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Vol 6 | June 2020

Market Intelligence Report South Bay Edition Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community

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.


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 San Pedro.............................................................12 Torrance................................................................13


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.


El Segundo MAY STATS Key Facts:

$1,133,000

Median Sold Price

$1,420,000

Average Sold Price

17

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$1,147

$1,133

-1%

Average Price Per Sq. Foot

$602

$723

20%

Properties for Sale

22

17 -23%

Properties Pending Sales

12

11 -8%

Properties Sold

25

6 -76%

Days on Market (Sold Homes)

62

19 -69%

Monthly Supply of Inventory

0.9

2.8 211%

Absorption Rate (Closed Sales) 113.6

35.3 -69%

Listings for Sale

AVERAGE & MEDIAN PRICE

$1,800

11

Listings Pending

$1,600

$3,500

$1,400

$3,000

6

Listings Sold

$2,593

$1,200

$2,500 $1,000

$2,000 $1,655

$800

19

Days On Market

$1,500 $600

$1,000 $400

$500

$200

$-

$May 2019

Jun Jul 2019 Aug 2019 2019

Sep 2019

Nov 2019

Median

Dec 2019

Jan 2020

Average

Feb 2020

Mar 2020

Apr 2020

May 2020


Gardena MAY STATS Key Facts:

$585,000

Median Sold Price

$570,000

Average Sold Price

32

Listings Pending

Listings Sold

10

Days On Market

% Change

$555

$585

5%

Average Price Per Sq. Foot

$411

$466

13%

Properties for Sale

62

32 -48%

Properties Pending Sales

38

24 -37%

Properties Sold

33

22 -33%

Days on Market (Sold Homes)

24

10 -58%

Monthly Supply of Inventory

1.9

1.5 -21%

Absorption Rate (Closed Sales) 53.2 68.8 29%

AVERAGE & MEDIAN PRICE $620 $3,500

$570

$600 $3,000

22

MAY 2020

Median Price (in $1,000)

Listings for Sale

24

MAY 2019

$585 $2,593

$580 $2,500 $560 $2,000

$1,655

$540 $1,500 $520 $1,000 $500 $500 $480 $-

Median

Average


Hawthorne MAY STATS Key Facts:

$694,000

Median Sold Price

$715,000

Average Sold Price

43

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$640

$694

8%

Average Price Per Sq. Foot

$487

$488

0%

Properties for Sale

53

43 -19%

Properties Pending Sales

39

31 -21%

Properties Sold

41

14 -66%

Days on Market (Sold Homes)

42

11 -74%

Monthly Supply of Inventory

1.3

3.1 138%

Absorption Rate (Closed Sales) 77.4

32.6 -58%

Listings for Sale

31

Listings Pending

AVERAGE & MEDIAN PRICE $3,500$900 $715

$800

$3,000

$694

$700

14

$2,593

$2,500$600

Listings Sold

$500

$2,000

$1,655

$400

11

Days On Market

$1,500

$300

$1,000$200 $100

$500 $-

$-

Median

Average


Hermosa Beach MAY STATS Key Facts:

$1,925,000 Median Sold Price

$2,608,000

Average Sold Price

56

MAY 2019

MAY 2020

% Change

Median Price (in $1,000)

$1,243

$1,925

55%

Average Price Per Sq. Foot

$1,208

$1,095

-9%

Properties for Sale

56

56 0%

Properties Pending Sales

18

26 44%

Properties Sold

12

10 -17%

Days on Market (Sold Homes)

49

26 -47%

Monthly Supply of Inventory

4.7

5.6 19%

Absorption Rate (Closed Sales) 21.4

17.9 -16%

Listings for Sale

26

Listings Pending

AVERAGE & MEDIAN PRICE $2,608

$3,000

$3,500 $2,500

$3,000

10

$1,925

$2,593

$2,000

$2,500

Listings Sold $1,500 $2,000

$1,655

26

Days On Market

$1,500

$1,000

$1,000 $500

$500 $-

$-

Median

Average


Lawndale MAY STATS Key Facts:

$572,000

Median Sold Price

$557,000

Average Sold Price

26

Median Price (in $1,000)

$672

$572

-15%

Average Price Per Sq. Foot

$414

$582

41%

Properties for Sale

16

26 63%

Properties Pending Sales

7

10 43%

Properties Sold

13

4 -69%

Days on Market (Sold Homes)

34

20 -41%

Monthly Supply of Inventory

1.2

6.5 442%

Absorption Rate (Closed Sales) 81.3

Listings for Sale

10

Listings Pending

MAY MAY % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,500

$800 $557

$3,000 $700

4

Listings Sold

15.4 -81%

$572 $2,593

$600

$2,500

$500

$2,000 $400

20

Days On Market

$1,655

$1,500

$300

$200 $1,000 $100

$500

$-

$-

Median

Average


Lomita MAY STATS Key Facts:

$700,000 Median Sold Price

$724,000

Average Sold Price

15

MAY 2019

MAY 2020

Median Price (in $1,000)

$685

$700

2%

Average Price Per Sq. Foot

$451

$433

-4%

Properties for Sale

21

15 -29%

Properties Pending Sales

17

9 -47%

Properties Sold

13

11 -15%

Days on Market (Sold Homes)

33

34 3%

Monthly Supply of Inventory

1.6

1.4 -13%

Absorption Rate (Closed Sales) 61.9 73.3 18%

Listings for Sale

9

Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $900 $724

$800 $3,000

11

Listings Sold

% Change

$700

$2,593

$700

$2,500 $600

$2,000 $500 $1,655 $400

34

Days On Market

$1,500

$300

$1,000 $200 $100

$500

$-

$-

Median

Average


Manhattan Beach MAY STATS Key Facts:

$2,562,000 Median Sold Price

$2,642,000 Average Sold Price

131

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$2,499

$2,562

3%

Average Price Per Sq. Foot

$1,107

$1,078

-3%

Properties for Sale

128 131 2%

Properties Pending Sales

37

33 -11%

Properties Sold

45

20 -56%

Days on Market (Sold Homes)

44

36 -18%

Monthly Supply of Inventory

2.8

6.6 136%

Absorption Rate (Closed Sales) 35.2

15.3 -57%

Listings for Sale

33 Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,000 $3,500

20 Listings Sold

$2,642 $2,593 $2,562

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

$1,655

$2,000

36

Days On Market

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

May Jun Jul Aug Sep 2019 2019 2019 2019 2019

Oct Nov Dec 2019 2019 2019

Median

Average

Jan Feb Mar Apr 2020 2020 2020 2020

May 2020


Redondo Beach MAY STATS Key Facts:

$1,028,000 Median Sold Price

$1,085,000

Average Sold Price

97

MAY 2019

MAY 2020

Median Price (in $1,000)

$1,073

$1,028

-4%

Average Price Per Sq. Foot

$626

$601

-4%

Properties for Sale

108

97 -10%

Properties Pending Sales

90

51 -43%

Properties Sold

80

46 -43%

Days on Market (Sold Homes)

32

20 -38%

Monthly Supply of Inventory

1.4

2.1 50%

Absorption Rate (Closed Sales) 74.1

Listings for Sale

51

Listings Pending

Listings Sold

$3,500 $1,600 $1,085 $2,593 $1,028

$1,200 $2,500 $1,000 $2,000 $800

20

Days On Market

47.4 -36%

AVERAGE & MEDIAN PRICE

$1,400 $3,000

46

% Change

$1,655

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

Median

Average


San Pedro MAY STATS Key Facts:

$590,000

Median Sold Price

$631,000

Average Sold Price

73

MAY MAY % 2019 2020 Change

Median Price (in $1,000)

$594

$590

-1%

Average Price Per Sq. Foot

$423

$402

-5%

Properties for Sale

88

73 -17%

Properties Pending Sales

64

46 -28%

Properties Sold

58

36 -38%

Days on Market (Sold Homes)

35

50 43%

Monthly Supply of Inventory

1.5

2 33%

Absorption Rate (Closed Sales) 65.9

Listings for Sale

46

Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $800 $631

$700 $3,000

36

Listings Sold

49.3 -25%

$590 $2,593

$600 $2,500 $500 $2,000 $400

50

Days On Market

$1,655

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

Median

Average


Torrance MAY STATS Key Facts:

$858,000

Median Sold Price

$917,000

Average Sold Price

118

Median Price (in $1,000)

$810

$858

6%

Average Price Per Sq. Foot

$538

$561

4%

Properties for Sale

136

118 -13%

Properties Pending Sales

109

90 -17%

Properties Sold

104

46 -56%

Days on Market (Sold Homes)

22

22 0%

Monthly Supply of Inventory

1.3

2.6 100%

Absorption Rate (Closed Sales) 76.5

Listings for Sale

90

Listings Pending

MAY MAY % 2019 2020 Change

39 -49%

AVERAGE & MEDIAN PRICE $1,000 $3,500 $917 $950 $3,000

46

$2,593 $2,500 $900

Listings Sold

$858

$2,000 $850

22

Days On Market

$1,655

$1,500 $800 $1,000 $750 $500 $700 $-

Median

Average


Notes:


RE/MAX Estate Properties • 600+ Local Agents • 13 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064

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

MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

EL SEGUNDO 402 Main Street El Segundo, CA 90245

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266


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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 South Bay  

Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community.

Maureen Megowan Market Intelligence Reports South Bay  

Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community.