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Vol. 6 | July 2020

Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities

RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International DRE #00983568, 01219939, 01879720


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 Palos Verdes Estates........................................................3 Rancho Palos Verdes........................................................4 Rolling Hills.......................................................................5 Rolling Hills Estates .........................................................6 San Pedro.........................................................................7 Wilmington.......................................................................8 Harbor City .......................................................................9


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 July 2020 are based on data available at the end of June 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.


Palos Verdes Estates JUNE STATS Key Facts:

$1,900,000

Median Sold Price

$2,049,000

Average Sold Price

63

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$1,949

$1,900

-3%

$727

$718

-1%

Average Price Per Sq. Foot Properties for Sale

90

63 -30%

Properties Pending Sales

21

18 -14%

Properties Sold

16

13 -19%

Days on Market (Sold Homes)

34

74 118%

Monthly Supply of Inventory

5.6

4.8 -14%

Absorption Rate (Closed Sales) 17.8 20.6 16%

Listings for Sale

18

Listings Pending

AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,500 $3,000

13

$2,049 $2,593

$1,900

$2,500 $2,000

Listings Sold $2,000 $1,500

74

Days On Market

$1,655

$1,500 $1,000 $1,000

$500 $500

$$-

Median

Average


Rancho Palos Verdes JUNE STATS Key Facts:

$1,312,000 Median Sold Price

$1,514,000

Average Sold Price

90

JUNE 2019

JUNE 2020

Median Price (in $1,000)

$1,285

$1,312

2%

Average Price Per Sq. Foot

$586

$608

4%

Properties for Sale

149

90 -40%

Properties Pending Sales

42

54 29%

Properties Sold

41

40 -2%

Days on Market (Sold Homes)

31

54 74%

Monthly Supply of Inventory

3.6

2.3 -36%

Absorption Rate (Closed Sales) 27.5 44.4 61%

Listings for Sale

54

Listings Pending

% Change

AVERAGE & MEDIAN PRICE $1,514

$1,600

$3,500

$1,312

$1,400 $3,000

$1,200

40

Listings Sold

$2,593

$2,500

$1,000 $2,000

$800

54

Days On Market

$1,655

$1,500 $600

$400 $1,000 $200 $500 $-

$-

Median

Average


Rolling Hills JUNE STATS Key Facts:

$4,275,000

Median Sold Price

$4,275,000

Average Sold Price

14

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$2,289

$4,275

87%

$968

$939

-3%

Average Price Per Sq. Foot Properties for Sale

16

14 -13%

Properties Pending Sales

2

3 50%

Properties Sold

1

1 0%

Days on Market (Sold Homes)

0

77 N/A

Monthly Supply of Inventory

16

14 -13%

Absorption Rate (Closed Sales) 6.3

Listings for Sale

3

Listings Pending

7.1 13%

AVERAGE & MEDIAN PRICE $4,275

$4,500

$4,275

$3,500

$4,000

$3,000 $3,500

1

Listings Sold

$2,593

$3,000

$2,500

$2,500 $2,000

$2,000

77

Days On Market

$1,655

$1,500

$1,500

$1,000 $1,000

$500

$500

$$-

Median

Average


Rolling Hills Estates JUNE STATS Key Facts:

$1,280,000 Median Sold Price

$1,657,000

Average Sold Price

63

JUNE 2019

JUNE 2020

Median Price (in $1,000)

$1,298

$1,280

-1%

Average Price Per Sq. Foot

$596

$653

10%

Properties for Sale

88

63 -28%

Properties Pending Sales

23

40 74%

Properties Sold

28

15 -46%

Days on Market (Sold Homes)

37

30 -19%

Monthly Supply of Inventory

3.1

4.2 35%

Absorption Rate (Closed Sales) 31.8

23.8 -25%

Listings for Sale

40

Listings Pending

% Change

AVERAGE & MEDIAN PRICE $1,657

$1,800 $3,500

$1,600 $3,000

$1,400

15

Listings Sold

$1,280

$2,593 $2,500 $1,200

$1,000 $2,000

$1,655

$800

30

Days On Market

$1,500

$600 $1,000 $400

$200 $500 $$-

Median

Average


San Pedro JUNE STATS Key Facts:

$598,000

Median Sold Price

$650,000

Average Sold Price

78

Median Price (in $1,000)

$601

$598

0%

Average Price Per Sq. Foot

$427

$459

7%

Properties for Sale

100

78 -22%

Properties Pending Sales

54

63 17%

Properties Sold

48

36 -25%

Days on Market (Sold Homes)

31

23 -26%

Monthly Supply of Inventory

2.1

2.2 5%

Absorption Rate (Closed Sales) 48

Listings for Sale

63

Listings Pending

JUNE JUNE % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,500 $800

$650

$700 $3,000

36

Listings Sold

23

Days On Market

46.2 -4%

$598 $2,593

$600 $2,500 $500 $2,000 $400

$1,655

$1,500 $300 $1,000 $200

$100 $500 $$-

Median

Average


Wilmington JUNE STATS Key Facts:

$445,000 Median Sold Price

$476,000

Average Sold Price

14

Listings Pending

% Change

$472

$445

-6%

Average Price Per Sq. Foot

$299

$376

26%

Properties for Sale

24

14 -42%

Properties Pending Sales

19

15 -21%

Properties Sold

7

11 57%

Days on Market (Sold Homes)

24

45 88%

Monthly Supply of Inventory

3.4

1.3 -62%

Absorption Rate (Closed Sales) 29.2

78.6 169%

AVERAGE & MEDIAN PRICE $600 $3,500

$476

$500 $3,000

11

JUNE 2020

Median Price (in $1,000)

Listings for Sale

15

JUNE 2019

$445 $2,593

$2,500 $400

Listings Sold $2,000 $300

45

Days On Market

$1,655

$1,500 $200 $1,000

$100 $500

$$-

Median

Average


Harbor City JUNE STATS Key Facts:

$593,000

Median Sold Price

$582,000

Average Sold Price

20

Median Price (in $1,000)

$615

$593

-4%

Average Price Per Sq. Foot

$388

$343

-12%

Properties for Sale

27

20 -26%

Properties Pending Sales

23

16 -30%

Properties Sold

11

10 -9%

Days on Market (Sold Homes)

46

9 -80%

Monthly Supply of Inventory

2.5

2 -20%

Absorption Rate (Closed Sales) 40.7 50 23%

Listings for Sale

16

Listings Pending

JUNE JUNE % 2019 2020 Change

AVERAGE & MEDIAN PRICE $800 $3,500

$582

$700

$593

$3,000

$600

10

Listings Sold

$2,593 $2,500 $500 $2,000 $400 $1,655

9

Days On Market

$300 $1,500 $200

$1,000

$100 $500 $$-

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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RE/MAX Estate Properties 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...

RE/MAX Estate Properties 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...