Vol. 5 | October 2019
Market Intelligence Report Palos Verdes and Harbor Cities Edition Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities
310.920.9287 | Becky@BeckyDavidsonHomes.com | Lic. 01894087
Hawthorne SEPTEMBER STATS Key Facts:
$705,000
Median Sold Price
$731,000
Average Sold Price
41
SEP SEP % 2018 2019 Change
Median Price (in $1,000)
$687
$705
3%
Average Price Per Sq. Foot
$480
$463
-4%
Properties for Sale
41
41 0%
Properties Pending Sales
27
39 44%
Properties Sold
24
35 46%
Days on Market (Sold Homes)
24
21 -13%
Monthly Supply of Inventory
1.7
1.2 -29%
Absorption Rate (Closed Sales) 58.5 85.4 46%
Listings for Sale
39
Listings Pending
AVERAGE & MEDIAN PRICE $800
$731
$3,500
$705
$700
$3,000
35
Listings Sold
$600
$2,593
$2,500 $500
$2,000 $400
21
Days On Market
$1,655
$1,500
$300
$1,000 $200 $100 $500
$-
$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
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 Torrance................................................................12
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 October 2019 are based on data available at the end of September 2019. 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 SEPTEMBER STATS Key Facts:
$1,279,000
Median Sold Price
$1,252,000
Average Sold Price
17
SEP SEP % 2018 2019 Change
Median Price (in $1,000)
$1,415
$1,279
-10%
Average Price Per Sq. Foot
$672
$705
5%
Properties for Sale
29
17 -41%
Properties Pending Sales
6
11 83%
Properties Sold
9
6 -33%
Days on Market (Sold Homes)
30
47 57%
Monthly Supply of Inventory
3.2
2.8 -13%
Absorption Rate (Closed Sales) 31
Listings for Sale
35.3 14%
AVERAGE & MEDIAN PRICE $1,800
11
Listings Pending
$1,600 $3,500
$1,400
$3,000
6
$1,252
$1,279
$2,593
$1,200
$2,500
Listings Sold
$1,000
$2,000 $1,655
$800
47
Days On Market
$1,500 $600
$1,000
$400
$500$200
$-
$Sep 2018
Oct 2018
Nov 2018
Dec 2018
Jan 2019
Feb 2019
Median
Mar 2019
Apr 2019
Average
May 2019
Jun Jul 2019 Aug 2019 2019
Sep 2019
Gardena SEPTEMBER STATS Key Facts:
$594,000
Median Sold Price
$560,000
Average Sold Price
53
SEP 2018
Listings Pending
$583
$594
2%
Average Price Per Sq. Foot
$413
$360
-13%
Properties for Sale
69
53 -23%
Properties Pending Sales
39
37 -5%
Properties Sold
30
34 13%
Days on Market (Sold Homes)
17
41 141%
Monthly Supply of Inventory
2.3
1.6 -30%
Absorption Rate (Closed Sales) 43.5 64.2 48%
AVERAGE & MEDIAN PRICE $3,500$620 $594
$600
$3,000
34
% Change
Median Price (in $1,000)
Listings for Sale
37
SEP 2019
$580
$560
$2,593
$2,500 $560
Listings Sold
$2,000$540 $1,655
41
Days On Market
$520
$1,500
$500
$1,000 $480
$500$460 $-
$440 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Hawthorne SEPTEMBER STATS Key Facts:
$705,000
Median Sold Price
$731,000
Average Sold Price
41
SEP SEP % 2018 2019 Change
Median Price (in $1,000)
$687
$705
3%
Average Price Per Sq. Foot
$480
$463
-4%
Properties for Sale
41
41 0%
Properties Pending Sales
27
39 44%
Properties Sold
24
35 46%
Days on Market (Sold Homes)
24
21 -13%
Monthly Supply of Inventory
1.7
1.2 -29%
Absorption Rate (Closed Sales) 58.5 85.4 46%
Listings for Sale
39
Listings Pending
AVERAGE & MEDIAN PRICE $800
$731
$3,500
$705
$700
$3,000
35
Listings Sold
$600
$2,593
$2,500 $500
$2,000 $400
21
Days On Market
$1,655
$1,500
$300
$1,000 $200 $100 $500
$-
$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Hermosa Beach SEPTEMBER STATS Key Facts:
$2,200,000 Median Sold Price
$2,279,000
Average Sold Price
69
SEP 2018
Listings Pending
$1,715
$2,200
28%
Average Price Per Sq. Foot
$914
$955
4%
Properties for Sale
59
69 17%
Properties Pending Sales
15
23 53%
Properties Sold
12
16 33%
Days on Market (Sold Homes)
37
50 35%
Monthly Supply of Inventory
4.9
4.3 -12%
Absorption Rate (Closed Sales) 20.3 23.2 14%
AVERAGE & MEDIAN PRICE $3,500
$3,500 $3,000
$3,000
