Victoria Babilonia MIR Cover

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