Vol. 6 | September 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 • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
L i ll i a n e T i r a do Realtor® | DRE# 02008313 RE/MAX Estate Properties 1040 Manhattan Boulevard Manhattan Beach, CA 90266
424.325.8698 LillyE.MBRealty@outlook.com
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 Torrance................................................................12 Carson...................................................................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 September 2020 are based on data available at the end of August 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 AUGUST STATS Key Facts:
$1,665,000
Median Sold Price
$1,587,000
Average Sold Price
17
AUGUST AUGUST % 2019 2020 Change
Median Price (in $1,000)
$1,590
$1,665
5%
Average Price Per Sq. Foot
$689
$729
6%
Properties for Sale
19
17 -11%
Properties Pending Sales
11
20 82%
Properties Sold
8
7 -13%
Days on Market (Sold Homes)
65
5 -92%
Monthly Supply of Inventory
2.4 2.4 0%
Absorption Rate (Closed Sales) 42.1 41.2 -2%
Listings for Sale
AVERAGE & MEDIAN PRICE
$1,800
20
Listings Pending
$1,600
$3,500
$1,400
$3,000
7
Listings Sold
$1,200
$2,593
$2,500 $1,000
$2,000 $1,655
$800
5
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$-
$Aug 2019
Sep 2019
Oct 2019
Nov 2019
Dec 2019
Feb 2020
Median
Mar 2020
Apr 2020
Average
May 2020
Jun Jul 2020 Aug 2020 2020
Gardena AUGUST STATS Key Facts:
$628,000
Median Sold Price
$604,000
Average Sold Price
19
AUGUST 2019
Median Price (in $1,000)
$567
$628
11%
Average Price Per Sq. Foot
$409
$443
8%
Properties for Sale
50
19 -62%
Properties Pending Sales
37
27 -27%
Properties Sold
46
32 -30%
Days on Market (Sold Homes)
39
18 -54%
Monthly Supply of Inventory
1.1
0.6 -45%
Absorption Rate (Closed Sales) 92
168.4 83%
Listings for Sale
27
Listings Pending
AUGUST % 2020 Change
AVERAGE & MEDIAN PRICE $604
$3,500$700
$628
$3,000$600
32
$2,593 $2,500$500
Listings Sold $2,000$400 $1,655
18
Days On Market
$1,500$300 $1,000$200 $100
$500
$-
$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Hawthorne AUGUST STATS Key Facts:
$795,000
Median Sold Price
$761,000
Average Sold Price
36
AUGUST AUGUST % 2019 2020 Change
Median Price (in $1,000)
$700
$795
14%
Average Price Per Sq. Foot
$495
$505
2%
Properties for Sale
45
36 -20%
Properties Pending Sales
29
38 31%
Properties Sold
27
37 37%
Days on Market (Sold Homes)
27
20 -26%
Monthly Supply of Inventory
1.7
1 -41%
Absorption Rate (Closed Sales) 60
Listings for Sale
38
Listings Pending
102.8 71%
AVERAGE & MEDIAN PRICE $3,500$900
$761
$795
$800
$3,000 $700
37
$2,593
$2,500
$600
Listings Sold
$2,000$500 $1,655 $400
20
Days On Market
$1,500
$300
$1,000
$200
$500$100
$-
$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Hermosa Beach AUGUST STATS Key Facts:
AUGUST 2019
Median Price (in $1,000)
$1,900,000 Median Sold Price
$2,209,000
Average Sold Price
57
Average Price Per Sq. Foot
Listings Pending
$1,620
$1,900
17%
$952
$920
-3%
Properties for Sale
67
57 -15%
Properties Pending Sales
16
18 13%
Properties Sold
19
22 16%
Days on Market (Sold Homes)
54
47 -13%
Monthly Supply of Inventory
3.5
2.6 -26%
Absorption Rate (Closed Sales) 28.4 38.6 36%
Listings for Sale
18
AVERAGE & MEDIAN PRICE $3,000
$2,209
$3,500 $2,500
$3,000
22
AUGUST % 2020 Change
$1,900
$2,593
$2,000 $2,500
Listings Sold $2,000
$1,500
47
Days On Market
$1,655
$1,500 $1,000
$1,000 $500
$500 $- $-
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Lawndale AUGUST STATS Key Facts:
$575,000
Median Sold Price
$570,000
Average Sold Price
16
Median Price (in $1,000)
$583
$575
-1%
Average Price Per Sq. Foot
$440
$451
3%
Properties for Sale
9
16 78%
Properties Pending Sales
16
20 25%
Properties Sold
18
13 -28%
Days on Market (Sold Homes)
31
24 -23%
Monthly Supply of Inventory
0.5
1.2 140%
Absorption Rate (Closed Sales) 200
81.3 -59%
Listings for Sale
20
Listings Pending
AUGUST AUGUST % 2019 2020 Change
AVERAGE & MEDIAN PRICE $3,500
$800 $570
$3,000 $700
13
Listings Sold
$2,593 $575
$600 $2,500 $500
$2,000
