Maureen Megowan Market Intelligence Reports Palos Verdes

Vol 7 | January 2021

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 • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

310.541.6416 | mdmegowan@gmail.com www.maureenmegowan.com RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club • CLHMS-Luxury Home Specialist • PV & Seniors Specialist • DRE #01368971.

Palos Verdes Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout Palos Verdes

Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7

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 January 2021 are based on data available at the end of December 2020. 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 DECEMBER STATS Key Facts:

$1,773,000

Median Sold Price

$2,382,000

Average Sold Price

27

DECEMBER DECEMBER %

`

2019

2020

Change

Median Price (in $1,000)

$1,633

$1,773

9%

Average Price Per Sq. Foot

$668

$794

19%

Properties for Sale

47

27 -43%

Properties Pending Sales

6

19 217%

Properties Sold

17

21 24%

Days on Market (Sold Homes)

73

35 -52%

Monthly Supply of Inventory

2.8

1.3 -54%

Absorption Rate (Closed Sales) 36.2 77.8 115%

Listings for Sale

19

Listings Pending

21

Listings Sold

35

Days On Market

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

$2,382

$2,500 $2,500

$2,593

$2,000 $2,000

$1,773 $1,655

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

Median

Average

Rancho Palos Verdes DECEMBER STATS Key Facts:

$1,385,000 Median Sold Price

$1,389,000

Average Sold Price

53

2019

2020

Change

Median Price (in $1,000)

$1,115

$1,385

24%

Average Price Per Sq. Foot

$550

$639

16%

Properties for Sale

73

53 -27%

Properties Pending Sales

26

28 8%

Properties Sold

39

58 49%

Days on Market (Sold Homes)

56

23 -59%

Monthly Supply of Inventory

1.9

0.9 -53%

Absorption Rate (Closed Sales) 53.4

109.4 105%

Listings for Sale

28

Listings Pending

DECEMBER DECEMBER %

AVERAGE & MEDIAN PRICE $2,000 $3,500 $1,800

$1,389

$3,000 $1,600

58

Listings Sold

$1,385 $2,593

$1,400 $2,500 $1,200 $2,000 $1,000

23

Days On Market

$1,655

$800 $1,500 $600 $1,000 $400 $500 $200 $$-

Median

Average

Rolling Hills DECEMBER STATS Key Facts:

DECEMBER DECEMBER %

`

2019 Median Price (in $1,000)

$2,750,000

Median Sold Price

$3,833,000

Average Sold Price

11

Average Price Per Sq. Foot

Listings Pending

Change

$2,688

$2,750

2%

$871

$944

8%

Properties for Sale

16

11 -31%

Properties Pending Sales

2

7 250%

Properties Sold

2

3 50%

Days on Market (Sold Homes)

67

11 -84%

Monthly Supply of Inventory

8

3.7 -54%

Absorption Rate (Closed Sales) 12.5

Listings for Sale

7

2020

AVERAGE & MEDIAN PRICE $7,000 $3,500 $6,000 $3,000

3

Listings Sold

$3,833

$5,000

$2,593

$2,500 $4,000 $2,000

$2,750 $1,655

$3,000

11

Days On Market

27.3 118%

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

Median

Average

Rolling Hills Estates DECEMBER STATS Key Facts:

$1,415,000 Median Sold Price

$1,572,000

Average Sold Price

22

2019

2020

Change

Median Price (in $1,000)

$1,158

$1,415

22%

Average Price Per Sq. Foot

$607

$640

5%

Properties for Sale

39

22 -44%

Properties Pending Sales

13

19 46%

Properties Sold

24

39 63%

Days on Market (Sold Homes)

53

34 -36%

Monthly Supply of Inventory

1.6

0.6 -63%

Absorption Rate (Closed Sales) 61.5

177.3 188%

Listings for Sale

19

Listings Pending

DECEMBER DECEMBER %

AVERAGE & MEDIAN PRICE $2,000 $3,500 $1,800

$1,572

$3,000 $1,600

39

Listings Sold

$1,415 $2,593

$1,400 $2,500 $1,200 $2,000 $1,000

34

Days On Market

$1,655

$800 $1,500 $600 $1,000 $400 $200 $500 $$-

Median

Average

WE A R E T HE COA ST RE/MAX Estate Properties 600+ Local Agents • 12 Offices Luxury Residential • International Commercial Division BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050 EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425 PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266 310.376.2225

PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999

MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700

TORRANCE 23740 Hawthorne Blvd.

Torrance, CA 90505 310.378.9889

MARINA DEL REY / VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292 310.577.5300

WEST LOS ANGELES 10500 W. Pico Blvd.

Los Angeles, CA 90064 310.559.5570

PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222

WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000

FIND OUT WHAT YOUR HOME IS WORTH

CALL Maureen at 310.541.6416 RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club CLHMS-Luxury Home Specialist • PV & Seniors Specialist