Brian Swope Market Intelligence Report South Bay

Vol. 5 | September 2019

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

RE/MAX Estate Properties 650+ Local Agents • 14 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

BRIAN SWOPE Y O U R R E A L E S TAT E E X P E R T R E A LT O R | C A L B R E # 0 1 9 4 6 7 6 9

2 3 7 4 0 H a w t h o r n e B l v d , 2 n d Fl oor | Torrance, C A 90505 e : b ri a n @ S o u t h B a y H o m e s360.com

w: www.S out hBayH omes360.com

d : 310-987-1362

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

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 September 2019 are based on data available at the end of August 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.

El Segundo AUGUST STATS Key Facts:

$1,590,000

Median Sold Price

$1,592,000

Average Sold Price

19

AUG AUG % 2018 2019 Change

Median Price (in $,000)

$1,220

$1,590

30%

Average Price Per Sq. Foot

$664

$689

4%

Properties for Sale

26

19 -27%

Properties Pending Sales

12

11 -8%

Properties Sold

17

8 -53%

Days on Market (Sold Homes)

39

65 67%

Monthly Supply of Inventory

1.5

2.4 60%

Absorption Rate (closed sales) 65.4

42.1 -36%

Listings for Sale

AVERAGE & MEDIAN PRICE $1,800

11

Listings Pending

$1,592

$1,590

$3,500 $1,600 $1,400 $3,000

8

Listings Sold

$2,593

$1,200

$2,500

$1,000

$2,000 $1,655

$800

65

Days On Market

$1,500 $600

$1,000

$400

$500$200

$-

$Aug. 2018

Sept.

2018

Oct. 2018

Nov. 2018

Dec. 2018

Jan. 2019

Median

Feb. 2019

Mar. 2019

Average

Apr. 2019

May 2019

June 2019

July 2019

Aug. 2019

Gardena AUGUST STATS Key Facts:

$565,000

Median Sold Price

$542,000

Average Sold Price

50

AUG 2018

Listings Pending

% Change

Median Price (in $,000)

$535

$565

6%

Average Price Per Sq. Foot

$404

$413

2%

Properties for Sale

65

50 -23%

Properties Pending Sales

44

42 -5%

Properties Sold

39

45 15%

Days on Market (Sold Homes) 36

33 -8%

Monthly Supply of Inventory

1.7

1.1 -35%

Absorption Rate (closed sales) 60

90 50%

Listings for Sale

42

AUG 2019

AVERAGE & MEDIAN PRICE $3,500$620 $600

$3,000

45

$580

$2,593

$565

$2,500

$542

$560

Listings Sold

$2,000$540 $1,655

33

Days On Market

$520

$1,500

$500

$1,000 $480

$500$460 $-

$440 Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019

Median

Average

Hawthorne AUGUST STATS Key Facts:

$700,000

Median Sold Price

$705,000

Average Sold Price

45

AUG AUG % 2018 2019 Change

Median Price (in $,000)

$715

$700

-2%

Average Price Per Sq. Foot

$550

$495

-10%

Properties for Sale

29

45 55%

Properties Pending Sales

27

37 37%

Properties Sold

41

27 -34%

Days on Market (Sold Homes)

16

27 69%

Monthly Supply of Inventory

0.7

1.7 143%

Absorption Rate (closed sales) 141.4

60 -58%

Listings for Sale

37

Listings Pending

AVERAGE & MEDIAN PRICE $800

$3,500

$705 $700

$700

$3,000

27

Listings Sold

$600

$2,593

$2,500 $500

$2,000 $400

27

Days On Market

$1,655

$1,500

$300

$1,000 $200 $100 $500

$-

$Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019

Median

Average

Hermosa Beach AUGUST STATS Key Facts:

$1,620,000 Median Sold Price

$2,112,000

Average Sold Price

67

AUG 2018

AUG 2019

% Change

Median Price (in $,000)

$1,975

$1,620

-18%

Average Price Per Sq. Foot

$1,115

$952

-15%

Properties for Sale

64 67 5%

Properties Pending Sales

16

19 19%

Properties Sold

18

19 6%

Days on Market (Sold Homes) 23

54 135%

Monthly Supply of Inventory

3.5 -3%

Absorption Rate (closed sales) 28.1 28.4 1%

Listings for Sale

19

Listings Pending

3.6

AVERAGE & MEDIAN PRICE $3,500

$3,500 $3,000

$3,000

19

Listings Sold

$2,500

$2,112$2,593

$2,500 $2,000

$2,000

$1,620

$1,655

$1,500

54

Days On Market

$1,500

$1,000

$1,000

$500

$500

$-$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019

Median

Average

Lawndale AUGUST STATS Key Facts:

$583,000

Median Sold Price

$577,000

Average Sold Price

9

AUG AUG % 2018 2019 Change

Median Price (in $,000)

$549

$583

6%

Average Price Per Sq. Foot

$365

$440

21%

Properties for Sale

16

9 -44%

Properties Pending Sales

11

19 73%

Properties Sold

15

18 20%

Days on Market (Sold Homes)

