Vol. 7 | February 2021
Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities
RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International DRE# 01879720
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Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor Cities Palos Verdes Estates........................................................3 Rancho Palos Verdes........................................................4 Rolling Hills.......................................................................5 Rolling Hills Estates .........................................................6 San Pedro.........................................................................7 Wilmington.......................................................................8 Harbor City .......................................................................9
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 February 2021 are based on data available at the end of January 2021. 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.
Palos Verdes Estates JANUARY STATS Key Facts:
$4,655,000
Median Sold Price
$1,789,000
Average Sold Price
27
Listings Pending
Listings Sold
48
Days On Market
Change
$2,815
$4,655
65%
Average Price Per Sq. Foot
$663
$709
7%
Properties for Sale
42
27 -36%
Properties Pending Sales
7
12 71%
Properties Sold
8
13 63%
Days on Market (Sold Homes)
79
48 -39%
Monthly Supply of Inventory
5.3
2.1 -60%
Absorption Rate (Closed Sales) 19
48.1 153%
AVERAGE & MEDIAN PRICE $4,655
$5,000 $3,500 $4,500 $3,000 $4,000
13
2021
Median Price (in $1,000)
Listings for Sale
12
JANUARY %
JANUARY
` 2020
$1,789 $2,593
$3,500 $2,500 $3,000 $2,000 $2,500
$1,655
$1,500 $2,000 $1,500 $1,000 $1,000 $500 $500 $$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median
Average
Rancho Palos Verdes JANUARY STATS Key Facts:
$2,299,000 Median Sold Price
$1,518,000
Average Sold Price
42
Listings Pending
2020
JANUARY %
2021
Change
Median Price (in $1,000)
$1,693
$2,299
36%
Average Price Per Sq. Foot
$544
$656
21%
Properties for Sale
86
42 -51%
Properties Pending Sales
33
46 39%
Properties Sold
32
34 6%
Days on Market (Sold Homes)
58
27 -53%
Monthly Supply of Inventory
2.7
1.2 -56%
Absorption Rate (Closed Sales) 37.2
Listings for Sale
46
JANUARY
81 118%
AVERAGE & MEDIAN PRICE $2,299
$2,500 $3,500 $1,518 $3,000 $2,000
34
Listings Sold
$2,593 $2,500 $1,500 $2,000 $1,655
27
Days On Market
$1,500 $1,000 $1,000 $500 $500
$$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median
Average
Rolling Hills JANUARY STATS Key Facts:
JANUARY
` 2020 Median Price (in $1,000)
$5,600,000
Median Sold Price
$4,658,000
Average Sold Price
8
Average Price Per Sq. Foot
Listings Pending
2021
Change
$4,799
$5,600
17%
$915
$788
-14%
Properties for Sale
17
8 -53%
Properties Pending Sales
1
4 300%
Properties Sold
1
5 400%
Days on Market (Sold Homes)
44
90 105%
Monthly Supply of Inventory
17
1.6 -91%
Absorption Rate (Closed Sales) 5.9
Listings for Sale
4
Listings Sold
$8,000 $3,500 $7,000
$4,658
Days On Market
$5,600 $2,593
$2,500 $5,000 $2,000 $4,000
90
62.5 959%
AVERAGE & MEDIAN PRICE
$3,000 $6,000
5
JANUARY %
$1,655
$1,500 $3,000 $1,000 $2,000 $500 $1,000 $$-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median
Average
Rolling Hills Estates JANUARY STATS Key Facts:
$1,650,000 Median Sold Price
$1,597,000
Average Sold Price
15
Listings Pending
2020
Listings Sold
Days On Market
Change
$1,650
-6%
Average Price Per Sq. Foot
$579
$611
6%
Properties for Sale
38
15 -61%
Properties Pending Sales
23
29 26%
Properties Sold
24
20 -17%
Days on Market (Sold Homes)
47
38 -19%
Monthly Supply of Inventory
1.6
0.8 -50%
Absorption Rate (Closed Sales) 63.2 133.3 111%
AVERAGE & MEDIAN PRICE $2,000 $3,500 $1,800
$1,597 $1,650 $2,593
$1,400 $2,500 $1,200 $2,000 $1,000
38
2021
$1,750
$3,000 $1,600
20
JANUARY %
Median Price (in $1,000)
Listings for Sale
29
JANUARY
$1,655
$1,500 $800 $600 $1,000 $400 $500 $200 $$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median
Average
San Pedro JANUARY STATS Key Facts:
$679,000
Median Sold Price
$746,000
Average Sold Price
33
JANUARY
` 2020
Listings Pending
Listings Sold
$679
3%
Average Price Per Sq. Foot
$403
$483
20%
Properties for Sale
53
33 -38%
Properties Pending Sales
48
52 8%
Properties Sold
39
50 28%
Days on Market (Sold Homes)
45
20 -56%
Monthly Supply of Inventory
1.4
0.7 -50%
Absorption Rate (Closed Sales) 73.6
151.5 106%
AVERAGE & MEDIAN PRICE $3,500 $800
$746 $679 $2,593
$600 $2,500 $500 $2,000
$1,655
$400
20
Days On Market
Change
$659
$3,000 $700
50
2021
Median Price (in $1,000)
Listings for Sale
52
JANUARY %
$1,500 $300 $1,000 $200 $500 $100 $-$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median
Average
Wilmington JANUARY STATS Key Facts:
$530,000 Median Sold Price
$495,000
Average Sold Price
10
Listings Pending
2020
Listings Sold
2021
Change
$470
$530
13%
Average Price Per Sq. Foot
$387
$424
10%
Properties for Sale
17
10 -41%
Properties Pending Sales
11
13 18%
Properties Sold
12
8 -33%
Days on Market (Sold Homes)
44
23 -48%
Monthly Supply of Inventory
1.4
1.3 -7%
Absorption Rate (Closed Sales) 70.6 80 13%
AVERAGE & MEDIAN PRICE $700 $3,500
$495
$600 $3,000
8
JANUARY %
Median Price (in $1,000)
Listings for Sale
13
JANUARY
$530 $2,593
$500 $2,500 $400 $2,000
$1,655
23
Days On Market
$300 $1,500
$200 $1,000
$500 $100 $-$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median
Average
Harbor City JANUARY STATS Key Facts:
$700,000
Median Sold Price
$615,000
Average Sold Price
7
JANUARY
` 2020
Listings Pending
2021
Change
Median Price (in $1,000)
$684
$700
2%
Average Price Per Sq. Foot
$379
$401
6%
Properties for Sale
13
7 -46%
Properties Pending Sales
11
13 18%
Properties Sold
14
20 43%
Days on Market (Sold Homes)
30
18 -40%
Monthly Supply of Inventory
0.9
0.4 -56%
Absorption Rate (Closed Sales) 107.7 285.7 165%
Listings for Sale
13
JANUARY %
AVERAGE & MEDIAN PRICE $800 $615
$3,500 $700
$700
$3,000 $600
20
Listings Sold
$2,593 $2,500 $500 $2,000 $400
18
Days On Market
$1,655
$1,500 $300 $1,000 $200 $500 $100 $$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median
Average
WE A R E T HE COA ST 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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Experience isn’t expensive … it’s priceless
DRE# 00944640
S har
Far ro kh siar
mobile
(310) 200-7939
SharFarrokhsiar@gmail.com DRE# 00944640
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“ 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