Q2 Market Report 2022
SOUTH BAY
Quarterly Intelligence Report Quarterly Market Intelligence Report For All Your South Bay and Palos Verdes Real Estate Needs 1st Quarter 2022 2nd Quarter 2022
COOKIE LORENZO ANYA JENSEN 310-418-2094
323-719-4781
CookieLorenzoRE@gmail.com
AnyaNorthup@gmail.com
DRE# 00971609
DRE# 01983103
SOUTH BAY MARKETS Carson
4
El Segundo
6
Gardena
8
Hawthorne
10
Hermosa Beach
12
Hollywood Riviera
14
Lawndale
16
Lomita
18
Manhattan Beach
20
Redondo Beach
22
Torrance
24
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 the previous month exceed current inventory.
The South Bay 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 are in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2022.
CARSON Located just 13 miles south of downtown Los Angeles, Carson is the newest incorporated city in the South Bay region. Carson is home to California State University, Dominguez Hills. With more than 120 acres of green space dedicated to outdoor recreation and an expansive sports complex for soccer, tennis, and track and field, Carson offers plentiful opportunities to soak in the California sunshine. Bordered by West Rancho Dominguez, Compton, Rancho Dominguez, and Long Beach, Carson residents enjoy close proximity to South Bay beaches and industrial and tech hubs while offering a warm and inviting suburban lifestyle.
ATTRACTIONS •
Carson Park
•
Dignity Health Sports Park
•
International Printing Museum
RESTAURANTS •
Gnome Village
•
Rosario's Italian Restaurant
•
Darrow's New Orleans Grill
•
Go Kart World
•
Chinollo
•
Back Home in Lahaina
•
Anderson Park
•
Hiccups Tea House
•
Orleans & York Deli
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
213
118
$786K
10
$503
55%
156
137
$673K
7
$442
88%
+37%
-14%
+17%
+38%
+14%
-37%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price $830,000
$705,000 $650,000
$665,000 $737,500
$790,000 84
50
60 41
Apr-21
46
47
May-21
49
Jun-21
59
70 48
Apr-22
37
May-22
33
Jun-22
EL SEGUNDO If beachside living and small-town charm with a growing community of businesses sound appealing, look no further than El Segundo. This hidden beachside gem is quickly becoming an economic powerhouse. With the Los Angeles Airport (LAX) right next door and easy connections to major freeways and metro stops, local and global travel is a breeze. Recognized as the aerospace capital of the world, this community is home to leaders in aerospace and defense, bioscience, information technology, energy, and creative media. El Segundo also offers thriving cultural experiences in sports, culture, fine dining, and more.
ATTRACTIONS
RESTAURANTS •
•
Dockweiler Beach
•
R6 Distillery
•
Old Town Music Hall
•
Automobile Driving Museum •
•
The Lakes at El Segundo
•
El Segundo Parks & Rec
•
Jame Enoteca
•
Britt's BBQ
Ali'i Fish Company
•
Ensenada's Surf & Turf
Caló Kitchen + Tequila
•
Salt Creek Grille
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
50
41
$1.76M
6
$991
82%
65
44
$1.49M
7
$793
68%
-23%
-7%
+18%
-18%
+25%
+21%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price
$1,733,222 $1,518,750
$1,700,000
$1,214,500 23
21 13
$2,052,500
21 14
17
16
13
$1,530,000 20 16
18 8
Apr-21
May-21
Jun-21
Apr-22
May-22
Jun-22
GARDENA Once known for its acres and acres of berries, Gardena is now a thriving city in the South Bay. Located approximately 40 minutes from downtown Los Angeles and 20 minutes from Manhattan Beach, this city is ideally located for commuters and beachgoers who seek a quieter life. Not without its own activities, Gardena has several parks, enticing restaurants, two card rooms, and more. Between the city and Torrance to the south, there are many opportunities for employment in industrial industries. Gardena also boasts easy freeway access to the 110, 105, and 405; residents are able to travel, and explore all that Los Angeles has to offer.
