Vol. 6 | July 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 • 13 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720
Matthew Powers Realtor®
Cell (310) 280-6083 E-Mail MPowers@eplahomes.com MPowersRealty.com DRE# 02057166
“A ship is always safe at shore but that is not what it’s built for”
124 Washington Blvd. Marina Del Rey, CA 90292
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................3 Gardena..................................................................4 Hawthorne..............................................................5 Hermosa Beach......................................................7 Lawndale................................................................7 Lomita.....................................................................8 Manhattan Beach...................................................9 Redondo Beach....................................................10 Torrance................................................................11 Carson...................................................................12
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 July 2020 are based on data available at the end of June 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 june Stats Key Facts:
$1,325,000
Median Sold Price
$1,232,000
Average Sold Price
16
JUNE JUNE % 2019 2020 Change
Median Price (in $1,000)
$1,105
$1,325
20%
Average Price Per Sq. Foot
$674
$698
4%
Properties for Sale
17
16 -6%
Properties Pending Sales
15
17 13%
Properties Sold
14
13 -7%
Days on Market (Sold Homes)
25
29 16%
Monthly Supply of Inventory
1.2
1.2 0%
Absorption Rate (Closed Sales) 82.4 81.3 -1%
Listings for Sale
Average & Median Price
$1,800
17
Listings Pending
$1,600
$3,500 $1,400
$3,000 $1,200
13
Listings Sold
$2,593
$2,500 $1,000
$2,000 $800
29
Days On Market
$1,655
$1,500
$600
$1,000
$400
$500
$200
$-
$Jun 2019
Jul 2019
Aug 2019
Sep 2019
Oct 2019
Dec 2019
Median
Jan Feb 2020 2020
Average
Mar 2020
Apr 2020
May 2020
Jun 2020
Gardena June Stats Key Facts:
$603,000
Median Sold Price
$554,000
Average Sold Price
23
JUNE 2019
Listings Pending
22
Listings Sold
$600
$603
1%
Average Price Per Sq. Foot
$408
$394
-3%
Properties for Sale
64
23 -64%
Properties Pending Sales
41
34 -17%
Properties Sold
31
22 -29%
Days on Market (Sold Homes)
39
36 -8%
Monthly Supply of Inventory
2.1
1 -52%
Absorption Rate (Closed Sales) 48.4 95.7 98%
Average & Median Price $620 $3,500 $554
$600 $3,000 $580
Days On Market
$603
$2,593
$2,500
$560 $2,000 $540
36
% Change
Median Price (in $1,000)
Listings for Sale
34
JUNE 2020
$1,655
$1,500 $520
$500 $1,000 $480 $500 $460 $-
Median
Average
Hawthorne june Stats Key Facts:
$720,000
Median Sold Price
$731,000
Average Sold Price
36
JUNE JUNE % 2019 2020 Change
Median Price (in $1,000)
$648
$720
11%
Average Price Per Sq. Foot
$471
$534
13%
Properties for Sale
49
Properties Pending Sales
30 32 7%
Properties Sold
38
27 -29%
Days on Market (Sold Homes)
37
21 -43%
Monthly Supply of Inventory
1.3
1.3 0%
Absorption Rate (Closed Sales) 77.6 75 -3%
Listings for Sale
32
Listings Pending
Average & Median Price $3,500$900 $731
$800
$720
$3,000 $700
27
$2,593
$2,500$600
Listings Sold $2,000
$500
$1,655
$400
21
Days On Market
36 -27%
$1,500
$300
$1,000$200 $100
$500 $-
$-
Median
Average
Hermosa Beach June Stats Key Facts:
$1,938,000 Median Sold Price
$2,750,000
Average Sold Price
55
JUNE 2019
JUNE 2020
% Change
Median Price (in $1,000)
$1,775
$1,938
9%
Average Price Per Sq. Foot
$1,182
$1,264
7%
Properties for Sale
68
55 -19%
Properties Pending Sales
18
23 28%
Properties Sold
15
18 20%
Days on Market (Sold Homes)
30
33 10%
Monthly Supply of Inventory
4.5
3.1 -31%
Absorption Rate (Closed Sales) 22.1
32.7 48%
Listings for Sale
23
Listings Pending
18
Average & Median Price $3,000
$3,500 $2,750
$2,500 $3,000
$1,938
$2,593
$2,000 $2,500
Listings Sold $1,500 $2,000
$1,655
33
Days On Market
$1,500 $1,000 $1,000 $500 $500 $-
$-
Median
Average
Lawndale june Stats Key Facts:
$573,000
Median Sold Price
$577,000
Average Sold Price
20
Median Price (in $1,000)
$577
$573
-1%
Average Price Per Sq. Foot
$601
$454
-24%
Properties for Sale
20
20 0%
Properties Pending Sales
15
15 0%
Properties Sold
6
12 100%
Days on Market (Sold Homes)
19
22 16%
