Steve Kary South Bay Market Intelligence Report

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

Steve Kary

Lic# 00872041

karysteve@gmail.com | 310.420.8833 RE/MAX and I can help you relocate across the street or across the globe let me know how I can help!

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.

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.

AVERAGE PRICE PER SQUARE FOOT:

Found by taking the price of each property and dividing that by its PROPERTIES PENDING SALE: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.

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.

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 Feb. 2019 are based on data available at the end of Jan. 2019. 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.

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

El Segundo JANUARY STATS Key Facts:

$1,143,000

Median Sold Price

$1,174,000

Average Sold Price

24

JAN. JAN. % 2018 2019 Change

Median Price (in $,000)

$1,420

$1,143

-20%

Average Price Per Sq. Foot

$604

$618

2%

Properties for Sale

15

24 60%

Properties Pending Sales

9

15 67%

Properties Sold

5

8 60%

Days on Market (Sold Homes)

88

56 -36%

Monthly Supply of Inventory

3

3 0%

Absorption Rate (closed sales) 33.3 33.3 0%

Listings for Sale

15

Listings Pending

AVERAGE & MEDIAN PRICE $1,800 $3,500 $1,600 $3,000 $1,400

8

Listings Sold

56

Days On Market

$1,174

$2,500 $1,200

$1,143$2,593

$1,000 $2,000 $1,655

$800 $1,500 $600 $1,000 $400 $500 $200 $-

$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019

Median

Average

Gardena JANUARY STATS Key Facts:

$539,000

Median Sold Price

$497,000

Average Sold Price

57

JAN. 2018

Listings Pending

19

Listings Sold

28

Days On Market

% Change

Median Price (in $,000)

$452

$539

19%

Average Price Per Sq. Foot

$359

$436

21%

Properties for Sale

36

57 58%

Properties Pending Sales

29

40 38%

Properties Sold

23

19 -17%

Days on Market (Sold Homes) 39

28 -28%

Monthly Supply of Inventory

3 88%

1.6

Absorption Rate (closed sales) 63.9

Listings for Sale

40

JAN. 2019

33.3 -48%

AVERAGE & MEDIAN PRICE $700 $3,500 $600 $3,000

$497

$539 $2,593

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

$1,655

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

$-

$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019

Median

Average

Hawthorne JANUARY STATS Key Facts:

$685,000

Median Sold Price

$681,000

Average Sold Price

55

JAN. JAN. % 2018 2019 Change

Median Price (in $,000)

$575

$685

19%

Average Price Per Sq. Foot

$408

$471

15%

Properties for Sale

15

55 267%

Properties Pending Sales

28

30 7%

Properties Sold

21

21 0%

Days on Market (Sold Homes)

33

24 -27%

Monthly Supply of Inventory

0.7

2.6 271%

Absorption Rate (closed sales) 140

38.2 -73%

Listings for Sale

30

Listings Pending

AVERAGE & MEDIAN PRICE $800 $681

$3,500 $700

$685

$3,000 $600

21

Listings Sold

$2,593 $2,500 $500 $2,000$400

24

Days On Market

$1,655

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

$-

$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019

Median

Average

Hermosa Beach JANUARY STATS Key Facts:

$2,365,000 Median Sold Price

$2,954,000

Average Sold Price

43

JAN. 2018

JAN. 2019

% Change

Median Price (in $,000)

$1,343

$2,365

76%

Average Price Per Sq. Foot

$1,044

$1,278

22%

Properties for Sale

44

43 -2%

Properties Pending Sales

21

11 -48%

Properties Sold

6

10 67%

Days on Market (Sold Homes) 31

99 219%

Monthly Supply of Inventory

4.3 -41%

Absorption Rate (closed sales) 13.6 23.3 71%

Listings for Sale

11

Listings Pending

7.3

AVERAGE & MEDIAN PRICE $3,500 $2,954

$3,500

$3,000 $3,000

10

Listings Sold

$2,593 $2,365

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

$1,655

99

Days On Market

$1,500 $1,500

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

$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median

Average

Lawndale JANUARY STATS Key Facts:

$587,000

Median Sold Price

$573,000

Average Sold Price

15

Median Price (in $,000)

$522

$587

12%

Average Price Per Sq. Foot

$480

$423

-12%

Properties for Sale

8

15 88%

Properties Pending Sales

11

13 18%

Properties Sold

12

6 -50%

Days on Market (Sold Homes)

