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Vol. III June 2017

The 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 community. This report covers Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo, Torrance, Hawthorne, Gardena, Lawndale and Lomita.


725 Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International Children’s Miracle Network of Hospitals Supporter #27 RIS Media Top 500 Power Broker BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 Phone: 310.205.0050 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 Phone: 310.202.8141 SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Phone: 310.577.5300 EL SEGUNDO 402 Main Street El Segundo, CA 90245 Phone: 310.322.1425 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 Phone: 310.376.2225 MANHATTAN BEACH DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 Phone: 310.937.5700 HERMOSA BEACH 2601 Pacific Coast Hwy. #101 Hermosa Beach, CA 90254 Phone: 310.937.3200

SOUTH BAY 23740 Hawthorne Blvd. 2nd Floor Torrance, CA 90505 Phone: 310.378.9889 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 Phone: 310.378.7747 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 Phone: 310.831.0222 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 Phone: 310.544.9999 SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

Photography courtesy of Brian Holm | AvenueEye.com | 424.262.7723


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. This Market Intelligence Report monitors

El Segundo

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.

Gardena Hawthorne

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.

Hermosa Beach Lawndale Lomita Manhattan Beach

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.

Redondo Beach

ABSORPTION RATE (CLOSED SALES):

Torrance

REPORT NOTES:

This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.

Reports published in June 2017 are based on data available at the end of May 2017. 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.

Photography courtesy of Brian Holm, AvenueEye.com


El Segundo May Stats

$880,000

Median Sold Price

$966,000 Average Sold Price

19 Listings for Sale

8 Listings Pending

8 Listings Sold

32 Days On Market

Year Over Year

May May 2016 2017

Median Price

$800

$880

10%

Average Price Per Sq. Foot

$545

$666

22%

% Change

Properties for Sale

20

19 -5%

Properties Pending Sales

13

8 -38%

Properties Sold

8

8 0%

Days on Market (Sold Homes)

27

32 19%

Monthly Supply of Inventory

2.5

2.4 -4%

Absorption Rate (closed sales)

40

42.1 5%

$1,600

Avg. & Median Price by Month

$1,400 $3,500 $1,200 $3,000 $966

$1,000 $2,500

$880 $2,593

$800 $2,000 $1,655

$600 $1,500 $400 $1,000 $200 $500 $-$-

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Median

Average


Gardena May Stats Year Over Year

May May 2016 2017

% Change

Median Price

$449

$510

14%

Average Price Per Sq. Foot

$319

$378

18%

Properties for Sale

51

46 -10%

Properties Pending Sales

37

59 59%

Properties Sold

39

47 21%

Days on Market (Sold Homes)

51

32 -37%

Monthly Supply of Inventory

1.3

1 -23%

Absorption Rate (closed sales)

76.5

102.2 34%

$510,000

Median Sold Price

$497,000

Average Sold Price

46 Listings for Sale

Avg. & Median Price by Month $600 $3,500

59

$497 $510

$500 $3,000 $2,593

Listings Pending

$2,500 $400 $2,000 $300

$1,655

$1,500

Listings Sold

$200 $1,000

$100 $500 $- $-

47

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Median

Average

32 Days On Market


Hawthorne May Stats

$605,000

Median Sold Price

$639,000 Average Sold Price

46 Listings for Sale

43 Listings Pending

40 Listings Sold

25 Days On Market

Year Over Year

May May 2016 2017

% Change

Median Price

$500

$605

21%

Average Price Per Sq. Foot

$382

$453

19%

Properties for Sale

28

46 64%

Properties Pending Sales

41

43 5%

Properties Sold

31

40 29%

Days on Market (Sold Homes)

49

25 -49%

Monthly Supply of Inventory

0.9

1.2 33%

Absorption Rate (closed sales)

110.7 87 -21%

$800

Avg. & Median Price by Month

$700 $3,500

$639 $605

$600 $3,000

$2,593

$500 $2,500 $400 $2,000

$1,655

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

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Median

Average


Hermosa Beach May Stats Year Over Year

May May 2016 2017

Median Price Average Price Per Sq. Foot

% Change

$1,317

$1,738

32%

$979

$1,311

34%

Properties for Sale

51

48 -6%

Properties Pending Sales

16

27 69%

Properties Sold

18

22 22%

Days on Market (Sold Homes)

