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Vol. III September 2017

Palos Verdes + Harbor

Market Intelligence Report

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Palos Verdes & Harbor real estate market. This report covers Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates and the Harbor areas including San Pedro, Wilmington and Harbor City


700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 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 Phone: 310.577.5300 EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700 HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200

SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999 SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723


Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor cities. This Market Intelligence Report monitors

Palos Verdes Estates

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.

Rancho Palos Verdes

Rolling Hills

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):

Rolling Hills Estates

The average number of days that properties were on ACTIVE on the market.

MONTHS SUPPLY OF INVENTORY:

San Pedro

Wilmington

Harbor City

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.

REPORT NOTES:

Reports published in September 2017 are based on data available at the end of August 2017. All reports presented are based on data supplied by the CRMLS or CLAW and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed.

Photography courtesy of Brian Holm, AvenueEye.com


Palos Verdes Estates August Stats

$1,940,000 Median Sold Price

Year Over Year

August August % 2016 2017 Change

Median Price Average Price Per Sq. Foot

$2,114,000 Average Sold Price

60 Listings for Sale

Listings Pending

$1,940

-10%

$827

$642

-22%

Properties for Sale

68

60 -12%

Properties Pending Sales

8

28 250%

Properties Sold

18

15 -17%

Days on Market (Sold Homes)

74

52 -30%

Monthly Supply of Inventory

3.8 4 5%

Absorption Rate (closed sales)

26.5 25 -6%

$3,000

28

$2,147

Avg. & Median Price by Month

$3,500 $2,500

$2,114

$3,000

$1,940 $2,593

$2,000 $2,500

15 Listings Sold

$1,500 $2,000 $1,655 $1,500 $1,000 $1,000

$500

52 Days On Market

$500 $- $-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average


Rancho Palos Verdes August Stats Year Over Year

August August % 2016 2017 Change

Median Price

$1,090

$1,085

0%

Average Price Per Sq. Foot

$558

$572

3%

Properties for Sale

140

107 -24%

Properties Pending Sales

41

62 51%

Properties Sold

47

49 4%

Days on Market (Sold Homes)

55

31 -44%

Monthly Supply of Inventory

3

2.2 -27%

33.6

45.8 36%

Absorption Rate (closed sales)

$1,600 $3,500

$1,274

$3,000

$1,200

$2,593 $1,085

$2,500 $1,000

$1,500

$800

$1,655

$600

$1,274,000 Average Sold Price

107 Listings for Sale

62 Listings Pending

49 Listings Sold

$1,000 $400 $500 $200

$-

Median Sold Price

Avg. & Median Price by Month

$1,400

$2,000

$1,085,000

$Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average

31 Days On Market


Rolling Hills August Stats

N/A Median Sold Price

N/A Average Sold Price

25 Listings for Sale

Year Over Year Median Price

N/A

N/A

N/A

Average Price Per Sq. Foot

N/A

N/A

N/A

Properties for Sale

26

25 -4%

Properties Pending Sales

2

1 -50%

Properties Sold

2

0 N/A

Days on Market (Sold Homes)

81

N/A N/A

Monthly Supply of Inventory

13

25 92%

Absorption Rate (closed sales)

7.7

0 N/A

$5,000

1 Listings Pending

August August % 2016 2017 Change

Avg. & Median Price by Month

$3,500 $4,500

$4,000 $3,000 $2,593

$3,500 $2,500 $3,000

0 Listings Sold

N/A Days On Market

$2,000 $2,500

$1,655

$2,000 $1,500 $1,500 $1,000 $1,000 $500 $500 $-

$$-

$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017

Median

Average


Rolling Hills Estates August Stats Year Over Year

August August % 2016 2017 Change

Median Price

$951

$1,210

27%

Average Price Per Sq. Foot

$518

$539

4%

Properties for Sale

34

26 -24%

Properties Pending Sales

14

14 0%

Properties Sold

14

17 21%

Days on Market (Sold Homes)

46

52 13%

Monthly Supply of Inventory

2.4

1.5 -38%

Absorption Rate (closed sales)

41.2 65.4 59%

$1,210,000 Median Sold Price

$1,244,000 Average Sold Price

26 Listings for Sale

Avg. & Median Price by Month

$1,600 $3,500 $1,400

$1,244 $3,000 $1,200

$1,210 $2,593

14 Listings Pending

$2,500 $1,000

$2,000

$800 $1,655

$1,500

$600

$1,000

$400

$500

$200

$-

$-

17 Listings Sold

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average

52 Days On Market


San Pedro August Stats

$580,000

Median Sold Price

$633,000 Average Sold Price

111 Listings for Sale

Year Over Year

August August % 2016 2017 Change

Median Price

$475

$580

22%

Average Price Per Sq. Foot

$345

$396

15%

Properties for Sale

150

111 -26%

Properties Pending Sales

58

85 47%

Properties Sold

55

74 35%

Days on Market (Sold Homes)

58

43 -26%

Monthly Supply of Inventory

2.7

1.5 -44%

Absorption Rate (closed sales)

36.7 66.7 82%

Avg. & Median Price by Month

85 Listings Pending

$3,500 $700

$633 $580

$3,000 $600

$2,593 $2,500 $500

74 Listings Sold

43 Days On Market

$400 $2,000 $1,655

$300 $1,500 $200 $1,000 $100 $500 $$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average


Wilmington August Stats Year Over Year

August August % 2016 2017 Change

Median Price

$386

$428

11%

Average Price Per Sq. Foot

$322

$317

-2%

Properties for Sale

22

21 -5%

Properties Pending Sales

19

9 -53%

Properties Sold

14

12 -14%

Days on Market (Sold Homes)

26

13 -50%

Monthly Supply of Inventory

1.6

1.8 13%

Absorption Rate (closed sales)

63.6

57.1 -10%

$428,000

Median Sold Price

$430,000 Average Sold Price

21 Listings for Sale

Avg. & Median Price by Month $500 $3,500 $450

$430

$428

$3,000$400 $2,593

$350 $2,500

9 Listings Pending

$300 $2,000 $250

$1,655

$1,500$200

12 Listings Sold

$150 $1,000 $100 $500

$-

$50 $Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average

13 Days On Market


Harbor City August Stats

$488,000

Median Sold Price

$497,000

Average Sold Price

36 Listings for Sale

19 Listings Pending

Year Over Year

August August % 2016 2017 Change

Median Price

$523

$488

-7%

Average Price Per Sq. Foot

$319

$352

10%

Properties for Sale

26

36 38%

Properties Pending Sales

15

19 27%

Properties Sold

24

18 -25%

Days on Market (Sold Homes)

44

17 -61%

Monthly Supply of Inventory

1.1

2 82%

Absorption Rate (closed sales)

92.3

50 -46%

$700

Avg. & Median Price by Month

$3,500 $600

$497

$3,000 $500

$488 $2,593

$2,500 $400

18 Listings Sold

17 Days On Market

$2,000 $1,655

$300 $1,500

$200 $1,000 $100 $500 $$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 Median

Average


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© 2015-17 RE/MAX Estate Properties


RE/MAX Palos Verdes Market Intelligence Report  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the Palos Verdes & Harbor real es...

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