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Palos Verdes and Harbor Cities Market Intelligence Report Vol. 5 | April 2019 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

RE/MAX Estate Properties 650+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720


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 Apr. 2019 are based on data available at the end of Mar. 2019. 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 MARCH STATS Key Facts:

$2,100,000

Median Sold Price

$1,978,000

Average Sold Price

69

MAR. MAR. % 2018 2019 Change

Median Price (in $,000)

$1,984

$2,100

6%

$731

$726

-1%

Average Price Per Sq. Foot Properties for Sale

51

69 35%

Properties Pending Sales

13

19 46%

Properties Sold

22

15 -32%

Days on Market (Sold Homes)

67

60 -10%

Monthly Supply of Inventory

2.3

4.6 100%

Absorption Rate (closed sales) 43.1

21.7 -50%

Listings for Sale $8,000

19

Listings Pending

AVERAGE & MEDIAN PRICE

$7,000 $3,500 $6,000 $3,000 $5,000

15

Listings Sold

$2,593

$2,500 $4,000 $2,000 $3,000

60

Days On Market

$1,655 $1,978 $2,100

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

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Rancho Palos Verdes MARCH STATS Key Facts:

Median Price (in $,000)

$1,304,000 Median Sold Price

$1,348,000

Average Sold Price

95

Average Price Per Sq. Foot

Listings Pending

MAR. 2019

$1,250

$1,304

4%

$536

$571

7%

% Change

Properties for Sale

80

95 19%

Properties Pending Sales

52

46 -12%

Properties Sold

39

40 3%

Days on Market (Sold Homes) 37

69 86%

Monthly Supply of Inventory

2.4 14%

2.1

Absorption Rate (closed sales) 48.8 42.1 -14%

Listings for Sale

46

MAR. 2018

AVERAGE & MEDIAN PRICE $1,600 $1,348

$3,500 $1,400

$1,304

$1,200 $3,000

40

Listings Sold

$2,593

$1,000

$2,500

$800

$2,000 $600

69

Days On Market

$1,655

$1,500

$400

$1,000 $200 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Rolling Hills MARCH STATS Key Facts:

$1,995,000

Median Sold Price

$1,995,000

Average Sold Price

15

MAR. MAR. % 2018 2019 Change

Median Price (in $,000)

$2,063

$1,995

-3%

$616

$827

34%

Average Price Per Sq. Foot Properties for Sale

25

15 -40%

Properties Pending Sales

2

4 100%

Properties Sold

2

2 0%

Days on Market (Sold Homes)

127

65 -49%

Monthly Supply of Inventory

12.5

7.5 -40%

8

13.3 66%

Absorption Rate (closed sales)

Listings for Sale

4

Listings Pending

AVERAGE & MEDIAN PRICE $18,000

$3,500 $16,000

$3,000 $14,000

2

Listings Sold

$2,593

$12,000

$2,500

$10,000

$2,000 $8,000 $1,655 $6,000

65

Days On Market

$1,500

$4,000

$1,995 $1,995

$1,000 $2,000 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Rolling Hills Estates MARCH STATS Key Facts:

$1,151,000 Median Sold Price

$1,438,000

Average Sold Price

24

MAR. 2018

Listings Pending

% Change

Median Price (in $,000)

$1,570

$1,151

-27%

Average Price Per Sq. Foot

$536

$632

18%

Properties for Sale

18

24 33%

Properties Pending Sales

12

13 8%

Properties Sold

10

10 0%

Days on Market (Sold Homes) 46

77 67%

Monthly Supply of Inventory

1.8

2.4 33%

Absorption Rate (closed sales) 55.6

41.7 -25%

Listings for Sale

13

MAR. 2019

AVERAGE & MEDIAN PRICE $2,500

$3,500 $2,000

$3,000

10

$1,438

$1,500 $2,500

Listings Sold

$2,593

$1,151

$2,000

$1,000

77

Days On Market

$1,655

$1,500 $500

$1,000 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


San Pedro MARCH STATS Key Facts:

$545,000

Median Sold Price

$567,000

Average Sold Price

MAR. MAR. % 2018 2019 Change

Median Price (in $,000)

$591

$545

-8%

Average Price Per Sq. Foot

$419

$408

-3%

Properties for Sale

55

81 47%

Properties Pending Sales

51

50 -2%

Properties Sold

54

38 30%

Days on Market (Sold Homes)

35

42 20%

1

2.1 110%

Absorption Rate (closed sales) 98.2

46.9 -52%

Monthly Supply of Inventory

81

Listings for Sale

50

Listings Pending

AVERAGE & MEDIAN PRICE $640

$3,500 $620

$600 $3,000

38

Listings Sold

$567

$2,593

$580

$2,500 $560 $545 $540 $2,000

$1,655

$520

42

Days On Market

$1,500 $500

$1,000 $480 $460

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Wilmington MARCH STATS Key Facts:

$513,000 Median Sold Price

$492,000

Average Sold Price

13

MAR. 2018

Listings Pending

% Change

Median Price (in $,000)

$460

$513

12%

Average Price Per Sq. Foot

$332

$341

3%

Properties for Sale

15

13 -13%

Properties Pending Sales

10

12 20%

Properties Sold

16

10 -38%

Days on Market (Sold Homes) 63

55 -13%

Monthly Supply of Inventory

1.3 44%

0.9

Absorption Rate (closed sales) 106.7 76.9 -28%

Listings for Sale

12

MAR. 2019

AVERAGE & MEDIAN PRICE $600

$3,500

$492

$513

$500

$3,000 $400

10

Listings Sold

$2,593

$2,500 $300

$2,000 $1,655

$200

55

Days On Market

$1,500 $100

$1,000 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Harbor City MARCH STATS Key Facts:

$405,000

Median Sold Price

$512,000

Average Sold Price

23

Median Price (in $,000)

$541

$405

-25%

Average Price Per Sq. Foot

$357

$375

5%

Properties for Sale

12

23 92%

Properties Pending Sales

17

16 -6%

Properties Sold

16

7 -56%

Days on Market (Sold Homes)

37

40 8%

Monthly Supply of Inventory

0.8

3.3 313%

Absorption Rate (closed sales) 133.3 30.4 -77%

Listings for Sale

16

Listings Pending

MAR. MAR. % 2018 2019 Change

AVERAGE & MEDIAN PRICE $700

$3,500

$512

$600

$3,000 $500

7

Listings Sold

$2,593 $405

$400 $2,500

$300 $2,000

$1,655

40

Days On Market

$200

$1,500

$100

$1,000 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


RE/MAX Estate Properties • 650+ Local Agents • 16 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277

SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

EL SEGUNDO 402 Main Street El Segundo, CA 90245

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

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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...