PALOS VERDES
Market MarketIntelligence IntelligenceReport Report
Volume8 8| November | October 2022 Volume 2022
Anthony Todora, GRI
RE/MAX Estate Properties Branch Manager
Cell: 310.738.6775 Office: 310.427.3369 Email: atodora1@yahoo.com www.TheTodoraTeam.com
5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Lic# 00878016
PALOS VERDES MARKETS Harbor City
4
Palos Verdes Estates
6
Rancho Palos Verdes
8
Rolling Hills
10
Rolling Hills Estates
12
San Pedro
14
Wilmington
16
REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.
PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.
PROPERTIES FOR SALE: The total number of available properties for sale.
DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.
SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from the previous month exceed current inventory.
The Palos Verdes Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.
HARBOR CITY Harbor City is a growing, vibrant community just east of the Palos Verdes Peninsula and 30 minutes south of downtown Los Angeles. Ideally located as a gateway between the port cities and beach cities, residents have easy access to explore the greater Los Angeles area. Harbor City is home to an expansive Kaiser hospital, regional park, and community college – providing avenues for wellness and work opportunities. Housing in Harbor City is a mixture of single-family residences and low-rise apartments, many of which are walkable to parks and delicious restaurants.
ATTRACTIONS
RESTAURANTS
•
Ken Malloy Harbor Park
•
Harbor City Library
•
Tacos El Goloso
•
Philipo's Pizza and Pasta
•
Machado Lake
•
Harbor City Skatepark
•
Raku Sushi Tonkatsu
•
Monarca's Mexican Food
•
Los Angeles Harbor College •
The Skating Edge Ice Arena
•
Baja Fish Grill
•
Chicken Maison
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
23
7
$640K
14
$439
30%
25
25
$750K
9
$453
100%
-8%
-72%
-15%
+56%
-3%
-70%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $750,000
$800,000
$789,000 $700,000
$830,000 $745,000
$767,500
$830,000 $744,000
$779,000
$794,000
$600,000
31 25
25
22
11
Oct-21
Nov-21
16
13
Dec-21
15
13
Jan-22
23
18 12
Feb-22
17
17
Mar-22
28
25 18
Apr-22
15
May-22
28
27 19
$640,000
23
20
13
Jun-22
Jul-22
Aug-22
6
7
Sep-22
Oct-22
PALOS VERDES ESTATES Master-planned by noted landscape architect Fredrick Law Olmstead Jr., Palos Verdes Estates is perched on the northwestern edge of the Palos Verdes Peninsula. The city is ideally located for postcard perfect views and privacy while still offering close proximity to South Bay beach city nightlife. It is known for its high-performing schools, and Palos Verdes Peninsula High School is consistently found in top ranks in national publications. Residences in the area are pleasantly placed in between several open and green spaces and range from mid-century modern family homes to $10 million+ palatial estates, offering many options for buyers.
ATTRACTIONS
RESTAURANTS
•
Palos Verdes Golf Club
•
Flat Rock Point & Beach
•
Salsa Verdes
•
Malaga Cove Ranch Market
•
Bluff Cove Trail
•
George Allen Field
•
Black Bamboo Sushi
•
Rafaello's Pizza
•
Malaga Dunes
•
Roessler Point
•
The Cove Cafe
•
Lunada Market & Deli
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
27
10
$3.51M
29
$978
37%
41
10
$2.38M
11
$1,008
24%
-34%
0%
+47%
+164%
-3%
+52%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $3,762,500
$3,550,000 $3,051,000 $2,798,800
$3,510,000
$3,465,000 $3,000,000
$2,750,000
$2,650,000
$2,650,000
$2,425,000
$2,382,500
$2,225,000
48
41 25
25
10 Oct-21
Nov-21
23
26 16
Dec-21
26 7
Jan-22
11
Feb-22
20
24
Mar-22
30
26 16
Apr-22
41
38 24 11
May-22
8
Jun-22
Jul-22
33
27
16
16
Aug-22
Sep-22
10 Oct-22
RANCHO PALOS VERDES Anchored by the iconic Point Vicente Lighthouse and dramatic coastal views of Catalina Island and beyond, Rancho Palos Verdes is the largest city on the peninsula. Like its neighbors, the city enjoys highly ranked schools and is consistently ranked as one of the wealthiest zip codes in the United States. Recreation activities abound in the many horse and hiking trails as well as two golf courses, the Terranea Resort, and several parks. Top city employers are in the education, resort, and real estate industries. Real estate opportunities are largely single-family homes that range from mid-century traditional single-story homes to truly exceptional estates.
