Matthew Powers Market Intelligence Report South Bay

SOUTH BAY Matthew Powers, MBA

Market Market Intelligence Intelligence Report

REALTOR®

Volume 7 | November 2021

Cell (310) 280-6083 E-Mail MpowersRealty@gmail.com MPowersRealty.com DRE# 02057166

“A ship is always safe at shore but that is not what it’s built for”

1 2 4 Wa s h in g t o n B lv d .

Ma r in a De l R e y, C A 9 0 2 9 2

SOUTH BAY MARKETS Carson

4

El Segundo

6

Gardena

8

Hawthorne

10

Hermosa Beach

12

Hollywood Riviera

14

Lawndale

16

Lomita

18

Manhattan Beach

20

Redondo Beach

22

Torrance

24

REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.

PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.

PROPERTIES FOR SALE: The total number of available properties for sale.

DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.

SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s Market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s Market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from previous month exceed current inventory.

The South Bay Market Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2021.

CARSON Located just 13 miles south of downtown Los Angeles, Carson is the newest incorporated city in the South Bay region. Carson is home to California State University, Dominguez Hills. With more than 120 acres of green space dedicated to outdoor recreation and an expansive sports complex for soccer, tennis, and track and field, Carson offers plentiful opportunities to soak in the California sunshine. Bordered by West Rancho Dominguez, Compton, Rancho Domiguez, and Long Beach, Carson residents enjoy close proximity to South Bay beaches and industrial and tech hubs while offering a warm and inviting suburban lifestyle.

ATTRACTIONS • Carson Park • Dignity Health Sports Park • International Printing Museum

RESTAURANTS • Gnome Village

• Rosario's Italian Restaurant

• Darrow's New Orleans Grill

• Go Kart World

• Chinollo

• Back Home in Lahaina

• Anderson Park

• Hiccups Tea House

• Orleans & York Deli

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

60

45

$715K

10

$460

75%

2020

84

38

$555K

8

$411

45%

PERCENT CHANGE

-29%

+18%

+29%

+25%

+12%

+66%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $555,000

84

$582,500

$631,000

$672,000 $601,000

$630,000

$650,000

$665,000

70 38

40

38

26

27

Jan-21

Feb-21

22

Oct-20

Nov-20

Dec-20

49

47

46

42

Mar-21

50

41

Apr-21

46

47

May-21

$705,000

60

49

Jun-21

$675,000

49

59

Jul-21

$672,000

$742,500

74

66

$715,000

60

42

42

45

Aug-21

Sep-21

Oct-21

EL SEGUNDO If beachside living and small-town charms with a growing community of businesses sounds appealing, then look no further than El Segundo.

This hidden beachside gem is quickly becoming an economic powerhouse. With the Los Angeles Airport (LAX) right next door and easy connections to major freeways and metro stops, local and global travel is a breeze. Recognized as the aerospace capital in the world, this community is home to leaders in aerospace and defense, bioscience, information technology, energy, and creative media. El Segundo also offers thriving cultural experiences in sports, culture, fine dining and more.

ATTRACTIONS

RESTAURANTS

• Dockweiler Beach

• R6 Distillery

• Jame Enoteca

• Britt's BBQ

• Old Town Music Hall

• Automobile Driving Museum

• Ali'i Fish Company

• Ensenada's Surf & Turf

• The Lakes at El Segundo

• El Segundo Parks & Rec

• Caló Kitchen + Tequila

• Salt Creek Grille

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

21

7

$925K

13

$724

33%

2020

41

13

$1.47M

17

$671

32%

PERCENT CHANGE

-49%

-46%

-37%

-24%

+8%

+5%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $1,781,750

$1,733,222 $1,517,500

$1,469,000

$1,545,500 $1,365,000

$1,214,500

$1,200,000

$1,180,000

$1,575,000

$1,518,750

$1,437,500

$925,000

41

31 13

13

Oct-20

Nov-20

17

16

Dec-20

10

12

Jan-21

19

9

Feb-21

16

14

Mar-21

23

13

Apr-21

21

14

May-21

21

17

Jun-21

22

16

Jul-21

22

25 13

16

Aug-21

Sep-21

21 7

Oct-21

GARDENA Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes to downtown Los Angeles and 20 minutes to Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without it's own activities, Gardena has several parks, several enticing restaurants, two card rooms, and more. Between the city and Torrance to the south, there are many opportunities for employment in industrial industries. Gardena also boasts easy freeway access to the 110, 105, and 405, residents are able to travel explore all that Los Angeles has to offer.

