Vol. 6 | November 2020
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
RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
C HE RY LE U S HKOW Cell: 310-344-0183 Direct: 310-937-5700 Ext. 184 Email: clushkow@yahoo.com Website: www.SouthBayForHomes.com DRE# 01296466
Director, Re/Max Estate Properties Relocation Services Division 2018 President, South Bay Association of REALTORS® 2017-2019 Director, California Association of REALTORS® 2018 South Bay Association of Realtors® REALTOR® of the Year 1401 Highland Ave Manhattan Beach, CA 90266
Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor Cities Palos Verdes Estates........................................................3 Rancho Palos Verdes........................................................4 Rolling Hills.......................................................................5 Rolling Hills Estates .........................................................6 San Pedro.........................................................................7 Wilmington.......................................................................8 Harbor City .......................................................................9
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 November 2020 are based on data available at the end of October 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.
Palos Verdes Estates OCTOBER STATS Key Facts:
OCTOBER
2019
Median Price (in $1,000)
$2,030,000
Median Sold Price
$2,363,000
Average Sold Price
47
Average Price Per Sq. Foot
Listings Pending
21
Listings Sold
2020
Change
$1,645
$2,030
23%
$758
$819
8%
Properties for Sale
69
47 -32%
Properties Pending Sales
13
19 46%
Properties Sold
12
21 75%
Days on Market (Sold Homes)
57
52 -9%
Monthly Supply of Inventory
5.8
2.2 -62%
Absorption Rate (Closed Sales) 17.4
44.7 157%
Listings for Sale
19
OCTOBER %
AVERAGE & MEDIAN PRICE $3,500 $3,500 $3,000 $3,000
$2,363 $2,593
$2,500 $2,500
$2,030
$2,000 $2,000 $1,655
52
Days On Market
$1,500 $1,500 $1,000 $1,000
$500 $500 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Rancho Palos Verdes OCTOBER STATS Key Facts:
$1,450,000 Median Sold Price
$1,535,000
Average Sold Price
60
Listings Pending
2019
Listings Sold
Days On Market
Change
$1,450
23%
Average Price Per Sq. Foot
$584
$597
2%
Properties for Sale
127
60 -53%
Properties Pending Sales
42
55 31%
Properties Sold
43
51 19%
Days on Market (Sold Homes)
48
45 -6%
Monthly Supply of Inventory
3
1.2 -60%
Absorption Rate (Closed Sales) 33.9 85 151%
AVERAGE & MEDIAN PRICE $2,000 $3,500
$1,535
$1,800
$1,450 $2,593
$1,400 $2,500 $1,200 $2,000
$1,655
$1,000
45
2020
$1,175
$3,000 $1,600
51
OCTOBER %
Median Price (in $1,000)
Listings for Sale
55
OCTOBER
$1,500 $800 $600 $1,000 $400 $500 $200 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Rolling Hills OCTOBER STATS Key Facts:
$2,800,000
Median Sold Price
$2,729,000
Average Sold Price
OCTOBER
2019
Listings Pending
$2,800
7%
Average Price Per Sq. Foot
$883
$799
-10%
Properties for Sale
20
15 -25%
Properties Pending Sales
4
0 -100%
Properties Sold
2
3 50%
350
37 -89%
10
5 -50%
Days on Market (Sold Homes)
Absorption Rate (Closed Sales) 10
Listings Sold
$5,000 $3,500 $4,500 $2,729 $2,593 $2,800
$3,500 $2,500 $3,000 $2,000 $2,500
37
Days On Market
20 100%
AVERAGE & MEDIAN PRICE
$3,000 $4,000
3
Change
$2,613
Listings for Sale
0
2020
Median Price (in $1,000)
Monthly Supply of Inventory
15
OCTOBER %
$1,655
$2,000 $1,500 $1,500 $1,000 $1,000 $500 $500 $$-
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Rolling Hills Estates OCTOBER STATS Key Facts:
$1,550,000 Median Sold Price
$1,739,000
Average Sold Price
40
Listings Pending
2019
Listings Sold
Days On Market
Change
$1,550
38%
Average Price Per Sq. Foot
$590
$639
8%
Properties for Sale
64
40 -38%
Properties Pending Sales
41
44 7%
Properties Sold
31
35 13%
Days on Market (Sold Homes)
39
34 -13%
Monthly Supply of Inventory
2.1
1.1 -48%
Absorption Rate (Closed Sales) 48.4 87.5 81%
AVERAGE & MEDIAN PRICE $2,000 $3,500
$1,739
$1,800 $1,550 $2,593
$1,400 $2,500 $1,200 $2,000 $1,000
34
2020
$1,120
$3,000 $1,600
35
OCTOBER %
Median Price (in $1,000)
Listings for Sale
44
OCTOBER
$1,655
$1,500 $800 $600 $1,000 $400 $500 $200 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
San Pedro OCTOBER STATS Key Facts:
$610,000
Median Sold Price
$652,000
Average Sold Price
56
Listings Pending
2019
Listings Sold
Days On Market
Change
$610
7%
Average Price Per Sq. Foot
$419
$488
16%
Properties for Sale
93
56 -40%
Properties Pending Sales
49
56 14%
Properties Sold
48
58 21%
Days on Market (Sold Homes)
37
21 -43%
Monthly Supply of Inventory
1.9
1 -47%
Absorption Rate (Closed Sales) 51.6
103.6 101%
AVERAGE & MEDIAN PRICE $3,500 $800 $652 $610 $2,593
$600 $2,500 $500 $2,000
$1,655
$400
21
2020
$570
$3,000 $700
58
OCTOBER %
Median Price (in $1,000)
Listings for Sale
56
OCTOBER
$1,500 $300 $1,000 $200 $500 $100 $-$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Wilmington OCTOBER STATS Key Facts:
$563,000 Median Sold Price
$536,000
Average Sold Price
12
Listings Pending
2019
OCTOBER %
2020
Change
Median Price (in $1,000)
$515
$563
9%
Average Price Per Sq. Foot
$341
$370
9%
Properties for Sale
27
12 -56%
Properties Pending Sales
15
11 -27%
Properties Sold
8
13 63%
Days on Market (Sold Homes)
13
17 31%
Monthly Supply of Inventory
3.4
0.9 -74%
Absorption Rate (Closed Sales) 29.6
Listings for Sale
11
OCTOBER
108.3 266%
AVERAGE & MEDIAN PRICE $536 $563
$600 $3,500 $500 $3,000
13
Listings Sold
$2,593 $2,500 $400 $2,000 $300
17
Days On Market
$1,655
$1,500 $200 $1,000 $100 $500
$-$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Harbor City OCTOBER STATS Key Facts:
$583,000
Median Sold Price
$592,000
Average Sold Price
16
Listings Pending
2019
Listings Sold
Days On Market
Change
$583
-7%
Average Price Per Sq. Foot
$375
$409
9%
Properties for Sale
31
16 -48%
Properties Pending Sales
27
17 -37%
Properties Sold
21
20 -5%
Days on Market (Sold Homes)
29
22 -24%
Monthly Supply of Inventory
1.5
0.8 -47%
Absorption Rate (Closed Sales) 67.7 125 85%
AVERAGE & MEDIAN PRICE $800 $3,500 $700
$592 $583 $2,593
$2,500 $500 $2,000 $400
22
2020
$625
$3,000 $600
20
OCTOBER %
Median Price (in $1,000)
Listings for Sale
17
OCTOBER
$1,655
$1,500 $300 $1,000 $200 $500 $100 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
We Are T he Coast RE/MAX Estate Properties 600+ Local Agents • 12 Offices Luxury Residential • International Commercial Division BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050 EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425 PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
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C HE RY LE U S HKOW Cell: 310-344-0183 Direct: 310-937-5700 Ext. 184 Email: clushkow@yahoo.com Website: www.SouthBayForHomes.com DRE# 01296466
Director, Re/Max Estate Properties Relocation Services Division 2018 President, South Bay Association of REALTORS速 2017-2019 Director, California Association of REALTORS速 2018 South Bay Association of Realtors速 REALTOR速 of the Year 1401 Highland Ave Manhattan Beach, CA 90266