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Vol. 6 | May 2020

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

RE/MAX Estate Properties 600+ Local Agents • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................3 Gardena..................................................................4 Hawthorne..............................................................5 Hermosa Beach......................................................7 Lawndale................................................................7 Lomita.....................................................................8 Manhattan Beach...................................................9 Redondo Beach....................................................10 Torrance................................................................11


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 May 2020 are based on data available at the end of April 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 APRIL STATS Key Facts:

$1,100,000

Median Sold Price

$993,000

Average Sold Price

19

APR APR % 2019 2020 Change

Median Price (in $1,000)

$1,005

$1,100

9%

$627

$698

11%

Average Price Per Sq. Foot Properties for Sale

22

19 -14%

Properties Pending Sales

18

3 -83%

Properties Sold

10

3 -70%

Days on Market (Sold Homes)

52

7 -87%

Monthly Supply of Inventory

2.2

6.3 186%

Absorption Rate (Closed Sales) 45.5

15.8 -65%

Listings for Sale

AVERAGE & MEDIAN PRICE

$1,800

3

Listings Pending

$1,600

$3,500 $1,400

$3,000 $1,200

3

Listings Sold

$2,593

$2,500 $1,000

$2,000 $800

7

Days On Market

$1,655

$1,500

$600

$1,000

$400

$500

$200

$-

$Apr 2019

May 2019

Jun Jul 2019 Aug 2019 2019

Oct 2019

Median

Nov 2019

Dec 2019

Average

Jan 2020

Feb 2020

Mar 2020

Apr 2020


Gardena APRIL STATS Key Facts:

$564,000

Median Sold Price

$561,000

Average Sold Price

29

Listings Pending

Listings Sold

% Change

$533

$564

6%

Average Price Per Sq. Foot

$405

$365

-10%

Properties for Sale

75

29 -61%

Properties Pending Sales

41

19 -54%

Properties Sold

40

22 -45%

Days on Market (Sold Homes)

32

12 -63%

Monthly Supply of Inventory

1.9

1.3 -32%

Absorption Rate (Closed Sales) 53.3 75.9 42%

AVERAGE & MEDIAN PRICE $620 $3,500 $561

$600 $3,000

22

APR 2020

Median Price (in $1,000)

Listings for Sale

19

APR 2019

$2,593

$580 $2,500

$564 $560 $2,000

$1,655

12

Days On Market

$540 $1,500 $520 $1,000 $500 $500 $480 $-

Median

Average


Hawthorne APRIL STATS Key Facts:

$755,000

Median Sold Price

$781,000

Average Sold Price

50

APR APR % 2019 2020 Change

Median Price (in $1,000)

$623

$755

21%

Average Price Per Sq. Foot

$509

$511

0%

Properties for Sale

59

50 -15%

Properties Pending Sales

40

13 -68%

Properties Sold

26

11 -58%

Days on Market (Sold Homes)

41

12 -71%

Monthly Supply of Inventory

2.3

4.5 96%

Absorption Rate (Closed Sales) 44.1

22 -50%

Listings for Sale

13

Listings Pending

AVERAGE & MEDIAN PRICE $3,500$900

$781

$800

$755

$3,000 $700

11

$2,593

$2,500$600

Listings Sold

$500

$2,000

$1,655

$400

12

Days On Market

$1,500

$300

$1,000$200 $100

$500 $-

$-

Median

Average


Hermosa Beach APRIL STATS Key Facts:

$1,765,000 Median Sold Price

$1,876,000

Average Sold Price

54

APR 2019

APR 2020

% Change

Median Price (in $1,000)

$1,538

$1,765

15%

Average Price Per Sq. Foot

$943

$1,107

17%

Properties for Sale

49

54 10%

Properties Pending Sales

15

7 -53%

Properties Sold

20

13 -35%

Days on Market (Sold Homes)

24

30 25%

Monthly Supply of Inventory

2.5

4.2 68%

Absorption Rate (Closed Sales) 40.8 24.1 -41%

Listings for Sale

7

Listings Pending

AVERAGE & MEDIAN PRICE $3,000

$3,500 $1,876

$2,500

$3,000

13

$2,593 $1,765

$2,000 $2,500

Listings Sold $2,000

$1,500

30

Days On Market

$1,655

$1,500 $1,000

$1,000 $500

$500

$-

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

Median

Average


Lawndale APRIL STATS Key Facts:

$725,000

Median Sold Price

$697,000

Average Sold Price

16

APR APR % 2019 2020 Change

Median Price (in $1,000)