39

31 -21%

Monthly Supply of Inventory

1.1

0.5 -55%

Absorption Rate (closed sales) 93.8 200 113%

Listings for Sale

19

Listings Pending

AVERAGE & MEDIAN PRICE $3,500

$800 $577

$3,000 $700

18

Listings Sold

$583 $2,593

$600 $2,500 $500

$2,000

$1,655

$400

31

Days On Market

$1,500 $300

$1,000

$200

$500 $100 $-$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019

Median

Average

Lomita AUGUST STATS Key Facts:

$765,000 Median Sold Price

$764,000

Average Sold Price

18

Listings Pending

Listings Sold

% Change

$715

$765

7%

Average Price Per Sq. Foot

$419

$372

-11%

Properties for Sale

26

18 -31%

Properties Pending Sales

14

14 0%

Properties Sold

15

15 0%

Days on Market (Sold Homes) 28

39 39%

Monthly Supply of Inventory

1.7

1.2 -29%

Absorption Rate (closed sales) 57.7

83.3 44%

AVERAGE & MEDIAN PRICE $3,500

$900 $764

$800 $3,000

15

AUG 2019

Median Price (in $,000)

Listings for Sale

14

AUG 2018

$765

$2,593

$700

$2,500

$600

$2,000

$500

39

Days On Market

$1,655

$400 $1,500 $300

$1,000 $200

$500

$100

$-$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019

Median

Average

Manhattan Beach AUGUST STATS Key Facts:

$2,651,000

Median Sold Price

$3,010,000

Average Sold Price

124

AUG AUG % 2018 2019 Change

Median Price (in $,000)

$2,790

$2,651

-5%

Average Price Per Sq. Foot

$1,232

$1,192

-3%

Properties for Sale

98

124 27%

Properties Pending Sales

29

26 -10%

Properties Sold

38

39 3%

Days on Market (Sold Homes)

58

58 0%

Monthly Supply of Inventory

2.6

3.2 23%

Absorption Rate (closed sales) 38.8 31.5 -19%

Listings for Sale

26

Listings Pending

AVERAGE & MEDIAN PRICE $3,500

$4,000

$3,000 $3,500 $2,929

39

Listings Sold

$2,593

$3,000 $2,500

$2,363

$2,500

$2,000

$1,655

$2,000

58

Days On Market

$1,500 $1,500

$1,000

$1,000

$500 $500 $- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019

Median

Average

Redondo Beach AUGUST STATS Key Facts:

$1,100,000 Median Sold Price

$1,174,000

Average Sold Price

117

AUG 2018

AUG 2019

Median Price (in $,000)

$1,165

$1,100

-6%

Average Price Per Sq. Foot

$600

$660

10%

Properties for Sale

108 117 8%

Properties Pending Sales

62

74 19%

Properties Sold

87

59 -32%

Days on Market (Sold Homes) 27

25 -7%

Monthly Supply of Inventory

2 67%

Listings Pending

1.2

Absorption Rate (closed sales) 80.6

Listings for Sale

74

$3,500 $1,400 $1,174

$1,200

Listings Sold

$1,100

$2,593

$2,500

$1,000

$2,000 $800

25

Days On Market

50.4 -37%

AVERAGE & MEDIAN PRICE

$3,000

59

% Change

$1,655

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

$-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019

Median

Average

Torrance AUGUST STATS Key Facts:

$866,000

Median Sold Price

$938,000

Average Sold Price

133

Median Price (in $,000)

$778

$866

11%

Average Price Per Sq. Foot

$521

$559

7%

Properties for Sale

145

133 -8%

Properties Pending Sales

114 116 2%

Properties Sold

112

102 -9%

Days on Market (Sold Homes)

22

33 50%

Monthly Supply of Inventory

1.3

1.3 0%

Absorption Rate (closed sales) 77.2 76.7 -1%

Listings for Sale

116

Listings Pending

AUG AUG % 2018 2019 Change

AVERAGE & MEDIAN PRICE $938

$3,500 $1,000 $900

$866

$3,000

$800

102

Listings Sold

$2,593

$2,500$700 $600

$2,000

$1,655

$500

33

Days On Market

$1,500$400 $300

$1,000

$200

$500

$100

$- $-

Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019

Median

Average

RE/MAX Estate Properties • 600+ Local Agents • 14 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

WEST LOS ANGELES 10931 W. Pico Blvd.

Los Angeles, CA 90064

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

MARINA DEL REY / VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292

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

SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

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

EL SEGUNDO 402 Main Street El Segundo, CA 90245

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266

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

Connect with me www.SouthBayHomes360.com

Brian@SouthBayHomes360.com

Cell: 310-987-1362

www.facebook.com/BrianSwopeRealtor

www.linkedin.com/in/brianswope-Realtor

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https://twitter.com/SBHomes360

Notes:

BRIAN SWOPE Y O U R R E A L E S TAT E E X P E R T R E A LT O R | C A L B R E # 0 1 9 4 6 7 6 9

2 3 7 4 0 H a w t h o r n e B l v d , 2 n d Fl oor | Torrance, C A 90505 e : b ri a n @ S o u t h B a y H o m e s360.com

w: www.S out hBayH omes360.com

d : 310-987-1362