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Vol. 6 | September 2020

Brittny Burford Market Intelligence Report South Bay Edition Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community

Brittny Burford RE/MAX Estate Properties 310.897.8228 www.BrittnyBurford.com


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12 Carson...................................................................13


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 September 2020 are based on data available at the end of August 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.


El Segundo AUGUST STATS Key Facts:

$1,665,000

Median Sold Price

$1,587,000

Average Sold Price

17

AUGUST AUGUST % 2019 2020 Change

Median Price (in $1,000)

$1,590

$1,665

5%

Average Price Per Sq. Foot

$689

$729

6%

Properties for Sale

19

17 -11%

Properties Pending Sales

11

20 82%

Properties Sold

8

7 -13%

Days on Market (Sold Homes)

65

5 -92%

Monthly Supply of Inventory

2.4 2.4 0%

Absorption Rate (Closed Sales) 42.1 41.2 -2%

Listings for Sale

AVERAGE & MEDIAN PRICE

$1,800

20

Listings Pending

$1,600

$3,500

$1,400

$3,000

7

Listings Sold

$1,200

$2,593

$2,500 $1,000

$2,000 $1,655

$800

5

Days On Market

$1,500 $600

$1,000 $400

$500 $200

$-

$Aug 2019

Sep 2019

Oct 2019

Nov 2019

Dec 2019

Feb 2020

Median

Mar 2020

Apr 2020

Average

May 2020

Jun Jul 2020 Aug 2020 2020


Gardena AUGUST STATS Key Facts:

$628,000

Median Sold Price

$604,000

Average Sold Price

19

AUGUST 2019

Median Price (in $1,000)

$567

$628

11%

Average Price Per Sq. Foot

$409

$443

8%

Properties for Sale

50

19 -62%

Properties Pending Sales

37

27 -27%

Properties Sold

46

32 -30%

Days on Market (Sold Homes)

39

18 -54%

Monthly Supply of Inventory

1.1

0.6 -45%

Absorption Rate (Closed Sales) 92

168.4 83%

Listings for Sale

27

Listings Pending

AUGUST % 2020 Change

AVERAGE & MEDIAN PRICE $604

$3,500$700

$628

$3,000$600

32

$2,593 $2,500$500

Listings Sold $2,000$400 $1,655

18

Days On Market

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

$500

$-

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

Median

Average


Hawthorne AUGUST STATS Key Facts:

$795,000

Median Sold Price

$761,000

Average Sold Price

36

AUGUST AUGUST % 2019 2020 Change

Median Price (in $1,000)

$700

$795

14%

Average Price Per Sq. Foot

$495

$505

2%

Properties for Sale

45

36 -20%

Properties Pending Sales

29

38 31%

Properties Sold

27

37 37%

Days on Market (Sold Homes)

27

20 -26%

Monthly Supply of Inventory

1.7

1 -41%

Absorption Rate (Closed Sales) 60

Listings for Sale

38

Listings Pending

102.8 71%

AVERAGE & MEDIAN PRICE $3,500$900

$761

$795

$800

$3,000 $700

37

$2,593

$2,500

$600

Listings Sold

$2,000$500 $1,655 $400

20

Days On Market

$1,500

$300

$1,000

$200

$500$100

$-

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

Median

Average


Hermosa Beach AUGUST STATS Key Facts:

AUGUST 2019

Median Price (in $1,000)

$1,900,000 Median Sold Price

$2,209,000

Average Sold Price

57

Average Price Per Sq. Foot

Listings Pending

$1,620

$1,900

17%

$952

$920

-3%

Properties for Sale

67

57 -15%

Properties Pending Sales

16

18 13%

Properties Sold

19

22 16%

Days on Market (Sold Homes)

54

47 -13%

Monthly Supply of Inventory

3.5

2.6 -26%

Absorption Rate (Closed Sales) 28.4 38.6 36%

Listings for Sale

18

AVERAGE & MEDIAN PRICE $3,000

$2,209

$3,500 $2,500

$3,000

22

AUGUST % 2020 Change

$1,900

$2,593

$2,000 $2,500

Listings Sold $2,000

$1,500

47

Days On Market

$1,655

$1,500 $1,000

$1,000 $500

$500 $- $-

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

Median

Average


Lawndale AUGUST STATS Key Facts:

$575,000

Median Sold Price

$570,000

Average Sold Price

16

Median Price (in $1,000)

$583

$575

-1%

Average Price Per Sq. Foot

$440

$451

3%

Properties for Sale

9

16 78%

Properties Pending Sales

16

20 25%

Properties Sold

18

13 -28%

Days on Market (Sold Homes)