$560

$725

29%

Average Price Per Sq. Foot

$389

$384

-1%

Properties for Sale

12

16 33%

Properties Pending Sales

12

6 -50%

Properties Sold

9

5 -44%

Days on Market (Sold Homes)

28

25 -11%

Monthly Supply of Inventory

1.3

3.2 146%

Absorption Rate (Closed Sales) 75

31.3 -58%

Listings for Sale

6

Listings Pending

AVERAGE & MEDIAN PRICE $3,500

$697 $725

$800

$3,000 $700

5

Listings Sold

$2,593

$600 $2,500 $500

$2,000

$1,655

$400

25

Days On Market

$1,500 $300

$1,000

$200

$500 $100 $-

$-

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

Median

Average

Feb Mar 2020 2020

Apr 2020


Lomita APRIL STATS Key Facts:

$800,000 Median Sold Price

$765,000

Average Sold Price

14

APR 2019

APR 2020

Median Price (in $1,000)

$550

$800

45%

Average Price Per Sq. Foot

$411

$436

6%

Properties for Sale

23

14 -39%

Properties Pending Sales

21

8 -62%

Properties Sold

11

9 -18%

Days on Market (Sold Homes)

42

15 -64%

Monthly Supply of Inventory

2.1

1.6 -24%

Absorption Rate (Closed Sales) 47.8 64.3 35%

Listings for Sale

8

Listings Pending

AVERAGE & MEDIAN PRICE $3,500

$900 $765

$3,000 $800

9

Listings Sold

% Change

$800

$2,593

$700

$2,500

$600

$2,000

$500

15

Days On Market

$1,655

$400 $1,500 $300

$1,000 $200

$500 $100 $-

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

Median

Average


Manhattan Beach APRIL STATS Key Facts:

$2,900,000 Median Sold Price

$3,540,000 Average Sold Price

88

APR APR % 2019 2020 Change

Median Price (in $1,000)

$2,337

$2,900

24%

Average Price Per Sq. Foot

$931

$1,309

41%

Properties for Sale

117

88 -25%

Properties Pending Sales

44

17 -61%

Properties Sold

44

23 -48%

Days on Market (Sold Homes)

63

41 -35%

Monthly Supply of Inventory

2.7

3.8 41%

Absorption Rate (Closed Sales) 37.6

26.1 -31%

Listings for Sale

17 Listings Pending

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

$3,540

$3,000 $3,500

23 Listings Sold

$2,593 $2,900

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

$1,655

$2,000

41

Days On Market

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

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

Median

Average

Feb Mar 2020 2020

Apr 2020


Redondo Beach APRIL STATS Key Facts:

$1,150,000 Median Sold Price

$1,213,000

Average Sold Price

94

APR 2019

APR 2020

Median Price (in $1,000)

$1,140

$1,150

1%

Average Price Per Sq. Foot

$600

$619

3%

Properties for Sale

116

94 -19%

Properties Pending Sales

75

37 -51%

Properties Sold

86

35 -59%

Days on Market (Sold Homes)

42

25 -40%

Monthly Supply of Inventory

1.3

2.7 108%

Absorption Rate (Closed Sales) 74.1

37.2 -50%

Listings for Sale

37

Listings Pending

% Change

AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,213 $1,400 $3,000

35

Listings Sold

$1,150 $2,593

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

$1,655

$800

25

Days On Market

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

Average


Torrance APRIL STATS Key Facts:

$863,000

Median Sold Price

$901,000

Average Sold Price

86

Median Price (in $1,000)

$822

$863

5%

Average Price Per Sq. Foot

$515

$552

7%

Properties for Sale

117

86 -26%

Properties Pending Sales

88

41 -53%

Properties Sold

81

66 -19%

Days on Market (Sold Homes)

33

21 -36%

Monthly Supply of Inventory

1.4

1.3 -7%

Absorption Rate (Closed Sales) 69.2 76.7 11%

Listings for Sale

41

Listings Pending

APR APR % 2019 2020 Change

AVERAGE & MEDIAN PRICE $1,000 $3,500 $901

$950 $3,000

66

$2,593 $2,500 $900

Listings Sold

$863

$2,000 $850

21

Days On Market

$1,655

$1,500 $800 $1,000 $750 $500 $700 $-

Median

Average


RE/MAX Estate Properties • 600+ Local Agents • 13 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

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266


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RE/MAX Estate Properties 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....

RE/MAX Estate Properties 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....