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Vol. 6 | November 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

S har

RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

Far ro kh siar

mobile

(310) 200-7939

SharFarrokhsiar@gmail.com DRE# 00944640

Listing and Selling Properties

Full Time for more than 33 years!

“ Y O U R R E A L E S TAT E A M B A S S A D O R ”

450 Silver Spur Road | Rolling Hills Estates, CA 90274


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12 Carson...................................................................13


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 November 2020 are based on data available at the end of October 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 OCTOBER STATS Key Facts:

$1,469,000

Median Sold Price

$1,423,000

Average Sold Price

20

OCTOBER

2019

Change

$848

$1,469

73%

Average Price Per Sq. Foot

$560

$686

23%

Properties for Sale

13

20 54%

Properties Pending Sales

11

13 18%

Properties Sold

8

13 63%

Days on Market (Sold Homes)

29

20 -31%

Monthly Supply of Inventory

1.6

1.5 -6%

Absorption Rate (Closed Sales) 61.5 65 6%

AVERAGE & MEDIAN PRICE

$1,800

Listings Pending

2020

Median Price (in $1,000)

Listings for Sale

13

OCTOBER %

$3,500

$1,600

$1,400

$3,000

13

$1,200

$2,593

$2,500

Listings Sold

$1,000

$2,000 $1,655

$800

20

Days On Market

$1,500 $600

$1,000 $400

$500 $200

$-

$Oct 2019

Nov 2019

Dec 2019

Jan 2020

Feb 2020

Median

Apr 2020

May 2020

Jun Jul 2020 Aug 2020 2020

Average

Sep 2020

Oct 2020


Gardena OCTOBER STATS Key Facts:

$643,000

Median Sold Price

$622,000

Average Sold Price

29

OCTOBER

2019

Listings Pending

2020

Change

Median Price (in $1,000)

$525

$643

22%

Average Price Per Sq. Foot

$423

$436

3%

Properties for Sale

44

29 -34%

Properties Pending Sales

41

47 15%

Properties Sold

33

28 -15%

Days on Market (Sold Homes)

29

19 -34%

Monthly Supply of Inventory

1.3

1 -23%

Absorption Rate (Closed Sales) 75

Listings for Sale

47

OCTOBER %

96.6 29%

AVERAGE & MEDIAN PRICE $622

$3,500$700

$643

$3,000$600

28

$2,593 $2,500$500

Listings Sold $2,000$400 $1,655

19

Days On Market

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

$500

$-

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

Median

Average


Hawthorne OCTOBER STATS Key Facts:

$728,000

Median Sold Price

$760,000

Average Sold Price

28

OCTOBER

2019

Listings Pending

2020

Change

Median Price (in $1,000)

$789

$728

-8%

Average Price Per Sq. Foot

$525

$534

2%

Properties for Sale

39

28 -28%

Properties Pending Sales

30

42 40%

Properties Sold

31

42 35%

Days on Market (Sold Homes)

25

26 4%

Monthly Supply of Inventory

1.3

0.7 -46%

Absorption Rate (Closed Sales) 79.5 150 89%

Listings for Sale

42

OCTOBER %

AVERAGE & MEDIAN PRICE $3,500$900

$760

$800

$728

$3,000 $700

42

$2,593

$2,500

$600

Listings Sold

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

26

Days On Market

$1,500

$300

$1,000

$200

$500$100

$-

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

Median

Average


Hermosa Beach OCTOBER STATS Key Facts:

$1,795,000 Median Sold Price

$2,298,000

Average Sold Price

67

Listings Pending

2019

2020

Change

$1,851

$1,795

-3%

Average Price Per Sq. Foot

$965

$1,168

21%

Properties for Sale

60

67 12%

Properties Pending Sales

18

18 0%

Properties Sold

13

17 31%

Days on Market (Sold Homes)

48

53 10%

Monthly Supply of Inventory

4.6

3.9 -15%

Absorption Rate (Closed Sales) 21.7 25.4 17%

AVERAGE & MEDIAN PRICE $3,000

$3,500 $2,298

$2,500

$3,000

17

OCTOBER %

Median Price (in $1,000)

Listings for Sale

18

OCTOBER

$1,795

$2,593

$2,000 $2,500

Listings Sold $2,000 $1,500

53

Days On Market

$1,655

$1,500 $1,000

$1,000 $500 $500

$- $-

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

Median

Average


Lawndale OCTOBER STATS Key Facts:

$700,000

Median Sold Price

$672,000

Average Sold Price

OCTOBER

2019

Listings Pending

Change

$663

$700

6%

Average Price Per Sq. Foot

$475

$430

-9%

Properties for Sale

10

14 40%

Properties Pending Sales

7

8 14%

Properties Sold

10

20 100%

Days on Market (Sold Homes)

27

28 4%

1

0.7 -30%

Absorption Rate (Closed Sales) 100

Listings for Sale

8

2020

Median Price (in $1,000)

Monthly Supply of Inventory

14

OCTOBER %

142.9 43%

AVERAGE & MEDIAN PRICE $3,500

$672

$800

$700

$3,000 $700

20

Listings Sold

$2,593

$600 $2,500 $500

$2,000

$1,655

$400

28

Days On Market

$1,500 $300

$1,000

$200

$500 $100 $-

$-

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

Median

Average


Lomita OCTOBER STATS Key Facts:

