Cookie Lorenzo & Anya Jensen South Bay Q2 2022

Q2 Market Report 2022

SOUTH BAY

Quarterly Intelligence Report Quarterly Market Intelligence Report For All Your South Bay and Palos Verdes Real Estate Needs 1st Quarter 2022 2nd Quarter 2022

COOKIE LORENZO ANYA JENSEN 310-418-2094

323-719-4781

CookieLorenzoRE@gmail.com

AnyaNorthup@gmail.com

DRE# 00971609

DRE# 01983103

SOUTH BAY MARKETS Carson

4

El Segundo

6

Gardena

8

Hawthorne

10

Hermosa Beach

12

Hollywood Riviera

14

Lawndale

16

Lomita

18

Manhattan Beach

20

Redondo Beach

22

Torrance

24

REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.

PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.

PROPERTIES FOR SALE: The total number of available properties for sale.

DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.

SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from the previous month exceed current inventory.

The South Bay Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.

CARSON Located just 13 miles south of downtown Los Angeles, Carson is the newest incorporated city in the South Bay region. Carson is home to California State University, Dominguez Hills. With more than 120 acres of green space dedicated to outdoor recreation and an expansive sports complex for soccer, tennis, and track and field, Carson offers plentiful opportunities to soak in the California sunshine.

Bordered by West Rancho Dominguez, Compton, Rancho Dominguez, and Long Beach, Carson residents enjoy close proximity to South Bay beaches and industrial and tech hubs while offering a warm and inviting suburban lifestyle.

ATTRACTIONS •

Carson Park

•

Dignity Health Sports Park

•

International Printing Museum

RESTAURANTS •

Gnome Village

•

Rosario's Italian Restaurant

•

Darrow's New Orleans Grill

•

Go Kart World

•

Chinollo

•

Back Home in Lahaina

•

Anderson Park

•

Hiccups Tea House

•

Orleans & York Deli

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

213

118

$786K

10

$503

55%

156

137

$673K

7

$442

88%

+37%

-14%

+17%

+38%

+14%

-37%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $830,000

$705,000 $650,000

$665,000 $737,500

$790,000 84

50

60 41

Apr-21

46

47

May-21

49

Jun-21

59

70 48

Apr-22

37

May-22

33

Jun-22

EL SEGUNDO If beachside living and small-town charm with a growing community of businesses sound appealing, look no further than El Segundo.

This hidden beachside gem is quickly becoming an economic powerhouse. With the Los Angeles Airport (LAX) right next door and easy connections to major freeways and metro stops, local and global travel is a breeze. Recognized as the aerospace capital of the world, this community is home to leaders in aerospace and defense, bioscience, information technology, energy, and creative media.

El Segundo also offers thriving cultural experiences in sports, culture, fine dining, and more.

ATTRACTIONS

RESTAURANTS •

•

Dockweiler Beach

•

R6 Distillery

•

Old Town Music Hall

•

Automobile Driving Museum •

•

The Lakes at El Segundo

•

El Segundo Parks & Rec

•

Jame Enoteca

•

Britt's BBQ

Ali'i Fish Company

•

Ensenada's Surf & Turf

Caló Kitchen + Tequila

•

Salt Creek Grille

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

50

41

$1.76M

6

$991

82%

65

44

$1.49M

7

$793

68%

-23%

-7%

+18%

-18%

+25%

+21%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price

$1,733,222 $1,518,750

$1,700,000

$1,214,500 23

21 13

$2,052,500

21 14

17

16

13

$1,530,000 20 16

18 8

Apr-21

May-21

Jun-21

Apr-22

May-22

Jun-22

GARDENA Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes from downtown Los Angeles and 20 minutes from Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without its own activities, Gardena has several parks, enticing restaurants, two card rooms, and more. Between the city and Torrance to the south, there are many opportunities for employment in industrial industries. Gardena also boasts easy freeway access to the 110, 105, and 405; residents are able to travel, and explore all that Los Angeles has to offer.