ATTRACTIONS

RESTAURANTS

• Rowley Memorial Park

• Arthur Lee Johnson Park

• Spoon House Bakery

• Jin Jja Roo

• Thornburg Park

• Gardena Bowl

• Kotohira Restaurant

• Fukagawa

• Mas Fukai Park

• Alondra Golf Course

• O' Young's Rock Pot

• Grand Fish Tacos & Ceviche

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

46

46

$715K

9

$484

100%

2020

91

29

$655K

8

$462

32%

PERCENT CHANGE

-49%

+59%

+9%

+13%

+5%

+214%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $655,000

91

$610,000

$590,000

$635,000

$627,400

$680,000

$724,000

$706,500 $650,000

$650,000

$684,500

$690,000

$715,000

84 66

29

Oct-20

39

49

50 36 19

Nov-20

Dec-20

Jan-21

45

43

39 28

25

Feb-21

Mar-21

53

Apr-21

40

38

May-21

48 35

Jun-21

43

49

39

36

39

Jul-21

Aug-21

Sep-21

46

46

Oct-21

HAWTHORNE Founded in 1905 and incorporated in 1922, Hawthorne is pleasantly nestled in the South Bay with easy access to work, travel, and play.

Surrounded by the 405, 110, and 105 freeways, residents have easy access to all that Greater Los Angeles has to offer. Hawthorne boasts several top companies including SpaceX, Tesla, The Boring Company, Northrop Corporation, OSI Systems, and Century Media Records. For those looking for a family-oriented neighborhood in a thriving community, Hawthorne is a great place to call home.

ATTRACTIONS

RESTAURANTS

• Eucalyptus Skate Park

• Hawthorne Memorial Park

• Jim Thorpe Park

• Hawthorne Municipal Airport • Zacatecas

• Star Helicopters

• Bossa Nova

• Hummus House

• India's Tandoori Halal • Common Space Brewery • Los Angeles Ale Works

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

47

43

$810K

15

$610

91%

2020

71

41

$730K

9

$559

58%

PERCENT CHANGE

-34%

+5%

+11%

+67%

+9%

+58%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $730,000

$761,600

$840,000

$810,000 $725,000

$831,000

$835,000

$870,000

$880,000 $799,000

$740,000

$790,000

$810,000

47

47

71 41

Oct-20

49 35

Nov-20

41 25

Dec-20

32

31

18

15

Jan-21

Feb-21

15

33

Mar-21

38

39

Apr-21

37

42

41

27

May-21

Jun-21

58

50 29

31

Jul-21

Aug-21

37

Sep-21

43

Oct-21

HERMOSA BEACH Hermosa Beach, home of the casual surfer lifestyle, twenty parks, and 1.8 miles of Pacific Ocean perfection. Nestled between Redondo Beach and Manhattan Beach, residents in Hermosa Beach can often be found enjoying favorite coastal pastimes, walking along the pier, playing outdoor sports such as tennis and baseball, enjoying fresh produce at the farmer's market or trying new fare at one of the many restaurants.

Area real estate is almost exclusively single-family homes, often designed with floor-to-ceiling windows to take advantage of the views. For those seeking coastal breezes, laid back atmosphere, and a nice distance from the city hustle, Hermosa Beach is the place.

ATTRACTIONS

RESTAURANTS

• Hermosa Beach and Pier

• The Farmer's Market

• Zane's Steakhouse

• Fritto Misto

• The Strand

• South Park

• Palmilla Cocina y Tequila

• Dia de Campo

• The Comedy Club

• Noble Park

• Gum Tree

• Chef Melba's Bistro

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

40

18

$2.11M

13

$978

45%

2020

58

17

$1.80M

28

$945

29%

PERCENT CHANGE

-31%

+6%

+17%

-54%

+4%

+54%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $2,400,000 $2,050,000 $1,795,000

$1,871,500

17

Oct-20

$1,850,000

58

53 41 13

Nov-20

Dec-20

14

17

Jan-21

Feb-21

51

50

43

38 24

$2,082,500

$1,885,000

60

58

$2,350,000 $2,082,500

28

29

Mar-21

Apr-21

$2,047,500

48

May-21

$2,000,005

44

32 21

$2,222,222

45

Jun-21

Jul-21

40

33

20

Aug-21

$2,105,000

19

18

Sep-21

Oct-21

HOLLYWOOD RIVIERA Hollywood Riviera, coined by developer Clifford Reid in 1927, got its name from bearing a resemblance to the French Riviera and on the dream of utilizing the area's natural setting for Hollywood's silver screens. The area is bordered by Palos Verdes Estates to the south and Redondo Beach and Torrance to the north. Outdoor amenities include the famous Riviera Village, a pedestrian friendly district for galleries, shopping, dining, a weekly Farmer's Market, and more as well as Torrance Beach, Rat Beach, and several parks. Commuters have direct access to Highway 1 and State Routes 107 and 213.

