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