PALOS VERDES
Market Market Intelligence Intelligence Report Volume Volume77| |June July 2021
David G. Moyers
Executive Manager Broker Assoc. | GRI | CDPE | ePRO
Cell: 310-344-9050 Direct: 310-544-0400 E-mail: DGM.realestate@gmail.com DRE# 00452112
PALOS VERDES MARKETS Harbor City
4
Palos Verdes Estates
6
Rancho Palos Verdes
8
Rolling Hills
10
Rolling Hills Estates
12
San Pedro
14
Wilmington
16
REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.
PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.
PROPERTIES FOR SALE: The total number of available properties for sale.
DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.
SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s Market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s Market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from previous month exceed current inventory.
The Palos Verdes Market Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2021.
HARBOR CITY Harbor City is a growing, vibrant community just east of the Palos Verdes Peninsula and 30 minutes south of downtown Los Angeles. Ideally located as a gateway between the port cities and beach cities, residents have easy access to explore the greater Los Angeles area. Harbor City is home to an expansive Kaiser hospital, regional park, and community college - providing avenues for wellness and work opportunities. Housing in Harbor city is a mixture of single-family residences and low rise apartments, many of which are walkable to delicious restaurants and parks.
ATTRACTIONS
RESTAURANTS
• Ken Malloy Harbor Park
• Harbor City Library
• Tacos El Goloso
• Philipo's Pizza and Pasta
• Machado Lake
• Harbor City Skatepark
• Raku Sushi Tonkatsu
• Monarca's Mexican Food
• Los Angeles Harbor College
• The Skating Edge Ice Arena
• Baja Fish Grill
• Chicken Maison
MARKET SUMMARY
JUNE 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
21
20
$523K
6
$465
95%
2020
38
10
$593K
11
$340
26%
PERCENT CHANGE
-45%
+100%
-12%
-45%
+37%
+262%
JUNE
2021 JUNE
13-MONTH TRENDS $775,000 $704,083 $592,500
$625,000
$625,000
$560,000
47 38
38
42
38
10
11
Jun-20
Jul-21
15
Aug-20
$582,500
$625,000
$641,620
$642,000 $522,800
37 20
11
Sep-20
$585,000
$630,000
18
25
20
17 9
Oct-20
Nov-20
Dec-20
Jan-21
17
16
Feb-21
16
13
Mar-21
16
20
Apr-21
20
15
May-21
21
20
Jun-21
PALOS VERDES ESTATES Master-planned by noted landscape architect Fredrick Law Olmstead Jr., Palos Verdes Estates is perched on the northwestern edge of the Palos Verdes Peninsula. The city ideally located for postcard perfect views and privacy while still offering close proximity to South Bay beach city nightlife. Known for it's high performing schools, Palos Verdes Peninsula High School is consistently found in top ranks in national publications. Residences in the area are pleasantly placed in between several open and green spaces and range from mid-century modern family homes to $10 million+ palatial estates - offering many options for buyers.
ATTRACTIONS
RESTAURANTS
• Palos Verdes Golf Club
• Flat Rock Point & Beach
• Salsa Verdes
• Malaga Cove Ranch Market
• Bluff Cove Trail
• George Allen Field
• Black Bamboo Sushi
• Rafaello's Pizza
• Malaga Dunes
• Roessler Point
• The Cove Cafe
• Lunada Market & Deli
MARKET SUMMARY
JUNE 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
49
16
$2.56M
11
$905
33%
2020
62
13
$1.90M
67
$713
21%
PERCENT CHANGE
-21%
+23%
+35%
-84%
+27%
+56%
JUNE
2021 JUNE
13-MONTH TRENDS $2,750,000
$1,900,000
$1,880,000
68
62
$2,033,750
17
Jun-20
Jul-21
$2,220,000
$2,030,000 $1,773,000
56
13
$2,220,400
$2,562,500
51 26
Aug-20
47 21
Sep-20
Oct-20
28 11
Nov-20
21
Dec-20
28 13
Jan-21
$2,070,000
$1,875,000
48
42
24
$1,932,000
$2,331,359
44
49
43
37
20
19
20
23
Feb-21
Mar-21
Apr-21
May-21
16
Jun-21
RANCHO PALOS VERDES Anchored by the iconic Point Vicente Lighthouse and dramatic coastal views of Catalina Island and beyond, Rancho Palos Verdes is the largest city on the peninsula. Like it's neighbors, the city enjoys highly ranked schools and is consistently ranked as one of the wealthiest zip codes in the United States. Recreation activities abound in the many horse and hiking trails as well as two golf courses, the Terranea resort, and several parks. Top city employers are in the education, resort, and real estate industries. Real estate opportunities are largely singlefamily homes that range from mid-century traditional single-story homes to truly exceptional estates.
