Vol. 6 | May 2020
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 • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
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 May 2020 are based on data available at the end of April 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 APRIL STATS Key Facts:
$1,100,000
Median Sold Price
$993,000
Average Sold Price
19
APR APR % 2019 2020 Change
Median Price (in $1,000)
$1,005
$1,100
9%
$627
$698
11%
Average Price Per Sq. Foot Properties for Sale
22
19 -14%
Properties Pending Sales
18
3 -83%
Properties Sold
10
3 -70%
Days on Market (Sold Homes)
52
7 -87%
Monthly Supply of Inventory
2.2
6.3 186%
Absorption Rate (Closed Sales) 45.5
15.8 -65%
Listings for Sale
AVERAGE & MEDIAN PRICE
$1,800
3
Listings Pending
$1,600
$3,500 $1,400
$3,000 $1,200
3
Listings Sold
$2,593
$2,500 $1,000
$2,000 $800
7
Days On Market
$1,655
$1,500
$600
$1,000
$400
$500
$200
$-
$Apr 2019
May 2019
Jun Jul 2019 Aug 2019 2019
Oct 2019
Median
Nov 2019
Dec 2019
Average
Jan 2020
Feb 2020
Mar 2020
Apr 2020
Gardena APRIL STATS Key Facts:
$564,000
Median Sold Price
$561,000
Average Sold Price
29
Listings Pending
Listings Sold
% Change
$533
$564
6%
Average Price Per Sq. Foot
$405
$365
-10%
Properties for Sale
75
29 -61%
Properties Pending Sales
41
19 -54%
Properties Sold
40
22 -45%
Days on Market (Sold Homes)
32
12 -63%
Monthly Supply of Inventory
1.9
1.3 -32%
Absorption Rate (Closed Sales) 53.3 75.9 42%
AVERAGE & MEDIAN PRICE $620 $3,500 $561
$600 $3,000
22
APR 2020
Median Price (in $1,000)
Listings for Sale
19
APR 2019
$2,593
$580 $2,500
$564 $560 $2,000
$1,655
12
Days On Market
$540 $1,500 $520 $1,000 $500 $500 $480 $-
Median
Average
Hawthorne APRIL STATS Key Facts:
$755,000
Median Sold Price
$781,000
Average Sold Price
50
APR APR % 2019 2020 Change
Median Price (in $1,000)
$623
$755
21%
Average Price Per Sq. Foot
$509
$511
0%
Properties for Sale
59
50 -15%
Properties Pending Sales
40
13 -68%
Properties Sold
26
11 -58%
Days on Market (Sold Homes)
41
12 -71%
Monthly Supply of Inventory
2.3
4.5 96%
Absorption Rate (Closed Sales) 44.1
22 -50%
Listings for Sale
13
Listings Pending
AVERAGE & MEDIAN PRICE $3,500$900
$781
$800
$755
$3,000 $700
11
$2,593
$2,500$600
Listings Sold
$500
$2,000
$1,655
$400
12
Days On Market
$1,500
$300
$1,000$200 $100
$500 $-
$-
Median
Average
Hermosa Beach APRIL STATS Key Facts:
$1,765,000 Median Sold Price
$1,876,000
Average Sold Price
54
APR 2019
APR 2020
% Change
Median Price (in $1,000)
$1,538
$1,765
15%
Average Price Per Sq. Foot
$943
$1,107
17%
Properties for Sale
49
54 10%
Properties Pending Sales
15
7 -53%
Properties Sold
20
13 -35%
Days on Market (Sold Homes)
24
30 25%
Monthly Supply of Inventory
2.5
4.2 68%
Absorption Rate (Closed Sales) 40.8 24.1 -41%
Listings for Sale
7
Listings Pending
AVERAGE & MEDIAN PRICE $3,000
$3,500 $1,876
$2,500
$3,000
13
$2,593 $1,765
$2,000 $2,500
Listings Sold $2,000
$1,500
30
Days On Market
$1,655
$1,500 $1,000
$1,000 $500
$500
$-
$Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020
Median
Average
Lawndale APRIL STATS Key Facts:
$725,000
Median Sold Price
$697,000
Average Sold Price
16
APR APR % 2019 2020 Change
Median Price (in $1,000)
$560
$725
29%
Average Price Per Sq. Foot
$389
$384
-1%
Properties for Sale
12
16 33%
Properties Pending Sales
12
6 -50%
Properties Sold
9
5 -44%
Days on Market (Sold Homes)
28
25 -11%
Monthly Supply of Inventory
1.3
3.2 146%
Absorption Rate (Closed Sales) 75
31.3 -58%
Listings for Sale
6
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$697 $725
$800
$3,000 $700
5
Listings Sold
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
25
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $-
$-
Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020
Median
Average
Feb Mar 2020 2020
Apr 2020
Lomita APRIL STATS Key Facts:
$800,000 Median Sold Price
$765,000
Average Sold Price
14
APR 2019
APR 2020
Median Price (in $1,000)
$550
$800
45%
Average Price Per Sq. Foot
$411
$436
6%
Properties for Sale
23
14 -39%
Properties Pending Sales
21
8 -62%
Properties Sold
11
9 -18%
Days on Market (Sold Homes)
42
15 -64%
Monthly Supply of Inventory
2.1
1.6 -24%
Absorption Rate (Closed Sales) 47.8 64.3 35%
Listings for Sale
8
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$900 $765
$3,000 $800
9
Listings Sold
% Change
$800
$2,593
$700
$2,500
$600
$2,000
$500
15
Days On Market
$1,655
$400 $1,500 $300
$1,000 $200
$500 $100 $-
$Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020
Median
Average
Manhattan Beach APRIL STATS Key Facts:
$2,900,000 Median Sold Price
$3,540,000 Average Sold Price
88
APR APR % 2019 2020 Change
Median Price (in $1,000)
$2,337
$2,900
24%
Average Price Per Sq. Foot
$931
$1,309
41%
Properties for Sale
117
88 -25%
Properties Pending Sales
44
17 -61%
Properties Sold
44
23 -48%
Days on Market (Sold Homes)
63
41 -35%
Monthly Supply of Inventory
2.7
3.8 41%
Absorption Rate (Closed Sales) 37.6
26.1 -31%
Listings for Sale
17 Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $4,000
$3,540
$3,000 $3,500
23 Listings Sold
$2,593 $2,900
$3,000 $2,500 $2,500 $2,000
$1,655
$2,000
41
Days On Market
$1,500 $1,500 $1,000 $1,000 $500 $500 $- $-
Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020
Median
Average
Feb Mar 2020 2020
Apr 2020
Redondo Beach APRIL STATS Key Facts:
$1,150,000 Median Sold Price
$1,213,000
Average Sold Price
94
APR 2019
APR 2020
Median Price (in $1,000)
$1,140
$1,150
1%
Average Price Per Sq. Foot
$600
$619
3%
Properties for Sale
116
94 -19%
Properties Pending Sales
75
37 -51%
Properties Sold
86
35 -59%
Days on Market (Sold Homes)
42
25 -40%
Monthly Supply of Inventory
1.3
2.7 108%
Absorption Rate (Closed Sales) 74.1
37.2 -50%
Listings for Sale
37
Listings Pending
% Change
AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,213 $1,400 $3,000
35
Listings Sold
$1,150 $2,593
$1,200 $2,500 $1,000 $2,000
$1,655
$800
25
Days On Market
$1,500 $600 $1,000 $400 $500 $200 $$Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 Median
Average
Torrance APRIL STATS Key Facts:
$863,000
Median Sold Price
$901,000
Average Sold Price
86
Median Price (in $1,000)
$822
$863
5%
Average Price Per Sq. Foot
$515
$552
7%
Properties for Sale
117
86 -26%
Properties Pending Sales
88
41 -53%
Properties Sold
81
66 -19%
Days on Market (Sold Homes)
33
21 -36%
Monthly Supply of Inventory
1.4
1.3 -7%
Absorption Rate (Closed Sales) 69.2 76.7 11%
Listings for Sale
41
Listings Pending
APR APR % 2019 2020 Change
AVERAGE & MEDIAN PRICE $1,000 $3,500 $901
$950 $3,000
66
$2,593 $2,500 $900
Listings Sold
$863
$2,000 $850
21
Days On Market
$1,655
$1,500 $800 $1,000 $750 $500 $700 $-
Median
Average
Carson APRIL STATS Key Facts:
$578,000
Median Sold Price
$547,000
Average Sold Price
29
APR APR % 2019 2020 Change
Median Price (in $1,000)
$540
$578
7%
Average Price Per Sq. Foot
$342
$368
8%
Properties for Sale
39
29 -26%
Properties Pending Sales
46
34 -26%
Properties Sold
53
38 -28%
Days on Market (Sold Homes)
40
18 -55%
Monthly Supply of Inventory
0.7
0.8 14%
Absorption Rate (Closed Sales) 135.9 131 -4%
Listings for Sale
34
Listings Pending
AVERAGE & MEDIAN PRICE $600 $3,500 $547 $578
$580 $3,000
38
Listings Sold
$2,593
$560 $2,500 $540 $2,000
$1,655
18
Days On Market
$520 $1,500
$500 $1,000
$500 $480
$$460 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 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
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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
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MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
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