SOUTH BAY Quarterly Market Intelligence Report 1st Quarter 2021
SOUTH BAY MARKETS Carson
4
El Segundo
6
Gardena
8
Hawthorne
10
Hermosa Beach
12
Lawndale
14
Lomita
16
Manhattan Beach
18
Redondo Beach
20
Torrance
22
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 previous month exceed current inventory.
The South Bay Quarterly Market Intelligence Report is published quarterly 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 or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2021.
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 Domiguez, 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
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
118
95
$634K
8
$424
81%
2020
231
87
$546K
12
$397
38%
PERCENT CHANGE
-49%
+9%
+16%
-34%
+7%
+114%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $672,000 $630,000 $601,000
$586,000 $537,450
$513,475 82
78
71 30
Jan-20
25
Feb-20
32
Mar-20
49
47 22
26
Jan-21
27
Feb-21
42
Mar-21
EL SEGUNDO If beachside living and small-town charms with a growing community of businesses sounds appealing, then 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 in 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
• Jame Enoteca
• Britt's BBQ
• Old Town Music Hall
• Automobile Driving Museum
• Ali'i Fish Company
• Ensenada's Surf & Turf
• The Lakes at El Segundo
• El Segundo Parks & Rec
• Caló Kitchen + Tequila
• Salt Creek Grille
MARKET SUMMARY
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
45
35
$1.39M
15
$710
78%
2020
40
27
$1.11M
16
$801
68%
PERCENT CHANGE
+13%
+30%
+25%
-6%
-11%
+15%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $1,517,500
$1,200,000
$1,107,500
$1,012,500
$1,437,500
$1,200,000 19
14
13
13
13 8
Jan-20
Feb-20
10
12
6
Mar-20
Jan-21
16
14
9
Feb-21
Mar-21
GARDENA Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes to downtown Los Angeles and 20 minutes to Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without it's own activities, Gardena has several parks, several 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 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
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
103
89
$647K
7
$481
86%
2020
176
80
$582K
15
$414
45%
PERCENT CHANGE
-41%
+11%
+11%
-52%
+16%
+90%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $680,000 $635,000
$564,500
$590,000
63
59 26
Jan-20
$627,400
$591,500
54 25
Feb-20
29
Mar-20
36 19
Jan-21
45 28
Feb-21
39 25
Mar-21
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
• Jim Thorpe Park
• Hawthorne Municipal Airport • Zacatecas
• Star Helicopters
• Bossa Nova
• Hummus House
• India's Tandoori Halal • Common Space Brewery • Los Angeles Ale Works
MARKET SUMMARY
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
78
66
$768K
7
$595
85%
2020
137
56
$717K
19
$509
41%
PERCENT CHANGE
-43%
+18%
+7%
-63%
+17%
+107%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $840,000
$762,500
$749,000 $640,000
$725,000 $740,000
47
44 14
Jan-20
46 17
Feb-20
25
Mar-20
32 15
18
Jan-21
31
33
15
Feb-21
Mar-21
HERMOSA BEACH Hermosa Beach, home of 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
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
134
59
$2.12M
27
$947
44%
2020
150
43
$1.61M
50
$935
29%
PERCENT CHANGE
-11%
+37%
+32%
-45%
+1%
+54%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $2,400,000
$1,650,000
$1,637,500
$2,082,500 $1,885,000
$1,542,500 56
46 13 Jan-20
53
48
10 Feb-20
43
38
20
Mar-20
14
Jan-21
17
Feb-21
28
Mar-21
LAWNDALE Lawndale, California - 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 quieter location away from the beach 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, as well as commuting across the greater metro area.
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
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
32
37
$635K
11
$493
116%
2020
63
25
$542K
13
$483
40%
PERCENT CHANGE
-49%
+48%
+17%
-15%
+2%
+191%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $701,750
$680,000 $535,000 $610,000
$410,000
$594,500
25
20
18 5
Jan-20
7 Feb-20
13
13 6
Mar-20
Jan-21
16 8
Feb-21
10
16
Mar-21
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 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
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
42
38
$756K
17
$457
90%
2020
73
36
$728K
19
$472
49%
PERCENT CHANGE
-42%
+6%
+4%
-14%
-3%
+83%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $789,950
$755,000
$754,500
$717,500
$710,000
22
$723,500
26
25 17 9
Jan-20
Feb-20
10
Mar-20
8
12
Jan-21
18
14
Feb-21
16
12
Mar-21
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
RESTAURANTS • Polliwog Park & Manhattan Beach Botanical Garden
• The Strand Bike Path
• The Strand House
• The Arthur J
• Jute Coastal Bar + Kitchen
• Zinc
• Simmzy's
• Nick's Manhattan Beach
• Bruce's Beach • Manhattan Beach Art Center
MARKET SUMMARY
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
269
87
$3.20M
20
$1,281
32%
2020
278
59
$2.57M
28
$1,045
21%
PERCENT CHANGE
-3%
+47%
+24%
-28%
+23%
+52%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $3,100,000
$3,382,500
$2,349,500
$2,252,500
$3,075,000
108
102
101 75
106
55
13 Jan-20
22 Feb-20
24 Mar-20
18 Jan-21
$3,129,375
27
Feb-21
42
Mar-21
REDONDO BEACH Located at the start of Los Angele's 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 as well as in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water as well as a short walk or drive away 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
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
249
222
$1.27M
11
$664
89%
2020
378
136
$1.33M
24
$603
36%
PERCENT CHANGE
-34%
+63%
+12%
-54%
+10%
+148%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $1,241,000
$1,089,000
$1,182,000
$1,130,000
107
95
35
Jan-20
$1,339,000
135
127
116
$1,237,500
44
Feb-20
57
Mar-20
47
62
Jan-21
100
60
Feb-21
Mar-21
TORRANCE Torrance is the eight 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 find home at Zamperini field, a municipal airport primarily for private aircraft and instruction.
ATTRACTIONS
RESTAURANTS
• Los Arboles Rocketship Park
• Riviera Village
• The San Franciscan
• Madre
• Torrance Beach
• Columbia Park
• King Hawaiian Bakery
• Shrimp By You
• Zamperini Field
• Torrance Art Museum
• Silog
• Din Tai Fung
MARKET SUMMARY
1ST QUARTER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
270
283
$865K
34
$1,683
105%
2020
520
218
$761K
12
$517
42%
PERCENT CHANGE
-48%
+30%
+14%
+176%
+226%
+150%
1ST QUARTER
2021 1ST QUARTER
YEAR-OVER-YEAR TRENDS $815,000
$770,000
$817,500
$829,300
$950,000
$700,000 185
179
156
61
Jan-20
71
Feb-20
86 55
Mar-20
110
105 78
Jan-21
131
74
Feb-21
Mar-21
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 1720 S. Elena 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
W E A R E T H E COA S T
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720