22

15 -32%

Monthly Supply of Inventory

0.7

2.5 257%

Absorption Rate (closed sales) 150

40 -73%

Listings for Sale

13

Listings Pending

JAN. JAN. % 2018 2019 Change

AVERAGE & MEDIAN PRICE $573

$700 $3,500

$587 $600 $3,000

6

$2,593

$500 $2,500

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

15

Days On Market

$1,500 $300

$1,000 $200

$500 $100

$-$-

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median

Average

Lomita JANUARY STATS Key Facts:

$529,000 Median Sold Price

$525,000

Average Sold Price

20

JAN. 2018

Listings Pending

% Change

Median Price (in $,000)

$714

$529

-26%

Average Price Per Sq. Foot

$394

$422

7%

Properties for Sale

9

20 122%

Properties Pending Sales

18

12 -33%

Properties Sold

10

5 -50%

Days on Market (Sold Homes) 21

60 186%

Monthly Supply of Inventory

0.9

4 344%

Absorption Rate (closed sales) 111.1

25 -77%

Listings for Sale

12

JAN. 2019

AVERAGE & MEDIAN PRICE $800 $3,500 $700 $3,000

5

Listings Sold

$600 $2,500

$525

$2,593

$529

$500 $2,000 $1,655

$400

60

Days On Market

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

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median

Average

Manhattan Beach JANUARY STATS Key Facts:

$2,175,000

Median Sold Price

$2,716,000

Average Sold Price

85

JAN. JAN. % 2018 2019 Change

Median Price (in $,000)

$2,270

$2,175

-4%

Average Price Per Sq. Foot

$1,140

$1,143

0%

Properties for Sale

55

85 55%

Properties Pending Sales

28

27 -4%

Properties Sold

19

20 5%

Days on Market (Sold Homes)

55

63 15%

Monthly Supply of Inventory

2.9

4.3 48%

Absorption Rate (closed sales) 34.5

23.5 -32%

Listings for Sale

27

Listings Pending

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

$3,500 $3,000

20

Listings Sold

63

Days On Market

$2,593 $2,716

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

$2,175 $1,655

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

$1,000 $500 $500 $-

$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median

Average

Redondo Beach JANUARY STATS Key Facts:

$978,000 Median Sold Price

$1,089,000

Average Sold Price

100

JAN. 2018

JAN. 2019

Median Price (in $,000)

$1,100

$978

-11%

Average Price Per Sq. Foot

$573

$641

12%

Properties for Sale

59

100 69%

Properties Pending Sales

53

77 45%

Properties Sold

45

40 -11%

Days on Market (Sold Homes) 50

39 -22%

Monthly Supply of Inventory

1.3

2.5 92%

Absorption Rate (closed sales) 76.3

40 -48%

Listings for Sale

77

Listings Pending

AVERAGE & MEDIAN PRICE $3,500 $1,400 $3,000 $1,200

40

% Change

$1,089 $978

$2,500 $1,000

$2,593

Listings Sold $2,000 $800 $1,655

39

Days On Market

$1,500 $600 $1,000 $400 $500 $200 $- $-

Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median

Average

Torrance JANUARY STATS Key Facts:

$785,000

Median Sold Price

$866,000

Average Sold Price

95

Median Price (in $,000)

$750

$785

5%

Average Price Per Sq. Foot

$495

$530

7%

Properties for Sale

61

95 56%

Properties Pending Sales

60

72 20%

Properties Sold

53

75 42%

Days on Market (Sold Homes)

36

42 17%

Monthly Supply of Inventory

1.2

1.3 8%

Absorption Rate (closed sales) 86.9 78.9 -9%

Listings for Sale

72

Listings Pending

JAN. JAN. % 2018 2019 Change

AVERAGE & MEDIAN PRICE $3,500 $1,400 $3,000 $1,200

75

Listings Sold

$2,593 $2,500 $1,000

$866

$2,000 $800

42

Days On Market

$785 $1,655

$1,500 $600 $1,000 $400 $500 $200 $-

$Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec. Jan. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 Median

Average

karysteve@gmail.com | 310.420.8833 A Portion of each closing is donated to the Childrens’ Miracle Network / Hospital LA

Lic# 00872041

Steve Kary