ATTRACTIONS
RESTAURANTS
•
Rowley Memorial Park
•
Arthur Lee Johnson Park
•
Spoon House Bakery
•
Jin Jja Roo
•
Thornburg Park
•
Gardena Bowl
•
Kotohira Restaurant
•
Fukagawa
•
Mas Fukai Park
•
Alondra Golf Course
•
O' Young's Rock Pot
•
Grand Fish Tacos & Ceviche
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
152
109
$789K
8
$536
72%
131
126
$669K
8
$489
96%
+16%
-13%
+18%
0%
+10%
-25%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price $825,000
$706,500
$790,000
$650,000
$650,000
$752,500
58
53
43
Apr-21
50
48 40
38
May-21
35
Jun-21
38
Apr-22
44
40 31
May-22
Jun-22
HAWTHORNE Founded in 1905 and incorporated in 1922, Hawthorne is pleasantly nestled in the South Bay with easy access to work, travel, and play. Surrounded by the 405, 110, and 105 freeways, residents have easy access to all that Greater Los Angeles has to offer. Hawthorne boasts several top companies, including SpaceX, Tesla, The Boring Company, Northrop Corporation, OSI Systems, and Century Media Records. For those looking for a family-oriented neighborhood in a thriving community, Hawthorne is a great place to call home.
ATTRACTIONS
RESTAURANTS
•
Eucalyptus Skate Park
•
Hawthorne Memorial Park
•
Bossa Nova
•
India's Tandoori Halal
•
Jim Thorpe Park
•
•
Zacatecas
•
Common Space Brewery
•
Star Helicopters
Hawthorne Municipal Airport
•
Hummus House
•
Los Angeles Ale Works
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
138
75
$968K
7
$725
54%
117
107
$845K
7
$636
91%
+18%
-30%
+14%
0%
+14%
-41%
YEAR-OVER-YEAR TRENDS Inventory
$831,000
Sales $870,000
$835,000
Median Sales Price $980,000
$938,500 $985,000 57
38
39
42
37
41
27
27
Apr-21
May-21
45 36
Jun-21
Apr-22
25
May-22
23
Jun-22
HERMOSA BEACH Hermosa Beach is home to the casual surfer lifestyle, twenty parks, and 1.8 miles of Pacific Ocean perfection. Nestled between Redondo Beach and Manhattan Beach, residents in Hermosa Beach can often be found enjoying favorite coastal pastimes, walking along the pier, playing outdoor sports such as tennis and baseball, enjoying fresh produce at the Farmer's Market, or trying new fare at one of the many restaurants. Area real estate is almost exclusively single-family homes, often designed with floor-to-ceiling windows to take advantage of the views. For those seeking coastal breezes, laid back atmosphere, and a nice distance from the city hustle, Hermosa Beach is the place.
ATTRACTIONS
RESTAURANTS
•
Hermosa Beach and Pier
•
The Farmer's Market
•
Zane's Steakhouse
•
Fritto Misto
•
The Strand
•
South Park
•
Palmilla Cocina y Tequila
•
Dia de Campo
•
The Comedy Club
•
Noble Park
•
Gum Tree
•
Chef Melba's Bistro
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
107
58
$2.15M
8
$1,212
54%
159
82
$2.09M
10
$955
52%
-33%
-29%
+3%
-21%
+27%
+5%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price
$2,350,000 $2,082,500 $1,850,000 58
$1,985,000
51
50
44
32
29
21
Apr-21
May-21
$2,067,500
$2,400,000
34
29 19
Jun-21
Apr-22
19
May-22
20
Jun-22
HOLLYWOOD RIVIERA Hollywood Riviera, coined by developer Clifford Reid in 1927, got its name from bearing a resemblance to the French Riviera and on the dream of utilizing the area's natural setting for Hollywood's silver screens. The area is bordered by Palos Verdes Estates to the south and Redondo Beach and Torrance to the north. Outdoor amenities include the famous Riviera Village, a pedestrian-friendly district for galleries, shopping, dining, a weekly Farmer's Market, and more, as well as Torrance Beach, Rat Beach, and several parks. Commuters have direct access to Highway 1 and State Routes 107 and 213.