ATTRACTIONS
RESTAURANTS
• Los Verdes Golf Course
• Peninsula Racquet Club
• Mar'sel
• Tomatillo Mexican Grill
• Point Vicente Lighthouse
• Terranea Resort
• Swan Thai
• Nelson's
• Abalone Cove Trail & Beach
• Del Cerro Park
• Avenue Italy
• Peninsula Tap House
MARKET SUMMARY
JUNE 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
73
57
$1.72M
8
$695
78%
2020
138
40
$1.31M
28
$603
29%
PERCENT CHANGE
-47%
+43%
+31%
-71%
+15%
+169%
JUNE
2021 JUNE
13-MONTH TRENDS $1,777,500
$1,312,000
138
$1,290,000
124
40
Jun-20
$1,350,000
Jul-21
51
Aug-20
$1,450,000
121
120
115
53
$1,355,000
44
Sep-20
$1,350,000
$1,395,175
$1,417,500
$1,500,000
$1,607,000 $1,437,500
108
51
52
Oct-20
Nov-20
64
58
Dec-20
47
90
76
75 34
35
Jan-21
Feb-21
$1,715,000
52
58
Mar-21
Apr-21
66
73 54
57
May-21
Jun-21
ROLLING HILLS For those ultimate privacy seekers, Rolling Hills is the perfect community. This equestrian friendly city is entirely comprised of private land and is only accessible by three gates with 24/7 staffing. Located in the central portion of the Palos Verdes Peninsula, residents are still treated to stunning coastal views and outdoor parks and trails for outdoor activities. Bordered by Portuguese Canyon, Rolling Hills Estates, and Rancho Palos Verdes, Rolling Hills offers a peaceful setting while within close proximity to fine dining, sport and recreation areas, and professional services.
ATTRACTIONS • Hesse's Gap
• Aqua Magna Canyon
• Saffo's Rest
• Westfield Park
• Stormhill Park
• Portuguese Canyon
MARKET SUMMARY
JUNE 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
10
10
$4.92M
37
$978
100%
2020
13
1
$4.28M
77
$939
8%
PERCENT CHANGE
-23%
+900%
+15%
-52%
+4%
+1200%
JUNE
2021 JUNE
13-MONTH TRENDS $6,400,000 $4,275,000
$4,300,000
$4,916,730
$4,350,000 $3,432,500
13
13
13
1
3
3
Jun-20
Jul-21
Aug-20
9
6
Sep-20
$4,050,000 $2,800,000
9
$2,750,000
11
11
3
1
3
Oct-20
Nov-20
Dec-20
9
$3,385,000
$3,082,500
17
14
13
$4,060,000
$4,000,000
14
5
3
4
4
Jan-21
Feb-21
Mar-21
Apr-21
5
May-21
10
10
Jun-21
ROLLING HILLS ESTATES Founded in 1957, Rolling Hills Estates offers small town, semi-rural living with a thriving city organization. Residents are afforded three convenient shopping centers, dining, trail access, and a myriad of local community events throughout the year. The city is best known for it's love of all things equestrian, offering over 25 miles of scenic horse trails and an Equestrian Center. Real estate is largely single-family homes with nods to several custom architectural styles to choose from. Located on the northern end of the Peninsula, residents enjoy the tight-knit community as well as the close proximity to urban centers, industry, and world-famous beaches.