ATTRACTIONS

RESTAURANTS

• Torrance Beach

• Riviera Village

• Bettolino Kitchen

• Gabi James

• Rat Beach

• El Retiro Park

• Riviera House

• The Hook & Plow

• Miramar Park

• Los Arboles Rocketship Park

• Little Sister

• TNT Aloha Cafe

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

14

17

$1.63M

11

$818

121%

2020

23

8

$1.50M

7

$657

35%

PERCENT CHANGE

-39%

+113%

+8%

+57%

+25%

+249%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $1,500,000

23

$1,625,000

$1,700,000 $1,549,000 $1,388,500

22

20 8

10

Oct-20

Nov-20

22

21 5

Dec-20

11

Jan-21

$1,675,000 $1,420,000

22

15

7

Feb-21

Mar-21

19 10

Apr-21

$1,775,000 $1,625,000

$1,425,000

$1,402,500

20

$1,855,250

$1,701,500

25 15

16

May-21

Jun-21

16

14

Jul-21

17

10

Aug-21

14

13

Sep-21

14

17

Oct-21

LAWNDALE Lawndale, California - a beautiful city and community located south of Hawthorne and west of Gardena. The city's close proximity to the beach allows residents to enjoy the marine layer almost identical to that of Manhattan Beach and El Segundo, while in quieter location away from the beach popularity. The city is split diagonally by the 405 freeway, affording convenient access points for commuters. Recreation activities include a golf course and neighboring park that hosts year round family-friendly activities. Local employment opportunities are available in aerospace, oil, and professional services, as well as commuting across the greater metro area.

ATTRACTIONS

RESTAURANTS

• Alondra Park & Golf Course

• Jane Addams Park

• Ensenada's Surf N Turf Grill

• El Amigo

• Rudolph Park

• Hawthorne Boulevard

• Havana Mania

• Saigon Dish

• Roger Anderson Park

• LA Rugby Club

• Pacific Rim Thai Kitchen

• Corner Burger

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

19

18

$718K

14

$509

95%

2020

20

19

$700K

8

$426

95%

PERCENT CHANGE

-5%

-5%

+3%

+75%

+19%

+0%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $820,000

$765,000 $701,750

$700,000 $625,000

$610,000 $535,000

20

19

23

16 7

Oct-20

$740,000

Nov-20

12

Dec-20

6

13

Jan-21

8

Feb-21

$717,500

$625,000

$594,500

16

$710,000

$691,500

10

16

Mar-21

12

14

Apr-21

20

17

23 14

18

5

May-21

Jun-21

Jul-21

22

20

19

11

9

Aug-21

Sep-21

18

Oct-21

LOMITA From a simple ranch house to a sleepy narrow gauge electric railroad stop and a handful of roads named after trees and fruits, Lomita has grown into a small city that, in spite of its growth, has maintained its rustic, small-town flavor. The Lomita railroad museum still stands today as a testament to the city's history. Lomita might be one of the smallest cities in the area, and this fact is part of the area charm. As with Neighboring cities, residents have access to an eclectic blend of restaurants, recreation opportunities, and major commuting freeways. Real estate offerings are a blend of single-family and attached homes that are perfect for families, professionals, and investors.

ATTRACTIONS

RESTAURANTS

• Lomita Railroad Museum

• Hathaway Park

• King Poke

• Harry's Oklahoma BBQ

• Lomita Park

• Veterans Park

• Bites and Bashes Cafe

• Pinky's Hot Box

• Lomita Library

• Planet Escape Room

• The Nook Breakfast Spot

• Lomita's Best

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

27

11

$777K

13

$490

41%

2020

45

16

$660K

6

$474

36%

PERCENT CHANGE

-40%

-31%

+18%

+117%

+3%

+15%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $999,500

$659,500

$729,000

$732,000

$789,950

$850,000 $723,500

$754,500

$770,500

$839,625

$875,500

$799,000

$777,000

45 33 16

20

16

22 8

Oct-20

Nov-20

Dec-20

12

Jan-21

18

14

Feb-21

16

22 12

Mar-21

14

Apr-21

20

20

May-21

26 18

14

Jun-21

14

27

25

12

10

10

11

Jul-21

Aug-21

Sep-21

Oct-21

MANHATTAN BEACH Manhattan Beach is a South Bay hotspot for outdoor enthusiasts, families, and anyone who dreams of waking up to sunny beachside views every morning. The over two miles of coastline offer residents year round opportunities for relaxation, rejuvenation, and a plethora of opportunities for shopping and dining with a view. Head a few streets inland for parks, gardens, golfing and access Highway 1. Located just south of the Los Angeles airport and an hour to Downtown Los Angeles, residents enjoy convenient access to work and enjoying what the greater area has to offer.

