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Vol 6 | June 2020

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 • 13 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 June 2020 are based on data available at the end of May 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 MAY STATS Key Facts:

$2,500,000

Median Sold Price

$2,500,000

Average Sold Price

55

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$1,988

$2,500

26%

Average Price Per Sq. Foot

$802

$545

-32%

Properties for Sale

89

55 -38%

Properties Pending Sales

20

15 -25%

Properties Sold

14

1 -93%

Days on Market (Sold Homes)

48

62 29%

Monthly Supply of Inventory

6.4

55 759%

Absorption Rate (Closed Sales) 15.7

1.8 -89%

Listings for Sale

15

Listings Pending

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

$2,500 $2,500

$2,500 $3,000

1

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

Listings Sold $2,000 $1,500

62

Days On Market

$1,655

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

Median

Average


Rancho Palos Verdes MAY STATS Key Facts:

$1,302,000 Median Sold Price

$1,492,000

Average Sold Price

78

MAY 2019

MAY 2020

Median Price (in $1,000)

$1,478

$1,302

-12%

Average Price Per Sq. Foot

$590

$567

-4%

Properties for Sale

128

78 -39%

Properties Pending Sales

55

43 -22%

Properties Sold

50

26 -48%

Days on Market (Sold Homes)

42

71 69%

Monthly Supply of Inventory

2.6

3 15%

Absorption Rate (Closed Sales) 39.1

Listings for Sale

43

Listings Pending

Listings Sold

71

Days On Market

33.3 -15%

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

$1,492

$1,600 $3,000 $1,400

26

% Change

$1,302 $2,593

$2,500 $1,200 $1,000 $2,000 $1,655

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

Median

Average


Rolling Hills MAY STATS Key Facts:

$3,395,000

Median Sold Price

$3,395,000

Average Sold Price

10

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$3,800

$3,395

-11%

$1,101

$1,087

-1%

Average Price Per Sq. Foot Properties for Sale

17

10 -41%

Properties Pending Sales

2

1 -50%

Properties Sold

1

1 0%

Days on Market (Sold Homes)

317

37 -88%

Monthly Supply of Inventory

17

10 -41%

Absorption Rate (Closed Sales) 5.9

Listings for Sale

1

Listings Pending

10 69%

AVERAGE & MEDIAN PRICE $4,500

$3,395

$3,500 $4,000

$3,395

$3,000 $3,500

1

Listings Sold

$2,593

$3,000 $2,500 $2,500 $2,000

$1,655

$2,000

37

Days On Market

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

Median

Average


Rolling Hills Estates MAY STATS Key Facts:

$1,400,000 Median Sold Price

$1,556,000

Average Sold Price

62

MAY 2019

MAY 2020

Median Price (in $1,000)

$1,360

$1,400

3%

Average Price Per Sq. Foot

$584

$614

5%

Properties for Sale

65

62 -5%

Properties Pending Sales

34

17 -50%

Properties Sold

28

13 -54%

Days on Market (Sold Homes)

19

15 -21%

Monthly Supply of Inventory

2.3

4.8 109%

Absorption Rate (Closed Sales) 43.1

Listings for Sale

17

Listings Pending

Listings Sold

$1,800 $3,500

$1,556

$1,600 $1,400 $2,593 $2,500 $1,200 $1,000 $2,000 $1,655

$800

15

Days On Market

21 -51%

AVERAGE & MEDIAN PRICE

$3,000 $1,400

13

% Change

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

Median

Average


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

Profile for RE/MAX Estate Properties

Maureen Megowan Market Intelligence Reports Palos Verdes  

Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities.

Maureen Megowan Market Intelligence Reports Palos Verdes  

Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities.