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Vol. III November 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 November 2017 are based on data available at the end of October 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 October Stats

$1,600,000 Median Sold Price

Year Over Year

Oct. Oct. 2016 2017

Median Price Average Price Per Sq. Foot

$1,836,000 Average Sold Price

50 Listings for Sale

Listings Pending

$2,085

$1,600

-23%

$676

$758

12%

Properties for Sale

54

50 -7%

Properties Pending Sales

16

16 0%

Properties Sold

13

12 -8%

Days on Market (Sold Homes)

76

58 -24%

Monthly Supply of Inventory

4.2 4.2 0%

Absorption Rate (closed sales)

24.1 24 0%

$3,000

16

% Change

Avg. & Median Price by Month

$3,500

$2,500 $3,000

$1,836

$2,000 $2,500

$2,593

$1,600

12 Listings Sold

58

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

$500 $500 $- $-

Days On Market Median

Average


Rancho Palos Verdes October Stats Year Over Year

Oct. Oct. 2016 2017

Median Price

% Change

$1,250

$1,265

1%

Average Price Per Sq. Foot

$507

$550

8%

Properties for Sale

117

109 -7%

Properties Pending Sales

53

43 -19%

Properties Sold

49

45 -8%

Days on Market (Sold Homes)

61

43 -30%

Monthly Supply of Inventory

2.4

2.4 0%

Absorption Rate (closed sales)

41.9

41.3 -1%

$1,265,000 Median Sold Price

$1,340,000 Average Sold Price

109 Listings for Sale

Avg. & Median Price by Month $3,500$1,600

$1,340 $3,000$1,400

$1,265 $2,593

$1,200 $2,500

43 Listings Pending

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

$800 $1,500

$1,000

$600

Listings Sold

$400

$500 $200

$-

45 43

$-

Days On Market Median

Average


Rolling Hills October Stats

$3,060,000 Median Sold Price

Year Over Year

Oct. Oct. 2016 2017

Median Price Average Price Per Sq. Foot

$3,060,000 Average Sold Price

24 Listings for Sale

% Change

$2,550

$3,060

20%

$872

$578

-34%

Properties for Sale

27

24 -11%

Properties Pending Sales

2

4 100%

Properties Sold

3

2 -33%

Days on Market (Sold Homes)

104

61 -41%

Monthly Supply of Inventory

9

12 33%

11.1

8.3 -25%

Absorption Rate (closed sales)

Avg. & Median Price by Month

4 Listings Pending

$3,500$5,000

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

$2,593

$3,060

$2,500$3,500

$3,060

2 Listings Sold

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

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

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

61

$500

$-

$500 $-

Days On Market Median

Average


Rolling Hills Estates October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$728

$868

19%

Average Price Per Sq. Foot

$491

$462

-6%

Properties for Sale

28

27 -4%

Properties Pending Sales

12

4 -67%

Properties Sold

8

8 0%

Days on Market (Sold Homes)

63

18 -71%

Monthly Supply of Inventory

3.5

3.4 -3%

Absorption Rate (closed sales)

28.6 29.6 3%

$1,600

$868,000 Median Sold Price

$933,000 Average Sold Price

27 Listings for Sale

Avg. & Median Price by Month

4

$3,500 $1,400 $3,000 $1,200 $2,593 $2,500 $1,000

Listings Pending

$933 $868

$2,000 $800

$1,655

$1,500 $600

8 Listings Sold

$1,000 $400

$200 $500

18

$- $-

Days On Market Median

Average


San Pedro October Stats

$530,000

Median Sold Price

$544,000 Average Sold Price

71 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$615

$530

-14%

Average Price Per Sq. Foot

$370

$404

9%

Properties for Sale

116

71 -39%

Properties Pending Sales

46

60 30%

Properties Sold

42

61 45%

Days on Market (Sold Homes)

61

27 -56%

Monthly Supply of Inventory

2.8

1.2 -57%

Absorption Rate (closed sales)

36.2

85.9 137%

Avg. & Median Price by Month

60 Listings Pending

$3,500

$700 $3,000 $600

$544 $530 $2,593

$2,500 $500

61 Listings Sold

27

$2,000 $400

$1,655

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

$100 $500 $- $-

Days On Market Median

Average


Wilmington October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$355

$425

20%

Average Price Per Sq. Foot

$263

$325

24%

Properties for Sale

21

28 33%

Properties Pending Sales

9

11 22%

Properties Sold

11

12 9%

Days on Market (Sold Homes)

38

35 -8%

Monthly Supply of Inventory

1.9

2.3 21%

Absorption Rate (closed sales)

52.4

42.9 -18%

$425,000

Median Sold Price

$449,000 Average Sold Price

28 Listings for Sale

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

$449

$450 $3,000 $400

$425 $2,593

11 Listings Pending

$2,500$350

$300 $2,000 $1,655

$250 $1,500$200

12 Listings Sold

$150 $1,000 $100 $500

$-

$50

35

$-

Days On Market Median

Average


Harbor City October Stats

$500,000

Median Sold Price

$500,000

Average Sold Price

28 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$495

$500

1%

Average Price Per Sq. Foot

$295

$330

12%

Properties for Sale

26

28 8%

Properties Pending Sales

15

17 13%

Properties Sold

16

21 31%

Days on Market (Sold Homes)

45

40 -11%

Monthly Supply of Inventory

1.6

1.3 -19%

Absorption Rate (closed sales)

61.5 75 22%

$700

17

Oct. Oct. 2016 2017

Avg. & Median Price by Month

$3,500

$500

$600 $3,000

$500

$500

$2,593

$2,500

21 Listings Sold

40

$400 $2,000 $1,655

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

Days On Market 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...