ATTRACTIONS
RESTAURANTS • Mama Terrano
• South Coast Botanic Garden
• Rolling Hills Park Tennis Club • Chicken Maison
• Peter Weber Equestrian Center
• Promenade Ice Chalet
• The Original Red Onion
• The Crepery Cafe
• Rolling Hills Little League
• Giorgio's
• TantaWan Thai Cuisine
MARKET SUMMARY
JUNE 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
33
33
$1.65M
7
$779
100%
2020
95
15
$1.28M
10
$654
16%
PERCENT CHANGE
-65%
+120%
+29%
-30%
+19%
+533%
JUNE
2021 JUNE
13-MONTH TRENDS $1,280,000
95
39 15
Jul-21
$1,400,000
$1,407,575
$1,458,000
$1,580,250
$1,650,000
$1,444,500 $1,265,000
88
86
85
Jun-20
$1,400,000
$1,311,000
$1,660,000
$1,550,000
$1,544,000
78 52
28
Aug-20
33
Sep-20
35
39
38 20
Oct-20
Nov-20
Dec-20
7
20
Jan-21
21
19
Feb-21
30
36
Mar-21
43
38
Apr-21
36
30
May-21
33
33
Jun-21
SAN PEDRO San Pedro is a unique and vibrant community that feels like it's own city. San Pedro is one of the cities with direct access to The port of Los Angeles, a major international seaport. Originally dominated by the fishing industry, San Pedro has grown into a working class community with a wide variety of outdoor recreation spaces, family-friendly activities, and a thriving shopping and dining scene. San Pedro is also hosts the annual Shakespeare by the Sea festival every summer. Real estate offerings include single-family homes with some condos available, offering a multitude of styles and finishes.
ATTRACTIONS
RESTAURANTS
• Point Fermin Park
• Cabrillo Beach Yacht Club
• Raffaello Ristorante
• J. Trani's Ristorante
• Cabrillo Aquarium
• Crafted at the Port of LA
• Crazy Fish - Grill & Market
• Sebastians's Mediterranean
• Deane Dana Friendship Park
• Old San Pedro
• Sirinat Thai & Sushi Bar
• Compagnon Wine Bistro
MARKET SUMMARY
JUNE 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
80
69
$700K
9
$462
86%
2020
141
37
$605K
13
$421
26%
PERCENT CHANGE
-43%
+86%
+16%
-31%
+10%
+229%
JUNE
2021 JUNE
13-MONTH TRENDS $801,000 $700,000
141
131
37
Jun-20
$682,000 $610,000
$605,000
123
58
Jul-21
$692,500 $610,000
128
122 66
Aug-20
57
Sep-20
$592,500
$780,000
$650,250
$735,000
111 58
Oct-20
50
Nov-20
61
72 29
Dec-20
50
Jan-21
$700,000
$640,000
58
65 41
Feb-21
61
Mar-21
71
89
80
49
56
Apr-21
May-21
69
Jun-21
WILMINGTON Wilmington is one of the oldest communities in Los Angeles and enjoys a long and proud history of being the gateway to Los Angeles. Inside the area, you will find many historical museums, military installations, six parks, and waterfront attractions as well as a community center and skate plaza. Wilmington has a heavy concentration of industry and the third largest oil field in the United States, offering several employment opportunities. Wilmington is primarily comprised of single-family homes perfect for families and professionals. Bordered by Long Beach, Carson, and San Pedro, Wilmington offers convenient freeway access to explore greater Los Angeles and beyond.
ATTRACTIONS
RESTAURANTS
• Vincent Thomas Bridge
• The Banning Museum
• San Pedro Fish Market Grille
• Montoya's
• Terminal Island
• California Yacht Marina
• Issac's Cafe
• Hojas Premium Tea House
• Wilmington Waterfront Park
• John Mendez Baseball Park
• The Chowder Barge
• Eat at Rudy's
MARKET SUMMARY
JUNE 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
15
19
$600K
7
$472
127%
2020
31
11
$445K
14
$379
35%
PERCENT CHANGE
-52%
+73%
+35%
-50%
+25%
+257%
JUNE
2021 JUNE
13-MONTH TRENDS $659,000 $525,000
$510,000
$540,000
$562,500
$552,500
$540,000
$547,500
$550,000
$562,000
$600,000
$500,000
$445,000
31
26 11
Jun-20
20 12
Jul-21
15
21
19 7
Aug-20
Sep-20
22 13 4
Oct-20
Nov-20
10
20
15
Dec-20
5
7
Jan-21
10
12
Feb-21
21
12
14
Mar-21
Apr-21
11
15
19
6
May-21
Jun-21
BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050
PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747
PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
WEST LOS ANGELES 10500 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
W E A R E T H E COA S T
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720
David G. Moyers
Executive Manager Broker Assoc. | GRI | CDPE | ePRO
Cell: 310-344-9050 Direct: 310-544-0400 E-mail: DGM.realestate@gmail.com DRE# 00452112