ATTRACTIONS
RESTAURANTS
•
Torrance Beach
•
Riviera Village
•
Bettolino Kitchen
•
Gabi James
•
Rat Beach
•
El Retiro Park
•
Riviera House
•
The Hook & Plow
•
Miramar Park
•
Los Arboles Rocketship Park •
Little Sister
•
TNT Aloha Cafe
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
60
31
$2.03M
10
$1,055
52%
64
41
$1.59M
8
$883
64%
-6%
-24%
+27%
+26%
+19%
-19%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price
$1,701,500
$1,675,000
$1,402,500
$2,236,575
$1,939,000
$1,915,000
20
19
10
Apr-21
25 15
May-21
16
Jun-21
16
23
21 12
Apr-22
9 May-22
10
Jun-22
LAWNDALE Lawndale is a beautiful city and community located south of Hawthorne and west of Gardena. The city's close proximity to the beach allows residents to enjoy the marine layer almost identical to that of Manhattan Beach and El Segundo while in a quieter location away from the beach's popularity. The city is split diagonally by the 405 freeway, affording convenient access points for commuters. Recreation activities include a golf course and neighboring park that hosts year round family-friendly activities. Local employment opportunities are available in aerospace, oil, and professional services.
ATTRACTIONS
RESTAURANTS
•
Alondra Park & Golf Course
•
Jane Addams Park
•
Ensenada's Surf N Turf Grill
•
El Amigo
•
Rudolph Park
•
Hawthorne Boulevard
•
Havana Mania
•
Saigon Dish
•
Roger Anderson Park
•
LA Rugby Club
•
Pacific Rim Thai Kitchen
•
Corner Burger
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
73
32
$773K
9
$527
44%
49
33
$710K
7
$454
67%
+49%
-3%
+9%
+18%
+16%
-35%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price $800,088
$765,000 $765,000
$740,000 $755,000
$625,000
12
14
20
17
14
5 Apr-21
May-21
Jun-21
22
15
Apr-22
27
24 8 May-22
9 Jun-22
LOMITA From a simple ranch house to a sleepy narrow gauge electric railroad stop and a handful of roads named after trees and fruits, Lomita has grown into a small city that, in spite of its growth, has maintained its rustic, small-town flavor. The Lomita railroad museum still stands today as a testament to the city's history. Lomita might be one of the smallest cities in the area, and this fact is part of the area's charm. As with neighboring cities, residents have access to an eclectic blend of restaurants, recreation opportunities, and major commuting freeways. Real estate offerings are a blend of single-family and attached homes that are perfect for families, professionals, and investors.
ATTRACTIONS
RESTAURANTS
•
Lomita Railroad Museum
•
Hathaway Park
•
King Poke
•
Harry's Oklahoma BBQ
•
Lomita Park
•
Veterans Park
•
Bites and Bashes Cafe
•
Pinky's Hot Box
•
Lomita Library
•
Planet Escape Room
•
The Nook Breakfast Spot
•
Lomita's Best
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
69
32
$887K
7
$551
46%
52
56
$820K
6
$502
108%
+33%
-43%
+8%
+11%
+10%
-57%
YEAR-OVER-YEAR TRENDS Inventory
Sales $915,000
Median Sales Price $860,000
28 $915,000 $886,000 24
$860,000 $886,000 17
28 24
13
11
17 11
Apr-22
8
13 8
May-22
Jun-22
Apr-22
May-22
Jun-22
MANHATTAN BEACH Manhattan Beach is a South Bay hotspot for outdoor enthusiasts, families, and anyone who dreams of waking up to sunny beachside views every morning. The over two miles of coastline offer residents year round opportunities for relaxation, rejuvenation, and a plethora of opportunities for shopping and dining with a view. Head a few streets inland for parks, gardens, golfing, and access Highway 1. Located just south of the Los Angeles airport and an hour to Downtown Los Angeles, residents enjoy convenient access to work and enjoying what the greater area has to offer.
