Tuba Ghannadi Market Intelligence Report Palos Verdes

PALOS VERDES

Market MarketIntelligence IntelligenceReport Report

Volume Volume 88 || May May 2022 2022

310.686.4688 | Tuba@REMAXPV.COM |

www.PalosVerdes Homes.com

LIC.# 00922882

PALOS VERDES MARKETS Harbor City

4

Palos Verdes Estates

6

Rancho Palos Verdes

8

Rolling Hills

10

Rolling Hills Estates

12

San Pedro

14

Wilmington

16

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 the previous month exceed current inventory.

The Palos Verdes 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 are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.

HARBOR CITY Harbor City is a growing, vibrant community just east of the Palos Verdes Peninsula and 30 minutes south of downtown Los Angeles.

Ideally located as a gateway between the port cities and beach cities, residents have easy access to explore the greater Los Angeles area. Harbor City is home to an expansive Kaiser hospital, regional park, and community college – providing avenues for wellness and work opportunities. Housing in Harbor City is a mixture of single-family residences and low-rise apartments, many of which are walkable to parks and delicious restaurants.

ATTRACTIONS

RESTAURANTS

•

Ken Malloy Harbor Park

•

Harbor City Library

•

Tacos El Goloso

•

Philipo's Pizza and Pasta

•

Machado Lake

•

Harbor City Skatepark

•

Raku Sushi Tonkatsu

•

Monarca's Mexican Food

•

Los Angeles Harbor College •

The Skating Edge Ice Arena

•

Baja Fish Grill

•

Chicken Maison

MARKET SUMMARY

APRIL 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

23

18

$768K

9

$509

78%

16

20

$704K

9

$405

125%

+44%

-10%

+9%

0%

+26%

-37%

APRIL

2022 APRIL

2021 PERCENT CHANGE

13-MONTH TRENDS $800,000 $730,000

$704,083

$700,000

$715,000

$789,000

$750,000 $700,000

$830,000 $745,000

$767,500

$642,000 $522,800

16

20

Apr-21

20

21 15

May-21

29

26 20

Jun-21

18

14

Jul-21

17

25

25

17

22 11

Aug-21

Sep-21

Oct-21

Nov-21

16

13

Dec-21

15

13

Jan-22

23

18 12

Feb-22

17

18

Mar-22

Apr-22

17

PALOS VERDES ESTATES Master-planned by noted landscape architect Fredrick Law Olmstead Jr., Palos Verdes Estates is perched on the northwestern edge of the Palos Verdes Peninsula. The city is ideally located for postcard perfect views and privacy while still offering close proximity to South Bay beach city nightlife. It is known for its high-performing schools, and Palos Verdes Peninsula High School is consistently found in top ranks in national publications. Residences in the area are pleasantly placed in between several open and green spaces and range from mid-century modern family homes to $10 million+ palatial estates, offering many options for buyers.

ATTRACTIONS

RESTAURANTS

•

Palos Verdes Golf Club

•

Flat Rock Point & Beach

•

Salsa Verdes

•

Malaga Cove Ranch Market

•

Bluff Cove Trail

•

George Allen Field

•

Black Bamboo Sushi

•

Rafaello's Pizza

•

Malaga Dunes

•

Roessler Point

•

The Cove Cafe

•

Lunada Market & Deli

MARKET SUMMARY

APRIL 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

26

16

$3.05M

8

$1,116

62%

37

20

$2.33M

9

$894

54%

-30%

-20%

+31%

-11%

+25%

+14%

APRIL

2022 APRIL

2021 PERCENT CHANGE

13-MONTH TRENDS $3,550,000 $3,051,000

$2,798,800 $2,562,500 $2,331,359

$2,510,000

$2,332,500

$2,420,000

$2,750,000

$2,650,000

$2,425,000

$2,382,500

$2,070,000

49

43

37

20

Apr-21

23

May-21

50

44

27 16

Jun-21

36 22

41 29

25

25

10

Jul-21

Aug-21

Sep-21

Oct-21

Nov-21

23

26 16

Dec-21

26 7

Jan-22

11

Feb-22

20

24

Mar-22

26 16

Apr-22

RANCHO PALOS VERDES Anchored by the iconic Point Vicente Lighthouse and dramatic coastal views of Catalina Island and beyond, Rancho Palos Verdes is the largest city on the peninsula. Like its neighbors, the city enjoys highly ranked schools and is consistently ranked as one of the wealthiest zip codes in the United States. Recreation activities abound in the many horse and hiking trails as well as two golf courses, the Terranea Resort, and several parks. Top city employers are in the education, resort, and real estate industries.

