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Vol. 6 | November 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 November 2020 are based on data available at the end of October 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 OCTOBER STATS Key Facts:

OCTOBER

2019

Median Price (in $1,000)

$2,030,000

Median Sold Price

$2,363,000

Average Sold Price

47

Average Price Per Sq. Foot

Listings Pending

21

Listings Sold

2020

Change

$1,645

$2,030

23%

$758

$819

8%

Properties for Sale

69

47 -32%

Properties Pending Sales

13

19 46%

Properties Sold

12

21 75%

Days on Market (Sold Homes)

57

52 -9%

Monthly Supply of Inventory

5.8

2.2 -62%

Absorption Rate (Closed Sales) 17.4

44.7 157%

Listings for Sale

19

OCTOBER %

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

$2,363 $2,593

$2,500 $2,500

$2,030

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

52

Days On Market

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

$500 $500 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rancho Palos Verdes OCTOBER STATS Key Facts:

$1,450,000 Median Sold Price

$1,535,000

Average Sold Price

60

Listings Pending

2019

Listings Sold

Days On Market

Change

$1,450

23%

Average Price Per Sq. Foot

$584

$597

2%

Properties for Sale

127

60 -53%

Properties Pending Sales

42

55 31%

Properties Sold

43

51 19%

Days on Market (Sold Homes)

48

45 -6%

Monthly Supply of Inventory

3

1.2 -60%

Absorption Rate (Closed Sales) 33.9 85 151%

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

$1,535

$1,800

$1,450 $2,593

$1,400 $2,500 $1,200 $2,000

$1,655

$1,000

45

2020

$1,175

$3,000 $1,600

51

OCTOBER %

Median Price (in $1,000)

Listings for Sale

55

OCTOBER

$1,500 $800 $600 $1,000 $400 $500 $200 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rolling Hills OCTOBER STATS Key Facts:

$2,800,000

Median Sold Price

$2,729,000

Average Sold Price

OCTOBER

2019

Listings Pending

$2,800

7%

Average Price Per Sq. Foot

$883

$799

-10%

Properties for Sale

20

15 -25%

Properties Pending Sales

4

0 -100%

Properties Sold

2

3 50%

350

37 -89%

10

5 -50%

Days on Market (Sold Homes)

Absorption Rate (Closed Sales) 10

Listings Sold

$5,000 $3,500 $4,500 $2,729 $2,593 $2,800

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

37

Days On Market

20 100%

AVERAGE & MEDIAN PRICE

$3,000 $4,000

3

Change

$2,613

Listings for Sale

0

2020

Median Price (in $1,000)

Monthly Supply of Inventory

15

OCTOBER %

$1,655

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

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rolling Hills Estates OCTOBER STATS Key Facts:

$1,550,000 Median Sold Price

$1,739,000

Average Sold Price

40

Listings Pending

2019

Listings Sold

Days On Market

Change

$1,550

38%

Average Price Per Sq. Foot

$590

$639

8%

Properties for Sale

64

40 -38%

Properties Pending Sales

41

44 7%

Properties Sold

31

35 13%

Days on Market (Sold Homes)

39

34 -13%

Monthly Supply of Inventory

2.1

1.1 -48%

Absorption Rate (Closed Sales) 48.4 87.5 81%

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

$1,739

$1,800 $1,550 $2,593

$1,400 $2,500 $1,200 $2,000 $1,000

34

2020

$1,120

$3,000 $1,600

35

OCTOBER %

Median Price (in $1,000)

Listings for Sale

44

OCTOBER

$1,655

$1,500 $800 $600 $1,000 $400 $500 $200 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


San Pedro OCTOBER STATS Key Facts:

$610,000

Median Sold Price

$652,000

Average Sold Price

56

Listings Pending

2019

Listings Sold

Days On Market

Change

$610

7%

Average Price Per Sq. Foot

$419

$488

16%

Properties for Sale

93

56 -40%

Properties Pending Sales

49

56 14%

Properties Sold

48

58 21%

Days on Market (Sold Homes)

37

21 -43%

Monthly Supply of Inventory

1.9

1 -47%

Absorption Rate (Closed Sales) 51.6

103.6 101%

AVERAGE & MEDIAN PRICE $3,500 $800 $652 $610 $2,593

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

$1,655

$400

21

2020

$570

$3,000 $700

58

OCTOBER %

Median Price (in $1,000)

Listings for Sale

56

OCTOBER

$1,500 $300 $1,000 $200 $500 $100 $-$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Wilmington OCTOBER STATS Key Facts:

$563,000 Median Sold Price

$536,000

Average Sold Price

12

Listings Pending

2019

OCTOBER %

2020

Change

Median Price (in $1,000)

$515

$563

9%

Average Price Per Sq. Foot

$341

$370

9%

Properties for Sale

27

12 -56%

Properties Pending Sales

15

11 -27%

Properties Sold

8

13 63%

Days on Market (Sold Homes)

13

17 31%

Monthly Supply of Inventory

3.4

0.9 -74%

Absorption Rate (Closed Sales) 29.6

Listings for Sale

11

OCTOBER

108.3 266%

AVERAGE & MEDIAN PRICE $536 $563

$600 $3,500 $500 $3,000

13

Listings Sold

$2,593 $2,500 $400 $2,000 $300

17

Days On Market

$1,655

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

$-$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Harbor City OCTOBER STATS Key Facts:

$583,000

Median Sold Price

$592,000

Average Sold Price

16

Listings Pending

2019

Listings Sold

Days On Market

Change

$583

-7%

Average Price Per Sq. Foot

$375

$409

9%

Properties for Sale

31

16 -48%

Properties Pending Sales

27

17 -37%

Properties Sold

21

20 -5%

Days on Market (Sold Homes)

29

22 -24%

Monthly Supply of Inventory

1.5

0.8 -47%

Absorption Rate (Closed Sales) 67.7 125 85%

AVERAGE & MEDIAN PRICE $800 $3,500 $700

$592 $583 $2,593

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

22

2020

$625

$3,000 $600

20

OCTOBER %

Median Price (in $1,000)

Listings for Sale

17

OCTOBER

$1,655

$1,500 $300 $1,000 $200 $500 $100 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 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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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...