PALOS VERDES
Market Market Intelligence Intelligence Report
PRIVATE CLIENT ADVISORS
Saul Larnerr PH.D.,
Volume 7 | 7September Volume | October 2021
LL.M., MBA
DRE# 0 0 82 6591
Direct: 310.867.4840 Sold@splarner.realtor www.splarner.realtor www.zeninspiredhome.com
9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
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 previous month exceed current inventory.
The Palos Verdes Market 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 or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2021.
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 delicious restaurants and parks.
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
SEPTEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
29
17
$715K
7
$448
59%
2020
47
11
$625K
6
$497
23%
PERCENT CHANGE
-38%
+55%
+12%
+17%
-10%
+150%
SEPTEMBER
2021 SEPTEMBER
13-MONTH TRENDS $775,000
$730,000
$704,083 $625,000
47
$582,500
42
$630,000
$625,000
$641,620
$642,000
$715,000
$522,800
37 20
11
Sep-20
$585,000
$700,000
18
25
20
17 9
Oct-20
Nov-20
Dec-20
Jan-21
17
16
Feb-21
16
13
Mar-21
16
20
Apr-21
20
15
May-21
21
20
Jun-21
29
26 18
14
Jul-21
17
17
Aug-21
Sep-21
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 ideally located for postcard perfect views and privacy while still offering close proximity to South Bay beach city nightlife. Known for it's high performing schools, 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
SEPTEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
36
29
$2.42M
16
$954
81%
2020
51
24
$2.22M
23
$820
47%
PERCENT CHANGE
-29%
+21%
+15%
-30%
+16%
+71%
SEPTEMBER
2021 SEPTEMBER
13-MONTH TRENDS $2,750,000 $2,220,400
$2,562,500 $2,220,000
$2,030,000 $1,773,000
51
47 21
Sep-20
Oct-20
28 11
Nov-20
21
Dec-20
28 13
Jan-21
44
$2,510,000
$2,332,500
$2,420,000
$2,070,000
$1,875,000
48
42
24
$1,932,000
$2,331,359
49
43
37
20
19
20
23
Feb-21
Mar-21
Apr-21
May-21
50
44 16
Jun-21
27
22
Jul-21
Aug-21
36
29
Sep-21
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 it's 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 singlefamily 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
SEPTEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
71
61
$1.72M
9
$768
86%
2020
120
44
$1.36M
17
$611
37%
PERCENT CHANGE
-41%
+39%
+14%
-47%
+26%
+134%
SEPTEMBER
2021 SEPTEMBER
13-MONTH TRENDS $1,777,500 $1,355,000
$1,450,000
121
120
$1,350,000
$1,395,175
$1,417,500
$1,500,000
$1,607,000
44
51
52
Sep-20
Oct-20
Nov-20
58
Dec-20
76
75 47
34
35
Jan-21
Feb-21
$1,655,000
$1,437,500
108 64
$1,715,000
90 52
58
Mar-21
Apr-21
66
54
May-21
73
57
Jun-21
70
$1,718,000 $1,543,040
90 52
Jul-21
62
Aug-21
71
61
Sep-21
ROLLING HILLS For those ultimate privacy seekers, 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 and outdoor 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
SEPTEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
6
3
$3.30M
5
$1,036
50%
2020
9
6
$3.43M
22
$857
67%
PERCENT CHANGE
-33%
-50%
-3%
-77%
+21%
-25%
SEPTEMBER
2021 SEPTEMBER
13-MONTH TRENDS $6,400,000 $4,916,730 $3,432,500
9
6
Sep-20
$4,050,000 $2,800,000
9
$2,750,000
11
11
3
1
3
Oct-20
Nov-20
Dec-20
9
$3,385,000
5
Jan-21
$3,795,900
$4,200,000 $3,300,000
$3,082,500
17
14
13
$4,060,000
$4,000,000
14
3
4
4
Feb-21
Mar-21
Apr-21
5
May-21
10
10
11 2
Jun-21
Jul-21
8
7
Aug-21
6
3
Sep-21
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 it's 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 • Mama Terrano
• South Coast Botanic Garden
• Rolling Hills Park Tennis Club • Chicken Maison