Real estate opportunities are largely single-family homes that range from mid-century traditional single-story homes to truly exceptional estates.

ATTRACTIONS

RESTAURANTS

•

Los Verdes Golf Course

•

Peninsula Racquet Club

•

Mar'sel

•

Tomatillo Mexican Grill

•

Point Vicente Lighthouse

•

Terranea Resort

•

Swan Thai

•

Nelson's

•

Abalone Cove Trail & Beach

•

Del Cerro Park

•

Avenue Italy

•

Peninsula Tap House

MARKET SUMMARY

APRIL 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

59

46

$1.80M

8

$816

78%

90

58

$1.78M

7

$708

64%

-34%

-21%

+1%

+14%

+15%

+21%

APRIL

2022 APRIL

2021 PERCENT CHANGE

13-MONTH TRENDS $1,777,500 $1,607,000

$1,715,000

$1,655,000

90

$1,718,000

58

Apr-21

66

54

May-21

57

Jun-21

70 52

Jul-21

62

$1,575,000

71

$1,745,000

$1,797,500

$1,525,000

81 61

41

Aug-21

$1,750,000

$1,750,000

$1,543,040

90 73

$1,780,000

Sep-21

Oct-21

53

57 39

Nov-21

34

Dec-21

44

58

50 33

33

Jan-22

Feb-22

48

Mar-22

59

46

Apr-22

ROLLING HILLS For those seeking ultimate privacy, Rolling Hills is the perfect community. This equestrian-friendly city is entirely comprised of private land and is only accessible by three gates with 24/7 staffing. Located in the central portion of the Palos Verdes Peninsula, residents are still treated to stunning coastal views, parks, and trails for outdoor activities. Bordered by Portuguese Canyon, Rolling Hills Estates, and Rancho Palos Verdes, Rolling Hills offers a peaceful setting while within close proximity to fine dining, sport and recreation areas, and professional services.

ATTRACTIONS •

Hesse's Gap

•

Aqua Magna Canyon

•

Saffo's Rest

•

Westfield Park

•

Stormhill Park

•

Portuguese Canyon

MARKET SUMMARY

APRIL 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

6

3

$4.50M

20

$1,138

50%

17

4

$3.08M

14

$996

24%

-65%

-25%

+46%

+43%

+14%

+113%

APRIL

2022 APRIL

2021 PERCENT CHANGE

13-MONTH TRENDS $4,916,730

$3,795,900

14

10 4

Apr-21

10

5

May-21

11

8

7

2 Jun-21

Jul-21

Aug-21

6

9 3

Sep-21

$4,500,000

$4,250,000 $3,575,000

$3,556,000

$3,300,000

$3,082,500

17

$4,500,000

$4,200,000

$4,060,000

9

9

9

1

2

3

Oct-21

Nov-21

Dec-21

5

6

0

Jan-22

Feb-22

$3,641,155

7

6 2

3

Mar-22

Apr-22

ROLLING HILLS ESTATES Founded in 1957, Rolling Hills Estates offers small town, semi-rural living with a thriving city organization. Residents are afforded three convenient shopping centers, dining, trail access, and a myriad of local community events throughout the year. The city is best known for its love of all things equestrian, offering over 25 miles of scenic horse trails and an Equestrian Center. Real estate is largely single-family homes with nods to several custom architectural styles to choose from. Located on the northern end of the Peninsula, residents enjoy the tight-knit community as well as the close proximity to urban centers, industry, and world-famous beaches.

ATTRACTIONS

RESTAURANTS

• South Coast Botanic Garden • Rolling Hills Park Tennis Club • Chicken Maison • Peter Weber Equestrian Center

