Steve Goddard Market Intelligence Reports South Bay

ESTATE PROPERTIES ESTATE PROPERTIES Sept 2016

TheSouthBay

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.

ESTAT

CalBRE# 00475933

Steve Goddard

Broker Associate | Manager | Sales Agent President of California Association of REALTORSÂŽ 2010 California Realtor of the Year

Cell: 310.367.7951 Phone: 310.376.5225

steve@stevegoddard.com stevegoddard.com

1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266

Each Office Independently Owned and Operated

ESTATE PROPERTIES ESTATE PROPERTIES

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

SANTA MONICA 620 Santa Monica Blvd. Suite B Santa Monica, CA 90401 Phone: 310.264.2225

coming soon!

MANCHESTER 7131 Manchester Blvd Westchester, CA 90045

MANHATTAN BEACH BLVD 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266 Phone: 310.376.2225

WEST LOS ANGELES 10931 W. Pico Blvd.

Los Angeles, CA 90064 Phone: 310.202.8141

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 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

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

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 Phone: 310.831.0150

SOUTH BAY 23740 Hawthorne Blvd.

2nd Floor Torrance, CA 90505 Phone: 310.378.9889

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Phone: 310.378.9494

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

Photography courtesy of Brian Holm, AvenueEye.com 424.262.7723

ESTATE PROPERTIES ESTATE PROPERTIES

SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay.

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.

This Market Intelligence Report monitors

Average Price Per Square Foot:

Manhattan Beach

Properties for Sale:

Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties Sold.

The number of properties that are for sale on the market.

Hermosa Beach

Properties Under Contract:

Redondo Beach

Properties Sold:

El Segundo Torrance Hawthorne Lawndale Lomita Gardena

The number of properties with an accepted offer however they have not closed.

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 Sept. 2016 are based on data available at the end of August 2016. 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

Manhattan Beach August Stats

$1,830,000

Median Sold Price

$2,180,000 Average Sold Price

110 Listings for Sale

Year Over Year

Aug. Aug. 2015 2016

Median Price

$1,950

$1,830

-6%

Average Price Per Sq. Foot

$1,360

$975

-28%

% Change

Properties for Sale

68

110 62%

Properties Pending Sales

31

39 26%

Properties Sold

30

39 30%

Days on Market (Sold Homes)

43

70 63%

Monthly Supply of Inventory

2.3

2.8 22%

Absorption Rate (closed sales)

44.1

35.5 -20%

Avg. & Median Price by Month

39 Listings Pending

$3,500 $3,000

$3,000 $2,500

$2,180

$2,593

$2,500 $2,000

39 Listings Sold

$1,830

$2,000 $1,655

$1,500

$1,500 $1,000

$1,000 $500

70 Days On Market

$500 $$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

Hermosa Beach August Stats Year Over Year

Aug. Aug. 2015 2016

Median Price Average Price Per Sq. Foot

% Change

$1,425

$1,771

24%

$867

$1,069

23%

Properties for Sale

40

49 23%

Properties Pending Sales

22

26 18%

Properties Sold

23

26 13%

Days on Market (Sold Homes)

61

70 15%

Monthly Supply of Inventory

1.7

1.9 12%

Absorption Rate (closed sales)

57.5

53.1 -8%

$3,000

$1,771,000

Median Sold Price

$2,408,000

Average Sold Price

49 Listings for Sale

Avg. & Median Price by Month

$3,500

$2,408

$2,500

$3,000 $2,593

$2,000

$2,500

26 Listings Pending

$1,771

$2,000 $1,500

$1,655

$1,500

26 Listings Sold

$1,000

$1,000 $500

$500 $- $-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

70 Days On Market

Redondo Beach August Stats

$963,000

Median Sold Price

$989,000 Average Sold Price

120 Listings for Sale

Year Over Year

Listings Pending

82 Listings Sold

% Change

Median Price

$795

$963

21%

Average Price Per Sq. Foot

$537

$545

1%

Properties for Sale

98

120 22%

Properties Pending Sales

69

88 28%

Properties Sold

75

82 9%

Days on Market (Sold Homes)

45

40 -11%

Monthly Supply of Inventory

1.3

1.5 15%

Absorption Rate (closed sales)

76.5

68.3 -11%

$1,200

88

Aug. Aug. 2015 2016

Avg. & Median Price by Month

$3,500

$1,009 $987

$1,000

$3,000 $2,593

$800 $2,500

$2,000

$600

$1,655

$1,500 $400

$1,000 $200

40 Days On Market

$500 $$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

El Segundo August Stats Year Over Year

Aug. Aug. 2015 2016

% Change

Median Price

$780

$1,113

43%

Average Price Per Sq. Foot

$471

$656

39%

Properties for Sale

18

23 28%

Properties Pending Sales

10

12 20%

Properties Sold

9

14 56%

Days on Market (Sold Homes)

44

51 16%

Monthly Supply of Inventory

2

1.6 -20%

Absorption Rate (closed sales)