ATTRACTIONS

RESTAURANTS

•

Rowley Memorial Park

•

Arthur Lee Johnson Park

•

Spoon House Bakery

•

Jin Jja Roo

•

Thornburg Park

•

Gardena Bowl

•

Kotohira Restaurant

•

Fukagawa

•

Mas Fukai Park

•

Alondra Golf Course

•

O' Young's Rock Pot

•

Grand Fish Tacos & Ceviche

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

152

109

$789K

8

$536

72%

131

126

$669K

8

$489

96%

+16%

-13%

+18%

0%

+10%

-25%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $825,000

$706,500

$790,000

$650,000

$650,000

$752,500

58

53

43

Apr-21

50

48 40

38

May-21

35

Jun-21

38

Apr-22

44

40 31

May-22

Jun-22

HAWTHORNE Founded in 1905 and incorporated in 1922, Hawthorne is pleasantly nestled in the South Bay with easy access to work, travel, and play. Surrounded by the 405, 110, and 105 freeways, residents have easy access to all that Greater Los Angeles has to offer. Hawthorne boasts several top companies, including SpaceX, Tesla, The Boring Company, Northrop Corporation, OSI Systems, and Century Media Records. For those looking for a family-oriented neighborhood in a thriving community, Hawthorne is a great place to call home.

ATTRACTIONS

RESTAURANTS

•

Eucalyptus Skate Park

•

Hawthorne Memorial Park

•

Bossa Nova

•

India's Tandoori Halal

•

Jim Thorpe Park

•

•

Zacatecas

•

Common Space Brewery

•

Star Helicopters

Hawthorne Municipal Airport

•

Hummus House

•

Los Angeles Ale Works

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

138

75

$968K

7

$725

54%

117

107

$845K

7

$636

91%

+18%

-30%

+14%

0%

+14%

-41%

YEAR-OVER-YEAR TRENDS Inventory

$831,000

Sales $870,000

$835,000

Median Sales Price $980,000

$938,500 $985,000 57

38

39

42

37

41

27

27

Apr-21

May-21

45 36

Jun-21

Apr-22

25

May-22

23

Jun-22

HERMOSA BEACH Hermosa Beach is home to the casual surfer lifestyle, twenty parks, and 1.8 miles of Pacific Ocean perfection. Nestled between Redondo Beach and Manhattan Beach, residents in Hermosa Beach can often be found enjoying favorite coastal pastimes, walking along the pier, playing outdoor sports such as tennis and baseball, enjoying fresh produce at the Farmer's Market, or trying new fare at one of the many restaurants. Area real estate is almost exclusively single-family homes, often designed with floor-to-ceiling windows to take advantage of the views. For those seeking coastal breezes, laid back atmosphere, and a nice distance from the city hustle, Hermosa Beach is the place.

ATTRACTIONS

RESTAURANTS

•

Hermosa Beach and Pier

•

The Farmer's Market

•

Zane's Steakhouse

•

Fritto Misto

•

The Strand

•

South Park

•

Palmilla Cocina y Tequila

•

Dia de Campo

•

The Comedy Club

•

Noble Park

•

Gum Tree

•

Chef Melba's Bistro

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

107

58

$2.15M

8

$1,212

54%

159

82

$2.09M

10

$955

52%

-33%

-29%

+3%

-21%

+27%

+5%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price

$2,350,000 $2,082,500 $1,850,000 58

$1,985,000

51

50

44

32

29

21

Apr-21

May-21

$2,067,500

$2,400,000

34

29 19

Jun-21

Apr-22

19

May-22

20

Jun-22

HOLLYWOOD RIVIERA Hollywood Riviera, coined by developer Clifford Reid in 1927, got its name from bearing a resemblance to the French Riviera and on the dream of utilizing the area's natural setting for Hollywood's silver screens. The area is bordered by Palos Verdes Estates to the south and Redondo Beach and Torrance to the north. Outdoor amenities include the famous Riviera Village, a pedestrian-friendly district for galleries, shopping, dining, a weekly Farmer's Market, and more, as well as Torrance Beach, Rat Beach, and several parks. Commuters have direct access to Highway 1 and State Routes 107 and 213.