• Mama Terrano

• Promenade Ice Chalet

• The Original Red Onion

• The Crepery Cafe

• Rolling Hills Little League

• Giorgio's

• TantaWan Thai Cuisine

MARKET SUMMARY

APRIL 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

30

31

$1.38M

8

$818

103%

43

38

$1.66M

6

$718

88%

-30%

-18%

-17%

+33%

+14%

+17%

APRIL

2022 APRIL

2021 PERCENT CHANGE

13-MONTH TRENDS $2,325,000

$1,800,000 $1,660,000

43

38

Apr-21

$1,580,250

$1,650,000

30

May-21

$1,895,000

$1,815,000 $1,672,500

$1,675,000 $1,477,500

$1,475,000

46 36

$1,755,000

33

33

Jun-21

37

Jul-21

44

39

Aug-21

39

$1,380,000

46

Sep-21

33

34

Oct-21

24

28

Nov-21

18

27

Dec-21

28

27

26

30

32

30

31

16

Jan-22

Feb-22

Mar-22

Apr-22

SAN PEDRO San Pedro is a unique and vibrant community that feels like its own city. San Pedro is one of the cities with direct access to The Port of Los Angeles, a major international seaport. Originally dominated by the fishing industry, San Pedro has grown into a working class community with a wide variety of outdoor recreation spaces, family-friendly activities, and a thriving shopping and dining scene. San Pedro is also hosts the annual Shakespeare by the annual summer Sea festival. Real estate offerings include single-family homes with some condos available, offering a multitude of styles and finishes.

ATTRACTIONS

RESTAURANTS

•

Point Fermin Park

•

Cabrillo Beach Yacht Club

•

Raffaello Ristorante

•

J. Trani's Ristorante

•

Cabrillo Aquarium

•

Crafted at the Port of LA

•

Crazy Fish - Grill & Market

•

Sebastians's Mediterranean

•

Deane Dana Friendship Park •

Old San Pedro

•

Sirinat Thai & Sushi Bar

•

Compagnon Wine Bistro

MARKET SUMMARY

APRIL 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

68

54

$808K

8

$525

79%

71

49

$640K

6

$468

69%

-4%

+10%

+26%

+33%

+12%

+15%

APRIL

2022 APRIL

2021 PERCENT CHANGE

13-MONTH TRENDS $815,000 $735,000

$700,000

$737,500

$729,750

$770,000

$765,000 $715,000

$705,000

$820,000

$808,000

$710,000

$640,000

89

80

71

49

Apr-21

107

97 56

69

80

66

106 89

60

63

67

68

60

65

39

May-21

Jun-21

Jul-21

Aug-21

Sep-21

Oct-21

Nov-21

Dec-21

73

64

63

Jan-22

67

49

Feb-22

Mar-22

68

54

Apr-22

WILMINGTON Wilmington is one of the oldest communities in Los Angeles and enjoys a long and proud history of being the gateway to Los Angeles.

Inside the area, you will find many historical museums, military installations, six parks, waterfront attractions, a community center, and skate plaza. Wilmington has a heavy concentration of industry and the third largest oil field in the United States, offering several employment opportunities. Wilmington is primarily comprised of single-family homes perfect for families and professionals. Bordered

by Long Beach, Carson, and San Pedro, Wilmington offers convenient freeway access to explore greater Los Angeles and beyond.

ATTRACTIONS

RESTAURANTS

•

Vincent Thomas Bridge

•

The Banning Museum

•

San Pedro Fish Market Grille •

•

Terminal Island

•

California Yacht Marina

•

Issac's Cafe

•

Hojas Premium Tea House

•

Wilmington Waterfront Park •

The Chowder Barge

•

Eat at Rudy's

John Mendez Baseball Park •

Montoya's

MARKET SUMMARY

APRIL 20 22 TOTAL INVENTORY

TOTAL SALES

MEDIAN SALES PRICE

MEDIAN DAYS ON MARKET

MEDIAN PRICE PER SQUARE FOOT

SALES RATIO

17

16

$683K

12

$467

94%

14

11

$562K

11

$483

79%

+21%

+45%

+22%

+9%

-3%

+20%

APRIL

2022 APRIL

2021 PERCENT CHANGE

13-MONTH TRENDS $659,000

$600,000

$562,000

21

$600,000

15 11

$600,000

$575,000

Jun-21

14

Jul-21

$663,750

19

15 9

May-21

$625,000

15

11

16

Aug-21

14

12

14

16

Oct-21

8

Nov-21

16

15

17

16

12

9

Sep-21

$683,250

$559,250

6

Apr-21

$637,500

19

19

14

$610,000

$617,500

Dec-21

Jan-22

7

Feb-22

Mar-22

Apr-22

BEVERLY HILLS

WE ARE THE COAST 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

WEST LOS ANGELES

MARINA DEL REY/VENICE WESTCHESTER/SILICON BEACH

EL SEGUNDO

MANHATTAN BEACH MANHATTAN BEACH/DOWNTOWN REDONDO BEACH TORRANCE PALOS VERDES - MALAGA COVE PALOS VERDES - SILVER SPUR PALOS VERDES - MIRALESTE

600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720

310.686.4688 | Tuba@REMAXPV.COM |

www.PalosVerdes Homes.com

LIC.# 00922882