ATTRACTIONS
RESTAURANTS
•
Los Verdes Golf Course
•
Peninsula Racquet Club
•
Mar'sel
•
Tomatillo Mexican Grill
•
Point Vicente Lighthouse
•
Terranea Resort
•
Swan Thai
•
Nelson's
•
Abalone Cove Trail & Beach
•
Del Cerro Park
•
Avenue Italy
•
Peninsula Tap House
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
79
36
$1.67M
21
$762
46%
81
41
$1.78M
9
$768
51%
-2%
-12%
-6%
+133%
-1%
-10%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $1,780,000
$1,750,000
$1,575,000
$1,750,000
$1,745,000
$1,797,500
$1,867,500
$1,799,000
$1,850,000
93
81 41
Oct-21
53
57 39
Nov-21
34
Dec-21
$1,759,250
$1,525,000
44
33
Jan-22
50
58
33
Feb-22
48
Mar-22
59
46
Apr-22
61
54
May-22
87
83
67 43
Jun-22
31
Jul-22
$1,650,000
42
Aug-22
$1,668,000
79
31
Sep-22
36
Oct-22
ROLLING HILLS For those seeking ultimate privacy, Rolling Hills is the perfect community. This equestrian-friendly city is entirely comprised of private land and is only accessible by three gates with 24/7 staffing. Located in the central portion of the Palos Verdes Peninsula, residents are still treated to stunning coastal views, parks, and trails for outdoor activities. Bordered by Portuguese Canyon, Rolling Hills Estates, and Rancho Palos Verdes, Rolling Hills offers a peaceful setting while within close proximity to fine dining, sport and recreation areas, and professional services.
ATTRACTIONS •
Hesse's Gap
•
Aqua Magna Canyon
•
Saffo's Rest
•
Westfield Park
•
Stormhill Park
•
Portuguese Canyon
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
7
0
N/A
N/A
N/A
0%
9
1
$4.50M
0
$1,394
11%
-22%
-100%
N/A
N/A
N/A
-100%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $4,500,000
$4,665,000
$4,500,000
$4,250,000
$4,025,000 $3,575,000
$3,556,000
$3,641,155
$3,400,000
$3,125,000
9
9
9
9 5
1 Oct-21
2
6
3
7
6 2
5
3
4 2
0
Nov-21
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
8
7
6 3
1 Jun-22
7
1 Jul-22
Aug-22
0
0
Sep-22
Oct-22
ROLLING HILLS ESTATES Founded in 1957, Rolling Hills Estates offers small town, semi-rural living with a thriving city organization. Residents are afforded three convenient shopping centers, dining, trail access, and a myriad of local community events throughout the year. The city is best known for its love of all things equestrian, offering over 25 miles of scenic horse trails and an Equestrian Center. Real estate is largely single-family homes with nods to several custom architectural styles to choose from. Located on the northern end of the Peninsula, residents enjoy the tight-knit community as well as the close proximity to urban centers, industry, and world-famous beaches.
ATTRACTIONS
RESTAURANTS
• South Coast Botanic Garden • Rolling Hills Park Tennis Club • Chicken Maison • Peter Weber Equestrian Center
• Mama Terrano
• Promenade Ice Chalet
• The Original Red Onion
• The Crepery Cafe
• Rolling Hills Little League
• Giorgio's
• TantaWan Thai Cuisine
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
63
16
$1.29M
25
$698
25%
33
34
$1.82M
10
$783
103%
+91%
-53%
-29%
+150%
-11%
-75%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $2,385,500
$2,325,000
$1,815,000
$1,940,000
$1,895,000 $1,672,500
$1,477,500
$1,430,000
$1,380,000
65
63 33
34
Oct-21
24
28
Nov-21
$1,850,000
$1,830,000
$1,675,000
18
27
Dec-21
28
16
Jan-22
27
26
Feb-22
30
32
Mar-22
30
31
Apr-22
32
41 27
May-22
24
Jun-22
21
Jul-22
$1,287,000
63
61 31
Aug-22
27
Sep-22
16
Oct-22
SAN PEDRO San Pedro is a unique and vibrant community that feels like its own city. San Pedro is one of the cities with direct access to The Port of Los Angeles, a major international seaport. Originally dominated by the fishing industry, San Pedro has grown into a working class community with a wide variety of outdoor recreation spaces, family-friendly activities, and a thriving shopping and dining scene. San Pedro is also hosts the annual Shakespeare by the annual summer Sea festival. Real estate offerings include single-family homes with some condos available, offering a multitude of styles and finishes.