31

24 -23%

Monthly Supply of Inventory

0.5

1.2 140%

Absorption Rate (Closed Sales) 200

81.3 -59%

Listings for Sale

20

Listings Pending

AUGUST AUGUST % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,500

$800 $570

$3,000 $700

13

Listings Sold

$2,593 $575

$600 $2,500 $500

$2,000

$1,655

$400

24

Days On Market

$1,500 $300

$1,000

$200

$500 $100 $-

$-

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

Median

Average


Lomita AUGUST STATS Key Facts:

$680,000 Median Sold Price

$696,000

Average Sold Price

15

AUGUST 2019

Median Price (in $1,000)

$765

$680

-11%

Average Price Per Sq. Foot

$372

$502

35%

Properties for Sale

18

15 -17%

Properties Pending Sales

13

22 69%

Properties Sold

15

13 -13%

Days on Market (Sold Homes)

39

10 -74%

Monthly Supply of Inventory

1.2

1.2 0%

Absorption Rate (Closed Sales) 83.3 86.7 4%

Listings for Sale

22

Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $900

$3,000 $800

13

Listings Sold

AUGUST % 2020 Change

$696

$2,593 $680

$700

$2,500

$600

$2,000

$500

10

Days On Market

$1,655

$400 $1,500 $300

$1,000 $200

$500 $100 $-

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

Median

Average


Manhattan Beach AUGUST STATS Key Facts:

$2,880,000 Median Sold Price

$3,221,000 Average Sold Price

124

Median Price (in $1,000)

$2,613

$2,880

10%

Average Price Per Sq. Foot

$1,181

$1,042

-12%

Properties for Sale

124 124 0%

Properties Pending Sales

23

55 139%

Properties Sold

40

47 18%

Days on Market (Sold Homes)

57

58 2%

Monthly Supply of Inventory

3.1

2.6 -16%

Absorption Rate (Closed Sales) 32.3 37.9 17%

Listings for Sale

55 Listings Pending

AUGUST AUGUST % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,221 $3,500 $3,000

47 Listings Sold

$2,880

$2,593

$3,000 $2,500 $2,500 $2,000

$1,655

$2,000

58

Days On Market

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

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

Median

Average


Redondo Beach AUGUST STATS Key Facts:

$1,013,000 Median Sold Price

$1,161,000

Average Sold Price

89

Listings Pending

AUGUST % 2020 Change

Median Price (in $1,000)

$1,100

$1,013

-8%

Average Price Per Sq. Foot

$660

$632

-4%

Properties for Sale

117

89 -24%

Properties Pending Sales

62

92 48%

Properties Sold

59

88 49%

Days on Market (Sold Homes)

25

18 -28%

Monthly Supply of Inventory

2

1 -50%

Absorption Rate (Closed Sales) 50.4 98.9 96%

Listings for Sale

92

AUGUST 2019

AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,161 $1,400 $3,000

88

Listings Sold

$1,013

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

$1,655

$800

18

Days On Market

$2,593

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

Average


Torrance AUGUST STATS Key Facts:

$900,000

Median Sold Price

$1,008,000

Average Sold Price

105

Median Price (in $1,000)

$866

$900

4%

Average Price Per Sq. Foot

$559

$581

4%

Properties for Sale

133

105 -21%

Properties Pending Sales

111

116 5%

Properties Sold

102 117 15%

Days on Market (Sold Homes)

33

26 -21%

Monthly Supply of Inventory

1.3

0.9 -31%

Absorption Rate (Closed Sales) 76.7 111.4 45%

Listings for Sale

116

Listings Pending

AUGUST AUGUST % 2019 2020 Change

AVERAGE & MEDIAN PRICE $1,008

$1,200 $3,500

$3,000 $1,000

117

Listings Sold

$900 $2,593 $2,500 $800 $2,000 $1,655

$600

26

Days On Market

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

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

Average


Carson AUGUST STATS Key Facts:

$565,000 Median Sold Price

$559,000

Average Sold Price

AUGUST 2019

Median Price (in $1,000)

$565

$565

0%

Average Price Per Sq. Foot

$367

$397

8%

Properties for Sale

41

25 -39%

Properties Pending Sales

38

42 11%

Properties Sold

41

26 -37%

Days on Market (Sold Homes)

29

16 -45%

Monthly Supply of Inventory

25

Listings Pending

26

Listings Sold

1

1 0%

Absorption Rate (Closed Sales) 100 104 4%

Listings for Sale

42

AUGUST % 2020 Change

AVERAGE & MEDIAN PRICE $620 $3,500 $559 $600 $3,000 $580

$2,593 $565

$2,500 $560 $2,000 $540

16

Days On Market

$1,655

$1,500 $520 $1,000 $500 $500 $480 $$460 Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 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


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Brittny Burford Cell: (310) 897-8228 1401 Highland Ave | Manhattan Beach, CA 90266 | bb@brittnyburford.com | BRE #01874928 |

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Brittny Burford's SouthBay Market Intelligence Report  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate market....

Brittny Burford's SouthBay Market Intelligence Report  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate market....