RE/MAX Estate Properties SouthBay Market Intelligence Report

SOUTH BAY Market Intelligence Report Volume 7 | May 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 Market 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 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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

50

41

$650K

7

$429

82%

2020

68

40

$578K

9

$374

59%

PERCENT CHANGE

-26%

+3%

+13%

-22%

+15%

+39%

APRIL

2021 APRIL

13-MONTH TRENDS $577,500

$530,000

80

70

68 40

Apr-20

$570,000

31

May-20

$597,500

Jun-20

86

83

77

25

$579,988

32

Jul-21

$605,000

$555,000

84

$582,500

$631,000

$672,000 $601,000

$630,000

$650,000

70

31

34

38

Aug-20

Sep-20

Oct-20

40

38

26

27

Jan-21

Feb-21

22

Nov-20

Dec-20

49

47

46

42

Mar-21

50

41

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

23

13

$1.21M

7

$898

57%

2020

19

3

$1.10M

3

$542

16%

PERCENT CHANGE

+21%

+333%

+10%

+133%

+66%

+258%

APRIL

2021 APRIL

13-MONTH TRENDS $1,781,750

$1,665,000 $1,325,000 $1,100,000

$1,256,875

$1,132,500

46 27

19 3

Apr-20

6

May-20

41

32

28 13

Jun-20

12

Jul-21

$1,517,500

$1,469,000

$1,383,750

20 7

Aug-20

Sep-20

$1,214,500

$1,200,000

$1,180,000

41

$1,437,500

31 13

13

Oct-20

Nov-20

17

16

Dec-20

10

12

Jan-21

19

9

Feb-21

16

14

Mar-21

23

13

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

43

53

$650K

8

$511

123%

2020

53

23

$570K

8

$370

43%

PERCENT CHANGE

-19%

+130%

+14%

+0%

+38%

+184%

APRIL

2021 APRIL

13-MONTH TRENDS $570,000

$585,000

$602,500

$587,000

$630,000

$603,000

$655,000

91

53

67

63

55

23

23

22

Apr-20

May-20

Jun-20

30

Jul-21

31

Aug-20

32

Sep-20

$590,000

$627,400

$680,000

$650,000

84

74

64

$610,000

$635,000

29

Oct-20

39

49

50 36 19

Nov-20

Dec-20

Jan-21

45

43

39 28

25

Feb-21

Mar-21

53

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

38

39

$831K

7

$622

103%

2020

58

11

$755K

8

$544

19%

PERCENT CHANGE

-34%

+255%

+10%

-13%

+14%

+441%

APRIL

2021 APRIL

13-MONTH TRENDS $755,000 $694,000

$720,000

$759,600

91

$795,000

$730,000

75

11

14

Apr-20

May-20

Jun-20

$840,000

$810,000 $725,000

$831,000

$740,000

71

58

27

$761,600

89

76

75

$750,000

33

Jul-21

38

Aug-20

45

Sep-20

41

Oct-20

49 35

Nov-20

41 25

Dec-20

32

31

18

15

Jan-21

Feb-21

15

33

Mar-21

38

39

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

58

29

$2.35M

7

$920

50%

2020

49

13

$1.75M

19

$1,104

27%

PERCENT CHANGE

+18%

+123%

+34%

-63%

-17%

+88%

APRIL

2021 APRIL

13-MONTH TRENDS $2,400,000

$1,751,500

$1,925,000

$1,937,500

66

64

$2,112,500 $1,900,000

65

$2,050,000 $1,805,000

62

13

10

Apr-20

May-20

18

Jun-20

28

Jul-21

$1,871,500

$1,885,000

60

58

50

49

$1,795,000

20

17

Aug-20

Sep-20

Oct-20

58

53 41

22

13

Nov-20

$2,350,000 $2,082,500

43

38 24

Dec-20

14

17

Jan-21

Feb-21

28

29

Mar-21

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

12

14

$765K

7

$525

117%

2020

21

5

$725K

11

$379

24%

PERCENT CHANGE

-43%

+180%

+6%

-36%

+39%

+390%

APRIL

2021 APRIL

13-MONTH TRENDS $765,000

$725,000 $659,000 $571,500

$572,500

34

32

21 5

Apr-20

$575,000

35

12

35

14

$625,000

$607,000

Jun-20

Jul-21

$610,000 $535,000

$594,500

31 13

14

Aug-20

Sep-20

20

19

23

16 7

4

May-20

$701,750

$700,000

Oct-20

Nov-20

12

Dec-20

6

13

Jan-21

16 8

Feb-21

10

16

Mar-21

12

14

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

14

22

$770K

6

$482

157%

2020

27

9

$800K

10

$371

33%

PERCENT CHANGE

-48%

+144%

-4%

-40%

+30%

+371%

APRIL

2021 APRIL

13-MONTH TRENDS $800,000 $700,000

$739,000

$717,000

$680,000

48

41

$702,000

46

$729,000

$789,950 $723,500

$754,500

$770,500

16

14

$659,500

45 33

33

27

$732,000

23

23

9

11

9

8

Apr-20

May-20

Jun-20

Jul-21

13

Aug-20

16

20

16

22 8

Sep-20

Oct-20

Nov-20

Dec-20

12

Jan-21

18

14

Feb-21

22 12

Mar-21

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

120

48

$3.36M

6

$1,135

40%

2020

96

23

$2.90M

12

$1,192

24%

PERCENT CHANGE

+25%

+109%

+16%

-50%

-5%

+67%

APRIL

2021 APRIL

13-MONTH TRENDS $3,382,500 $2,900,000

$2,880,000

$2,830,000

$2,880,000

$2,561,779 $2,199,000

$2,375,000

$2,250,000

160

153

132

158

136

121

96 23

20

29

Apr-20

May-20

Jun-20

49

Jul-21

$3,075,000

49

Aug-20

61

Sep-20

108

Oct-20

43

Nov-20

$3,358,000

$2,585,000

96 51

$3,129,375

58

45

Dec-20

55

120

106

18

27

Jan-21

Feb-21

42

48

Mar-21

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

116

94

$1.30M

7

$681

81%

2020

148

40

$1.15M

8

$627

27%

PERCENT CHANGE

-22%

+135%

+13%

-13%

+9%

+200%

APRIL

2021 APRIL

13-MONTH TRENDS $1,310,000 $1,150,000

$1,165,000 $1,050,000

$1,150,000

238

220

$1,062,500

$1,149,000

195

94 40

Apr-20

52

47

May-20

Jun-20

$1,237,500

$1,339,000

$1,300,000

226 177

164

148

$1,077,000

$1,175,000

$1,241,000

Jul-21

104

Aug-20

110

Sep-20

133 88

Oct-20

87

Nov-20

86

74

Dec-20

107 100

95 62

60

Jan-21

Feb-21

47

Mar-21

116

94

Apr-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

APRIL 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

106

138

$895K

6

$587

130%

2020

164

80

$780K

10

$488

49%

PERCENT CHANGE

-35%

+73%

+15%

-40%

+20%

167%

APRIL

2021 APRIL

13-MONTH TRENDS $779,500

$815,000

$835,500

234

231

$866,000

$820,000

260

254

$800,000

245

$835,750

$950,000

$876,500 $799,000

$817,500

$829,300

$895,000

228 192

164 94

80

106

123

129

120

104

102

123 55

47

Apr-20

May-20

Jun-20

Jul-21

Aug-20

Sep-20

Oct-20

Nov-20

Dec-20

78

Jan-21

110

105

131

138 106

74

Feb-21

Mar-21

Apr-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

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