Vol. 5 | August 2019
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 • 14 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
Marilyn Cristiano Budde (310) 977-7932
marilyncristianobudde@cox.net www.marilyncristianobudde.com LIC# 00580324
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
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 Aug. 2019 are based on data available at the end of July 2019. 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 JULY STATS Key Facts:
$1,180,000
Median Sold Price
$1,236,000
Average Sold Price
13
July July % 2018 2019 Change
Median Price (in $,000)
$1,020
$1,180
16%
$633
$677
7%
Average Price Per Sq. Foot Properties for Sale
16
13 -19%
Properties Pending Sales
13
11 -15%
Properties Sold
15
13 -13%
Days on Market (Sold Homes)
32
38 19%
Monthly Supply of Inventory
1.1
1 -9%
Absorption Rate (closed sales) 93.8 100 7%
Listings for Sale
11
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $1,800
$3,000
$1,600
13
Listings Sold
$2,593
$1,400 $2,500
$1,236
$1,180
$1,200
$2,000 $1,000
38
Days On Market
$1,655
$1,500 $800 $600
$1,000
$400
$500
$200
$- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Gardena JULY STATS Key Facts:
$565,000
Median Sold Price
$573,000
Average Sold Price
58
July 2018
Listings Pending
$567
$565
0%
Average Price Per Sq. Foot
$389
$414
6%
Properties for Sale
49
58 18%
Properties Pending Sales
34
48 41%
Properties Sold
30
40 33%
Days on Market (Sold Homes) 26
25 -4%
Monthly Supply of Inventory
1.5 -6%
1.6
Absorption Rate (closed sales) 61.2 69 13%
AVERAGE & MEDIAN PRICE $3,500$620 $600
$3,000
40
% Change
Median Price (in $,000)
Listings for Sale
48
July 2019
$573
$580
$2,593
$565
$2,500 $560
Listings Sold
$2,000$540 $1,655
25
Days On Market
$520
$1,500
$500
$1,000 $480
$500$460 $-
$440 July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Hawthorne JULY STATS Key Facts:
$718,000
Median Sold Price
$754,000
Average Sold Price
42
July July % 2018 2019 Change
Median Price (in $,000)
$737
$718
-3%
Average Price Per Sq. Foot
$499
$515
3%
Properties for Sale
42
42 0%
Properties Pending Sales
40
46 15%
Properties Sold
45
35 -22%
Days on Market (Sold Homes)
19
25 32%
Monthly Supply of Inventory
0.9
1.2 33%
Absorption Rate (closed sales) 107.1
Listings for Sale
46
Listings Pending
83.3 -22%
AVERAGE & MEDIAN PRICE $754
$800
$3,500
$718 $700
$3,000
35
Listings Sold
$600
$2,593
$2,500 $500
$2,000 $400
25
Days On Market
$1,655
$1,500
$300
$1,000 $200 $100 $500
$-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Hermosa Beach JULY STATS Key Facts:
$1,675,000 Median Sold Price
$2,062,000
Average Sold Price
72
July 2018
July 2019
% Change
Median Price (in $,000)
$1,742
$1,675
-4%
Average Price Per Sq. Foot
$1,054
$1,073
2%
Properties for Sale
64
72 13%
Properties Pending Sales
14
24 71%
Properties Sold
20
19 -5%
Days on Market (Sold Homes) 32
46 44%
Monthly Supply of Inventory
3.2
3.8 19%
Absorption Rate (closed sales) 31.3
26.4 -16%
Listings for Sale
24
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$3,500 $3,000
$3,000
19
Listings Sold
$2,500
$2,062$2,593
$2,500 $2,000
$2,000
$1,675
$1,655
$1,500
46
Days On Market
$1,500
$1,000
$1,000
$500
$500
$-$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Lawndale JULY STATS Key Facts:
$638,000
Median Sold Price
$622,000
Average Sold Price
16
Median Price (in $,000)
$535
$638
19%
Average Price Per Sq. Foot
$353
$413
17%
Properties for Sale
21
16 -24%
Properties Pending Sales
11
16 45%
Properties Sold
7
16 129%
