Page 1

Vol. III November 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.


700+ 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 November 2017 are based on data available at the end of October 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 October Stats

$1,050,000

Median Sold Price

$1,086,000 Average Sold Price

19 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

Median Price

$988

$1,050

6%

Average Price Per Sq. Foot

$596

$678

14%

% Change

Properties for Sale

27

19 -30%

Properties Pending Sales

16

12 -25%

Properties Sold

12

15 25%

Days on Market (Sold Homes)

38

45 18%

Monthly Supply of Inventory

2.3

1.3 -43%

Absorption Rate (closed sales)

44.4 78.9 78%

Avg. & Median Price by Month

12 Listings Pending

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

$1,086

$1,050 $2,593

$2,500 $1,000

15 Listings Sold

45

$2,000 $800 $1,655

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

Days On Market Median

Average


Gardena October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$485

$510

5%

Average Price Per Sq. Foot

$349

$401

15%

Properties for Sale

63

53 -16%

Properties Pending Sales

36

47 31%

Properties Sold

45

40 -11%

Days on Market (Sold Homes)

31

32 3%

Monthly Supply of Inventory

1.4

1.3 -7%

Absorption Rate (closed sales)

71.4 75.5 6%

$510,000

Median Sold Price

$502,000

Average Sold Price

53 Listings for Sale

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

47

$502 $510

$3,000 $500

$2,593

Listings Pending

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

$300 $1,500

40 Listings Sold

$200 $1,000

$100 $500

32

$- $-

Days On Market Median

Average


Hawthorne October Stats

$585,000

Median Sold Price

$631,000 Average Sold Price

39 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$578

$585

1%

Average Price Per Sq. Foot

$395

$423

7%

Properties for Sale

55

39 -29%

Properties Pending Sales

36

28 -22%

Properties Sold

33

47 42%

Days on Market (Sold Homes)

26

26 0%

Monthly Supply of Inventory

1.7

0.8 -53%

Absorption Rate (closed sales)

60

120.5 101%

Avg. & Median Price by Month

28 Listings Pending

$3,500$800

$700 $3,000

$631 $585 $2,593

$600 $2,500 $500

47 Listings Sold

26

$2,000 $1,655

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

$-

Days On Market Median

Average


Hermosa Beach October Stats Year Over Year

Oct. Oct. 2016 2017

Median Price Average Price Per Sq. Foot

% Change

$1,975

$1,401

-29%

$993

$1,043

5%

Properties for Sale

49

40 -18%

Properties Pending Sales

22

23 5%

Properties Sold

23

18 -22%

Days on Market (Sold Homes)

60

57 -5%

Monthly Supply of Inventory

2.1

2.2 5%

Absorption Rate (closed sales) 46.9

45 -4%

$3,500

$1,401,000 Median Sold Price

$2,301,000 Average Sold Price

40 Listings for Sale

Avg. & Median Price by Month

23

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

$2,301

$2,500

$2,593

Listings Pending

$2,500

$2,000 $2,000 $1,655 $1,401

$1,500 $1,500

18 Listings Sold

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

57

$- $-

Days On Market Median

Average


Lawndale October Stats

$513,000

Median Sold Price

$508,000

Average Sold Price

14 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$411

$513

25%

Average Price Per Sq. Foot

$432

$400

-7%

Properties for Sale

16

14 -13%

Properties Pending Sales

7

20 186%

Properties Sold

8

16 100%

Days on Market (Sold Homes)

36

46 28%

Monthly Supply of Inventory

2

0.9 -55%

Absorption Rate (closed sales)

50

114.3 129%

Avg. & Median Price by Month

20 Listings Pending

$3,500 $700

$508

$3,000 $600

$513 $2,593 $2,500 $500

16 Listings Sold

46

$2,000 $400 $1,655 $1,500 $300

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

Days On Market Median

Average


Lomita October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$630

$573

-9%

Average Price Per Sq. Foot

$410

$385

-6%

Properties for Sale

22

16 -27%

Properties Pending Sales

11

14 27%

Properties Sold

7

14 100%

Days on Market (Sold Homes)

98

24 -76%

Monthly Supply of Inventory

3.1

1.1 -65%

Absorption Rate (closed sales)

31.8

87.5 175%

$573,000

Median Sold Price

$600,000 Average Sold Price

16 Listings for Sale

Avg. & Median Price by Month

14

$3,500 $700

$600

$3,000 $600

$573 $2,593

Listings Pending

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

$1,655

$1,500 $300

14 Listings Sold

$1,000 $200

$100 $500

24

$- $-

Days On Market Median

Average


Manhattan Beach October Stats

$3,188,000

Median Sold Price

$3,292,000 Average Sold Price

93 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$2,250

$3,188

42%

Average Price Per Sq. Foot

$1,007

$1,105

10%

Properties for Sale

94

93 -1%

Properties Pending Sales

30

40 33%

Properties Sold

41

26 -37%

Days on Market (Sold Homes)

42

75 79%

Monthly Supply of Inventory

2.3

3.6 57%

Absorption Rate (closed sales)

43.6

28 -36%

Avg. & Median Price by Month

40 Listings Pending

$3,500 $4,000

$3,292

$3,000 $3,500

$3,188 $2,593

$3,000 $2,500

26 Listings Sold

75

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

$2,000 $1,500

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

Days On Market Median

Average


Redondo Beach October Stats Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$891

$1,063

19%

Average Price Per Sq. Foot

$539

$573

6%

Properties for Sale

98

110 12%

Properties Pending Sales

76

79 4%

Properties Sold

66

62 -6%

Days on Market (Sold Homes)

39

31 -21%

Monthly Supply of Inventory

1.5

1.8 20%

Absorption Rate (closed sales)

67.3

56.4 -16%

$1,063,000

Median Sold Price

$1,152,000 Average Sold Price

110 Listings for Sale

Avg. & Median Price by Month

79

$3,500

$1,400 $3,000

$1,152

$1,200

$2,593 $1,063

$2,500 $1,000 $2,000 $800

$1,655

$1,500 $600

Listings Pending

62 Listings Sold

$1,000$400

$200 $500

31

$- $-

Days On Market Median

Average


Torrance October Stats

$796,000

Median Sold Price

$831,000

Average Sold Price

86 Listings for Sale

Year Over Year

Oct. Oct. 2016 2017

% Change

Median Price

$728

$796

9%

Average Price Per Sq. Foot

$472

$503

7%

Properties for Sale

109

86 -21%

Properties Pending Sales

96

91 -5%

Properties Sold

96

94 -2%

Days on Market (Sold Homes)

35

29 -17%

Monthly Supply of Inventory

1.1

0.9 -18%

Absorption Rate (closed sales)

88.1 109.3 24%

Avg. & Median Price by Month

91 Listings Pending

$1,000 $3,500 $831

$900 $3,000 $800

$796 $2,593

$2,500 $700

94 Listings Sold

$600 $2,000 $500

$1,655

$1,500 $400

$300 $1,000 $200

29

$500 $100 $-

$-

Days On Market Median

Average


ESTATE PROPERTIES

CONNECT WITH US f RE/MAXEstateProperties z EPLAHomes t@remaxepla i RE/MAX Estate Properties c@REMAXEPLA

+ REMAXEstateProperties

premaxepla

© 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....