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Transcript of 310.541.6416 | mdmegowan@gmail.com · PDF file BEVERLY HILLS 9454 Wilshire Blvd. Suite 600...

  • Palos Verdes and Harbor Cities Market Intelligence Report

    Vol. 4 | February 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

    Re/MaX estate properties 700+ Local Agents • 17 Offices • Luxury Residential

    Commercial Investment Division • International

    Palos Verdes Estates

    Palos Verdes Peninsula

    Rancho Palos Verdes

    Rolling Hills

    Rolling Hills Estates

    310.541.6416 | mdmegowan@gmail.com www.maureenmegowan.com

    RE/MAX Hall of Fame • RE/MAX Platinum & 100% Club • CLHMS-Luxury Home Specialist • PV & Seniors Specialist • DRE #01368971.

  • 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 February 2018 are based on data available at the end of January 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

  • JANUARY STATS

    AVERAGE & MEDIAN PRICE

    Jan. Jan. % 2017 2018 Change

    Median Sold Price

    Key Facts:

    Average Sold Price

    Listings for Sale

    Listings Pending

    Listings Sold

    Days On Market

    $1,655

    $2,593

    $-

    $500

    $1,000

    $1,500

    $2,000

    $2,500

    $3,000

    $3,500

    Median Average

    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)

    $1,550,000

    $1,590,000

    31

    18

    15

    42

    $2,040 $1,550 -24%

    $663 $716 8%

    47 31 -34%

    17 18 6%

    12 15 25%

    66 42 -36%

    3.9 2.1 -46%

    25.5 48.4 90%

    Palos Verdes Estates

    $1,550

    $1,590

    $-

    $500

    $1,000

    $1,500

    $2,000

    $2,500

    $3,000

    Jan. 2017

    Feb. 2017

    Mar. 2017

    Apr. 2017

    May 2017

    June 2017

    July 2017

    Aug. 2017

    Sept. 2017

    Oct. 2017

    Nov. 2017

    Dec. 2017

    Jan. 2018

  • JANUARY STATS

    AVERAGE & MEDIAN PRICE

    Jan. Jan. % 2017 2018 Change

    Median Sold Price

    Key Facts:

    Average Sold Price

    Listings for Sale

    Listings Pending

    Listings Sold

    Days On Market

    $1,655

    $2,593

    $-

    $500

    $1,000

    $1,500

    $2,000

    $2,500

    $3,000

    $3,500

    Median Average

    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)

    $1,311,000

    $1,403,000

    65

    50

    24

    69

    $1,114 $1,311 18%

    $543 $561 3%

    83 65 -22%

    26 50 92%

    28 24 -14%

    57 69 21%

    3 2.7 -10%

    33.7 36.9 9%

    Rancho Palos Verdes

    $1,311

    $1,403

    $-

    $200

    $400

    $600

    $800

    $1,000

    $1,200

    $1,400

    $1,600

    Jan. 2017

    Feb. 2017

    Mar. 2017

    Apr. 2017

    May 2017

    June 2017

    July 2017

    Aug. 2017

    Sept. 2017

    Oct. 2017

    Nov. 2017

    Dec. 2017

    Jan. 2018

  • JANUARY STATS

    AVERAGE & MEDIAN PRICE

    Jan. Jan. % 2017 2018 Change

    Median Sold Price

    Key Facts:

    Average Sold Price

    Listings for Sale

    Listings Pending

    Listings Sold

    Days On Market

    $1,655

    $2,593

    $-

    $500

    $1,000

    $1,500

    $2,000

    $2,500

    $3,000

    $3,500

    Median Average

    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)

    $3,500,000

    $3,710,000

    21

    3

    3

    197

    $3,950 $3,500 -11%

    $776 $768 -1%

    17 21 24%

    1 3 200%

    1 3 200%

    225 197 -12%

    17 7 -59%

    5.9 14.3 142%

    Rolling Hills

    $3,500

    $3,710

    $-

    $500

    $1,000

    $1,500

    $2,000

    $2,500

    $3,000

    $3,500

    $4,000

    $4,500

    Jan. 2017

    Feb. 2017

    Mar. 2017

    Apr. 2017

    May 2017

    June 2017

    July 2017

    Aug. 2017

    Sept. 2017

    Oct. 2017

    Nov. 2017

    Dec. 2017

    Jan. 2018

  • JANUARY STATS

    AVERAGE & MEDIAN PRICE

    Jan. Jan. % 2017 2018 Change

    Median Sold Price

    Key Facts:

    Average Sold Price

    Listings for Sale

    Listings Pending

    Listings Sold

    Days On Market

    $1,655

    $2,593

    $-

    $500

    $1,000

    $1,500

    $2,000

    $2,500

    $3,000

    $3,500

    Median Average

    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)

    $1,500,000

    $1,355,000

    11

    8

    5

    36

    $870 $1,500 72%

    $520 $515 -1%

    22 11 -50%

    6 8 33%

    9 5 -44%

    123 36 -71%

    2.4 2.2 -8%

    40.9 45.5 11%

    Rolling Hills Estates

    $1,500

    $1,355

    $-

    $200

    $400

    $600

    $800

    $1,000

    $1,200

    $1,400

    $1,600

    Jan. 2017

    Feb. 2017

    Mar. 2017

    Apr. 2017

    May 2017

    June 2017

    July 2017

    Aug. 2017

    Sept. 2017

    Oct. 2017

    Nov. 2017

    Dec. 2017

    Jan. 2018

  • JANUARY STATS

    AVERAGE & MEDIAN PRICE

    Jan. Jan. % 2017 2018 Change

    Median Sold Price

    Key Facts:

    Average Sold Price

    Listings for Sale

    Listings Pending

    Listings Sold

    Days On Market

    $1,655

    $2,593

    $-

    $500

    $1,000

    $1,500

    $2,000

    $2,500

    $3,000

    $3,500

    Median Average

    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)

    $490 $569 16%

    $357 $375 5%

    86 53 -38%

    59 47 -20%

    47 20 -57%

    48 41 -15%

    1.8 2.7 50%

    54.7 37.7 -31%

    $569,000

    $623,000

    53

    47

    20

    41

    San Pedro

    $569

    $623

    $-

    $100

    $200

    $300

    $400

    $500

    $600