Monthly Supply of Inventory
3.3
1.7 -48%
Absorption Rate (Closed Sales) 30
60 100%
Listings for Sale
15
Listings Pending
JUNE JUNE % 2019 2020 Change
Average & Median Price $3,500 $800 $577
$3,000 $700
12
Listings Sold
$573 $2,593
$600 $2,500 $500 $2,000 $400
22
Days On Market
$1,655
$1,500 $300 $200 $1,000 $100 $500 $$-
Median
Average
Lomita June Stats Key Facts:
$739,000 Median Sold Price
$699,000
Average Sold Price
17
JUNE 2019
Listings Pending
$600
$739
23%
Average Price Per Sq. Foot
$404
$432
7%
Properties for Sale
17
17 0%
Properties Pending Sales
15
11 -27%
Properties Sold
19
9 -53%
Days on Market (Sold Homes)
22
19 -14%
Monthly Supply of Inventory
0.9
1.9 111%
Absorption Rate (Closed Sales) 111.8
Listings Sold
52.9 -53%
Average & Median Price $3,500 $900 $699
$800 $3,000
9
% Change
Median Price (in $1,000)
Listings for Sale
11
JUNE 2020
$700
$739 $2,593
$2,500 $600 $2,000 $500
19
Days On Market
$1,655
$400 $1,500 $300 $1,000 $200 $100 $500 $$-
Median
Average
Manhattan Beach june Stats Key Facts:
$2,187,000 Median Sold Price
$2,520,000 Average Sold Price
111
JUNE JUNE % 2019 2020 Change
Median Price (in $1,000)
$2,616
$2,187
-16%
Average Price Per Sq. Foot
$1,060
$987
-7%
Properties for Sale
135
111 -18%
Properties Pending Sales
37
58 57%
Properties Sold
29
30 3%
Days on Market (Sold Homes)
33
49 48%
Monthly Supply of Inventory
4.7
3.7 -21%
Absorption Rate (Closed Sales) 21.5
Listings for Sale
58 Listings Pending
27 26%
Average & Median Price $3,500 $4,000 $3,500 $3,000
30 Listings Sold
$2,520 $2,593
$3,000 $2,500
$2,187
$2,500 $2,000 $2,000
49
Days On Market
$1,655
$1,500 $1,500 $1,000 $1,000 $500 $500 $$-
Median
Average
Redondo Beach June Stats Key Facts:
$1,136,000 Median Sold Price
$1,155,000
Average Sold Price
97
JUNE 2019
JUNE 2020
Median Price (in $1,000)
$1,150
$1,136
-1%
Average Price Per Sq. Foot
$617
$609
-1%
Properties for Sale
114
97 -15%
Properties Pending Sales
65
84 29%
Properties Sold
83
44 -47%
Days on Market (Sold Homes)
26
25 -4%
Monthly Supply of Inventory
1.4
2.2 57%
Absorption Rate (Closed Sales) 72.8
45.4 -38%
Listings for Sale
84
Listings Pending
Average & Median Price $3,500 $1,600
$1,155 $1,400 $3,000
44
Listings Sold
% Change
$1,136 $2,593
$1,200 $2,500
$1,000 $2,000
$800
25
Days On Market
$1,655
$1,500
$600
$1,000 $400
$200 $500
$$-
Median
Average
Torrance june Stats Key Facts:
$867,000
Median Sold Price
$987,000
Average Sold Price
104
Median Price (in $1,000)
$831
$867
4%
Average Price Per Sq. Foot
$542
$598
10%
Properties for Sale
139
104 -25%
Properties Pending Sales
92
109 18%
Properties Sold
88
86 -2%
Days on Market (Sold Homes)
25
24 -4%
Monthly Supply of Inventory
1.6
1.2 -25%
Absorption Rate (Closed Sales) 63.3 82.7 31%
Listings for Sale
109
Listings Pending
JUNE JUNE % 2019 2020 Change
Average & Median Price $1,200
$3,500
$987 $1,000 $3,000 $867
86
$2,593 $2,500 $800
Listings Sold $2,000
$600
24
Days On Market
$1,655
$1,500
$400 $1,000
$200 $500
$$-
Median
Average
Carson June Stats Key Facts:
$563,000 Median Sold Price
$570,000
Average Sold Price
31
Listings Pending
Listings Sold
% Change
$578
$563
-3%
Average Price Per Sq. Foot
$365
$374
2%
Properties for Sale
51
31 -39%
Properties Pending Sales
34
34 0%
Properties Sold
29
20 -31%
Days on Market (Sold Homes)
24
23 -4%
Monthly Supply of Inventory
1.8
1.6 -11%
Absorption Rate (Closed Sales) 56.9 64.5 13%
Average & Median Price $600
$3,500
$570
$580
20
JUNE 2020
Median Price (in $1,000)
Listings for Sale
34
JUNE 2019
$3,000
$563
$560
$2,593
$2,500
$540
$2,000 $1,655
$520
23
Days On Market
$1,500
$500
$1,000
$480 $500
$460 $-
Median
Average
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
SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292
MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274
Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045
SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274
EL SEGUNDO 402 Main Street El Segundo, CA 90245
MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275
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© 2015-20 RE/MAX Estate Properties
Matthew Powers RealtorÂŽ
Cell (310) 280-6083 E-Mail MPowers@eplahomes.com MPowersRealty.com DRE# 02057166
124 Washington Blvd. Marina Del Rey, CA 90292