$1,655
$400
24
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $-
$-
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Lomita AUGUST STATS Key Facts:
$680,000 Median Sold Price
$696,000
Average Sold Price
15
AUGUST 2019
Median Price (in $1,000)
$765
$680
-11%
Average Price Per Sq. Foot
$372
$502
35%
Properties for Sale
18
15 -17%
Properties Pending Sales
13
22 69%
Properties Sold
15
13 -13%
Days on Market (Sold Homes)
39
10 -74%
Monthly Supply of Inventory
1.2
1.2 0%
Absorption Rate (Closed Sales) 83.3 86.7 4%
Listings for Sale
22
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $900
$3,000 $800
13
Listings Sold
AUGUST % 2020 Change
$696
$2,593 $680
$700
$2,500
$600
$2,000
$500
10
Days On Market
$1,655
$400 $1,500 $300
$1,000 $200
$500 $100 $-
$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Manhattan Beach AUGUST STATS Key Facts:
$2,880,000 Median Sold Price
$3,221,000 Average Sold Price
124
Median Price (in $1,000)
$2,613
$2,880
10%
Average Price Per Sq. Foot
$1,181
$1,042
-12%
Properties for Sale
124 124 0%
Properties Pending Sales
23
55 139%
Properties Sold
40
47 18%
Days on Market (Sold Homes)
57
58 2%
Monthly Supply of Inventory
3.1
2.6 -16%
Absorption Rate (Closed Sales) 32.3 37.9 17%
Listings for Sale
55 Listings Pending
AUGUST AUGUST % 2019 2020 Change
AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,221 $3,500 $3,000
47 Listings Sold
$2,880
$2,593
$3,000 $2,500 $2,500 $2,000
$1,655
$2,000
58
Days On Market
$1,500 $1,500 $1,000 $1,000 $500 $500 $-$-
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020
Median
Average
Redondo Beach AUGUST STATS Key Facts:
$1,013,000 Median Sold Price
$1,161,000
Average Sold Price
89
Listings Pending
AUGUST % 2020 Change
Median Price (in $1,000)
$1,100
$1,013
-8%
Average Price Per Sq. Foot
$660
$632
-4%
Properties for Sale
117
89 -24%
Properties Pending Sales
62
92 48%
Properties Sold
59
88 49%
Days on Market (Sold Homes)
25
18 -28%
Monthly Supply of Inventory
2
1 -50%
Absorption Rate (Closed Sales) 50.4 98.9 96%
Listings for Sale
92
AUGUST 2019
AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,161 $1,400 $3,000
88
Listings Sold
$1,013
$1,200 $2,500 $1,000 $2,000
$1,655
$800
18
Days On Market
$2,593
$1,500 $600 $1,000 $400 $500 $200 $$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Torrance AUGUST STATS Key Facts:
$900,000
Median Sold Price
$1,008,000
Average Sold Price
105
Median Price (in $1,000)
$866
$900
4%
Average Price Per Sq. Foot
$559
$581
4%
Properties for Sale
133
105 -21%
Properties Pending Sales
111
116 5%
Properties Sold
102 117 15%
Days on Market (Sold Homes)
33
26 -21%
Monthly Supply of Inventory
1.3
0.9 -31%
Absorption Rate (Closed Sales) 76.7 111.4 45%
Listings for Sale
116
Listings Pending
AUGUST AUGUST % 2019 2020 Change
AVERAGE & MEDIAN PRICE $1,008
$1,200 $3,500
$3,000 $1,000
117
Listings Sold
$900 $2,593 $2,500 $800 $2,000 $1,655
$600
26
Days On Market
$1,500 $400 $1,000 $200 $500
$-$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Carson AUGUST STATS Key Facts:
$565,000 Median Sold Price
$559,000
Average Sold Price
AUGUST 2019
Median Price (in $1,000)
$565
$565
0%
Average Price Per Sq. Foot
$367
$397
8%
Properties for Sale
41
25 -39%
Properties Pending Sales
38
42 11%
Properties Sold
41
26 -37%
Days on Market (Sold Homes)
29
16 -45%
Monthly Supply of Inventory
25
Listings Pending
26
Listings Sold
1
1 0%
Absorption Rate (Closed Sales) 100 104 4%
Listings for Sale
42
AUGUST % 2020 Change
AVERAGE & MEDIAN PRICE $620 $3,500 $559 $600 $3,000 $580
$2,593 $565
$2,500 $560 $2,000 $540
16
Days On Market
$1,655
$1,500 $520 $1,000 $500 $500 $480 $$460 Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
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
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 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
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L i ll i a n e T i r a do RealtorÂŽ | DRE# 02008313 RE/MAX Estate Properties 1040 Manhattan Boulevard Manhattan Beach, CA 90266
424.325.8698 LillyE.MBRealty@outlook.com