SOUTH BAY
Market Market Intelligence Intelligence Report
V I N C E N T DA RMA L I
Volume 7 || November December 2021
RE A L TO R / L I C E NS E D AGE NT DR E # 0 2 1 1 8 0 3 9 C E L L : 424.445.85 85 OFF I C E : 3 1 0 .3 7 6 .2 2 2 5 VDA R MA L I @ E P L A H O ME S .CO M WW W.R E A L E S TAT E L O SA NGELES.COM
1 0 4 0 M A N H AT TA N B E AC H B L V D. M A N H AT TA N B E AC H , CA 9 0 2 6 6
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 previous month exceed current inventory.
The South Bay Market 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 or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2021.
SOUTH BAY MARKETS El Segundo
4
Hermosa Beach
6
Hollywood Riviera
8
Manhattan Beach
10
Redondo Beach
12
EL SEGUNDO If beachside living and small-town charms with a growing community of businesses sounds appealing, then look no further than El Segundo. This hidden beachside gem is quickly becoming an economic powerhouse. With the Los Angeles Airport (LAX) right next door and easy connections to major freeways and metro stops, local and global travel is a breeze. Recognized as the aerospace capital in the world, this community is home to leaders in aerospace and defense, bioscience, information technology, energy, and creative media. El Segundo also offers thriving cultural experiences in sports, culture, fine dining and more.
ATTRACTIONS
RESTAURANTS
• Dockweiler Beach
• R6 Distillery
• Jame Enoteca
• Britt's BBQ
• Old Town Music Hall
• Automobile Driving Museum
• Ali'i Fish Company
• Ensenada's Surf & Turf
• The Lakes at El Segundo
• El Segundo Parks & Rec
• Caló Kitchen + Tequila
• Salt Creek Grille
MARKET SUMMARY
NOVEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
14
20
$1.70M
15
$839
143%
2020
31
13
$1.18M
10
$619
42%
PERCENT CHANGE
-55%
+54%
+44%
+50%
+36%
+241%
NOVEMBER
2021 NOVEMBER
13-MONTH TRENDS $1,781,750
$1,733,222 $1,517,500
$1,545,500 $1,365,000
$1,214,500
$1,200,000
$1,180,000
$1,518,750
$1,437,500
$1,700,000
$1,575,000
$925,000
31 13
Nov-20
17
16
Dec-20
10
12
Jan-21
19
9
Feb-21
16
14
Mar-21
23
13
Apr-21
21
14
May-21
21
17
Jun-21
22
16
Jul-21
22
25 13
16
Aug-21
Sep-21
21 7
Oct-21
14
20
Nov-21
HERMOSA BEACH Hermosa Beach, home of the casual surfer lifestyle, twenty parks, and 1.8 miles of Pacific Ocean perfection. Nestled between Redondo Beach and Manhattan Beach, residents in Hermosa Beach can often be found enjoying favorite coastal pastimes, walking along the pier, playing outdoor sports such as tennis and baseball, enjoying fresh produce at the farmer's market or trying new fare at one of the many restaurants. Area real estate is almost exclusively single-family homes, often designed with floor-to-ceiling windows to take advantage of the views. For those seeking coastal breezes, laid back atmosphere, and a nice distance from the city hustle, Hermosa Beach is the place.
ATTRACTIONS
RESTAURANTS
• Hermosa Beach and Pier
• The Farmer's Market
• Zane's Steakhouse
• Fritto Misto
• The Strand
• South Park
• Palmilla Cocina y Tequila
• Dia de Campo
• The Comedy Club
• Noble Park
• Gum Tree
• Chef Melba's Bistro
MARKET SUMMARY
NOVEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
31
19
$2.00M
13
$948
61%
2020
60
13
$2.05M
14
$823
22%
PERCENT CHANGE
-48%
+46%
-2%
-7%
+15%
+183%
NOVEMBER
2021 NOVEMBER
13-MONTH TRENDS $2,400,000 $2,050,000
$1,871,500
$1,850,000
58
53 41
Nov-20
Dec-20
14
17
Jan-21
Feb-21
51
50
43
38 24
$2,082,500
$1,885,000
60
13
$2,350,000 $2,082,500
28
29
Mar-21
Apr-21
$2,047,500
48
May-21
$2,000,005
44
32 21
$2,222,222
45
Jun-21
Jul-21
40
33
20
Aug-21
$2,105,000
$2,000,000
31
19
18
19
Sep-21
Oct-21
Nov-21
HOLLYWOOD RIVIERA Hollywood Riviera, coined by developer Clifford Reid in 1927, got its name from bearing a resemblance to the French Riviera and on the dream of utilizing the area's natural setting for Hollywood's silver screens. The area is bordered by Palos Verdes Estates to the south and Redondo Beach and Torrance to the north. Outdoor amenities include the famous Riviera Village, a pedestrian friendly district for galleries, shopping, dining, a weekly Farmer's Market, and more as well as Torrance Beach, Rat Beach, and several parks. Commuters have direct access to Highway 1 and State Routes 107 and 213.
