Vol. 6 | November 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 • 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
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 Carson...................................................................13
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.
El Segundo OCTOBER STATS Key Facts:
$1,469,000
Median Sold Price
$1,423,000
Average Sold Price
20
OCTOBER
2019
Change
$848
$1,469
73%
Average Price Per Sq. Foot
$560
$686
23%
Properties for Sale
13
20 54%
Properties Pending Sales
11
13 18%
Properties Sold
8
13 63%
Days on Market (Sold Homes)
29
20 -31%
Monthly Supply of Inventory
1.6
1.5 -6%
Absorption Rate (Closed Sales) 61.5 65 6%
AVERAGE & MEDIAN PRICE
$1,800
Listings Pending
2020
Median Price (in $1,000)
Listings for Sale
13
OCTOBER %
$3,500
$1,600
$1,400
$3,000
13
$1,200
$2,593
$2,500
Listings Sold
$1,000
$2,000 $1,655
$800
20
Days On Market
$1,500 $600
$1,000 $400
$500 $200
$-
$Oct 2019
Nov 2019
Dec 2019
Jan 2020
Feb 2020
Median
Apr 2020
May 2020
Jun Jul 2020 Aug 2020 2020
Average
Sep 2020
Oct 2020
Gardena OCTOBER STATS Key Facts:
$643,000
Median Sold Price
$622,000
Average Sold Price
29
OCTOBER
2019
Listings Pending
2020
Change
Median Price (in $1,000)
$525
$643
22%
Average Price Per Sq. Foot
$423
$436
3%
Properties for Sale
44
29 -34%
Properties Pending Sales
41
47 15%
Properties Sold
33
28 -15%
Days on Market (Sold Homes)
29
19 -34%
Monthly Supply of Inventory
1.3
1 -23%
Absorption Rate (Closed Sales) 75
Listings for Sale
47
OCTOBER %
96.6 29%
AVERAGE & MEDIAN PRICE $622
$3,500$700
$643
$3,000$600
28
$2,593 $2,500$500
Listings Sold $2,000$400 $1,655
19
Days On Market
$1,500$300 $1,000$200 $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
Hawthorne OCTOBER STATS Key Facts:
$728,000
Median Sold Price
$760,000
Average Sold Price
28
OCTOBER
2019
Listings Pending
2020
Change
Median Price (in $1,000)
$789
$728
-8%
Average Price Per Sq. Foot
$525
$534
2%
Properties for Sale
39
28 -28%
Properties Pending Sales
30
42 40%
Properties Sold
31
42 35%
Days on Market (Sold Homes)
25
26 4%
Monthly Supply of Inventory
1.3
0.7 -46%
Absorption Rate (Closed Sales) 79.5 150 89%
Listings for Sale
42
OCTOBER %
AVERAGE & MEDIAN PRICE $3,500$900
$760
$800
$728
$3,000 $700
42
$2,593
$2,500
$600
Listings Sold
$2,000$500 $1,655 $400
26
Days On Market
$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
Hermosa Beach OCTOBER STATS Key Facts:
$1,795,000 Median Sold Price
$2,298,000
Average Sold Price
67
Listings Pending
2019
2020
Change
$1,851
$1,795
-3%
Average Price Per Sq. Foot
$965
$1,168
21%
Properties for Sale
60
67 12%
Properties Pending Sales
18
18 0%
Properties Sold
13
17 31%
Days on Market (Sold Homes)
48
53 10%
Monthly Supply of Inventory
4.6
3.9 -15%
Absorption Rate (Closed Sales) 21.7 25.4 17%
AVERAGE & MEDIAN PRICE $3,000
$3,500 $2,298
$2,500
$3,000
17
OCTOBER %
Median Price (in $1,000)
Listings for Sale
18
OCTOBER
$1,795
$2,593
$2,000 $2,500
Listings Sold $2,000 $1,500
53
Days On Market
$1,655
$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
Lawndale OCTOBER STATS Key Facts:
$700,000
Median Sold Price
$672,000
Average Sold Price
OCTOBER
2019
Listings Pending
Change
$663
$700
6%
Average Price Per Sq. Foot
$475
$430
-9%
Properties for Sale
10
14 40%
Properties Pending Sales
7
8 14%
Properties Sold
10
20 100%
Days on Market (Sold Homes)
27
28 4%
1
0.7 -30%
Absorption Rate (Closed Sales) 100
Listings for Sale
8
2020
Median Price (in $1,000)
Monthly Supply of Inventory
14
OCTOBER %
142.9 43%
AVERAGE & MEDIAN PRICE $3,500
$672
$800
$700
$3,000 $700
20
Listings Sold
$2,593
$600 $2,500 $500
$2,000
$1,655
$400
28
Days On Market
