__MAIN_TEXT__

Page 1

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

$2,750,000

Median Sold Price

$2,842,000

Average Sold Price

39

Listings Pending

11

Listings Sold

2019

2020

Change

Median Price (in $1,000)

$1,765

$2,750

56%

Average Price Per Sq. Foot

$764

$774

1%

Properties for Sale

62

39 -37%

Properties Pending Sales

15

15 0%

Properties Sold

12

11 -8%

Days on Market (Sold Homes)

42

71 69%

Monthly Supply of Inventory

5.2

3.5 -33%

Absorption Rate (Closed Sales) 19.4

28.2 45%

Listings for Sale

15

NOVEMBER NOVEMBER %

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

$2,842 $2,750

$3,000 $3,000

$2,593

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

$1,655

71

Days On Market

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

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

Average


Rancho Palos Verdes NOVEMBER STATS Key Facts:

NOVEMBER NOVEMBER %

2019

2020

Change

$1,220

$1,350

11%

Average Price Per Sq. Foot

$537

$586

9%

Properties for Sale

108

63 -42%

Properties Pending Sales

37

48 30%

Properties Sold

42

52 24%

Days on Market (Sold Homes)

43

27 -37%

Monthly Supply of Inventory

2.6

1.2 -54%

Median Price (in $1,000)

$1,350,000 Median Sold Price

$1,280,000

Average Sold Price

63

Absorption Rate (Closed Sales) 38.9 82.5 112%

Listings for Sale

48

Listings Pending

AVERAGE & MEDIAN PRICE $2,000 $3,500 $1,800 $3,000 $1,600

52

Listings Sold

$1,280 $1,350 $2,593

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

$1,655

$1,000

27

Days On Market

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

Average


Rolling Hills NOVEMBER STATS Key Facts:

$6,400,000

Median Sold Price

$6,400,000

Average Sold Price

15

Listings Pending

2019

Median Price (in $1,000)

$2,100

Average Price Per Sq. Foot

$1,041

2020

Change

$6,400 205% $1,133

9%

Properties for Sale

19

15 -21%

Properties Pending Sales

1

4 300%

Properties Sold

1

1 0%

Days on Market (Sold Homes)

14

22 57%

Monthly Supply of Inventory

19

15 -21%

Absorption Rate (Closed Sales) 5.3

6.7 26%

Listings for Sale

4

NOVEMBER NOVEMBER %

AVERAGE & MEDIAN PRICE $6,400

$7,000

$6,400

$3,500 $6,000 $3,000

1

Listings Sold

$2,593

$5,000 $2,500 $4,000 $2,000

$1,655

22

Days On Market

$3,000 $1,500 $2,000 $1,000 $1,000 $500 $-

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

Average


Rolling Hills Estates NOVEMBER STATS Key Facts:

$1,400,000 Median Sold Price

$1,505,000

Average Sold Price

31

Listings Pending

2019

Listings Sold

$1,400

8%

Average Price Per Sq. Foot

$600

$611

2%

Properties for Sale

56

31 -45%

Properties Pending Sales

29

28 -3%

Properties Sold

42

39 -7%

Days on Market (Sold Homes)

35

50 43%

Monthly Supply of Inventory

1.3

0.8 -38%

Absorption Rate (Closed Sales) 75

125.8 68%

AVERAGE & MEDIAN PRICE $2,000 $3,500 $1,800 $1,505 $2,593 $1,400

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

50

Days On Market

Change

$1,293

$3,000 $1,600

39

2020

Median Price (in $1,000)

Listings for Sale

28

NOVEMBER NOVEMBER %

$1,655

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

Average


San Pedro NOVEMBER STATS Key Facts:

$693,000

Median Sold Price

$707,000

Average Sold Price

50

Listings Pending

2019

2020

Change

Median Price (in $1,000)

$635

$693

9%

Average Price Per Sq. Foot

$400

$438

10%

Properties for Sale

79

50 -37%

Properties Pending Sales

46

59 28%

Properties Sold

36

50 39%

Days on Market (Sold Homes)

41

22 -46%

Monthly Supply of Inventory

2.2

1 -55%

Absorption Rate (Closed Sales) 45.6 100 119%

Listings for Sale

59

NOVEMBER NOVEMBER %

AVERAGE & MEDIAN PRICE $3,500 $800

$707 $693

$3,000 $700

50

Listings Sold

$2,593

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

$1,655

$400

22

Days On Market

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

Average


Wilmington NOVEMBER STATS Key Facts:

$575,000 Median Sold Price

$575,000

Average Sold Price

15

2019

2020

Change

Median Price (in $1,000)

$500

$575

15%

Average Price Per Sq. Foot

$363

$430

18%

Properties for Sale

27

15 -44%

Properties Pending Sales

13

11 -15%

Properties Sold

13

3 -77%

Days on Market (Sold Homes)

43

17 -60%

Monthly Supply of Inventory

2.1

5 138%

Absorption Rate (Closed Sales) 48.1

20 -58%

Listings for Sale

11

Listings Pending

NOVEMBER NOVEMBER %

AVERAGE & MEDIAN PRICE $700 $3,500

$575

$600 $3,000

3

Listings Sold

$575 $2,593

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

$1,655

17

Days On Market

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

$500 $100

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

Average


Harbor City NOVEMBER STATS Key Facts:

$585,000

Median Sold Price

$586,000

Average Sold Price

13

Listings Pending

2019

Listings Sold

$585

6%

Average Price Per Sq. Foot

$357

$398

11%

Properties for Sale

23

13 -43%

Properties Pending Sales

17

15 -12%

Properties Sold

28

18 -36%

Days on Market (Sold Homes)

46

21 -54%

Monthly Supply of Inventory

0.8

0.7 -13%

Absorption Rate (Closed Sales) 121.7 138.5 14%

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

$586 $585 $2,593

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

21

Days On Market

Change

$550

$3,000 $600

18

2020

Median Price (in $1,000)

Listings for Sale

15

NOVEMBER NOVEMBER %

$1,655

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


CONNECT WITH US f REMAXEstateProperties

z EPLAHomes t remaxepla

i RE/MAX Estate Properties c REMAXEPLA

© 2015-19 RE/MAX Estate Properties

Profile for RE/MAX Estate Properties

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...