50

60.9 22%

$1,600

$1,113,000 Median Sold Price

$1,148,000 Average Sold Price

23 Listings for Sale

Avg. & Median Price by Month

$3,500 $1,400 $1,148

$3,000 $1,200

$1,113

$2,593

12 Listings Pending

$2,500 $1,000 $2,000 $800 $1,655 $600 $1,500

Listings Sold

$400 $1,000

$200 $500

$- $-

14

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

51 Days On Market

Torrance August Stats

$725,000

Median Sold Price

$748,000

Average Sold Price

116 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$675

$725

7%

Average Price Per Sq. Foot

$435

$469

8%

Properties for Sale

190

116 -39%

Properties Pending Sales

102

129 26%

Properties Sold

103

142 38%

Days on Market (Sold Homes)

43

48 12%

Monthly Supply of Inventory

1.8

0.8 -56%

Absorption Rate (closed sales)

54.2

122.4 126%

$900

129

Aug. Aug. 2015 2016

Avg. & Median Price by Month

$3,500

$748

$800

$725

$3,000 $700 $2,593

$600 $2,500 $500

142 Listings Sold

$2,000

$1,655

$400

$1,500 $300

$1,000

$200

48 Days On Market

$500 $100 $$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

Hawthorne August Stats Year Over Year

Aug. Aug. 2015 2016

% Change

Median Price

$474

$625

32%

Average Price Per Sq. Foot

$335

$406

21%

Properties for Sale

51

43 -16%

Properties Pending Sales

37

37 0%

Properties Sold

40

39 -3%

Days on Market (Sold Homes)

36

44 22%

Monthly Supply of Inventory

1.3

1.1 -15%

Absorption Rate (closed sales)

78.4

90.7 16%

$700

$625,000

Median Sold Price

$621,000 Average Sold Price

43 Listings for Sale

Avg. & Median Price by Month $621

$3,500

$625

$600

$3,000 $500

$2,593

37 Listings Pending

$2,500 $400

$2,000 $1,655

$300

$1,500

39 Listings Sold

$200

$1,000

$100

$500

$-$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

44 Days On Market

Lawndale August Stats

$499,000

Median Sold Price

$503,000 Average Sold Price

9 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$449

$499

11%

Average Price Per Sq. Foot

$352

$332

-6%

Properties for Sale

31

9 -71%

Properties Pending Sales

10

17 70%

Properties Sold

12

14 17%

Days on Market (Sold Homes)

64

49 -23%

Monthly Supply of Inventory

2.6

0.6 -77%

Absorption Rate (closed sales)

38.7

155.6 302%

$600

17

Aug. Aug. 2015 2016

Avg. & Median Price by Month

$3,500

$503

$499

$500

$3,000 $2,593

$400

$2,500

14 Listings Sold

$2,000 $300

$1,655

$1,500 $200

$1,000 $100

49 Days On Market

$500 $$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

Lomita August Stats Year Over Year

Aug. Aug. 2015 2016

% Change

Median Price

$542

$621

15%

Average Price Per Sq. Foot

$330

$361

9%

Properties for Sale

27

13 -52%

Properties Pending Sales

20

13 -35%

Properties Sold

10

21 110%

Days on Market (Sold Homes)

69

55 -20%

Monthly Supply of Inventory

2.7

0.6 -78%

Absorption Rate (closed sales)

37

161.5 336%

$700

Avg. & Median Price by Month

$3,500

$613 $621

$600

$3,000 $500

$2,593

$621,000

Median Sold Price

$613,000 Average Sold Price

13 Listings for Sale

13 Listings Pending

$2,500 $400

$2,000 $1,655

$300

$1,500

21 Listings Sold

$200

$1,000

$100

$500

$- $-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

55 Days On Market

Gardena August Stats

$492,000

Median Sold Price

$452,000

Average Sold Price

79 Listings for Sale

Year Over Year

Listings Pending

% Change

Median Price

$405

$492

21%

Average Price Per Sq. Foot

$342

$370

8%

Properties for Sale

58

79 36%

Properties Pending Sales

39

52 33%

Properties Sold

37

31 -16%

Days on Market (Sold Homes)

42

38 -10%

Monthly Supply of Inventory

1.6

2.5 56%

Absorption Rate (closed sales)

63.8

39.2 -39%

$600

52

Aug. Aug. 2015 2016

Avg. & Median Price by Month

$3,500 $500

$452

$492

$3,000 $2,593

$400

$2,500

31

$2,000 $300

Listings Sold

$200

$1,655 $1,500

$1,000 $100

38 Days On Market

$500 $-

$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016

Median

Average

ESTATE PROPERTIES ESTATE PROPERTIES

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© 2016 RE/MAX Estate Properties

CalBRE# 00475933

Steve Goddard

Broker Associate | Manager | Sales Agent President of California Association of REALTORSÂŽ 2010 California Realtor of the Year

Cell: 310.367.7951 Phone: 310.376.5225

steve@stevegoddard.com stevegoddard.com

1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266

Each Office Independently Owned and Operated