ATTRACTIONS • Roundhouse Aquarium

RESTAURANTS • Polliwog Park & Manhattan Beach Botanical Garden

• The Strand Bike Path

• The Strand House

• The Arthur J

• Jute Coastal Bar + Kitchen

• Zinc

• Simmzy's

• Nick's Manhattan Beach

• Bruce's Beach • Manhattan Beach Art Center

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

73

41

$3.50M

9

$1,350

56%

2020

121

51

$2.88M

24

$1,091

42%

PERCENT CHANGE

-40%

-20%

+22%

-63%

+24%

+33%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $3,382,500 $3,075,000

$2,880,000 $2,375,000

121

$2,585,000

108

Oct-20

43

Nov-20

58

45

Dec-20

55

120

106

18

27

Jan-21

Feb-21

$3,500,000

$3,350,000 $2,765,000

96 51

$3,129,375

$3,358,000 $2,988,000

104

98

42

48

52

57

Mar-21

Apr-21

May-21

Jun-21

$3,187,500 $2,787,500

84 45

Jul-21

74

87 54

Aug-21

73 42

41

Sep-21

Oct-21

REDONDO BEACH Located at the start of Los Angele's County's coastal edge, 20 miles south of downtown Los Angeles and seven miles south of Los Angeles International Airport, Redondo Beach is a premier beachfront destination. The city offers year round beach days, high end shopping and dining, pristine parks, and gorgeous waterfront properties. Local opportunities can be found in the northern industrial complex anchored by Northrop Grumman as well as in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water as well as a short walk or drive away from the water's edge.

ATTRACTIONS

RESTAURANTS

• Seaside Lagoon

• Hopkins Wilderness Park

• Bluewater Grill

• Pura Vita

• South Bay Galleria

• Veterans Park

• Sea Level Restaurant

• Maderos Cocina Mexicana

• Redondo Beach Marina

• RB Performing Arts Center

• The Standing Room

• Hudson House

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

83

96

$1.37M

10

$752

116%

2020

177

88

$1.08M

13

$621

50%

PERCENT CHANGE

-53%

+9%

+27%

-23%

+21%

+133%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $1,310,000 $1,077,000

$1,175,000

$1,241,000

$1,237,500

$1,339,000

$1,300,000

$1,333,500

$1,342,500

$1,300,000

$1,311,000

$1,380,000

$1,366,000

177 133 88

Oct-20

87

Nov-20

86

74

Dec-20

107 100

95 62

60

Jan-21

Feb-21

47

Mar-21

116

94

Apr-21

91

90

May-21

116

96

Jun-21

110

98

Jul-21

103

82

Aug-21

104

78

Sep-21

83

96

Oct-21

TORRANCE Torrance is the eight largest city in Los Angeles County, and as such, provides an abundance of lifestyle experiences. Choose to live by the beach, slightly further inland, or in a more suburban setting. Torrance has something for everyone — traditional and luxury, homes, condos, and townhomes. In Torrance, year round local events, Recreation parks, museums, shopping, and a plethora of authentic cuisine are all a short distance away. Torrance is also home to El Camino College and a robust collection of industries. Aviation enthusiasts can find home at Zamperini field, a municipal airport primarily for private aircraft and instruction.

ATTRACTIONS

RESTAURANTS

• Torrance Beach

• Columbia Park

• The San Franciscan

• Madre

• Zamperini Field

• Torrance Art Museum

• King Hawaiian Bakery

• Shrimp By You

• Madronna Marsh Preserve

• Charles Wilson Park

• Silog

• Din Tai Fung

MARKET SUMMARY

OCTOBER 2021 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

112

111

$970K

9

$624

99%

2020

228

120

$836K

8

$528

53%

PERCENT CHANGE

-51%

-8%

+16%

+13%

+18%

+88%

OCTOBER

2021 OCTOBER

13-MONTH TRENDS $835,750

$876,500

$950,000 $799,000

$817,500

$829,300

$895,000

$870,500

$880,000

$910,000

$902,500

115 121

124

$830,000

$970,000

228 192 120

104

102

123 55

Oct-20

Nov-20

Dec-20

78

Jan-21

110

105

131

138 106

129

118

107

126

142 137

146 112 111

74

Feb-21

Mar-21

Apr-21

May-21

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050

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

EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425

REDONDO BEACH 1901 S. Catalina Avenue Redondo Beach, CA 90277 310.378.7747

PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

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

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266 310.376.2225

TORRANCE 23740 Hawthorne Blvd.

Torrance, CA 90505 310.378.9889

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

WEST LOS ANGELES 10500 W. Pico Blvd.

Los Angeles, CA 90064 310.559.5570

MARINA DEL REY / VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292 310.577.5300

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

W E A R E T H E COA S T

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Matthew Powers, MBA REALTOR®

Cell (310) 280-6083 E-Mail MpowersRealty@gmail.com MPowersRealty.com DRE# 02057166

“A ship is always safe at shore but that is not what it’s built for”

1 2 4 Wa s h in g t o n B lv d .

Ma r in a De l R e y, C A 9 0 2 9 2