• Peter Weber Equestrian Center
• Promenade Ice Chalet
• The Original Red Onion
• The Crepery Cafe
• Rolling Hills Little League
• Giorgio's
• TantaWan Thai Cuisine
MARKET SUMMARY
SEPTEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
39
46
$1.76M
8
$789
118%
2020
88
33
$1.40M
13
$632
38%
PERCENT CHANGE
-56%
+39%
-4%
-38%
+25%
+215%
SEPTEMBER
2021 SEPTEMBER
13-MONTH TRENDS $1,800,000 $1,660,000
$1,550,000 $1,400,000
$1,400,000
$1,407,575
$1,458,000
$1,580,250
$1,755,000
$1,650,000 $1,475,000
$1,444,500 $1,265,000
88
78 52 33
Sep-20
35
39
38 20
Oct-20
Nov-20
Dec-20
7
20
Jan-21
21
19
Feb-21
30
36
Mar-21
43
38
Apr-21
36
30
May-21
33
33
Jun-21
46
37
Jul-21
44
39
Aug-21
39
46
Sep-21
SAN PEDRO San Pedro is a unique and vibrant community that feels like it's 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 Sea festival every summer. 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
SEPTEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
107
63
$715K
10
$484
59%
2020
122
57
$682K
9
$432
47%
PERCENT CHANGE
-12%
+11%
+20%
+11%
+12%
+26%
SEPTEMBER
2021 SEPTEMBER
13-MONTH TRENDS $801,000 $692,500
$682,000 $610,000
128
122
57
Sep-20
$592,500
$780,000
$650,250
$735,000
Oct-20
50
Nov-20
61
72 29
Dec-20
50
Jan-21
$737,500
$729,750
$715,000
$640,000
111 58
$700,000
58
65 41
Feb-21
61
Mar-21
71
89
80
49
56
Apr-21
May-21
69
Jun-21
80
107
97 66
60
63
Jul-21
Aug-21
Sep-21
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, and waterfront attractions as well as 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
• Montoya's
• Terminal Island
• California Yacht Marina
• Issac's Cafe
• Hojas Premium Tea House
• Wilmington Waterfront Park
• John Mendez Baseball Park
• The Chowder Barge
• Eat at Rudy's
MARKET SUMMARY
SEPTEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
14
15
$600K
9
$459
107%
2020
21
7
$540K
7
$395
33%
PERCENT CHANGE
-33%
+114%
+20%
+29%
+16%
+221%
SEPTEMBER
2021 SEPTEMBER
13-MONTH TRENDS $659,000 $540,000
21
$562,500
19 7
Sep-20
$552,500
$540,000
22 13 4
Oct-20
Nov-20
10
$547,500
$600,000
$600,000
$610,000
$600,000
$500,000
20
15
Dec-20
$550,000
$562,000
5
7
Jan-21
10
12
Feb-21
21
12
14
Mar-21
Apr-21
11
15
19
6
May-21
Jun-21
15
19 9
11
Jul-21
Aug-21
14
15
Sep-21
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 1720 S. Elena 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
W E A R E T H E COA S T
Saul Larnerr PH.D.,
LL.M., MBA
D R E # 0 0 82 6 59 1
EXPERIENCE. PASSION. RESULTS. As your luxury agent, you can count on me to utilize years of industry expertise, in-depth local knowledge, and relentless professionalism to exceed your highest expectations. My mission is to bring my years of success and experience to the table to guide you through and help you get the most out of your home sale. I accomplish this by leveraging some of the most cutting edge marketing tools available to agents to get your property maximum market exposure. By working with me, I guarantee you will get top dollar value for your home.
ESTATE PROPERTIES
PRIVATE CLIENT ADVISORS
Certified International Property Specialist | Certified Probate and Trust Specialist
By working with me, I guarantee you will get top dollar value for your home.
ESTATE PROPERTIES
PRIVATE CLIENT ADVISORS
Certified International Property Specialist | Certified Probate and Trust Specialist
Direct: 310.867.4840 www.splarner.realtor
Sold@splarner.realtor
www.zeninspiredhome.com
RE/MAX Estate Properties, 9454 Wilshire Blvd., Suite 600, Beverly Hills, CA 90212