ATTRACTIONS •
Roundhouse Aquarium
•
The Strand Bike Path
•
Manhattan Beach Art Center
RESTAURANTS •
•
Polliwog Park & Manhattan Beach Botanical Garden Bruce's Beach
•
The Strand House
•
The Arthur J
•
Jute Coastal Bar + Kitchen
•
Zinc
•
Simmzy's
•
Nick's Manhattan Beach
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
200
101
$3.09M
9
$1,426
51%
322
157
$3.04M
11
$1,099
49%
-38%
-36%
+2%
-16%
+30%
+4%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price $3,637,500
$3,358,000 $2,765,000
$2,988,000
$3,012,500
120 104
98
48
Apr-21
52
$2,625,000
57
61
55 34
May-21
Jun-21
84
Apr-22
35
May-22
32
Jun-22
REDONDO BEACH Located at the start of Los Angeles County's coastal edge, 20 miles south of downtown Los Angeles and seven miles south of Los Angeles International Airport, Redondo Beach is a premier beachfront destination. The city offers year-round beach days, high-end shopping and dining, pristine parks, and gorgeous waterfront properties. Local opportunities can be found in the northern industrial complex anchored by Northrop Grumman and in neighboring city, Torrance. Those looking for single-family and condos/townhomes can find properties right along the water and a short walk or drive from the water's edge.
ATTRACTIONS
RESTAURANTS
•
Seaside Lagoon
•
Hopkins Wilderness Park
•
Bluewater Grill
•
Pura Vita
•
South Bay Galleria
•
Veterans Park
•
Sea Level Restaurant
•
Maderos Cocina Mexicana
•
Redondo Beach Marina
•
RB Performing Arts Center
•
The Standing Room
•
Hudson House
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
270
208
$1.51M
7
$842
77%
323
280
$1.33M
7
$702
87%
-16%
-26%
+14%
0%
+20%
-11%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price $1,500,000
$1,300,000
$1,333,500
116
$1,342,500
$1,480,000 $1,551,500
116 94
91
90
114
96 76
73
80
75 60
Apr-21
May-21
Jun-21
Apr-22
May-22
Jun-22
TORRANCE Torrance is the eigth largest city in Los Angeles County, and as such, provides an abundance of lifestyle experiences. Choose to live by the beach, slightly further inland, or in a more suburban setting. Torrance has something for everyone — traditional and luxury homes, condos, and townhomes. In Torrance, year round local events, recreation parks, museums, shopping, and a plethora of authentic cuisine are all a short distance away. Torrance is also home to El Camino College and a robust collection of industries. Aviation enthusiasts can feel at home at Zamperini field, a municipal airport primarily for private aircraft and instruction.
ATTRACTIONS
RESTAURANTS
•
Torrance Beach
•
Columbia Park
•
The San Franciscan
•
Madre
•
Zamperini Field
•
Torrance Art Museum
•
King Hawaiian Bakery
•
Shrimp By You
•
Madronna Marsh Preserve
•
Charles Wilson Park
•
Silog
•
Din Tai Fung
MARKET SUMMARY
2 ND QUARTER 20 22 2ND QUARTER
2022 2ND QUARTER
2021 PERCENT CHANGE
TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
439
343
$1.00M
8
$684
78%
342
382
$882K
7
$601
112%
+28%
-10%
+13%
+14%
+14%
-30%
YEAR-OVER-YEAR TRENDS Inventory
Sales
Median Sales Price $1,015,000
$981,500
$895,000 $870,500
$880,000
$995,000 181
138 106
Apr-21
129
118
May-21
107
126
Jun-21
114
126
Apr-22
144
107
May-22
110
Jun-22
BEVERLY HILLS
WE ARE THE COAST 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 1901 S. Catalina 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
WEST LOS ANGELES
MARINA DEL REY/VENICE WESTCHESTER/SILICON BEACH
EL SEGUNDO
MANHATTAN BEACH MANHATTAN BEACH/DOWNTOWN REDONDO BEACH TORRANCE PALOS VERDES - MALAGA COVE PALOS VERDES - SILVER SPUR PALOS VERDES - MIRALESTE
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