Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | August 2018 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors Palos Verdes Estates
Rolling Hills Estates
Palos Verdes Peninsula
San Pedro
Rancho Palos Verdes
Harbor City
Rolling Hills
Wilmington
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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071
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 August 2018 are based on data available at the end of July 2018. 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 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
Palos Verdes Estates juLY Stats Key Facts:
$1,742,000
Median Sold Price
$1,996,000
Average Sold Price
57
JULY JULY % 2017 2018 Change
Median Price
$1,775
$1,742
-2%
Average Price Per Sq. Foot
$810
$708
-13%
Properties for Sale
68
57 -16%
Properties Pending Sales
23
13 -43%
Properties Sold
15
24 60%
Days on Market (Sold Homes)
24
39 63%
Monthly Supply of Inventory
4.5
2.4 -47%
Absorption Rate (closed sales) 22.1
42.1 90%
Listings for Sale
13
Listings Pending
Average & Median Price $3,000 $3,500
$2,500 $3,000
24
$1,996 $2,593 $2,500 $2,000
$1,742
Listings Sold $2,000 $1,500
39
Days On Market
$1,655
$1,500
$1,000 $1,000
$500 $500
$- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Rancho Palos Verdes JULY Stats Key Facts:
$1,232,000 Median Sold Price
$1,198,000
Average Sold Price
131
JULY JULY 2017 2018
Median Price
$1,340
$1,232
-8%
Average Price Per Sq. Foot
$560
$609
9%
Properties for Sale
124 131 6%
Properties Pending Sales
46
43 -7%
Properties Sold
63
42 -33%
Days on Market (Sold Homes) 38
24 -37%
Monthly Supply of Inventory
2
3.1 55%
Absorption Rate (closed sales) 50.8
32.1 -37%
Listings for Sale
43
Listings Pending
42
Listings Sold
% Change
Average & Median Price $1,600 $3,500 $1,400 $3,000
$1,198 $1,232
$1,200 $2,500
$2,593
$1,000 $2,000 $1,655
$800
24
Days On Market
$1,500
$600 $1,000 $400 $500 $200 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Rolling Hills juLY Stats Key Facts:
NA
Median Sold Price
NA
Average Sold Price
35
JULY JULY % 2017 2018 Change
Median Price
$4,275
NA
NA
$887
NA
NA
Average Price Per Sq. Foot Properties for Sale
27
Properties Pending Sales
0
1 NA
Properties Sold
3
0 NA
Days on Market (Sold Homes)
35
NA NA
Monthly Supply of Inventory
9
35 289%
Absorption Rate (closed sales)
11.1
NA NA
Listings for Sale
1
Listings Pending
35 30%
Average & Median Price $4,500 $3,500 $4,000 $3,000 $3,500
0
Listings Sold
$2,593
$2,500 $3,000 $2,000 $2,500 $1,655
NA
Days On Market
$2,000 $1,500 $1,500 $1,000 $1,000 $500 $500 $-
$$-
$-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Rolling Hills Estates JULY Stats Key Facts:
$925,000 Median Sold Price
$1,285,000
Average Sold Price
25
JULY JULY 2017 2018
Median Price
$1,309
$925
-29%
$597
$588
-2%
Average Price Per Sq. Foot Properties for Sale
32
25 -22%
Properties Pending Sales
16
13 -19%
Properties Sold
12
12 0%
Days on Market (Sold Homes) 33
35 6%
Monthly Supply of Inventory
2.1 -22%
Listings Pending
2.7
Absorption Rate (closed sales) 37.5 48 28%
Listings for Sale
13
Average & Median Price $1,800 $3,500 $1,600 $3,000 $1,400
12
Listings Sold
$1,285
Days On Market
$2,593
$2,500 $1,200 $2,000 $1,000
35
% Change
$925 $1,655
$800 $1,500 $600 $1,000 $400 $500 $200 $- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
San Pedro juLY Stats Key Facts:
$567,000
Median Sold Price
$575,000
Average Sold Price
88
Median Price
$542
$567
5%
Average Price Per Sq. Foot
$414
$395
-5%
Properties for Sale
109
88 -19%
Properties Pending Sales
65
62 -5%
Properties Sold
61
60 -2%
Days on Market (Sold Homes)
28
28 0%
Monthly Supply of Inventory
1.8
1.5 -17%
Absorption Rate (closed sales)
56
68.2 22%
Listings for Sale
62
Listings Pending
JULY JULY % 2017 2018 Change
Average & Median Price $3,500 $700
$575
$3,000 $600
60
Listings Sold
$567 $2,593
$2,500 $500 $2,000 $400
28
Days On Market
$1,655
$1,500 $300 $1,000 $200 $500 $100 $-
$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Wilmington JULY Stats Key Facts:
$425,000 Median Sold Price
$413,000
Average Sold Price
21
JULY JULY 2017 2018
Median Price
$440
$425
-3%
Average Price Per Sq. Foot
$324
$366
13%
Properties for Sale
14
21 50%
Properties Pending Sales
12
13 8%
Properties Sold
14
11 -21%
Days on Market (Sold Homes) 22
45 105%
Monthly Supply of Inventory
1
1.9 90%
Absorption Rate (closed sales) 100
52.4 -48%
Listings for Sale
13
Listings Pending
% Change
Average & Median Price $480 $3,500 $470 $3,000 $460
11
Listings Sold
$2,593
$450 $2,500 $440 $2,000 $430
45
Days On Market
$425$1,655
$1,500 $420
$413
$410 $1,000 $400 $500 $390 $$380
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
Harbor City juLY Stats Key Facts:
$475,000
Median Sold Price
$499,000
Average Sold Price
21
Median Price
$453
$475
5%
Average Price Per Sq. Foot
$334
$372
11%
Properties for Sale
30
21 -30%
Properties Pending Sales
13
20 54%
Properties Sold
17
14 -18%
Days on Market (Sold Homes)
44
31 -30%
Monthly Supply of Inventory
1.8
1.5 -17%
Absorption Rate (closed sales) 56.7 66.7 18%
Listings for Sale
20
Listings Pending
14
JULY JULY % 2017 2018 Change
Average & Median Price $600
$499
$3,500
$500 $3,000
$475 $2,593
$400 $2,500
Listings Sold $2,000 $300
31
Days On Market
$1,655
$1,500
$200 $1,000
$100 $500
$- $-
July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median
Average
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Lynn Peters & Lesley Siegel LynnAndLesley.com Info@LynnAndLesley.com Lic# 01320138 Lic# 01324071