Market Intelligence Report Volume 8 | December 2022
SOUTH BAY
Carson El Segundo Gardena Hawthorne Hermosa Beach Hollywood Riviera Lawndale Lomita Manhattan Beach Redondo Beach Torrance 4 6 8 10 12 14 16 18 20 22 24 SOUTH BAY MARKETS
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 RESTAURANTS
• Carson Park
• Dignity Health Sports Park
• International Printing Museum
• Gnome Village
• Go Kart World
• Anderson Park
• Rosario's Italian Restaurant
• Chinollo
• Hiccups Tea House
• Darrow's New Orleans Grill
• Back Home in Lahaina
• Orleans & York Deli
13-MONTH TRENDS MARKET SUMMARY NOVEMBER 2022 TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 81 30 $692K 16 $450 37% NOVEMBER 2021 49 43 $720K 11 $470 88% PERCENT CHANGE +65% -30% -4% +45% -4% -58% 49 40 44 58 53 59 70 84 86 74 78 87 81 43 40 37 28 52 48 37 33 32 44 34 35 30 $720,000 $720,500 $726,000 $705,000 $776,944 $737,500 $790,000 $830,000 $795,900 $747,500 $677,500 $699,000 $692,025 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-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
• Old Town Music Hall
• The Lakes at El Segundo
• R6 Distillery
• Automobile Driving Museum
• El Segundo Parks & Rec
• Jame Enoteca
• Ali'i Fish Company
• Caló Kitchen + Tequila
• Britt's BBQ
• Ensenada's Surf & Turf
• Salt Creek Grille
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 18 6 $980K 49 $640 33% NOVEMBER 2021 14 20 $1.70M 15 $839 143% PERCENT CHANGE +29% -70% -42% +227% -24% -77% 13-MONTH TRENDS 14 14 9 12 20 16 16 18 24 23 15 14 18 20 9 9 9 11 13 20 8 11 9 9 12 6 $1,700,000 $1,505,000 $1,170,000 $1,100,000 $1,890,000
$1,489,000
$1,592,500 $980,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
$1,700,000 $1,530,000 $2,052,500 $1,300,000
$1,143,000
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
• Thornburg Park
• Mas Fukai Park
• Arthur Lee Johnson Park
• Gardena Bowl
• Alondra Golf Course
• Spoon House Bakery
• Kotohira Restaurant
• O' Young's Rock Pot
• Jin Jja Roo
• Fukagawa
• Grand Fish Tacos & Ceviche
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 58 31 $695K 34 $505 53% NOVEMBER 2021 49 45 $708K 12 $538 92% PERCENT CHANGE +18% -31% -2% +183% -6% -42% 13-MONTH TRENDS 49 30 33 28 47 50 44 58 65 72 69 68 58 45 30 30 28 37 38 31 40 29 31 21 32 31 $708,000 $725,000 $765,000 $767,500 $760,000 $825,000 $790,000 $752,500 $770,000 $720,000 $742,903 $746,000 $695,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
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
•
• Hawthorne Memorial Park
• Jim Thorpe Park
• Hawthorne Municipal Airport
• Bossa Nova
• Zacatecas
• Star Helicopters
• Hummus House
•
• Common Space Brewery
• Los Angeles Ale Works
Eucalyptus Skate Park
India's Tandoori Halal
13-MONTH TRENDS 40 26 28 25 23 36 45 57 52 58 62 70 60 32 31 14 24 31 27 25 23 24 31 26 15 18 $822,500 $900,000 $875,000 $803,000 $875,000 $980,000 $985,000 $938,500 $887,000 $805,000 $940,000 $927,500 $855,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022 TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 60 18 $855K 14 $674 30% NOVEMBER 2021 40 32 $823K 11 $605 80% PERCENT CHANGE +50% -44% +4% +27% +11% -63%
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 Strand
• The Comedy Club
• The Farmer's Market
• South Park
• Noble Park
• Zane's Steakhouse
• Palmilla Cocina y Tequila
• Gum Tree
• Fritto Misto
• Dia de Campo
• Chef Melba's Bistro
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 38 11 $3.05M 29 $963 29% NOVEMBER 2021 31 19 $2.00M 13 $948 61% PERCENT CHANGE +23% -42% +53% +123% +2% -53% 13-MONTH TRENDS 31 23 20 35 28 34 29 44 44 41 43 49 38 19 22 13 7 19 19 19 20 13 15 16 11 11 $2,000,000 $2,487,500 $2,800,000 $2,200,000 $2,150,000 $1,985,000 $2,400,000 $2,067,500 $2,400,000 $1,850,000 $1,975,000 $1,899,000 $3,052,500 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
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
• Rat Beach
• Riviera Village
• El Retiro Park
• Miramar Park
• Los Arboles Rocketship Park
• Bettolino Kitchen
• Gabi James
• Riviera House
• Little Sister
• The Hook & Plow
• TNT Aloha Cafe
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 11 7 $1.70M 32 $1,065 64% NOVEMBER 2021 4 12 $1.98M 12 $846 300% PERCENT CHANGE +175% -42% -14% +167% +26% -79% 13-MONTH TRENDS 4 2 5 8 19 16 21 23 20 24 19 15 11 12 10 1 4 10 12 9 10 9 6 9 8 7 $1,980,000 $1,587,500 $1,147,500 $1,897,500 $2,176,500 $1,915,000 $2,236,575 $1,939,000 $2,113,000 $1,700,605 $1,800,000 $1,830,000 $1,700,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
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
