PALOS VERDES Market Intelligence Report Volume 7 | May 2021
PALOS VERDES MARKETS Harbor City
4
Palos Verdes Estates
6
Rancho Palos Verdes
8
Rolling Hills
10
Rolling Hills Estates
12
San Pedro
14
Wilmington
16
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 previous month exceed current inventory.
The Palos Verdes Market 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 or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2021.
HARBOR CITY Harbor City is a growing, vibrant community just east of the Palos Verdes Peninsula and 30 minutes south of downtown Los Angeles. Ideally located as a gateway between the port cities and beach cities, residents have easy access to explore the greater Los Angeles area. Harbor City is home to an expansive Kaiser hospital, regional park, and community college - providing avenues for wellness and work opportunities. Housing in Harbor city is a mixture of single-family residences and low rise apartments, many of which are walkable to delicious restaurants and parks.
ATTRACTIONS
RESTAURANTS
• Ken Malloy Harbor Park
• Harbor City Library
• Tacos El Goloso
• Philipo's Pizza and Pasta
• Machado Lake
• Harbor City Skatepark
• Raku Sushi Tonkatsu
• Monarca's Mexican Food
• Los Angeles Harbor College
• The Skating Edge Ice Arena
• Baja Fish Grill
• Chicken Maison
MARKET SUMMARY
APRIL 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
16
20
$704K
9
$405
125%
2020
25
8
$677K
19
$358
32%
PERCENT CHANGE
-36%
+150%
+4%
-53%
+13%
+291%
APRIL
2021 APRIL
13-MONTH TRENDS $775,000 $677,000
$645,000
$704,083 $592,500
$625,000
$625,000
$560,000
47 38
37
38
42
38
25 8
Apr-20
8
May-20
10
11
Jun-20
Jul-21
15
Aug-20
$582,500
$625,000
$641,620
37 20
11
Sep-20
$585,000
$630,000
18
25
20
17 9
Oct-20
Nov-20
Dec-20
Jan-21
17
16
Feb-21
16
13
Mar-21
16
20
Apr-21
PALOS VERDES ESTATES Master-planned by noted landscape architect Fredrick Law Olmstead Jr., Palos Verdes Estates is perched on the northwestern edge of the Palos Verdes Peninsula. The city ideally located for postcard perfect views and privacy while still offering close proximity to South Bay beach city nightlife. Known for it's high performing schools, Palos Verdes Peninsula High School is consistently found in top ranks in national publications. Residences in the area are pleasantly placed in between several open and green spaces and range from mid-century modern family homes to $10 million+ palatial estates - offering many options for buyers.
ATTRACTIONS
RESTAURANTS
• Palos Verdes Golf Club
• Flat Rock Point & Beach
• Salsa Verdes
• Malaga Cove Ranch Market
• Bluff Cove Trail
• George Allen Field
• Black Bamboo Sushi
• Rafaello's Pizza
• Malaga Dunes
• Roessler Point
• The Cove Cafe
• Lunada Market & Deli
MARKET SUMMARY
APRIL 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
37
20
$2.33M
9
$894
54%
2020
44
9
$1.70M
20
$677
20%
PERCENT CHANGE
-16%
+122%
+37%
-55%
+32%
+164%
APRIL
2021 APRIL
13-MONTH TRENDS $2,750,000 $2,500,000
$1,900,000 $1,700,000
44 9
Apr-20
68
62
58
1
May-20
$1,880,000
$2,033,750
17
Jun-20
Jul-21
$2,220,000
$2,030,000 $1,773,000
56
13
$2,220,400
51 26
Aug-20
47 21
Sep-20
Oct-20
$1,875,000
48
42
24
$1,932,000
28 11
Nov-20
21
Dec-20
28 13
Jan-21
$2,331,359
44
37
20
19
20
Feb-21
Mar-21
Apr-21
RANCHO PALOS VERDES Anchored by the iconic Point Vicente Lighthouse and dramatic coastal views of Catalina Island and beyond, Rancho Palos Verdes is the largest city on the peninsula. Like it's neighbors, the city enjoys highly ranked schools and is consistently ranked as one of the wealthiest zip codes in the United States. Recreation activities abound in the many horse and hiking trails as well as two golf courses, the Terranea resort, and several parks. Top city employers are in the education, resort, and real estate industries. Real estate opportunities are largely singlefamily homes that range from mid-century traditional single-story homes to truly exceptional estates.
