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Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | August 2018 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community

THIS SALES MONTHLY REPORT MONITORS Palos Verdes Estates

Rolling Hills Estates

Palos Verdes Peninsula

San Pedro

Rancho Palos Verdes

Harbor City

Rolling Hills

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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 August 2018 are based on data available at the end of July 2018. 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 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........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8 Wilmington.......................................................................9 Harbor City .....................................................................10


Palos Verdes Estates JULY STATS Key Facts:

$1,742,000

Median Sold Price

$1,996,000

Average Sold Price

57

JULY JULY % 2017 2018 Change

Median Price

$1,775

$1,742

-2%

Average Price Per Sq. Foot

$810

$708

-13%

Properties for Sale

68

57 -16%

Properties Pending Sales

23

13 -43%

Properties Sold

15

24 60%

Days on Market (Sold Homes)

24

39 63%

Monthly Supply of Inventory

4.5

2.4 -47%

Absorption Rate (closed sales) 22.1

42.1 90%

Listings for Sale

13

Listings Pending

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

$2,500 $3,000

24

$1,996 $2,593 $2,500 $2,000

$1,742

Listings Sold $2,000 $1,500

39

Days On Market

$1,655

$1,500

$1,000 $1,000

$500 $500

$- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Rancho Palos Verdes JULY STATS Key Facts:

$1,232,000 Median Sold Price

$1,198,000

Average Sold Price

131

JULY JULY 2017 2018

Median Price

$1,340

$1,232

-8%

Average Price Per Sq. Foot

$560

$609

9%

Properties for Sale

124 131 6%

Properties Pending Sales

46

43 -7%

Properties Sold

63

42 -33%

Days on Market (Sold Homes) 38

24 -37%

Monthly Supply of Inventory

2

3.1 55%

Absorption Rate (closed sales) 50.8

32.1 -37%

Listings for Sale

43

Listings Pending

42

Listings Sold

% Change

AVERAGE & MEDIAN PRICE $1,600 $3,500 $1,400 $3,000

$1,198 $1,232

$1,200 $2,500

$2,593

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

$800

24

Days On Market

$1,500

$600 $1,000 $400 $500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Rolling Hills JULY STATS Key Facts:

NA

Median Sold Price

NA

Average Sold Price

35

JULY JULY % 2017 2018 Change

Median Price

$4,275

NA

NA

$887

NA

NA

Average Price Per Sq. Foot Properties for Sale

27

Properties Pending Sales

0

1 NA

Properties Sold

3

0 NA

Days on Market (Sold Homes)

35

NA NA

Monthly Supply of Inventory

9

35 289%

Absorption Rate (closed sales)

11.1

NA NA

Listings for Sale

1

Listings Pending

35 30%

AVERAGE & MEDIAN PRICE $4,500 $3,500 $4,000 $3,000 $3,500

0

Listings Sold

$2,593

$2,500 $3,000 $2,000 $2,500 $1,655

NA

Days On Market

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

$$-

$-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Rolling Hills Estates JULY STATS Key Facts:

$925,000 Median Sold Price

$1,285,000

Average Sold Price

25

JULY JULY 2017 2018

Median Price

$1,309

$925

-29%

$597

$588

-2%

Average Price Per Sq. Foot Properties for Sale

32

25 -22%

Properties Pending Sales

16

13 -19%

Properties Sold

12

12 0%

Days on Market (Sold Homes) 33

35 6%

Monthly Supply of Inventory

2.1 -22%

Listings Pending

2.7

Absorption Rate (closed sales) 37.5 48 28%

Listings for Sale

13

AVERAGE & MEDIAN PRICE $1,800 $3,500 $1,600 $3,000 $1,400

12

Listings Sold

$1,285

Days On Market

$2,593

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

35

% Change

$925 $1,655

$800 $1,500 $600 $1,000 $400 $500 $200 $- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


San Pedro JULY STATS Key Facts:

$567,000

Median Sold Price

$575,000

Average Sold Price

88

Median Price

$542

$567

5%

Average Price Per Sq. Foot

$414

$395

-5%

Properties for Sale

109

88 -19%

Properties Pending Sales

65

62 -5%

Properties Sold

61

60 -2%

Days on Market (Sold Homes)

28

28 0%

Monthly Supply of Inventory

1.8

1.5 -17%

Absorption Rate (closed sales)

56

68.2 22%

Listings for Sale

62

Listings Pending

JULY JULY % 2017 2018 Change

AVERAGE & MEDIAN PRICE $3,500 $700

$575

$3,000 $600

60

Listings Sold

$567 $2,593

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

28

Days On Market

$1,655

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

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Wilmington JULY STATS Key Facts:

$425,000 Median Sold Price

$413,000

Average Sold Price

21

JULY JULY 2017 2018

Median Price

$440

$425

-3%

Average Price Per Sq. Foot

$324

$366

13%

Properties for Sale

14

21 50%

Properties Pending Sales

12

13 8%

Properties Sold

14

11 -21%

Days on Market (Sold Homes) 22

45 105%

Monthly Supply of Inventory

1

1.9 90%

Absorption Rate (closed sales) 100

52.4 -48%

Listings for Sale

13

Listings Pending

% Change

AVERAGE & MEDIAN PRICE $480 $3,500 $470 $3,000 $460

11

Listings Sold

$2,593

$450 $2,500 $440 $2,000 $430

45

Days On Market

$425$1,655

$1,500 $420

$413

$410 $1,000 $400 $500 $390 $$380

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Harbor City JULY STATS Key Facts:

$475,000

Median Sold Price

$499,000

Average Sold Price

21

Median Price

$453

$475

5%

Average Price Per Sq. Foot

$334

$372

11%

Properties for Sale

30

21 -30%

Properties Pending Sales

13

20 54%

Properties Sold

17

14 -18%

Days on Market (Sold Homes)

44

31 -30%

Monthly Supply of Inventory

1.8

1.5 -17%

Absorption Rate (closed sales) 56.7 66.7 18%

Listings for Sale

20

Listings Pending

14

JULY JULY % 2017 2018 Change

AVERAGE & MEDIAN PRICE $600

$499

$3,500

$500 $3,000

$475 $2,593

$400 $2,500

Listings Sold $2,000 $300

31

Days On Market

$1,655

$1,500

$200 $1,000

$100 $500

$- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


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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...

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...