$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
Lomita OCTOBER STATS Key Facts:
$660,000 Median Sold Price
$677,000
Average Sold Price
18
OCTOBER
2019
Listings Pending
Listings Sold
Change
$775
$660
-15%
Average Price Per Sq. Foot
$424
$481
13%
Properties for Sale
15
18 20%
Properties Pending Sales
16
21 31%
Properties Sold
12
16 33%
Days on Market (Sold Homes)
42
12 -71%
Monthly Supply of Inventory
1.3
1.1 -15%
Absorption Rate (Closed Sales) 80
88.9 11%
AVERAGE & MEDIAN PRICE $3,500 $900
$3,000 $800
16
2020
Median Price (in $1,000)
Listings for Sale
21
OCTOBER %
$677
$2,593
$700
$660
$2,500
$600
$2,000
$500
12
Days On Market
$1,655
$400 $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
Manhattan Beach OCTOBER STATS Key Facts:
$2,880,000 Median Sold Price
$3,215,000 Average Sold Price
109
Listings Pending
2019
Listings Sold
Days On Market
Change
$2,880
35%
Average Price Per Sq. Foot
$1,014
$1,117
10%
Properties for Sale
101 109 8%
Properties Pending Sales
50
39 -22%
Properties Sold
23
51 122%
Days on Market (Sold Homes)
67
40 -40%
Monthly Supply of Inventory
4.4
2.1 -52%
Absorption Rate (Closed Sales) 22.8
46.8 105%
AVERAGE & MEDIAN PRICE $3,500 $4,000 $3,215 $2,880
$2,593
$3,000 $2,500 $2,500 $2,000
$1,655
$2,000
40
2020
$2,129
$3,000 $3,500
51
OCTOBER %
Median Price (in $1,000)
Listings for Sale
39
OCTOBER
$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
Redondo Beach OCTOBER STATS Key Facts:
OCTOBER
2019
Median Price (in $1,000)
$1,075,000 Median Sold Price
$1,166,000
Average Sold Price
86
Average Price Per Sq. Foot
Listings Pending
2020
Change
$1,096
$1,075
-2%
$636
$623
-2%
Properties for Sale
111
86 -23%
Properties Pending Sales
67
70 4%
Properties Sold
68
81 19%
Days on Market (Sold Homes)
26
26 0%
Monthly Supply of Inventory
1.6
1.1 -31%
Absorption Rate (Closed Sales) 61.3
94.2 54%
Listings for Sale
70
AVERAGE & MEDIAN PRICE $3,500 $1,600 $1,166 $1,400 $3,000
81
Listings Sold
$1,075 $2,593
$1,200 $2,500 $1,000 $2,000
$1,655
$800
26
Days On Market
OCTOBER %
$1,500 $600 $1,000 $400 $500 $200 $$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Torrance OCTOBER STATS Key Facts:
$914,000
Median Sold Price
$982,000
Average Sold Price
92
Listings Pending
2019
Listings Sold
2020
Change
$800
$914
14%
Average Price Per Sq. Foot
$545
$550
1%
Properties for Sale
110
92 -16%
Properties Pending Sales
87
96 10%
Properties Sold
92
103 12%
Days on Market (Sold Homes)
36
16 -56%
Monthly Supply of Inventory
1.2
0.9 -25%
Absorption Rate (Closed Sales) 83.6 112 34%
AVERAGE & MEDIAN PRICE $1,200 $3,500 $982 $3,000 $1,000
103
OCTOBER %
Median Price (in $1,000)
Listings for Sale
96
OCTOBER
$914 $2,593
$2,500 $800 $2,000 $1,655
$600
16
Days On Market
$1,500 $400 $1,000 $200 $500
$-$Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 Median
Average
Carson OCTOBER STATS Key Facts:
$555,000 Median Sold Price
$566,000
Average Sold Price
28
Listings Pending
34
Listings Sold
2019
OCTOBER %
2020
Change
Median Price (in $1,000)
$530
$555
5%
Average Price Per Sq. Foot
$345
$405
17%
Properties for Sale
36
28 -22%
Properties Pending Sales
54
34 -37%
Properties Sold
53
34 -36%
Days on Market (Sold Homes)
33
15 -55%
Monthly Supply of Inventory
0.7
0.8 14%
Absorption Rate (Closed Sales) 147.2 121.4 -18%
Listings for Sale
34
OCTOBER
AVERAGE & MEDIAN PRICE $620 $3,500
$566
$600 $3,000 $580
$2,593
$2,500 $555
$560 $2,000 $540
15
Days On Market
$1,655
$1,500 $520 $1,000 $500 $500 $480 $$460 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
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
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© 2015-19 RE/MAX Estate Properties
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