SOUTHBAY MARKET INTELLIGENCE Volume 4 - April 2020
VICTORIA BABILONIA REAL ESTATE
Compliments of:
VICTORIA BABILONIA
Associate Broker | Former CPA CAL BRE
01294639
Direct: (310) 291-8048
victoria@babiloniarealestate.com
RE/MAX
ESTATE PROPERTIES
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................3 Gardena..................................................................4 Hawthorne..............................................................5 Hermosa Beach......................................................7 Lawndale................................................................7 Lomita.....................................................................8 Manhattan Beach...................................................9 Redondo Beach....................................................10 Torrance................................................................11
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 April 2020 are based on data available at the end of March 2020. 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 MARCH STATS Key Facts:
$1,013,000
Median Sold Price
$1,064,000
Average Sold Price
14
MAR MAR % 2019 2020 Change
Median Price (in $1,000)
$1,320
$1,013
-23%
Average Price Per Sq. Foot
$662
$823
24%
Properties for Sale
28
14 -50%
Properties Pending Sales
16
8 -50%
Properties Sold
15
6 -60%
Days on Market (Sold Homes)
38
55 45%
Monthly Supply of Inventory
1.9
2.3 21%
Absorption Rate (Closed Sales) 53.6
Listings for Sale
42.9 -20%
AVERAGE & MEDIAN PRICE $1,600
8
Listings Pending
$3,500 $1,400
$3,000 $1,200
6
$2,593 $2,500 $1,000
Listings Sold $2,000$800 $1,655
55
Days On Market
$1,500$600 $1,000
$400
$500
$200
$-
$Mar 2019
Apr 2019
May 2019
Jun Jul 2019 Sep 2019 2019
Median
O ct 2019
N ov 2019
Average
Dec 2019
Jan 2020
Feb 2020
Mar 2020
Gardena MARCH STATS Key Facts:
$592,000
Median Sold Price
$564,000
Average Sold Price
27
Listings Pending
29
Listings Sold
MAR 2020
% Change
Median Price (in $1,000)
$548
$592
8%
Average Price Per Sq. Foot
$391
$438
12%
Properties for Sale
68
27 -60%
Properties Pending Sales
39
24 -38%
Properties Sold
26
29 12%
Days on Market (Sold Homes)
38
24 -37%
Monthly Supply of Inventory
2.6
0.9 -65%
Absorption Rate (Closed Sales) 38.2 107.4 181%
Listings for Sale
24
MAR 2019
AVERAGE & MEDIAN PRICE $620 $3,500 $600 $3,000
$592
$580 $2,500
$564
$2,593
$560 $2,000 $1,655
24
Days On Market
$540 $1,500 $520 $1,000 $500 $500 $480 $-
Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 Median
Average
Hawthorne MARCH STATS Key Facts:
$640,000
Median Sold Price
$724,000
Average Sold Price
26
MAR MAR % 2019 2020 Change
Median Price (in $1,000)
$687
$640
-7%
Average Price Per Sq. Foot
$471
$465
-1%
Properties for Sale
67
26 -61%
Properties Pending Sales
34
21 -38%
Properties Sold
31
25 -19%
Days on Market (Sold Homes)
30
25 -17%
Monthly Supply of Inventory
2.2
1 -55%
Absorption Rate (Closed Sales) 46.3
Listings for Sale
21
Listings Pending
AVERAGE & MEDIAN PRICE $3,500$900 $800
$724
$3,000 $700
25
Listings Sold
96.2 108%
$640$2,593
$2,500
$600
$2,000$500 $1,655 $400
25
Days On Market
$1,500
$300
$1,000
$200
$500$100
$-
$Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020
Median
Average
Hermosa Beach MARCH STATS Key Facts:
$1,638,000 Median Sold Price
$2,304,000
Average Sold Price
44
MAR 2019
MAR 2020
% Change
Median Price (in $1,000)
$1,613
$1,638
2%
Average Price Per Sq. Foot
$877
$1,151
31%
Properties for Sale
49
44 -10%
Properties Pending Sales
19
19 0%
Properties Sold
18
20 11%
Days on Market (Sold Homes)
63
58 -8%
Monthly Supply of Inventory
2.7
2.2 -19%
Absorption Rate (Closed Sales) 36.7 45.5 24%
Listings for Sale
19
Listings Pending
AVERAGE & MEDIAN PRICE $3,000
$2,304
$3,500 $2,500
$3,000
20
$2,593
$2,000 $2,500
Listings Sold
$1,638
$2,000
$1,500
58
Days On Market
$1,655
$1,500 $1,000
$1,000 $500
$500 $- $-
Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020