ATTRACTIONS
RESTAURANTS
• Torrance Beach
• Riviera Village
• Bettolino Kitchen
• Gabi James
• Rat Beach
• El Retiro Park
• Riviera House
• The Hook & Plow
• Miramar Park
• Los Arboles Rocketship Park
• Little Sister
• TNT Aloha Cafe
MARKET SUMMARY
NOVEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
4
12
$1.98M
12
$846
300%
2020
20
10
$1.63M
20
$815
50%
PERCENT CHANGE
-80%
+20%
+22%
-40%
+4%
+500%
NOVEMBER
2021 NOVEMBER
13-MONTH TRENDS $1,625,000
$1,700,000 $1,388,500
22
20 10
Nov-20
22
21 5
Dec-20
$1,549,000
11
Jan-21
$1,675,000 $1,420,000
22
15
7
Feb-21
Mar-21
$1,701,500
19 10
Apr-21
$1,980,000 $1,775,000
$1,625,000
$1,425,000
$1,402,500
20
$1,855,250
25 15
May-21
16
Jun-21
16
14
Jul-21
17
10
Aug-21
14
13
14
17
12 4
Sep-21
Oct-21
Nov-21
MANHATTAN BEACH Manhattan Beach is a South Bay hotspot for outdoor enthusiasts, families, and anyone who dreams of waking up to sunny beachside views every morning. The over two miles of coastline offer residents year round opportunities for relaxation, rejuvenation, and a plethora of opportunities for shopping and dining with a view. Head a few streets inland for parks, gardens, golfing and access Highway 1. Located just south of the Los Angeles airport and an hour to Downtown Los Angeles, residents enjoy convenient access to work and enjoying what the greater area has to offer.
ATTRACTIONS • Roundhouse Aquarium
RESTAURANTS • Polliwog Park & Manhattan Beach Botanical Garden
• The Strand Bike Path
• The Strand House
• The Arthur J
• Jute Coastal Bar + Kitchen
• Zinc
• Simmzy's
• Nick's Manhattan Beach
• Bruce's Beach • Manhattan Beach Art Center
MARKET SUMMARY
NOVEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
62
44
$2.98M
9
$1,247
71%
2020
96
43
$2.38M
42
$1,098
45%
PERCENT CHANGE
-35%
+2%
+25%
-79%
+14%
+58%
NOVEMBER
2021 NOVEMBER
13-MONTH TRENDS $3,382,500 $3,075,000 $2,375,000
$2,585,000
108
Nov-20
58
45
Dec-20
55
120
106
18
27
Jan-21
Feb-21
$3,500,000
$3,350,000 $2,765,000
96 43
$3,129,375
$3,358,000 $2,988,000
104
98
42
48
52
57
Mar-21
Apr-21
May-21
Jun-21
$3,187,500
$2,977,500
$2,787,500
84 45
Jul-21
74
87 54
Aug-21
73 42
41
Sep-21
Oct-21
62
44
Nov-21
REDONDO BEACH Located at the start of Los Angele's County's coastal edge, 20 miles south of downtown Los Angeles and seven miles south of Los Angeles International Airport, Redondo Beach is a premier beachfront destination. The city offers year round beach days, high end shopping and dining, pristine parks, and gorgeous waterfront properties. Local opportunities can be found in the northern industrial complex anchored by Northrop Grumman as well as in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water as well as a short walk or drive away from the water's edge.
ATTRACTIONS
RESTAURANTS
• Seaside Lagoon
• Hopkins Wilderness Park
• Bluewater Grill
• Pura Vita
• South Bay Galleria
• Veterans Park
• Sea Level Restaurant
• Maderos Cocina Mexicana
• Redondo Beach Marina
• RB Performing Arts Center
• The Standing Room
• Hudson House
MARKET SUMMARY
NOVEMBER 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
49
77
$1.25M
9
$715
157%
2020
133
87
$1.18M
10
$611
65%
PERCENT CHANGE
-63%
-11%
+6%
-10%
+17%
+140%
NOVEMBER
2021 NOVEMBER
13-MONTH TRENDS $1,310,000 $1,175,000
$1,241,000
$1,237,500
133 87
Nov-20
86
74
Dec-20
107 100
95 62
60
Jan-21
Feb-21
47
$1,339,000
Mar-21
$1,300,000
116
94
Apr-21
$1,333,500
91
90
May-21
$1,342,500
116
96
Jun-21
$1,300,000
110
98
Jul-21
$1,311,000
103
82
Aug-21
$1,380,000
$1,366,000 $1,249,000
104
78
Sep-21
83
96 49
Oct-21
77
Nov-21
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