Vol. 5 | September 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
RE/MAX Estate Properties 650+ Local Agents • 14 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
Broker Associate / Manager / Sales Agent Certified Luxury Home Marketing Specialist Certified International Property Specialist Certified Residential Specialist
310-367-7951 Steve@SteveGoddard.com | SteveGoddard.com DRE# 00475933
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........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8 Wilmington.......................................................................9 Harbor City .....................................................................10
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 September 2019 are based on data available at the end of August 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.
Palos Verdes Estates AUGUST STATS Key Facts:
$1,765,000
Median Sold Price
$2,076,000
Average Sold Price
81
AUG AUG % 2018 2019 Change
Median Price (in $,000)
$1,870
$1,765
-6%
$729
$767
5%
Average Price Per Sq. Foot Properties for Sale
58
81 40%
Properties Pending Sales
17
17 0%
Properties Sold
15
22 47%
Days on Market (Sold Homes)
31
67 116%
Monthly Supply of Inventory
3.9
3.7 -5%
Absorption Rate (closed sales) 25.9 27.2 5%
Listings for Sale
17
Listings Pending
AVERAGE & MEDIAN PRICE $8,000 $3,500 $7,000
$3,000
22
Listings Sold
$2,593
$6,000
$2,500 $5,000
$2,000 $4,000
67
Days On Market
$1,655
$1,500
$3,000
$2,076
$1,000
$1,765
$2,000
$500 $1,000 $-$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rancho Palos Verdes AUGUST STATS Key Facts:
$1,249,000 Median Sold Price
$1,378,000
Average Sold Price
150
AUG 2018
AUG 2019
Median Price (in $,000)
$1,130
$1,249
11%
Average Price Per Sq. Foot
$573
$540
-6%
Properties for Sale
135 150 11%
Properties Pending Sales
39
58 49%
Properties Sold
54
49 -9%
Days on Market (Sold Homes) 32
30 -6%
Monthly Supply of Inventory
3.1 24%
Absorption Rate (closed sales) 40
Listings for Sale
58
Listings Pending
2.5
$1,800 $3,500 $1,600
Listings Sold
32.7 -18%
AVERAGE & MEDIAN PRICE
$1,378
$3,000
49
% Change
$1,400
$2,593
$1,249
$2,500
$1,200
$2,000 $1,000 $1,655
30
Days On Market
$800
$1,500
$600
$1,000 $400
$500
$200
$- $-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rolling Hills AUGUST STATS Key Facts:
$3,968,000
Median Sold Price
$3,968,000
Average Sold Price
19
AUG AUG % 2018 2019 Change
Median Price (in $,000)
$3,500
$3,968
13%
$862
$655
-24%
Average Price Per Sq. Foot Properties for Sale
23
19 -17%
Properties Pending Sales
5
2 -60%
Properties Sold
2
2 0%
Days on Market (Sold Homes)
88
246 180%
Monthly Supply of Inventory
11.5
9.5 -17%
Absorption Rate (closed sales)
8.7
10.5 21%
Listings for Sale
2
Listings Pending
AVERAGE & MEDIAN PRICE $18,000
$3,500
$16,000
$3,000 $14,000
2
Listings Sold
$2,593 $2,500 $12,000 $10,000 $2,000
$1,655
$8,000
246
Days On Market
$1,500 $6,000
$3,968
$1,000
$3,968
$4,000
$2,000 $500
$-
$Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Rolling Hills Estates AUGUST STATS Key Facts:
$982,000 Median Sold Price
$1,235,000
Average Sold Price
36
AUG 2018
Listings Pending
% Change
Median Price (in $,000)
$955
$982
3%
Average Price Per Sq. Foot
$556
$565
2%
Properties for Sale
34
36 6%
Properties Pending Sales
3
13 333%
Properties Sold
16
16 0%
Days on Market (Sold Homes) 22
27 23%
Monthly Supply of Inventory
2.1
2.3 10%
Absorption Rate (closed sales) 47.1
44.4 -6%
Listings for Sale
13
AUG 2019
AVERAGE & MEDIAN PRICE $2,500 $3,500
$3,000 $2,000
16
Listings Sold
$2,593
$2,500 $1,500
$2,000
27
Days On Market
$1,235
$1,655 $982
$1,500 $1,000 $1,000 $500
$500
$-
$Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
San Pedro AUGUST STATS Key Facts:
$583,000
Median Sold Price
$612,000
Average Sold Price
89
AUG AUG % 2018 2019 Change
Median Price (in $,000)
$550
$583
6%
Average Price Per Sq. Foot
$431
$424
-2%
Properties for Sale
96
89 -7%
Properties Pending Sales
50
56 12%
Properties Sold
60
56 -7%
Days on Market (Sold Homes)
26
37 42%
Monthly Supply of Inventory
1.6
1.6 0%
Absorption Rate (closed sales) 62.5 62.9 1%
Listings for Sale
56
Listings Pending
AVERAGE & MEDIAN PRICE $3,500 $700
$612
$3,000
$583
$600
56
Listings Sold
$2,593 $2,500
$500
$2,000
$400
37
Days On Market
$1,655
$1,500 $300 $1,000 $200 $100 $500
$-$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Wilmington AUGUST STATS Key Facts:
$445,000 Median Sold Price
$425,000
Average Sold Price
18
Listings Pending
AUG 2019
% Change
Median Price (in $,000)
$475
$445
-6%
Average Price Per Sq. Foot
$390
$364
-7%
Properties for Sale
28
18 -36%
Properties Pending Sales
7
10 43%
Properties Sold
11
10 -9%
Days on Market (Sold Homes) 12
48 300%
Monthly Supply of Inventory
1.8 -28%
2.5
Absorption Rate (closed sales) 39.3 55.6 41%
Listings for Sale
10
AUG 2018
AVERAGE & MEDIAN PRICE $600 $3,500
$3,000 $500
10
Listings Sold
$425
$445
$2,593
$2,500
$400
$2,000 $1,655
$300
48
Days On Market
$1,500 $200
$1,000 $100
$500
$-$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
Harbor City AUGUST STATS Key Facts:
$572,000
Median Sold Price
$575,000
Average Sold Price
29
Median Price (in $,000)
$535
$572
7%
Average Price Per Sq. Foot
$350
$402
15%
Properties for Sale
16
29 81%
Properties Pending Sales
17
26 53%
Properties Sold
22
12 -45%
Days on Market (Sold Homes)
29
36 24%
Monthly Supply of Inventory
0.7
2.4 243%
Absorption Rate (closed sales) 137.5
41.4 -70%
Listings for Sale
26
Listings Pending
AUG AUG % 2018 2019 Change
AVERAGE & MEDIAN PRICE $700
$575
$3,500 $600
$572
$3,000
12
Listings Sold
$2,593
$500
$2,500
$400
$2,000
$1,655 $300
36
Days On Market
$1,500
$200
$1,000
$100
$500
$-
$-
Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019
Median
Average
RE/MAX Estate Properties • 600+ Local Agents • 14 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
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REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
SILICON BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
EL SEGUNDO 402 Main Street El Segundo, CA 90245
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266
SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732
Broker Associate / Manager / Sales Agent Certified Luxury Home Marketing Specialist Certified International Property Specialist Certified Residential Specialist
310-367-7951 Steve@SteveGoddard.com | SteveGoddard.com DRE# 00475933