Median
Average
Lawndale MARCH STATS Key Facts:
$535,000
Median Sold Price
$557,000
Average Sold Price
15
Median Price (in $1,000)
$653
$535
-18%
Average Price Per Sq. Foot
$454
$423
-7%
Properties for Sale
14
15 7%
Properties Pending Sales
12
8 -33%
Properties Sold
9
13 44%
Days on Market (Sold Homes)
29
13 -55%
Monthly Supply of Inventory
1.6
1.2 -25%
Absorption Rate (Closed Sales) 64.3 86.7 35%
Listings for Sale
8
Listings Pending
MAR MAR % 2019 2020 Change
AVERAGE & MEDIAN PRICE $3,500
$800
$3,000 $700
13
Listings Sold
$557
$2,593
$600 $2,500
$535
$500
$2,000
$1,655
$400
13
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $-
$-
Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020
Median
Average
Lomita MARCH STATS Key Facts:
$718,000 Median Sold Price
$746,000
Average Sold Price
8
MAR 2019
Listings Pending
% Change
Median Price (in $1,000)
$650
$718
10%
Average Price Per Sq. Foot
$433
$448
3%
Properties for Sale
23
8 -65%
Properties Pending Sales
12
13 8%
Properties Sold
13
10 -23%
Days on Market (Sold Homes)
22
13 -41%
Monthly Supply of Inventory
1.8
0.8 -56%
Absorption Rate (Closed Sales) 56.5 125 121%
Listings for Sale
13
MAR 2020
AVERAGE & MEDIAN PRICE $3,500 $900 $746
$3,000 $800
$718
10
Listings Sold
$2,593
$700
$2,500
$600
$2,000
$500
13
Days On Market
$1,655
$400 $1,500 $300
$1,000 $200
$500 $100 $-
$Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020
Median
Average
Manhattan Beach MARCH STATS Key Facts:
$2,399,000
Median Sold Price
$2,834,000
Average Sold Price
80
MAR MAR % 2019 2020 Change
Median Price (in $1,000)
$2,195
$2,399
9%
Average Price Per Sq. Foot
$1,127
$1,110
-2%
Properties for Sale
113
80 -29%
Properties Pending Sales
46
45 -2%
Properties Sold
39
25 -36%
Days on Market (Sold Homes)
46
51 11%
Monthly Supply of Inventory
2.9
3.2 10%
Absorption Rate (Closed Sales) 34.5 31.3 -9%
Listings for Sale
45
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $3,500 $2,834
$3,000 $3,000
25
$2,593 $2,399
$2,500 $2,500
Listings Sold $2,000 $2,000 $1,655
51
Days On Market
$1,500 $1,500 $1,000 $1,000
$500 $500
$-$-
Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020
Median
Average
Redondo Beach MARCH STATS Key Facts:
$1,115,000 Median Sold Price
$1,131,000
Average Sold Price
81
Listings Pending
Listings Sold
$1,115
15%
Average Price Per Sq. Foot
$596
$604
1%
Properties for Sale
106
81 -24%
Properties Pending Sales
88
49 -44%
Properties Sold
78
50 -36%
Days on Market (Sold Homes)
44
39 -11%
Monthly Supply of Inventory
1.4
1.6 14%
Absorption Rate (Closed Sales) 73.6
61.7 -16%
AVERAGE & MEDIAN PRICE $3,500 $1,600
$1,131 $1,115 $2,593
$1,200 $2,500 $1,000 $2,000
$1,655
$800
39
Days On Market
% Change
$973
$1,400 $3,000
50
MAR 2020
Median Price (in $1,000)
Listings for Sale
49
MAR 2019
$1,500
$600 $1,000 $400 $500 $200 $-
Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 Median
Average
Torrance MARCH STATS Key Facts:
$890,000
Median Sold Price
$954,000
Average Sold Price
76
Median Price (in $1,000)
$810
$890
10%
Average Price Per Sq. Foot
$526
$550
5%
Properties for Sale
111
76 -32%
Properties Pending Sales
93
82 -12%
Properties Sold
69
77 12%
Days on Market (Sold Homes)
31
32 3%
Monthly Supply of Inventory
1.6
Listings Pending
1 -38%
Absorption Rate (Closed Sales) 62.2 101.3 63%
Listings for Sale
82
MAR MAR % 2019 2020 Change
AVERAGE & MEDIAN PRICE $954
$1,000 $3,500
$3,000 $950
77
Listings Sold
$2,593 $2,500 $900
$890
$2,000 $1,655
$850
32
Days On Market
$1,500
$800 $1,000 $750 $500
$$700
Mar Apr May Jun Jul Aug Sep O ct Nov Dec Jan Feb Mar 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 Median
Average
RE/MAX Estate Properties • 600+ Local Agents • 13 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
EL SEGUNDO 402 Main Street El Segundo, CA 90245
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275
MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266