +63% +12% -69% 49 66 74 60 49 40 44 58 53 59 70 84 86 59 42 42 45 43 40 37 28 52 48 37 33 32 $675,000 $672,000 $742,500 $715,000 $720,000 $720,500 $726,000 $705,000 $776,944 $737,500 $790,000 $830,000 $795,900 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
• Dockweiler Beach • Old Town Music Hall • The Lakes at El Segundo • R6 Distillery • Automobile Driving Museum • El Segundo Parks & Rec • Jame Enoteca • Ali'i Fish Company • Caló Kitchen + Tequila • Britt's BBQ • Ensenada's Surf & Turf • Salt Creek Grille ATTRACTIONS RESTAURANTS EL SEGUNDO
If beachside living and small-town charm with a growing community of businesses sound appealing, 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 of 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.
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 24 11 $1.30M 6 $737 46% 2021JULY 22 16 $1.58M 6 $772 73% PERCENTCHANGE +9% -31% -17% 0% -5% -37% 22 22 25 21 14 14 9 12 20 16 16 18 24 16 13 16 7 20 9 9 9 11 13 20 8 11 $1,575,000 $1,365,000 $1,545,500 $925,000 $1,700,000 $1,505,000 $1,170,000 $1,100,000 $1,890,000 $1,700,000 $1,530,000 $2,052,500 $1,300,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
RESTAURANTS GARDENA
ATTRACTIONS
• Rowley Memorial Park • Thornburg Park • Mas Fukai Park • Arthur Lee Johnson Park • Gardena Bowl • Alondra Golf Course • Spoon House Bakery • Kotohira Restaurant • O' Young's Rock Pot • Jin Jja Roo • Fukagawa • Grand Fish Tacos & Ceviche
Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes from downtown Los Angeles and 20 minutes from Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without its own activities, Gardena has several parks, 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, and explore all that Los Angeles has to offer.
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 65 29 $770K 10 $589 45% 2021JULY 43 39 $724K 7 $477 91% PERCENTCHANGE +51% -26% +6% +43% +23% -51% 43 66 49 46 49 30 33 28 47 50 44 58 65 39 36 39 46 45 30 30 28 37 38 31 40 29 $724,000 $684,500 $690,000 $715,000 $708,000 $725,000 $765,000 $767,500 $760,000 $825,000 $790,000 $752,500 $770,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
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.
• Eucalyptus Skate Park • Jim Thorpe Park • Star Helicopters • Hawthorne Memorial Park • Hawthorne Municipal Airport • Bossa Nova • Zacatecas • Hummus House • India's Tandoori Halal • Common Space Brewery • Los Angeles Ale Works ATTRACTIONS RESTAURANTS HAWTHORNE
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 52 24 $887K 9 $727 46% 2021JULY 50 29 $880K 9 $601 58% PERCENTCHANGE +4% -17% +1% 0% +21% -20% 50 58 47 47 40 26 28 25 23 36 45 57 52 29 31 37 43 32 31 14 24 31 27 25 23 24 $880,000 $799,000 $790,000 $810,000 $822,500 $900,000 $875,000 $803,000 $875,000 $980,000 $985,000 $938,500 $887,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
• Hermosa Beach and Pier • The Strand • The Comedy Club • The Farmer's Market • South Park • Noble Park • Zane's Steakhouse • Palmilla Cocina y Tequila • Gum Tree • Fritto Misto • Dia de Campo • Chef Melba's Bistro ATTRACTIONS RESTAURANTS HERMOSA
Hermosa Beach is home to 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. BEACH
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 44 13 $2.40M 8 $1,254 30% 2021JULY 48 20 $2.05M 13 $1,026 42% PERCENTCHANGE -8% -35% +17% -38% +22% -29% 48 44 45 40 31 23 20 35 28 34 29 44 44 20 33 19 18 19 22 13 7 19 19 19 20 13 $2,047,500 $2,222,222 $2,000,005 $2,105,000 $2,000,000 $2,487,500 $2,800,000 $2,200,000 $2,150,000 $1,985,000 $2,400,000 $2,067,500 $2,400,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
• Riviera
Park • Bettolino Kitchen • Riviera House • Little Sister • Gabi James • The Hook & Plow • TNT Aloha Cafe
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RESTAURANTS
ATTRACTIONS
HOLLYWOOD RIVIERA
• Los Arboles
• Miramar
• El Retiro
• Torrance
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. Beach Rat Beach Park Village Park Rocketship
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 20 9 $2.11M 9 $1,030 45% 2021JULY 16 14 $1.43M 13 $816 88% PERCENTCHANGE +25% -36% +48% -31% +26% -49% 16 17 14 14 4 2 5 8 19 16 21 23 20 14 10 13 17 12 10 1 4 10 12 9 10 9 $1,425,000 $1,855,250 $1,775,000 $1,625,000 $1,980,000 $1,587,500 $1,147,500 $1,897,500 $2,176,500 $1,915,000 $2,236,575 $1,939,000 $2,113,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
• Alondra Park & Golf Course • Rudolph Park • Roger Anderson Park • Jane Addams Park • Hawthorne Boulevard • LA Rugby Club • Ensenada's Surf N Turf Grill • Havana Mania • Pacific Rim Thai Kitchen • El Amigo • Saigon Dish • Corner Burger
Lawndale is 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 a quieter location away from the beach's 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.