Days on Market (Sold Homes)
51
29 -43%
Monthly Supply of Inventory
3
1 -67%
Absorption Rate (closed sales) 33.3
100 200%
Listings for Sale
16
Listings Pending
July July % 2018 2019 Change
AVERAGE & MEDIAN PRICE $3,500
$800
$622
$3,000 $700
16
Listings Sold
$638
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
29
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Lomita JULY STATS Key Facts:
$703,000 Median Sold Price
$677,000
Average Sold Price
18
July 2018
July 2019
Median Price (in $,000)
$720
$703
-2%
Average Price Per Sq. Foot
$449
$415
-8%
Properties for Sale
17
18 6%
Properties Pending Sales
12
15 25%
Properties Sold
10
22 120%
Days on Market (Sold Homes) 17
37 118%
Monthly Supply of Inventory
1.7
0.8 -53%
Absorption Rate (closed sales) 58.8
122.2 108%
Listings for Sale
15
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$800 $677
$3,000 $700
22
Listings Sold
% Change
$703
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
37
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Manhattan Beach JULY STATS Key Facts:
$2,363,000
Median Sold Price
$2,929,000
Average Sold Price
128
July July % 2018 2019 Change
Median Price (in $,000)
$2,240
$2,363
5%
$1,121
$993
-11%
Average Price Per Sq. Foot Properties for Sale
93
128 38%
Properties Pending Sales
38
31 -18%
Properties Sold
49
30 -39%
Days on Market (Sold Homes)
49
31 -37%
Monthly Supply of Inventory
1.9
4.3 126%
Absorption Rate (closed sales) 52.7
23.4 -56%
Listings for Sale
31
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$4,000
$3,000 $3,500 $2,929
30
Listings Sold
$2,593
$3,000 $2,500
$2,363
$2,500
$2,000
$1,655
$2,000
31
Days On Market
$1,500 $1,500
$1,000
$1,000
$500 $500 $- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Redondo Beach JULY STATS Key Facts:
Median Price (in $,000)
$1,100,000 Median Sold Price
$1,194,000
Average Sold Price
118
Average Price Per Sq. Foot
Listings Pending
July 2019
$1,090
$1,100
1%
$570
$596
5%
98
118 20%
Properties Pending Sales
66
65 -2%
Properties Sold
69
72 4%
Days on Market (Sold Homes) 30
28 -7%
Monthly Supply of Inventory
1.6 14%
1.4
Absorption Rate (closed sales) 70.4 61 -13%
AVERAGE & MEDIAN PRICE $3,500 $1,400 $1,194
$3,000
$1,200
72
Listings Sold
$1,100
$2,593
$2,500
$1,000
$2,000 $800
28
Days On Market
% Change
Properties for Sale
Listings for Sale
65
July 2018
$1,655
$1,500 $600 $400 $1,000 $200 $500 $-
$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
Torrance JULY STATS Key Facts:
$840,000
Median Sold Price
$860,000
Average Sold Price
137
Median Price (in $,000)
$750
$840
12%
Average Price Per Sq. Foot
$514
$523
2%
Properties for Sale
148
137 -7%
Properties Pending Sales
100 98 -2%
Properties Sold
111
85 -23%
Days on Market (Sold Homes)
25
30 20%
Monthly Supply of Inventory
1.3
1.6 23%
Absorption Rate (closed sales)
75
62 -17%
Listings for Sale
98
Listings Pending
July July % 2018 2019 Change
AVERAGE & MEDIAN PRICE $3,500 $1,000 $860
$900
$840
$3,000
$800
85
Listings Sold
$2,593
$2,500$700 $600
$2,000
$1,655
$500
30
Days On Market
$1,500$400 $300
$1,000
$200
$500
$100
$- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019
Median
Average
RE/MAX Estate Properties • 600+ Local Agents • 14 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064
SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
EL SEGUNDO 402 Main Street El Segundo, CA 90245
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
Marilyn Cristiano Budde (310) 977-7932
marilyncristianobudde@cox.net www.marilyncristianobudde.com LIC# 00580324