16
Listings Sold
% Change
Median Price (in $1,000)
Listings for Sale
23
SEP 2019
$2,279
$2,500
$2,593 $2,200
$2,500 $2,000
$2,000 $1,655
$1,500
50
Days On Market
$1,500
$1,000
$1,000
$500
$500
$- $-
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Lawndale SEPTEMBER STATS Key Facts:
$634,000
Median Sold Price
$574,000
Average Sold Price
10
SEP SEP % 2018 2019 Change
Median Price (in $1,000)
$500
$634
27%
Average Price Per Sq. Foot
$391
$385
-2%
Properties for Sale
20
10 -50%
Properties Pending Sales
8
10 25%
Properties Sold
8
10 25%
Days on Market (Sold Homes)
45
36 -20%
Monthly Supply of Inventory
2.5
1 -60%
Absorption Rate (Closed Sales) 40
Listings for Sale
10
Listings Pending
AVERAGE & MEDIAN PRICE $3,500
$800 $574 $634
$3,000 $700
10
Listings Sold
100 150%
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
36
Days On Market
$1,500 $300
$1,000
$200
$500 $100 $-
$-
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Lomita SEPTEMBER STATS Key Facts:
$677,000 Median Sold Price
$655,000
Average Sold Price
18
SEP 2018
Listings Pending
% Change
Median Price (in $1,000)
$672
$677
1%
Average Price Per Sq. Foot
$404
$439
9%
Properties for Sale
31
18 -42%
Properties Pending Sales
12
13 8%
Properties Sold
11
11 0%
Days on Market (Sold Homes)
17
17 0%
Monthly Supply of Inventory
2.8
1.6 -43%
Absorption Rate (Closed Sales) 35.5 61.1 72%
Listings for Sale
13
SEP 2019
AVERAGE & MEDIAN PRICE $3,500
$900
$3,000 $800
11
Listings Sold
$655
$700
$2,593 $677
$2,500
$600
$2,000
$500
17
Days On Market
$1,655
$400 $1,500 $300
$1,000 $200
$500 $100 $-
$-
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Manhattan Beach SEPTEMBER STATS Key Facts:
$2,500,000
Median Sold Price
$2,536,000
Average Sold Price
131
SEP SEP % 2018 2019 Change
Median Price (in $1,000)
$2,288
$2,500
9%
Average Price Per Sq. Foot
$1,135
$973
-14%
Properties for Sale
105
131 25%
Properties Pending Sales
27
30 11%
Properties Sold
24
21 -13%
Days on Market (Sold Homes)
27
70 159%
Monthly Supply of Inventory
4.4
6.2 41%
Absorption Rate (Closed Sales) 22.9
Listings for Sale
30
Listings Pending
16 -30%
AVERAGE & MEDIAN PRICE $3,500
$3,500
$3,000
$3,000
21
Listings Sold
$2,536
$2,593
$2,500
$2,500
$2,500
$2,000 $2,000 $1,655
70
Days On Market
$1,500 $1,500 $1,000 $1,000 $500 $500
$-
$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Redondo Beach SEPTEMBER STATS Key Facts:
Median Price (in $1,000)
$1,010,000 Median Sold Price
$1,026,000
Average Sold Price
126
Average Price Per Sq. Foot
Listings Pending
SEP 2019
$1,009
$1,010
0%
$565
$575
2%
% Change
Properties for Sale
116 126 9%
Properties Pending Sales
52
72 38%
Properties Sold
44
57 30%
Days on Market (Sold Homes)
25
35 40%
Monthly Supply of Inventory
2.6
2.2 -15%
Absorption Rate (Closed Sales) 37.9 45.2 19%
Listings for Sale
72
SEP 2018
AVERAGE & MEDIAN PRICE $3,500 $1,400
$3,000
$1,200
57
Listings Sold
$1,026$2,593 $1,010
$2,500
$1,000
$2,000 $800
35
Days On Market
$1,655
$1,500 $600 $400 $1,000 $200 $500
$-
$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Torrance SEPTEMBER STATS Key Facts:
$817,000
Median Sold Price
$864,000
Average Sold Price
123
SEP SEP % 2018 2019 Change
Median Price (in $1,000)
$800
$817
2%
Average Price Per Sq. Foot
$509
$537
6%
Properties for Sale
132
123 -7%
Properties Pending Sales
82
91 11%
Properties Sold
91
102 12%
Days on Market (Sold Homes)
25
31 24%
Monthly Supply of Inventory
1.5
1.2 -20%
Absorption Rate (Closed Sales) 68.9 82.9 20%
Listings for Sale
91
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $1,000 $864
$900
$3,000
$817
$800
102
$2,593
$2,500$700
Listings Sold
$600
$2,000
$1,655
$500
31
Days On Market
$1,500$400 $300
$1,000
$200
$500
$100
$-
$Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
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