ATTRACTIONS

RESTAURANTS

•

Torrance Beach

•

Riviera Village

•

Bettolino Kitchen

•

Gabi James

•

Rat Beach

•

El Retiro Park

•

Riviera House

•

The Hook & Plow

•

Miramar Park

•

Los Arboles Rocketship Park •

Little Sister

•

TNT Aloha Cafe

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

60

31

$2.03M

10

$1,055

52%

64

41

$1.59M

8

$883

64%

-6%

-24%

+27%

+26%

+19%

-19%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price

$1,701,500

$1,675,000

$1,402,500

$2,236,575

$1,939,000

$1,915,000

20

19

10

Apr-21

25 15

May-21

16

Jun-21

16

23

21 12

Apr-22

9 May-22

10

Jun-22

LAWNDALE Lawndale is a beautiful city and community located south of Hawthorne and west of Gardena. The city's close proximity to the beach allows residents to enjoy the marine layer almost identical to that of Manhattan Beach and El Segundo while in a quieter location away from the beach's popularity. The city is split diagonally by the 405 freeway, affording convenient access points for commuters.

Recreation activities include a golf course and neighboring park that hosts year round family-friendly activities. Local employment opportunities are available in aerospace, oil, and professional services.

ATTRACTIONS

RESTAURANTS

•

Alondra Park & Golf Course

•

Jane Addams Park

•

Ensenada's Surf N Turf Grill

•

El Amigo

•

Rudolph Park

•

Hawthorne Boulevard

•

Havana Mania

•

Saigon Dish

•

Roger Anderson Park

•

LA Rugby Club

•

Pacific Rim Thai Kitchen

•

Corner Burger

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

73

32

$773K

9

$527

44%

49

33

$710K

7

$454

67%

+49%

-3%

+9%

+18%

+16%

-35%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $800,088

$765,000 $765,000

$740,000 $755,000

$625,000

12

14

20

17

14

5 Apr-21

May-21

Jun-21

22

15

Apr-22

27

24 8 May-22

9 Jun-22

LOMITA From a simple ranch house to a sleepy narrow gauge electric railroad stop and a handful of roads named after trees and fruits, Lomita has grown into a small city that, in spite of its growth, has maintained its rustic, small-town flavor. The Lomita railroad museum still stands today as a testament to the city's history. Lomita might be one of the smallest cities in the area, and this fact is part of the area's charm. As with neighboring cities, residents have access to an eclectic blend of restaurants, recreation opportunities, and major commuting freeways. Real estate offerings are a blend of single-family and attached homes that are perfect for families, professionals, and investors.

ATTRACTIONS

RESTAURANTS

•

Lomita Railroad Museum

•

Hathaway Park

•

King Poke

•

Harry's Oklahoma BBQ

•

Lomita Park

•

Veterans Park

•

Bites and Bashes Cafe

•

Pinky's Hot Box

•

Lomita Library

•

Planet Escape Room

•

The Nook Breakfast Spot

•

Lomita's Best

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

69

32

$887K

7

$551

46%

52

56

$820K

6

$502

108%

+33%

-43%

+8%

+11%

+10%

-57%

YEAR-OVER-YEAR TRENDS Inventory

Sales $915,000

Median Sales Price $860,000

28 $915,000 $886,000 24

$860,000 $886,000 17

28 24

13

11

17 11

Apr-22

8

13 8

May-22

Jun-22

Apr-22

May-22

Jun-22

MANHATTAN BEACH Manhattan Beach is a South Bay hotspot for outdoor enthusiasts, families, and anyone who dreams of waking up to sunny beachside views every morning. The over two miles of coastline offer residents year round opportunities for relaxation, rejuvenation, and a plethora of opportunities for shopping and dining with a view. Head a few streets inland for parks, gardens, golfing, and access Highway 1. Located just south of the Los Angeles airport and an hour to Downtown Los Angeles, residents enjoy convenient access to work and enjoying what the greater area has to offer.