ATTRACTIONS
RESTAURANTS
•
Point Fermin Park
•
Cabrillo Beach Yacht Club
•
Raffaello Ristorante
•
J. Trani's Ristorante
•
Cabrillo Aquarium
•
Crafted at the Port of LA
•
Crazy Fish - Grill & Market
•
Sebastians's Mediterranean
•
Deane Dana Friendship Park •
Old San Pedro
•
Sirinat Thai & Sushi Bar
•
Compagnon Wine Bistro
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
78
34
$762K
18
$518
44%
106
67
$765K
8
$518
63%
-26%
-49%
-0.4%
+125%
0%
-31%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $765,000
106
$815,000 $705,000
$710,000
$770,000
68
60
65
64
63 39
Oct-21
$808,000
$815,000
$880,000
104
89
67
$820,000
Nov-21
Dec-21
Jan-22
73
49
Feb-22
67
Mar-22
68
83 54
Apr-22
41
May-22
50
Jun-22
$814,444
$800,000
$766,000
94
94
93
46
Jul-22
53
Aug-22
$762,000
78 34
Sep-22
34
Oct-22
WILMINGTON Wilmington is one of the oldest communities in Los Angeles and enjoys a long and proud history of being the gateway to Los Angeles. Inside the area, you will find many historical museums, military installations, six parks, waterfront attractions, a community center, and skate plaza. Wilmington has a heavy concentration of industry and the third largest oil field in the United States, offering several employment opportunities. Wilmington is primarily comprised of single-family homes perfect for families and professionals. Bordered by Long Beach, Carson, and San Pedro, Wilmington offers convenient freeway access to explore greater Los Angeles and beyond.
ATTRACTIONS
RESTAURANTS
•
Vincent Thomas Bridge
•
The Banning Museum
•
San Pedro Fish Market Grille •
•
Terminal Island
•
California Yacht Marina
•
Issac's Cafe
•
Hojas Premium Tea House
•
Wilmington Waterfront Park •
The Chowder Barge
•
Eat at Rudy's
John Mendez Baseball Park •
Montoya's
MARKET SUMMARY
OC TOBER 2022 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
29
7
$600K
10
$447
24%
16
9
$575K
14
$521
56%
+81%
-22%
+4%
-29%
-14%
-57%
OCTOBER
2022 OCTOBER
2021 PERCENT CHANGE
13-MONTH TRENDS $575,000
$617,500
$637,500
$625,000
$663,750
$683,250
$635,000
$625,000
$559,250
$649,000
$621,500
33 16 9
Oct-21
14
12
Nov-21
$600,000
$516,000
14
12
Dec-21
16
19
15 8
7
Jan-22
Feb-22
16
17
16
22
18 9
Mar-22
Apr-22
May-22
13
9
Jun-22
29
21 13
Jul-22
9
8
7
Aug-22
Sep-22
Oct-22
BEVERLY HILLS
WE ARE THE COAST BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050
PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425
REDONDO BEACH 1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747
PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
MANHATTAN BEACH/DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
MARINA DEL REY/VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
WESTCHESTER/SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
WEST LOS ANGELES
MARINA DEL REY/VENICE WESTCHESTER/SILICON BEACH
EL SEGUNDO
MANHATTAN BEACH MANHATTAN BEACH/DOWNTOWN REDONDO BEACH TORRANCE PALOS VERDES - MALAGA COVE PALOS VERDES - SILVER SPUR PALOS VERDES - MIRALESTE
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720
Anthony Todora, GRI
RE/MAX Estate Properties Branch Manager
Cell: 310.738.6775 Office: 310.427.3369 Email: atodora1@yahoo.com www.TheTodoraTeam.com
Market Intelligence Report Volume 8 | November 2022 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Lic# 00878016