RESTAURANTS
LAWNDALE
ATTRACTIONS
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 28 10 $896K 26 $508 36% 2021JULY 23 18 $692K 8 $549 78% PERCENTCHANGE +22% -44% +30% +225% -7% -54% 23 20 22 19 17 10 12 13 16 22 24 27 28 18 11 9 18 12 15 6 7 15 15 8 9 10 $691,500 $820,000 $710,000 $717,500 $757,500 $659,000 $763,500 $750,000 $777,000 $800,088 $755,000 $765,000 $896,300 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
• Lomita Railroad Museum • Lomita Park • Lomita Library • Hathaway Park • Veterans Park • Planet Escape Room • King Poke • Bites and Bashes Cafe • The Nook Breakfast Spot • Harry's Oklahoma BBQ • Pinky's Hot Box • Lomita's Best ATTRACTIONS RESTAURANTS 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's 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.
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 28 8 $730K 6 $578 29% 2021JULY 14 12 $876K 8 $484 86% PERCENTCHANGE +100% -33% -17% -25% +19% -67% 14 26 25 27 25 16 18 18 15 17 24 28 28 12 10 10 11 14 19 14 6 11 11 8 13 8 $875,500 $799,000 $999,500 $777,000 $876,000 $925,000 $732,500 $880,000 $871,500 $860,000 $886,000 $915,000 $729,500 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
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.
• Roundhouse Aquarium • The Strand Bike Path • Manhattan Beach Art Center • Polliwog Park & Manhattan Beach Botanical Garden • Bruce's Beach • The Strand House • Jute Coastal Bar + Kitchen • Simmzy's • The Arthur J • Zinc • Nick's Manhattan Beach ATTRACTIONS RESTAURANTS MANHATTAN BEACH
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 77 36 $3.78M 10 $1,443 47% 2021JULY 84 45 $3.35M 7 $1,209 54% PERCENTCHANGE -8% -20% +13% +43% +19% -13% 84 74 87 73 62 37 35 42 57 55 61 84 77 45 54 42 41 44 35 17 24 28 34 35 32 36 $3,350,000 $2,787,500 $3,187,500 $3,500,000 $2,977,500 $2,680,000 $3,200,000 $4,025,500 $2,927,500 $3,012,500 $2,625,000 $3,637,500 $3,775,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
Located at the start of Los Angeles 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 and in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water and a short walk or drive from the water's edge.
• Seaside Lagoon • South Bay Galleria • Redondo Beach Marina • Hopkins Wilderness Park • Veterans Park • RB Performing Arts Center • Bluewater Grill • Sea Level Restaurant • The Standing Room • Pura Vita • Maderos Cocina Mexicana • Hudson House ATTRACTIONS RESTAURANTS REDONDO BEACH
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 118 61 $1.52M 10 $846 52% 2021JULY 110 98 $1.30M 7 $692 89% PERCENTCHANGE +7% -38% +17% +43% +22% -42% 110 103 104 83 49 30 37 64 59 76 80 114 118 98 82 78 96 77 70 38 36 73 73 60 75 61 $1,300,000 $1,311,000 $1,380,000 $1,366,000 $1,249,000 $1,427,000 $1,336,500 $1,242,500 $1,550,000 $1,500,000 $1,551,500 $1,480,000 $1,523,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
ATTRACTIONS
RESTAURANTS
• Torrance Beach • Zamperini Field • Madronna Marsh Preserve • Columbia Park • Torrance Art Museum • Charles Wilson Park • The San Franciscan • King Hawaiian Bakery • Silog • Madre • Shrimp By You • Din Tai Fung
TORRANCE
Torrance is the eigth 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 feel at home at Zamperini field, a municipal airport primarily for private aircraft and instruction.
13-MONTH TRENDS MARKET SUMMARY JULY 2022 INVENTORYTOTAL SALESTOTAL SALESMEDIANPRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALESRATIO 2022JULY 170 109 $925K 9 $660 64% 2021JULY 142 137 $830K 8 $607 96% PERCENTCHANGE +20% -20% +11% +13% +9% -34% 142 115 124 112 94 60 76 86 116 114 144 181 170 137 121 146 111 103 111 75 72 106 126 107 110 109 $830,000 $910,000 $902,500 $970,000 $865,000 $900,000 $915,000 $910,250 $1,028,000 $981,500 $995,000 $1,015,000 $925,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
402 Main Street
PALOSREDONDOBEACH/DOWNTOWNBEACHTORRANCEVERDES-MALAGACOVEPALOSVERDES-
MANHATTAN BEACH/DOWNTOWN
REDONDO BEACH
1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 310.378.988990505
MARINA DEL REY/VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
PALOS VERDES - SILVER SPUR
10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050
BEVERLY HILLS
El Segundo, CA 90245 310.322.1425
7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
MIRALESTE
WEST LOS ANGELES
EL SEGUNDO
PALOS VERDES - SILVER SPUR
450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
WESTCHESTER/SILICON BEACH
5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747
PALOS VERDES - MALAGA COVE
WEST LOS WESTCHESTER/SILICONANGELES
1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
MANHATTAN BEACH
BEACH EL SEGUNDOMANHATTAN BEACH MANHATTAN
WE ARE THE COAST
PALOS VERDES - MIRALESTE
BEVERLY HILLS
MARINA DEL REY/VENICE
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720
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