ATTRACTIONS •

Roundhouse Aquarium

•

The Strand Bike Path

•

Manhattan Beach Art Center

RESTAURANTS •

•

Polliwog Park & Manhattan Beach Botanical Garden Bruce's Beach

•

The Strand House

•

The Arthur J

•

Jute Coastal Bar + Kitchen

•

Zinc

•

Simmzy's

•

Nick's Manhattan Beach

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

200

101

$3.09M

9

$1,426

51%

322

157

$3.04M

11

$1,099

49%

-38%

-36%

+2%

-16%

+30%

+4%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $3,637,500

$3,358,000 $2,765,000

$2,988,000

$3,012,500

120 104

98

48

Apr-21

52

$2,625,000

57

61

55 34

May-21

Jun-21

84

Apr-22

35

May-22

32

Jun-22

REDONDO BEACH Located at the start of Los Angeles County's coastal edge, 20 miles south of downtown Los Angeles and seven miles south of Los Angeles International Airport, Redondo Beach is a premier beachfront destination. The city offers year-round beach days, high-end shopping and dining, pristine parks, and gorgeous waterfront properties. Local opportunities can be found in the northern industrial complex anchored by Northrop Grumman and in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water and a short walk or drive from the water's edge.

ATTRACTIONS

RESTAURANTS

•

Seaside Lagoon

•

Hopkins Wilderness Park

•

Bluewater Grill

•

Pura Vita

•

South Bay Galleria

•

Veterans Park

•

Sea Level Restaurant

•

Maderos Cocina Mexicana

•

Redondo Beach Marina

•

RB Performing Arts Center

•

The Standing Room

•

Hudson House

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

270

208

$1.51M

7

$842

77%

323

280

$1.33M

7

$702

87%

-16%

-26%

+14%

0%

+20%

-11%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $1,500,000

$1,300,000

$1,333,500

116

$1,342,500

$1,480,000 $1,551,500

116 94

91

90

114

96 76

73

80

75 60

Apr-21

May-21

Jun-21

Apr-22

May-22

Jun-22

TORRANCE Torrance is the eigth largest city in Los Angeles County, and as such, provides an abundance of lifestyle experiences. Choose to live by the beach, slightly further inland, or in a more suburban setting. Torrance has something for everyone — traditional and luxury homes, condos, and townhomes. In Torrance, year round local events, recreation parks, museums, shopping, and a plethora of authentic cuisine are all a short distance away. Torrance is also home to El Camino College and a robust collection of industries. Aviation enthusiasts can feel at home at Zamperini field, a municipal airport primarily for private aircraft and instruction.

ATTRACTIONS

RESTAURANTS

•

Torrance Beach

•

Columbia Park

•

The San Franciscan

•

Madre

•

Zamperini Field

•

Torrance Art Museum

•

King Hawaiian Bakery

•

Shrimp By You

•

Madronna Marsh Preserve

•

Charles Wilson Park

•

Silog

•

Din Tai Fung

MARKET SUMMARY

2 ND QUARTER 20 22 2ND QUARTER

2022 2ND QUARTER

2021 PERCENT CHANGE

TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

439

343

$1.00M

8

$684

78%

342

382

$882K

7

$601

112%

+28%

-10%

+13%

+14%

+14%

-30%

YEAR-OVER-YEAR TRENDS Inventory

Sales

Median Sales Price $1,015,000

$981,500

$895,000 $870,500

$880,000

$995,000 181

138 106

Apr-21

129

118

May-21

107

126

Jun-21

114

126

Apr-22

144

107

May-22

110

Jun-22

BEVERLY HILLS

WE ARE THE COAST BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050

PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222

EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425

REDONDO BEACH 1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747

PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266 310.376.2225

TORRANCE 23740 Hawthorne Blvd.

Torrance, CA 90505 310.378.9889

MANHATTAN BEACH/DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700

WEST LOS ANGELES 10500 W. Pico Blvd.

Los Angeles, CA 90064 310.559.5570

MARINA DEL REY/VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292 310.577.5300

WESTCHESTER/SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000

WEST LOS ANGELES

MARINA DEL REY/VENICE WESTCHESTER/SILICON BEACH

EL SEGUNDO

MANHATTAN BEACH MANHATTAN BEACH/DOWNTOWN REDONDO BEACH TORRANCE PALOS VERDES - MALAGA COVE PALOS VERDES - SILVER SPUR PALOS VERDES - MIRALESTE

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