ATTRACTIONS
RESTAURANTS
• Los Verdes Golf Course
• Peninsula Raquet Club
• Mar'sel
• Tomatillo Mexican Grill
• Point Vicente Lighthouse
• Terranea Resort
• Swan Thai
• Nelson's
• Abalone Cove Trail & Beach
• Del Cerro Park
• Avenue Italy
• Peninsula Tap House
MARKET SUMMARY
APRIL 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
90
58
$1.78M
7
$708
64%
2020
103
33
$1.40M
16
$559
32%
PERCENT CHANGE
-13%
+76%
+27%
-56%
+27%
+101%
APRIL
2021 APRIL
13-MONTH TRENDS $1,777,500
$1,400,000
$1,302,000
138
120
103
33
Apr-20
$1,312,000
26
May-20
$1,290,000
124
40
Jun-20
$1,350,000
Jul-21
51
Aug-20
$1,450,000
121
120
115
53
$1,355,000
44
Sep-20
$1,350,000
$1,395,175
$1,417,500
$1,500,000
$1,437,500
108
51
52
Oct-20
Nov-20
64
58
Dec-20
47
90
76
75 34
35
Jan-21
Feb-21
52
58
Mar-21
Apr-21
ROLLING HILLS For those ultimate privacy seekers, Rolling Hills is the perfect community. This equestrian friendly city is entirely comprised of private land and is only accessible by three gates with 24/7 staffing. Located in the central portion of the Palos Verdes Peninsula, residents are still treated to stunning coastal views and outdoor parks and trails for outdoor activities. Bordered by Portuguese Canyon, Rolling Hills Estates, and Rancho Palos Verdes, Rolling Hills offers a peaceful setting while within close proximity to fine dining, sport and recreation areas, and professional services.
ATTRACTIONS • Hesse's Gap
• Aqua Magna Canyon
• Saffo's Rest
• Westfield Park
• Stormhill Park
• Portuguese Canyon
MARKET SUMMARY
APRIL 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
17
4
$3.08M
14
$996
24%
2020
8
5
$2.70M
7
$659
63%
PERCENT CHANGE
+113%
-20%
+14%
+100%
+51%
-62%
APRIL
2021 APRIL
13-MONTH TRENDS $6,400,000
$4,275,000
$4,300,000
$4,350,000
$4,050,000 $3,432,500
$3,395,000
8
5
Apr-20
$3,385,000 $2,800,000
$2,700,000
7
1
May-20
13
1
Jun-20
13
3
Jul-21
13
3
Aug-20
9
6
Sep-20
$4,000,000
9
3
Oct-20
$3,082,500
$2,750,000
11
1
Nov-20
11
3
Dec-20
9
5
Jan-21
13
3
Feb-21
14
4
Mar-21
17
4
Apr-21
ROLLING HILLS ESTATES Founded in 1957, Rolling Hills Estates offers small town, semi-rural living with a thriving city organization. Residents are afforded three convenient shopping centers, dining, trail access, and a myriad of local community events throughout the year. The city is best known for it's love of all things equestrian, offering over 25 miles of scenic horse trails and an Equestrian Center. Real estate is largely single-family homes with nods to several custom architectural styles to choose from. Located on the northern end of the Peninsula, residents enjoy the tight-knit community as well as the close proximity to urban centers, industry, and world-famous beaches.
