Market Intelligence Report South Bay Edition

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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

600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International

Lic # 00450665, 00402754, 01879720

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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 San Pedro ...12 torrance ...13

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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 July 2020 are based on data available at the end of June 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

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june StatS

average & Median Price

JUNE JUNE %

2019 2020 Change

Median Sold Price Key Facts:

Average Sold Price

Listings for Sale

Listings Pending Listings Sold Days On Market $1,655 $2,593 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500

Median Price (in $1,000) Average Price Per Sq. Foot Properties for Sale

Properties Pending Sales Properties Sold

Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (Closed Sales)

$1,105 $1,325 20% $674 $698 4% 17 16 -6% 15 17 13% 14 13 -7% 25 29 16% 1.2 1.2 0% 82.4 81.3 -1%

$1,325,000

$1,232,000

16

17

13

29

El Segundo

$200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 Jun

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June StatS

JUNE JUNE _%

2019 2020 Change

$600 $603 1% $408 $394 -3% 64 23 -64% 41 34 -17% 31 22 -29% 39 36 -8% 2.1 1 -52% 48.4 95.7 98%

$603,000

$554,000

23

34

22

36

Gardena

$603 $554 $460 $480 $500 $520 $540 $560 $580 $600 $620

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june StatS

JUNE JUNE %

2019 2020 Change

$720,000

$731,000

36

32

27

21

$648 $720 11% $471 $534 13% 49 36 -27% 30 32 7% 38 27 -29% 37 21 -43% 1.3 1.3 0% 77.6 75 -3%

Hawthorne

$720 $731 $100 $200 $300 $400 $500 $600 $700 $800 $900

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June StatS

JUNE JUNE _%

2019 2020 Change

$1,938,000

$2,750,000

55

23

18

33

$1,775 $1,938 9% $1,182 $1,264 7% 68 55 -19% 18 23 28% 15 18 20% 30 33 10% 4.5 3.1 -31% 22.1 32.7 48%

Hermosa Beach

$1,938 $2,750 $500 $1,000 $1,500 $2,000 $2,500 $3,000

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june StatS

JUNE JUNE %

2019 2020 Change

$573,000

$577,000

20

15

12

22

$577 $573 -1% $601 $454 -24% 20 20 0% 15 15 0% 6 12 100% 19 22 16% 3.3 1.7 -48% 30 60 100%

Lawndale

$573 $577 $100 $200 $300 $400 $500 $600 $700 $800

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June StatS

JUNE JUNE _%

2019 2020 Change

$739,000

$699,000

17

11

9

19

$600 $739 23% $404 $432 7% 17 17 0% 15 11 -27% 19 9 -53% 22 19 -14% 0.9 1.9 111% 111.8 52.9 -53%

Lomita

$739 $699 $100 $200 $300 $400 $500 $600 $700 $800 $900

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june StatS

JUNE JUNE %

2019 2020 Change

$2,187,000

$2,520,000

111

58

30

49

$2,616 $2,187 -16% $1,060 $987 -7% 135 111 -18% 37 58 57% 29 30 3% 33 49 48% 4.7 3.7 -21% 21.5 27 26%

Manhattan Beach

$2,187 $2,520 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000

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June StatS

JUNE JUNE _%

2019 2020 Change

$1,136,000

$1,155,000

97

84

44

25

$1,150 $1,136 -1% $617 $609 -1% 114 97 -15% 65 84 29% 83 44 -47% 26 25 -4% 1.4 2.2 57% 72.8 45.4 -38%

Redondo Beach

$1,136 $1,155 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600

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june StatS

JUNE JUNE %

2019 2020 Change

$601 $598 0% $427 $459 7% 100 78 -22% 54 63 17% 48 36 -25% 31 23 -26% 2.1 2.2 5% 48 46.2 -4%

$598,000

$650,000

78

63

36

23

San Pedro

$598 $650 $100 $200 $300 $400 $500 $600 $700 $800

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june StatS

JUNE JUNE %

2019 2020 Change

$867,000

$987,000

104

109

86

24

$831 $867 4% $542 $598 10% 139 104 -25% 92 109 18% 88 86 -2% 25 24 -4% 1.6 1.2 -25% 63.3 82.7 31%

Torrance

$867 $987 $200 $400 $600 $800 $1,000 $1,200

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BEVERLY HILLS 9454 Wilshire Blvd. Suite 600

Beverly Hills, CA 90212 WEST LOS ANGELES

10931 W. Pico Blvd. Los Angeles, CA 90064 MARINA DEL REY / VENICE

124 Washington Blvd. Marina Del Rey, CA 90292

SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

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

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

RE/MAX Estate Properties • 600+ Local Agents • 12 Offices • Luxury Residential

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FIND OUT WHAT YOUR HOME IS WORTH

CALL Maureen

at 310.541.6416

RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club CLHMS-Luxury Home Specialist • PV & Seniors Specialist