53

43 -19%

Monthly Supply of Inventory

2.8

2.2 -21%

Absorption Rate (closed sales) 35.3

45.8 30%

$3,500

$1,738,000 Median Sold Price

$3,007,000 Average Sold Price

48 Listings for Sale

Avg. & Median Price by Month $3,007

27

$3,000 $3,500

$3,000 $2,500 $2,593

Listings Pending

$2,500 $2,000

$1,738 $2,000 $1,655

$1,500 $1,500

Listings Sold

$1,000 $1,000

$500 $500 $- $-

22

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Median

Average

43 Days On Market


Lawndale May Stats

$508,000

Median Sold Price

$497,000

Average Sold Price

22 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$455

$508

12%

Average Price Per Sq. Foot

$363

$403

11%

Properties for Sale

11

22 100%

Properties Pending Sales

16

9 -44%

Properties Sold

12

13 8%

Days on Market (Sold Homes)

43

22 -49%

Monthly Supply of Inventory

0.9

1.7 89%

Absorption Rate (closed sales) 109.1 59.1 -46% $600

9

May May 2016 2017

$497

Avg. & Median Price by Month

$508

$3,500 $500 $3,000

$400

$2,593

$2,500

13 Listings Sold

$300 $2,000 $1,655 $1,500 $200 $1,000

$100

22 Days On Market

$500

$$-

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017

Median

Average


Lomita May Stats Year Over Year

May May 2016 2017

% Change

Median Price

$488

$586

20%

Average Price Per Sq. Foot

$337

$361

7%

Properties for Sale

26

20 -23%

Properties Pending Sales

13

19 46%

Properties Sold

13

12 -8%

Days on Market (Sold Homes)

61

40 -34%

Monthly Supply of Inventory

2

1.7 -15%

Absorption Rate (closed sales)

50

60 20%

$700

$586,000

Median Sold Price

$556,000 Average Sold Price

20 Listings for Sale

Avg. & Median Price by Month $556

$3,500 $600

$586

$3,000 $500 $2,593

19 Listings Pending

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

$300 $1,500

Listings Sold

$200 $1,000 $100 $500 $- $-

12

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Median

Average

40 Days On Market


Manhattan Beach May Stats

$2,199,000

Median Sold Price

$2,971,000 Average Sold Price

102 Listings for Sale

Year Over Year

May May 2016 2017

% Change

Median Price

$2,189

$2,199

0%

Average Price Per Sq. Foot

$1,114

$1,105

-1%

Properties for Sale

114

102 -11%

Properties Pending Sales

41

58 41%

Properties Sold

44

45 2%

Days on Market (Sold Homes)

47

46 -2%

Monthly Supply of Inventory

2.6

2.3 -12%

Absorption Rate (closed sales)

38.6 44.1 14%

Avg. & Median Price by Month

58 Listings Pending

$4,000 $3,500 $3,500

$2,971

$3,000

$3,000

$2,593

$2,500 $2,500

45 Listings Sold

46 Days On Market

$2,199

$2,000 $2,000

$1,655

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

$500 $500 $$-

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017

Median

Average


Redondo Beach May Stats Year Over Year

May May 2016 2017

% Change

Median Price

$950

$1,075

13%

Average Price Per Sq. Foot

$572

$584

2%

Properties for Sale

86

90 5%

Properties Pending Sales

74

106 43%

Properties Sold

83

78 -6%

Days on Market (Sold Homes)

37

29 -22%

Monthly Supply of Inventory

1

1.2 20%

96.5

86.7 -10%

Absorption Rate (closed sales) $1,200

$1,075,000

Median Sold Price

$1,082,000 Average Sold Price

90 Listings for Sale

Avg. & Median Price by Month $1,082 $1,075

106

$3,500 $1,000 $3,000

$800

$2,593

Listings Pending

$2,500 $2,000$600 $1,655 $1,500 $400

78 Listings Sold

$1,000

$200 $500

$-

$May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017

Median

Average

29 Days On Market


Torrance May Stats

$770,000

Median Sold Price

$826,000

Average Sold Price

97 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$733

$770

5%

Average Price Per Sq. Foot

$473

$488

3%

Properties for Sale

141

97 -31%

Properties Pending Sales

113

147 30%

Properties Sold

96

95 -1%

Days on Market (Sold Homes)

44

21 -52%

Monthly Supply of Inventory

1.5

1 -33%

Absorption Rate (closed sales)

68.1 97.9 44%

$1,000

147

May May 2016 2017

Avg. & Median Price by Month

$900 $3,500

$826 $770

$800 $3,000 $700

$2,593 $2,500 $600

95 Listings Sold

21 Days On Market

$500 $2,000 $1,655

$400 $1,500 $300 $1,000 $200 $500 $100 $-$-

May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr May 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Median

Average


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© 2015-17 RE/MAX Estate Properties


RE/MAX 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....

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