David Moyers Market Intelligence Report Palos Verdes

Vol. 5 | August 2019

Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities

RE/MAX Estate Properties 600+ Local Agents • 14 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

David G. Moyers

Executive Manager Broker Assoc. | GRI | CDPE | ePRO

Cell: 310-344-9050 Direct: 310-544-0400 E-mail: DGM.realestate@gmail.com DRE# 00452112

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

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 Aug. 2019 are based on data available at the end of July 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.

Palos Verdes Estates JULY STATS Key Facts:

$1,930,000

Median Sold Price

$2,466,000

Average Sold Price

100

July July % 2018 2019 Change

Median Price (in $,000)

$1,742

$1,930

11%

Average Price Per Sq. Foot

$708

$687

-3%

Properties for Sale

57

100 75%

Properties Pending Sales

11

20 82%

Properties Sold

24

27 13%

Days on Market (Sold Homes)

39

71 82%

Monthly Supply of Inventory

2.4

3.7 54%

Absorption Rate (closed sales) 42.1

27 -36%

Listings for Sale

20

Listings Pending

AVERAGE & MEDIAN PRICE $8,000 $3,500 $7,000

$3,000

27

Listings Sold

$2,593

$6,000

$2,500 $5,000

$2,000 $4,000

71

Days On Market

$1,655

$1,500

$2,466

$3,000

$1,930

$1,000

$2,000

$500 $1,000 $-$-

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

Median

Average

Rancho Palos Verdes JULY STATS Key Facts:

July 2018

July 2019

$1,229

$1,225

0%

Average Price Per Sq. Foot

$611

$603

-1%

Properties for Sale

131

150 15%

Properties Pending Sales

39

52 33%

Properties Sold

43

49 14%

Days on Market (Sold Homes) 24

42 75%

Monthly Supply of Inventory

3.1 3%

Median Price (in $,000)

$1,225,000 Median Sold Price

$1,362,000

Average Sold Price

150

Absorption Rate (closed sales) 32.8 32.7 0%

Listings for Sale

52

Listings Pending

3

AVERAGE & MEDIAN PRICE $1,800 $3,500 $1,600

$3,000

49

Listings Sold

% Change

$1,362

$1,400

$2,593 $1,225

$2,500

$1,200

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

42

Days On Market

$800

$1,500

$600

$1,000 $400

$500

$200

$- $-

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

Median

Average

Rolling Hills JULY STATS Key Facts:

$3,625,000

Median Sold Price

$3,625,000

Average Sold Price

19

Median Price (in $,000)

$-

$3,625

--

Average Price Per Sq. Foot

$-

$659

--

Properties for Sale

35

19 -46%

Properties Pending Sales

1

0 -100%

Properties Sold

0 1 --

Days on Market (Sold Homes)

0 117 --

Monthly Supply of Inventory

35

Absorption Rate (closed sales)

0 5.3 --

Listings for Sale

0

Listings Pending

July July % 2018 2019 Change

19 -46%

AVERAGE & MEDIAN PRICE $18,000

$3,500

$16,000

$3,000 $14,000

1

Listings Sold

$2,593 $2,500 $12,000 $10,000 $2,000

$1,655

$8,000

117

Days On Market

$1,500 $6,000

$3,625

$1,000

$3,625

$4,000

$2,000 $500

$-

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

Median

Average

Rolling Hills Estates JULY STATS Key Facts:

$1,189,000 Median Sold Price

$1,220,000

Average Sold Price

38

July 2018

Listings Pending

% Change

Median Price (in $,000)

$925

$1,189

29%

Average Price Per Sq. Foot

$588

$620

5%

Properties for Sale

25

38 52%

Properties Pending Sales

12

19 58%

Properties Sold

12

11 -8%

Days on Market (Sold Homes) 35

24 -31%

Monthly Supply of Inventory

3.5 67%

2.1

Absorption Rate (closed sales) 48

Listings for Sale

19

July 2019

28.9 -40%

AVERAGE & MEDIAN PRICE $2,500 $3,500

$3,000 $2,000

11

Listings Sold

$2,593

$2,500 $1,500

$2,000

24

Days On Market

$1,220

$1,189 $1,655

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

$500

$-

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

Median

Average

San Pedro JULY STATS Key Facts:

$557,000

Median Sold Price

$580,000

Average Sold Price

111

Median Price (in $,000)

$567

$557

-2%

Average Price Per Sq. Foot

$395

$449

14%

Properties for Sale

88

111 26%

Properties Pending Sales

59

56 -5%

Properties Sold

60

66 10%

Days on Market (Sold Homes)

28

30 7%

Monthly Supply of Inventory

1.5

1.7 13%

Absorption Rate (closed sales) 68.2 59.5 -13%

Listings for Sale

56

Listings Pending

July July % 2018 2019 Change

AVERAGE & MEDIAN PRICE $3,500 $700 $580

$3,000

$600

66

Listings Sold

$557

$2,593

$2,500

$500

$2,000

$400

30

Days On Market

$1,655

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

$-$-

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

Median

Average

Wilmington JULY STATS Key Facts:

$463,000 Median Sold Price

$454,000

Average Sold Price

17

July 2018

July 2019

Median Price (in $,000)

$425

$463

9%

Average Price Per Sq. Foot

$366

$384

5%

Properties for Sale

21

17 -19%

Properties Pending Sales

11

13 18%

Properties Sold

11

18 64%

Days on Market (Sold Homes) 45

24 -47%

Monthly Supply of Inventory

1.9

0.9 -53%

Absorption Rate (closed sales) 52.4

105.9 102%

Listings for Sale

13

Listings Pending

AVERAGE & MEDIAN PRICE $600 $3,500

$3,000 $500

18

Listings Sold

% Change

$454

$463

$2,593 $2,500

$400

$2,000 $1,655

$300

24

Days On Market

$1,500 $200

$1,000 $100

$500

$-$-

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

Median

Average

Harbor City JULY STATS Key Facts:

$540,000

Median Sold Price

$576,000

Average Sold Price

38

July July % 2018 2019 Change

Median Price (in $,000)

$460

$540

17%

Average Price Per Sq. Foot

$356

$342

-4%

Properties for Sale

21

38 81%

Properties Pending Sales

21

14 -33%

Properties Sold

13

17 31%

Days on Market (Sold Homes)

32

23 -28%

Monthly Supply of Inventory

1.6

2.2 38%

Absorption Rate (closed sales) 61.9

44.7 -28%

Listings for Sale

14

Listings Pending

AVERAGE & MEDIAN PRICE $700

$576

$3,500 $600

$3,000

17

Listings Sold

$540

$2,593

$500

$2,500

$400

$2,000

$1,655 $300

23

Days On Market

$1,500

$200

$1,000

$100

$500

$-

$-

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

Median

Average

RE/MAX Estate Properties • 600+ Local Agents • 14 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

David G. Moyers

Executive Manager Broker Assoc. | GRI | CDPE | ePRO

Cell: 310-344-9050 Direct: 310-544-0400 E-mail: DGM.realestate@gmail.com DRE# 00452112