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Vol. 6 | July 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 • 12 Offices • Luxury Residential Commercial Investment Division • International DRE #00983568, 01219939, 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 Carson...................................................................12


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 July 2020 are based on data available at the end of June 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 JUNE STATS Key Facts:

$1,325,000

Median Sold Price

$1,232,000

Average Sold Price

16

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$1,105

$1,325

20%

Average Price Per Sq. Foot

$674

$698

4%

Properties for Sale

17

16 -6%

Properties Pending Sales

15

17 13%

Properties Sold

14

13 -7%

Days on Market (Sold Homes)

25

29 16%

Monthly Supply of Inventory

1.2

1.2 0%

Absorption Rate (Closed Sales) 82.4 81.3 -1%

Listings for Sale

AVERAGE & MEDIAN PRICE

$1,800

17

Listings Pending

$1,600

$3,500 $1,400

$3,000 $1,200

13

Listings Sold

$2,593

$2,500 $1,000

$2,000 $800

29

Days On Market

$1,655

$1,500

$600

$1,000

$400

$500

$200

$-

$Jun 2019

Jul 2019

Aug 2019

Sep 2019

Oct 2019

Dec 2019

Median

Jan Feb 2020 2020

Average

Mar 2020

Apr 2020

May 2020

Jun 2020


Gardena JUNE STATS Key Facts:

$603,000

Median Sold Price

$554,000

Average Sold Price

23

JUNE 2019

Listings Pending

22

Listings Sold

$600

$603

1%

Average Price Per Sq. Foot

$408

$394

-3%

Properties for Sale

64

23 -64%

Properties Pending Sales

41

34 -17%

Properties Sold

31

22 -29%

Days on Market (Sold Homes)

39

36 -8%

Monthly Supply of Inventory

2.1

1 -52%

Absorption Rate (Closed Sales) 48.4 95.7 98%

AVERAGE & MEDIAN PRICE $620 $3,500 $554

$600 $3,000 $580

Days On Market

$603

$2,593

$2,500

$560 $2,000 $540

36

% Change

Median Price (in $1,000)

Listings for Sale

34

JUNE 2020

$1,655

$1,500 $520

$500 $1,000 $480 $500 $460 $-

Median

Average


Hawthorne JUNE STATS Key Facts:

$720,000

Median Sold Price

$731,000

Average Sold Price

36

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$648

$720

11%

Average Price Per Sq. Foot

$471

$534

13%

Properties for Sale

49

Properties Pending Sales

30 32 7%

Properties Sold

38

27 -29%

Days on Market (Sold Homes)

37

21 -43%

Monthly Supply of Inventory

1.3

1.3 0%

Absorption Rate (Closed Sales) 77.6 75 -3%

Listings for Sale

32

Listings Pending

AVERAGE & MEDIAN PRICE $3,500$900 $731

$800

$720

$3,000 $700

27

$2,593

$2,500$600

Listings Sold $2,000

$500

$1,655

$400

21

Days On Market

36 -27%

$1,500

$300

$1,000$200 $100

$500 $-

$-

Median

Average


Hermosa Beach JUNE STATS Key Facts:

$1,938,000 Median Sold Price

$2,750,000

Average Sold Price

55

JUNE 2019

JUNE 2020

% Change

Median Price (in $1,000)

$1,775

$1,938

9%

Average Price Per Sq. Foot

$1,182

$1,264

7%

Properties for Sale

68

55 -19%

Properties Pending Sales

18

23 28%

Properties Sold

15

18 20%

Days on Market (Sold Homes)

30

33 10%

Monthly Supply of Inventory

4.5

3.1 -31%

Absorption Rate (Closed Sales) 22.1

32.7 48%

Listings for Sale

23

Listings Pending

18

AVERAGE & MEDIAN PRICE $3,000

$3,500 $2,750

$2,500 $3,000

$1,938

$2,593

$2,000 $2,500

Listings Sold $1,500 $2,000

$1,655

33

Days On Market

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

$-

Median

Average


Lawndale JUNE STATS Key Facts:

$573,000

Median Sold Price

$577,000

Average Sold Price

20

Median Price (in $1,000)

$577

$573

-1%

Average Price Per Sq. Foot

$601

$454

-24%

Properties for Sale

20

20 0%

Properties Pending Sales

15

15 0%

Properties Sold

6

12 100%

Days on Market (Sold Homes)

19

22 16%

Monthly Supply of Inventory

3.3

1.7 -48%

Absorption Rate (Closed Sales) 30

60 100%

Listings for Sale

15

Listings Pending

JUNE JUNE % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,500 $800 $577

$3,000 $700

12

Listings Sold

$573 $2,593

$600 $2,500 $500 $2,000 $400

22

Days On Market

$1,655

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

Median

Average


Lomita JUNE STATS Key Facts:

$739,000 Median Sold Price

$699,000

Average Sold Price

17

JUNE 2019

Listings Pending

$600

$739

23%

Average Price Per Sq. Foot

$404

$432

7%

Properties for Sale

17

17 0%

Properties Pending Sales

15

11 -27%

Properties Sold

19

9 -53%

Days on Market (Sold Homes)

22

19 -14%

Monthly Supply of Inventory

0.9

1.9 111%

Absorption Rate (Closed Sales) 111.8

Listings Sold

52.9 -53%

AVERAGE & MEDIAN PRICE $3,500 $900 $699

$800 $3,000

9

% Change

Median Price (in $1,000)

Listings for Sale

11

JUNE 2020

$700

$739 $2,593

$2,500 $600 $2,000 $500

19

Days On Market

$1,655

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

Median

Average


Manhattan Beach JUNE STATS Key Facts:

$2,187,000 Median Sold Price

$2,520,000 Average Sold Price

111

JUNE JUNE % 2019 2020 Change

Median Price (in $1,000)

$2,616

$2,187

-16%

Average Price Per Sq. Foot

$1,060

$987

-7%

Properties for Sale

135

111 -18%

Properties Pending Sales

37

58 57%

Properties Sold

29

30 3%

Days on Market (Sold Homes)

33

49 48%

Monthly Supply of Inventory

4.7

3.7 -21%

Absorption Rate (Closed Sales) 21.5

Listings for Sale

58 Listings Pending

27 26%

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

30 Listings Sold

$2,520 $2,593

$3,000 $2,500

$2,187

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

49

Days On Market

$1,655

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

Median

Average


Redondo Beach JUNE STATS Key Facts:

$1,136,000 Median Sold Price

$1,155,000

Average Sold Price

97

JUNE 2019

JUNE 2020

Median Price (in $1,000)

$1,150

$1,136

-1%

Average Price Per Sq. Foot

$617

$609

-1%

Properties for Sale

114

97 -15%

Properties Pending Sales

65

84 29%

Properties Sold

83

44 -47%

Days on Market (Sold Homes)

26

25 -4%

Monthly Supply of Inventory

1.4

2.2 57%

Absorption Rate (Closed Sales) 72.8

45.4 -38%

Listings for Sale

84

Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $1,600

$1,155 $1,400 $3,000

44

Listings Sold

% Change

$1,136 $2,593

$1,200 $2,500

$1,000 $2,000

$800

25

Days On Market

$1,655

$1,500

$600

$1,000 $400

$200 $500

$$-

Median

Average


Torrance JUNE STATS Key Facts:

$867,000

Median Sold Price

$987,000

Average Sold Price

104

Median Price (in $1,000)

$831

$867

4%

Average Price Per Sq. Foot

$542

$598

10%

Properties for Sale

139

104 -25%

Properties Pending Sales

92

109 18%

Properties Sold

88

86 -2%

Days on Market (Sold Homes)

25

24 -4%

Monthly Supply of Inventory

1.6

1.2 -25%

Absorption Rate (Closed Sales) 63.3 82.7 31%

Listings for Sale

109

Listings Pending

JUNE JUNE % 2019 2020 Change

AVERAGE & MEDIAN PRICE $1,200

$3,500

$987 $1,000 $3,000 $867

86

$2,593 $2,500 $800

Listings Sold $2,000

$600

24

Days On Market

$1,655

$1,500

$400 $1,000

$200 $500

$$-

Median

Average


Carson JUNE STATS Key Facts:

$563,000 Median Sold Price

$570,000

Average Sold Price

31

Listings Pending

Listings Sold

% Change

$578

$563

-3%

Average Price Per Sq. Foot

$365

$374

2%

Properties for Sale

51

31 -39%

Properties Pending Sales

34

34 0%

Properties Sold

29

20 -31%

Days on Market (Sold Homes)

24

23 -4%

Monthly Supply of Inventory

1.8

1.6 -11%

Absorption Rate (Closed Sales) 56.9 64.5 13%

AVERAGE & MEDIAN PRICE $600

$3,500

$570

$580

20

JUNE 2020

Median Price (in $1,000)

Listings for Sale

34

JUNE 2019

$3,000

$563

$560

$2,593

$2,500

$540

$2,000 $1,655

$520

23

Days On Market

$1,500

$500

$1,000

$480 $500

$460 $-

Median

Average


RE/MAX Estate Properties • 600+ Local Agents • 12 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 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....