• Rudolph Park
• Roger Anderson Park
• Jane Addams Park
• Hawthorne Boulevard
• LA Rugby Club
• Ensenada's Surf N Turf Grill
• Havana Mania
• Pacific Rim Thai Kitchen
• El Amigo
• Saigon Dish
• Corner Burger
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 22 9 $796K 17 $619 41% NOVEMBER 2021 17 12 $758K 13 $496 71% PERCENT CHANGE +29% -25% +5% +31% +25% -42% 13-MONTH TRENDS 17 10 12 13 16 22 24 27 28 22 30 18 22 12 15 6 7 15 15 8 9 10 10 8 7 9 $757,500 $659,000 $763,500 $750,000 $777,000 $800,088 $755,000 $765,000 $896,300 $857,000 $736,000 $644,983 $796,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
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
• Lomita Park
• Lomita Library
• Hathaway Park
• Veterans Park
• Planet Escape Room
• King Poke
• Bites and Bashes Cafe
• The Nook Breakfast Spot
• Harry's Oklahoma BBQ
• Pinky's Hot Box
• Lomita's Best
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 12 5 $830K 10 $478 42% NOVEMBER 2021 25 14 $876K 11 $539 56% PERCENT CHANGE -52% -64% -5% -9% -11% -26% 13-MONTH TRENDS 25 16 18 18 15 17 24 28 28 34 26 17 12 14 19 14 6 11 11 8 13 8 7 6 18 5 $876,000 $925,000 $732,500 $880,000 $871,500 $860,000 $886,000 $915,000 $729,500 $825,000 $795,000 $832,500 $830,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
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 RESTAURANTS
•
• Roundhouse Aquarium
The
Strand Bike Path
• Manhattan Beach Art Center
• Polliwog Park & Manhattan Beach Botanical Garden
• Bruce's Beach
• The Strand House
• Jute Coastal Bar + Kitchen
• Simmzy's
• The Arthur J • Zinc
• Nick's Manhattan Beach
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 65 22 $2.76M 14 $1,106 34% NOVEMBER 2021 62 44 $2.98M 9 $1,247 71% PERCENT CHANGE +5% -50% -7% +56% -11% -52% 13-MONTH TRENDS 62 37 35 42 57 55 61 84 77 68 79 80 65 44 35 17 24 28 34 35 32 36 28 19 25 22 $2,977,500 $2,680,000 $3,200,000 $4,025,500 $2,927,500 $3,012,500 $2,625,000 $3,637,500 $3,775,000 $2,800,000 $3,495,000 $3,000,000 $2,762,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
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
• South Bay Galleria
• Redondo Beach Marina
• Hopkins Wilderness Park
• Veterans Park
• RB Performing Arts Center
• Bluewater Grill
• Pura Vita
• Sea Level Restaurant
• The Standing Room
• Maderos Cocina Mexicana
• Hudson House
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 91 43 $1.48M 31 $736 47% NOVEMBER 2021 49 77 $1.25M 9 $715 157% PERCENT CHANGE +86% -44% +19% +244% +3% -70% 13-MONTH TRENDS 49 30 37 64 59 76 80 114 118 116 107 102 91 77 70 38 36 73 73 60 75 61 51 50 50 43 $1,249,000 $1,427,000 $1,336,500 $1,242,500 $1,550,000 $1,500,000 $1,551,500 $1,480,000 $1,523,000 $1,330,000 $1,430,000 $1,455,000 $1,481,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
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
• Zamperini Field
• Madronna Marsh Preserve
• Columbia Park
• The San Franciscan
• Torrance Art Museum
• Charles Wilson Park
• King Hawaiian Bakery
• Silog
• Madre
• Shrimp By You
• Din Tai Fung
TOTAL INVENTORY TOTAL SALES MEDIAN SALES PRICE MEDIAN DAYS ON MARKET MEDIAN PRICE PER SQUARE FOOT SALES RATIO NOVEMBER 2022 142 61 $930K 12 $631 43% NOVEMBER 2021 94 103 $865K 8 $622 110% PERCENT CHANGE +51% -41% +8% +50% +1% -61% 13-MONTH TRENDS 94 60 76 86 116 114 144 181 170 179 163 171 142 103 111 75 72 106 126 107 110 109 86 83 75 61 $865,000 $900,000 $915,000 $910,250 $1,028,000 $981,500 $995,000 $1,015,000 $925,000 $985,000 $960,000 $1,000,065 $930,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 MARKET SUMMARY NOVEMBER 2022
BEVERLY HILLS
WE ARE THE COAST
BEVERLY HILLS
9454 Wilshire Blvd., Suite 600
Beverly Hills, CA 90212 310.205.0050
EL SEGUNDO
402 Main Street
El Segundo, CA 90245 310.322.1425
PALOS VERDES - MALAGA COVE
63 Malaga Cove Plaza
Palos Verdes Estates, CA 90274 310.378.9494
MANHATTAN BEACH
1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
MANHATTAN BEACH/DOWNTOWN
1401 Highland Avenue
Manhattan Beach, CA 90266 310.937.5700
MARINA DEL REY/VENICE
124 Washington Blvd.
Marina Del Rey, CA 90292 310.577.5300
PALOS VERDES - MIRALESTE
5 Miraleste Plaza
Rancho Palos Verdes, CA 90275 310.831.0222
REDONDO BEACH
1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747
PALOS VERDES - SILVER SPUR
450 Silver Spur Road
Rancho Palos Verdes, CA 90275 310.544.9999
TORRANCE
23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
WEST LOS ANGELES
10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
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
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720
