Lynn Peters & Lesley Siegel July 2018 Market Report Palos Verdes

Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | July 2018 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 Palos Verdes Estates

Rolling Hills Estates

Palos Verdes Peninsula

San Pedro

Rancho Palos Verdes

Harbor City

Rolling Hills

Wilmington

RE/MAX Estate Properties 700+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International

Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071

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 July 2018 are based on data available at the end of June 2018. 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 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........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8 Wilmington.......................................................................9 Harbor City .....................................................................10

Palos Verdes Estates junE Stats Key Facts:

$2,218,000

Median Sold Price

$2,732,000

Average Sold Price

70

JUNE JUNE % 2017 2018 Change

Median Price

$2,350

$2,218

-6%

$793

$732

-8%

Average Price Per Sq. Foot

Properties for Sale

80

70 -13%

Properties Pending Sales

15

25 67%

Properties Sold

16

24 50%

Days on Market (Sold Homes)

39

54 38%

Monthly Supply of Inventory

5

2.9 -42%

20

34.3 72%

Absorption Rate (closed sales)

Listings for Sale

25

Listings Pending

Average & Median Price $2,732

$3,000

$3,500 $2,500

$3,000

24

$2,218

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

Listings Sold $2,000

$1,500

54

Days On Market

$1,655

$1,500 $1,000

$1,000 $500 $500

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Rancho Palos Verdes JUNE Stats Key Facts:

$1,300,000 Median Sold Price

$1,461,000

Average Sold Price

128

JUNE JUNE 2017 2018

Median Price

$1,240

$1,300

5%

Average Price Per Sq. Foot

$561

$574

2%

Properties for Sale

113

128 13%

Properties Pending Sales

57

51 -11%

Properties Sold

71

68 -4%

Days on Market (Sold Homes) 31

49 58%

Monthly Supply of Inventory

1.9 19%

Absorption Rate (closed sales) 62.8 53.1 -15%

Listings for Sale

51

Listings Pending

1.6

Average & Median Price $3,500 $1,600

$1,461

$1,400 $3,000

68

Listings Sold

% Change

$1,300

$2,593

$1,200

$2,500

$1,000

$2,000

$1,655

$800

49

Days On Market

$1,500 $600

$1,000 $400

$500 $200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Rolling Hills junE Stats Key Facts:

$2,461,000

Median Sold Price

$2,461,000

Average Sold Price

36

JUNE JUNE % 2017 2018 Change

Median Price

$2,438

$2,461

1%

$717

$582

-19%

Average Price Per Sq. Foot

Properties for Sale

27

36 33%

Properties Pending Sales

1

2 100%

Properties Sold

4

2 -50%

Days on Market (Sold Homes)

20

37 85%

Monthly Supply of Inventory

6.8

18 165%

Absorption Rate (closed sales) 14.8

5.6 -62%

Listings for Sale

2

Listings Pending

Average & Median Price $3,500

$4,500

$4,000 $3,000

2

Listings Sold

$2,593

$3,500

$2,500

$3,000

$2,461

$2,000

$2,461

$2,500

37

Days On Market

$1,655

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

$500 $500

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Rolling Hills Estates JUNE Stats Key Facts:

$1,045,000 Median Sold Price

$1,157,000

Average Sold Price

22

JUNE JUNE 2017 2018

Median Price

$1,189

$1,045

-12%

Average Price Per Sq. Foot

$549

$514

-6%

Properties for Sale

31

22 -29%

Properties Pending Sales

15

14 -7%

Properties Sold

15

10 -33%

Days on Market (Sold Homes) 24

26 8%

Monthly Supply of Inventory

2.2 5%

Listings Pending

2.1

Absorption Rate (closed sales) 48.4 45.5 -6%

Listings for Sale

14

% Change

Average & Median Price $1,800

$3,500

$1,600

$3,000

$1,400

10

Listings Sold

$1,157

$2,500 $1,200

$2,593 $1,045

$1,000 $2,000

$1,655 $800

26

Days On Market

$1,500

$600

$1,000 $400

$500 $200

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

San Pedro junE Stats Key Facts:

$595,000

Median Sold Price

$618,000

Average Sold Price

92

Median Price

$518

$595

15%

Average Price Per Sq. Foot

$368

$403

10%

Properties for Sale

106

92 -13%

Properties Pending Sales

71

61 -14%

Properties Sold

74

55 -26%

Days on Market (Sold Homes)

41

27 -34%

Monthly Supply of Inventory

1.4

1.7 21%

Absorption Rate (closed sales) 69.8 59.8 -14%

Listings for Sale

61

Listings Pending

JUNE JUNE % 2017 2018 Change

Average & Median Price $3,500 $700

$618

$3,000

$595

$600

55

Listings Sold

$2,593

$2,500 $500

$2,000 $400

27

Days On Market

$1,655

$1,500 $300

$1,000 $200

$500

$100

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Wilmington JUNE Stats Key Facts:

$443,000 Median Sold Price

$432,000

Average Sold Price

11

Listings Pending

% Change

Median Price

$433

$443

2%

Average Price Per Sq. Foot

$303

$383

26%

Properties for Sale

9

11 22%

Properties Pending Sales

10

8 -20%

Properties Sold

18

12 -33%

Days on Market (Sold Homes) 26

32 23%

Monthly Supply of Inventory

0.5

0.9 80%

Absorption Rate (closed sales) 200

109.1 -45%

Listings for Sale

8

JUNE JUNE 2017 2018

Average & Median Price $480 $3,500 $470

$3,000 $460

12

Listings Sold

$2,593

$2,500 $450

$443

$440

$432

$2,000

$1,655

$430

32

Days On Market

$1,500

$420

$1,000 $410 $400

$500

$390

$-

$380 June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

Harbor City junE Stats Key Facts:

$548,000

Median Sold Price

$538,000

Average Sold Price

24

Median Price

$471

$548

16%

Average Price Per Sq. Foot

$291

$356

22%

Properties for Sale

30

24 -20%

Properties Pending Sales

23

20 -13%

Properties Sold

16

16 0%

Days on Market (Sold Homes)

36

29 -19%

Monthly Supply of Inventory

1.9

1.5 -21%

Absorption Rate (closed sales) 53.3 66.7 25%

Listings for Sale

20

Listings Pending

JUNE JUNE % 2017 2018 Change

Average & Median Price $538

$600

$548

$3,500 $500

$3,000

16

$2,593 $400 $2,500

Listings Sold $2,000

$300

29

Days On Market

$1,655

$1,500 $200

$1,000 $100

$500

$-

$June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018

Median

Average

BUY | SELL | LEASE | INVEST

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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071