ATTRACTIONS
RESTAURANTS • Mama Terrano
• South Coast Botanic Garden
• Rolling Hills Park Tennis Club • Chicken Maison
• Peter Weber Equestrian Center
• Promenade Ice Chalet
• The Original Red Onion
• The Crepery Cafe
• Rolling Hills Little League
• Giorgio's
• TantaWan Thai Cuisine
MARKET SUMMARY
APRIL 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
43
38
$1.66M
6
$718
88%
2020
64
26
$1.37M
17
$586
41%
PERCENT CHANGE
-33%
+46%
+21%
-65%
+22%
+118%
APRIL
2021 APRIL
13-MONTH TRENDS $1,366,500
$1,400,000 $1,280,000
95 64 26
Apr-20
39 13
15
May-20
Jun-20
Jul-21
$1,400,000
$1,407,575
$1,458,000
$1,444,500 $1,265,000
88
86
85
76
$1,400,000
$1,311,000
$1,660,000
$1,550,000
$1,544,000
78 52
28
Aug-20
33
Sep-20
35
39
38 20
Oct-20
Nov-20
Dec-20
7
20
Jan-21
21
19
Feb-21
30
36
Mar-21
43
38
Apr-21
SAN PEDRO San Pedro is a unique and vibrant community that feels like it's own city. San Pedro is one of the cities with direct access to The port of Los Angeles, a major international seaport. Originally dominated by the fishing industry, San Pedro has grown into a working class community with a wide variety of outdoor recreation spaces, family-friendly activities, and a thriving shopping and dining scene. San Pedro is also hosts the annual Shakespeare by the Sea festival every summer. Real estate offerings include single-family homes with some condos available, offering a multitude of styles and finishes.
ATTRACTIONS
RESTAURANTS
• Point Fermin Park
• Cabrillo Beach Yacht Club
• Raffaello Ristorante
• J. Trani's Ristorante
• Cabrillo Aquarium
• Crafted at the Port of LA
• Crazy Fish - Grill & Market
• Sebastians's Mediterranean
• Deane Dana Friendship Park
• Old San Pedro
• Sirinat Thai & Sushi Bar
• Compagnon Wine Bistro
MARKET SUMMARY
APRIL 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
71
49
$640K
6
$468
69%
2020
90
43
600K
8
$427
48%
PERCENT CHANGE
-21%
+14%
+7%
-25%
+10%
+44%
APRIL
2021 APRIL
13-MONTH TRENDS $801,000 $700,000 $600,000
$590,000
141
131
123
108
90 43
36
37
Apr-20
May-20
Jun-20
$682,000 $610,000
$605,000
58
Jul-21
$692,500 $610,000
128
122 66
Aug-20
57
Sep-20
$592,500
$780,000
$650,250
$640,000
111 58
Oct-20
50
Nov-20
61
72 29
Dec-20
50
Jan-21
58
65 41
Feb-21
61
Mar-21
71
49
Apr-21
WILMINGTON Wilmington is one of the oldest communities in Los Angeles and enjoys a long and proud history of being the gateway to Los Angeles. Inside the area, you will find many historical museums, military installations, six parks, and waterfront attractions as well as a community center and skate plaza. Wilmington has a heavy concentration of industry and the third largest oil field in the United States, offering several employment opportunities. Wilmington is primarily comprised of single-family homes perfect for families and professionals. Bordered by Long Beach, Carson, and San Pedro, Wilmington offers convenient freeway access to explore greater Los Angeles and beyond.
ATTRACTIONS
RESTAURANTS
• Vincent Thomas Bridge
• The Banning Museum
• San Pedro Fish Market Grille
• Montoya's
• Terminal Island
• California Yacht Marina
• Issac's Cafe
• Hojas Premium Tea House
• Wilmington Waterfront Park
• John Mendez Baseball Park
• The Chowder Barge
• Eat at Rudy's
MARKET SUMMARY
APRIL 2021 TOTAL INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
MEDIAN PRICE PER SQUARE FOOT
SALES RATIO
14
11
$562K
11
$483
79%
2020
27
10
$495K
10
$354
37%
PERCENT CHANGE
-48%
+10%
+14%
+10%
+37%
+112%
APRIL
2021 APRIL
13-MONTH TRENDS $525,000
$495,000
27 10
Apr-20
$438,500
$445,000
30
31
6
May-20
26 11
Jun-20
$510,000
20 12
Jul-21
15
$540,000
21
19 7
Aug-20
$562,500
Sep-20
$552,500
$540,000
22 13 4
Oct-20
Nov-20
10
$547,500
20
15
Dec-20
$550,000
$562,000
$500,000
5
7
Jan-21
10
12
Feb-21
12
14
Mar-21
Apr-21
11
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 1720 S. Elena 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
W E A R E T H E COA S T
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720