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South Bay Market Intelligence Report Vol. 4 | April 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 El Segundo

Lomita

Gardena

Manhattan Beach

Hawthorne

Redondo Beach

Hermosa Beach

San Pedro

Lawndale

Torrance

RE/MAX Estate Properties 700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International

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.


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.

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.

Average Price Per Square Foot:

Found by taking the price of each property and dividing that by its Properties Pending sale: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.

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.

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 April 2018 are based on data available at the end of March 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.


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


El Segundo March Stats Key Facts:

$1,214,000

Median Sold Price

$1,219,000

Average Sold Price

Mar. Mar. % 2017 2018 Change

Median Price

$1,100

$1,214

10%

Average Price Per Sq. Foot

$646

$710

10%

Properties for Sale

24

12 -50%

Properties Pending Sales

7

11 57%

Properties Sold

5

14 180%

Days on Market (Sold Homes)

11

34 209%

4.8

0.9 -81%

Absorption Rate (closed sales) 20.8

116.7 461%

Monthly Supply of Inventory

12

Listings for Sale

11

Listings Pending

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

$3,000 $1,400

14

Listings Sold

$1,219

$2,500

$1,214 $2,593

$1,200

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

34

Days On Market

$800 $1,500 $600

$1,000

$400

$500 $200

$-

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

Median

Average


Gardena March Stats Key Facts:

$530,000

Median Sold Price

$524,000

Average Sold Price

31

Listings Pending

$465

$530

14%

Average Price Per Sq. Foot

$331

$365

10%

Properties for Sale

31

31 0%

Properties Pending Sales

40

45 13%

Properties Sold

51

36 -29%

Days on Market (Sold Homes) 39

38 -3%

Monthly Supply of Inventory

0.9 50%

0.6

Absorption Rate (closed sales) 164.5 116.1 -29%

Average & Median Price $3,500 $600

$524 $530

$3,000

36

% Change

Median Price

Listings for Sale

45

Mar. Mar. 2017 2018

$500

$2,593

$2,500

Listings Sold

$400

$2,000 $1,655

38

Days On Market

$300

$1,500

$1,000$200

$500$100 $-

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

Median

Average


Hawthorne March Stats Key Facts:

$623,000

Median Sold Price

$637,000

Average Sold Price

29

Median Price

$585

$623

6%

Average Price Per Sq. Foot

$447

$427

-4%

Properties for Sale

50

29 -42%

Properties Pending Sales

40

44 10%

Properties Sold

38

34 -11%

Days on Market (Sold Homes)

39

19 -51%

Monthly Supply of Inventory

1.3

0.9 -31%

Absorption Rate (closed sales)

76

117.2 54%

Listings for Sale

44

Listings Pending

Mar. Mar. % 2017 2018 Change

Average & Median Price $3,500 $800 $700 $3,000

$637 $623

34

Listings Sold

$2,593

$600

$2,500

$500

$2,000

$1,655

$400

19

Days On Market

$1,500 $300

$1,000 $200

$500

$100

$-

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

Median

Average


Hermosa Beach March Stats Key Facts:

$1,728,000 Median Sold Price

$1,762,000

Average Sold Price

51

Mar. Mar. 2017 2018

Median Price

$1,585

$1,728

9%

Average Price Per Sq. Foot

$1,071

$829

-23%

Properties for Sale

46

51 11%

Properties Pending Sales

18

18 0%

Properties Sold

14

18 29%

Days on Market (Sold Homes) 77

43 -44%

Monthly Supply of Inventory

2.8 -15%

Listings Pending

3.3

Absorption Rate (closed sales) 30.4 35.3 16%

Listings for Sale

18

% Change

Average & Median Price $3,500

$3,500

$3,000

$3,000

18

Listings Sold

43

Days On Market

$2,593

$2,500

$2,500

$1,762

$2,000 $2,000

$1,728 $1,655

$1,500 $1,500

$1,000 $1,000 $500

$500

$-

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

Median

Average


Lawndale March Stats Key Facts:

$447,000

Median Sold Price

$428,000

Average Sold Price

15

Median Price

$535

$530

-1%

Average Price Per Sq. Foot

$373

$403

8%

Properties for Sale

17

10 -41%

Properties Pending Sales

10

14 40%

Properties Sold

9

13 44%

Days on Market (Sold Homes)

45

46 2%

Monthly Supply of Inventory

1.9

0.8 -58%

Absorption Rate (closed sales) 52.9

Listings for Sale

15

Listings Pending

Mar. Mar. % 2017 2018 Change

130 146%

Average & Median Price $3,500 $700

$3,000 $600

12

Listings Sold

$2,593 $428

$2,500

$500

$447

$2,000

$400

13

Days On Market

$1,655

$1,500

$300

$1,000 $200 $500 $100 $$Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018

Median

Average


Lomita March Stats Key Facts:

$585,000 Median Sold Price

$583,000

Average Sold Price

11

Listings Pending

% Change

Median Price

$525

$585

11%

Average Price Per Sq. Foot

$387

$411

6%

Properties for Sale

12

11 -8%

Properties Pending Sales

12

17 42%

Properties Sold

15

15 0%

Days on Market (Sold Homes) 55

30 -45%

Monthly Supply of Inventory

0.7 -13%

0.8

Absorption Rate (closed sales) 125 136.4 9%

Listings for Sale

17

Mar. Mar. 2017 2018

Average & Median Price $3,500 $800

$3,000 $700

15

Listings Sold

$583

$2,500

$600

$2,000 $500

30

Days On Market

$2,593 $585

$1,655

$400 $1,500 $300

$1,000

$200

$500 $100

$-

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

Median

Average


Manhattan Beach March Stats Key Facts:

$2,250,000

Median Sold Price

$2,683,000

Average Sold Price

80

Mar. Mar. % 2017 2018 Change

Median Price

$2,695

$2,250

-17%

Average Price Per Sq. Foot

$1,124

$1,069

-5%

Properties for Sale

105

80 -24%

Properties Pending Sales

55

48 -13%

Properties Sold

34

38 12%

Days on Market (Sold Homes)

64

41 -36%

Monthly Supply of Inventory

3.1

2.1 -32%

Absorption Rate (closed sales) 32.4 47.5 47%

Listings for Sale

48

Listings Pending

Average & Median Price $3,500 $4,000

$3,000 $3,500

38

Listings Sold

$2,593 $2,500

$2,683

$3,000

$2,500 $2,000

$2,250

$1,655

41

Days On Market

$2,000

$1,500

$1,500

$1,000 $1,000

$500 $500

$-

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

Median

Average


Redondo Beach March Stats Key Facts:

$1,050,000 Median Sold Price

$1,182,000

Average Sold Price

85

Mar. Mar. 2017 2018

Median Price

$994

$1,050

6%

Average Price Per Sq. Foot

$564

$587

4%

Properties for Sale

85

85 0%

Properties Pending Sales

73

83 14%

Properties Sold

70

65 -7%

Days on Market (Sold Homes) 33

34 3%

Monthly Supply of Inventory

1.3 8%

Listings Pending

1.2

Absorption Rate (closed sales) 82.4 76.5 -7%

Listings for Sale

83

Average & Median Price $3,500 $1,400

$3,000

65

Listings Sold

% Change

$1,182

$1,200

$2,593

$2,500

$1,050

$1,000

$2,000 $1,655

$800

34

Days On Market

$1,500 $600

$1,000 $400

$500

$200

$-

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

Median

Average


San Pedro March Stats Key Facts:

$591,000

Median Sold Price

$610,000

Average Sold Price

55

Mar. Mar. % 2017 2018 Change

Median Price

$490

$591

21%

Average Price Per Sq. Foot

$381

$419

10%

Properties for Sale

80

55 -31%

Properties Pending Sales

79

52 -34%

Properties Sold

61

54 -11%

Days on Market (Sold Homes)

40

35 -13%

Monthly Supply of Inventory

1.3

1 -23%

Absorption Rate (closed sales) 76.3 98.2 29%

Listings for Sale

52

Listings Pending

Average & Median Price $3,500 $700

$610

$3,000

54

Listings Sold

$591

$2,593

$600

$2,500 $500

$2,000 $1,655

$400

35

Days On Market

$1,500 $300

$1,000 $200

$500 $100

$-

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

Median

Average


Torrance March Stats Key Facts:

$790,000

Median Sold Price

$863,000

Average Sold Price

78

Median Price

$728

$790

9%

Average Price Per Sq. Foot

$507

$531

5%

Properties for Sale

92

78 -15%

Properties Pending Sales

95

108 14%

Properties Sold

84

79 -6%

Days on Market (Sold Homes)

34

17 -50%

Monthly Supply of Inventory

1.1

1 -9%

Absorption Rate (closed sales) 91.3 101.3 11%

Listings for Sale

108

Listings Pending

Mar. Mar. % 2017 2018 Change

Average & Median Price $3,500 $1,400

$3,000 $1,200

79

Listings Sold

$2,593

$2,500 $1,000

$863

$2,000

$790

$800

17

Days On Market

$1,655

$1,500 $600

$1,000

$400

$500

$200

$-

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

Median

Average


RE/MAX Estate Properties • 700+ Local Agents • 17 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

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

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

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

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Maureen Megowan Market Intelligence Reports South Bay  

Designed to give you the facts and trends overview of the most relevant market activities as they unfold in the South Bay real estate commun...

Maureen Megowan Market Intelligence Reports South Bay  

Designed to give you the facts and trends overview of the most relevant market activities as they unfold in the South Bay real estate commun...