$660,000 Median Sold Price

$677,000

Average Sold Price

18

OCTOBER

2019

Listings Pending

Listings Sold

Change

$775

$660

-15%

Average Price Per Sq. Foot

$424

$481

13%

Properties for Sale

15

18 20%

Properties Pending Sales

16

21 31%

Properties Sold

12

16 33%

Days on Market (Sold Homes)

42

12 -71%

Monthly Supply of Inventory

1.3

1.1 -15%

Absorption Rate (Closed Sales) 80

88.9 11%

AVERAGE & MEDIAN PRICE $3,500 $900

$3,000 $800

16

2020

Median Price (in $1,000)

Listings for Sale

21

OCTOBER %

$677

$2,593

$700

$660

$2,500

$600

$2,000

$500

12

Days On Market

$1,655

$400 $1,500 $300

$1,000 $200

$500 $100 $-

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

Median

Average


Manhattan Beach OCTOBER STATS Key Facts:

$2,880,000 Median Sold Price

$3,215,000 Average Sold Price

109

Listings Pending

2019

Listings Sold

Days On Market

Change

$2,880

35%

Average Price Per Sq. Foot

$1,014

$1,117

10%

Properties for Sale

101 109 8%

Properties Pending Sales

50

39 -22%

Properties Sold

23

51 122%

Days on Market (Sold Homes)

67

40 -40%

Monthly Supply of Inventory

4.4

2.1 -52%

Absorption Rate (Closed Sales) 22.8

46.8 105%

AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,215 $2,880

$2,593

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

$1,655

$2,000

40

2020

$2,129

$3,000 $3,500

51

OCTOBER %

Median Price (in $1,000)

Listings for Sale

39

OCTOBER

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

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

Median

Average


Redondo Beach OCTOBER STATS Key Facts:

OCTOBER

2019

Median Price (in $1,000)

$1,075,000 Median Sold Price

$1,166,000

Average Sold Price

86

Average Price Per Sq. Foot

Listings Pending

2020

Change

$1,096

$1,075

-2%

$636

$623

-2%

Properties for Sale

111

86 -23%

Properties Pending Sales

67

70 4%

Properties Sold

68

81 19%

Days on Market (Sold Homes)

26

26 0%

Monthly Supply of Inventory

1.6

1.1 -31%

Absorption Rate (Closed Sales) 61.3

94.2 54%

Listings for Sale

70

AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,166 $1,400 $3,000

81

Listings Sold

$1,075 $2,593

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

$1,655

$800

26

Days On Market

OCTOBER %

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

Average


Torrance OCTOBER STATS Key Facts:

$914,000

Median Sold Price

$982,000

Average Sold Price

92

Listings Pending

2019

Listings Sold

2020

Change

$800

$914

14%

Average Price Per Sq. Foot

$545

$550

1%

Properties for Sale

110

92 -16%

Properties Pending Sales

87

96 10%

Properties Sold

92

103 12%

Days on Market (Sold Homes)

36

16 -56%

Monthly Supply of Inventory

1.2

0.9 -25%

Absorption Rate (Closed Sales) 83.6 112 34%

AVERAGE & MEDIAN PRICE $1,200 $3,500 $982 $3,000 $1,000

103

OCTOBER %

Median Price (in $1,000)

Listings for Sale

96

OCTOBER

$914 $2,593

$2,500 $800 $2,000 $1,655

$600

16

Days On Market

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

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

Average


Carson OCTOBER STATS Key Facts:

$555,000 Median Sold Price

$566,000

Average Sold Price

28

Listings Pending

34

Listings Sold

2019

OCTOBER %

2020

Change

Median Price (in $1,000)

$530

$555

5%

Average Price Per Sq. Foot

$345

$405

17%

Properties for Sale

36

28 -22%

Properties Pending Sales

54

34 -37%

Properties Sold

53

34 -36%

Days on Market (Sold Homes)

33

15 -55%

Monthly Supply of Inventory

0.7

0.8 14%

Absorption Rate (Closed Sales) 147.2 121.4 -18%

Listings for Sale

34

OCTOBER

AVERAGE & MEDIAN PRICE $620 $3,500

$566

$600 $3,000 $580

$2,593

$2,500 $555

$560 $2,000 $540

15

Days On Market

$1,655

$1,500 $520 $1,000 $500 $500 $480 $$460 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


We Are T he Coast 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 310.205.0050 EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425 PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747

MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225

PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999

MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700

TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889

MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300

WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570

PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222

WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000


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S har

Far ro kh siar

mobile

(310) 200-7939

SharFarrokhsiar@gmail.com DRE# 00944640

Listing and Selling Properties

Full Time for more than 33 years!

“ Y O U R R E A L E S TAT E A M B A S S A D O R �

450 Silver Spur Road | Rolling Hills Estates, CA 90274

Profile for RE/MAX Estate Properties

Shar Farrokhsiar Market Intelligence Report South Bay  

Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community.

Shar Farrokhsiar Market Intelligence Report South Bay  

Delivering the facts and trends of the most relevant market activities as they unfold in the South Bay real estate community.