South Bay Market Intelligence Report Vol. 4 October 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 Hermosa Beach South Redondo Manhattan Beach Torrance North Redondo RE/MAX Estate Properties 700+ Local Agents 16 Offices Luxury Residential Commercial Investment Division International R E / M A X E S TAT E P R O P E R T I E S Cari Corbalis 310.704.4014 DRE# 00850678 Britt Austin 310.938.9167 DRE# 01799654 contact@cariandbritt.com www.cariandbritt.com
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 October are based on data available at the end of September. 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.
SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. Hermosa Beach...4 Manhattan Beach...5 Redondo Beach...6 Torrance...7
Hermosa Beach SEPTEMBER Stats Key Facts: $1,715,000 Median Sold Price $1,732,000 Average Sold Price 59 Listings for Sale 20 Listings Pending Median Price Average Price Per Sq. Foot Properties for Sale Properties Pending Sales Properties Sold Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales) $3,500 $3,000 SEPT. SEPT. % Change $2,400 $1,715-29% $1,383 $914-34% 50 59 18% 14 20 43% 9 12 33% 44 37-16% 5.6 4.9-13% 18 20.3 13% Average & Median Price 12 Listings Sold 37 Days On Market $2,500 $2,000 $1,500 $1,000 $1,732 $1,715 $500 $- Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Median Average
Manhattan Beach SEPTEMBER Stats Key Facts: $2,288,000 Median Sold Price $2,968,000 Average Sold Price 105 Listings for Sale 30 Listings Pending Median Price Average Price Per Sq. Foot Properties for Sale Properties Pending Sales Properties Sold Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales) $4,000 SEPT. SEPT. % Change $2,050 $2,288 12% $1,290 $1,135-12% 123 105-15% 27 30 11% Average & Median Price 33 24-27% 43 27-37% 3.7 4.4 19% 26.8 22.9-15% 24 Listings Sold 27 Days On Market $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $2,968 $2,288 $500 $- Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Median Average
Redondo Beach SEPTEMBER Stats Key Facts: $1,009,000 Median Sold Price $1,041,000 Average Sold Price 116 Listings for Sale 59 Listings Pending SEPT. SEPT. % Change Median Price Average Price Per Sq. Foot Properties for Sale Properties Pending Sales Properties Sold Days on Market (Sold Homes) Monthly Supply of Inventory $1,070 $571 110 46 85 25 1.3 $1,009 $565 116 59 44 25 2.6-6% -1% 5% 28% -48% 0% 100% Absorption Rate (closed sales) 77.3 37.9-51% $1,400 Average & Median Price 44 Listings Sold $1,200 $1,000 $1,041 $1,009 25 Days On Market $800 $600 $400 $200 $- Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Median Average
Torrance SEPTEMBER Stats Key Facts: $800,000 Median Sold Price $851,000 Average Sold Price 132 Listings for Sale 91 Listings Pending Median Price Average Price Per Sq. Foot Properties for Sale Properties Pending Sales Properties Sold Days on Market (Sold Homes) Monthly Supply of Inventory Absorption Rate (closed sales) $1,400 SEPT. SEPT. % Change $790 $800 1% $511 $509 0% 104 132 27% 97 91-6% 105 91-13% 21 25 19% Average & Median Price 1 1.5 50% 101 68.9-32% $1,200 91 Listings Sold $1,000 $800 $851 $800 25 Days On Market $600 $400 $200 $- Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Median Average
RE/MAX Estate Properties 700+ Local Agents 16 Offices Luxury Residential International Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212 WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254 SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505 REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732 RE/MAX COMMERCIAL & INVESTMENT REALTY DOWNTOWN LOS ANGELES SOUTH BAY www.remaxcir.com LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071 SOUTH BAY 23001 Hawthorne Blvd., Suite 205 Torrance, CA 90505
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RE/MAX ESTATE PROPERTIES Cari Corbalis 310.704.4014 DRE# 00850678 contact@cariandbritt.com Britt Austin 310.938.9167 DRE# 01799654 www.cariandbritt.com