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Redondo Beach Residential Real Estate Market Conditions March 2016

March 2016 Redondo Beach Real Estate Market Trends Update

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Page 1: March 2016 Redondo Beach Real Estate Market Trends Update

Redondo Beach Residential Real Estate

Market Conditions March 2016

Page 2: March 2016 Redondo Beach Real Estate Market Trends Update

Table of

Contents

Key Statistics for March

Sales 2016 Residential Sales Stats Year-to-Year Total Sales by Map Area Median 2016 Median Sales Stats Year-to-Year Median Sales by Map Area Listings 2016 Active Listings by Map Area 2016 Total Active Listings vs. Total Sales Year-to-Year Active Listings by Map Area Inventory 2016 Months of Inventory by Map Area Year-to-Year Months of Inventory

Summary

About Hady Chahine Contact Information

Page 3: March 2016 Redondo Beach Real Estate Market Trends Update

Key Statistics for March

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= trending positive = trending positive

= trending negative = trending negative

Month-to-Month Comparison Feb 2016 Mar 2016 Delta (qty) Delta (%) Increase Decrease

Total Sales 34 73 39 114.7%

Median Sales Price 947,450 915,000 (32,450) -3.4%

Median Days to Sell 36 29 -7 -19.4%

Listings 116 123 7 6.0%

Sales/Listing Ratio 29.3% 59.3% 30.0% 102.4%

Months of Inventory 3.0 2.0 -1.0 -33.3%

Monthly Comparison Year-to-Year Mar 2015 Mar 2016 Delta Delta Increase Decrease

Total Sales 82 73 -9 -11.0%

Median Sales Price 870,000 915,000 45,000 5.2%

Median Days to Sell 28 29 1 3.6%

Listings 142 123 -19 -13.4%

Months of Inventory 2.0 2.0 0 0.0%

Page 4: March 2016 Redondo Beach Real Estate Market Trends Update

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Total Sales Month-to-Month by Map Area Jan Feb Mar

N Redondo Beach/Villas North 9 5 9

S Redondo Beach W of PCH 6 2 14

N Redondo Beach/Villas South 15 11 15

S Redondo Beach S of Torrance Blvd 10 7 14

S Redondo Beach N of Torrance Blvd 8 7 7

N Redondo Beach/Golden Hills 3 1 11

N Redondo Beach/El Nido 3 1 3

Total Sales 54 34 73

-

10

20

30

40

50

60

70

80

Jan Feb Mar

2016 Total Sales Month-to-Month by Map Area

N Redondo Beach/Villas North

S Redondo Beach W of PCH

N Redondo Beach/Villas South

S Redondo Beach S of Torrance Blvd

S Redondo Beach N of Torrance Blvd

N Redondo Beach/Golden Hills

N Redondo Beach/El Nido

Total Sales

Page 5: March 2016 Redondo Beach Real Estate Market Trends Update

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Total Sales Year-to-Year by Map Area 2014 2015 2016

N Redondo Beach/Villas North 19 19 9

S Redondo Beach W of PCH 7 10 14

N Redondo Beach/Villas South 20 24 15

S Redondo Beach S of Torrance Blvd 5 9 14

S Redondo Beach N of Torrance Blvd 12 9 7

N Redondo Beach/Golden Hills 12 6 11

N Redondo Beach/El Nido 4 5 3

Total Sales 79 82 73

-

10

20

30

40

50

60

70

80

90

2014 2015 2016

Total Sales Year-to-Year by Map Area: March

N Redondo Beach/Villas North

S Redondo Beach W of PCH

N Redondo Beach/Villas South

S Redondo Beach S of Torrance Blvd

S Redondo Beach N of Torrance Blvd

N Redondo Beach/Golden Hills

N Redondo Beach/El Nido

Total Sales

Page 6: March 2016 Redondo Beach Real Estate Market Trends Update

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Median Sales Price Month-to-Month by Map Area Jan Feb Mar

N Redondo Beach/Villas North 853,450 995,000 1,077,500

S Redondo Beach W of PCH 922,500 1,535,000 1,050,000

N Redondo Beach/Villas South 919,000 890,400 829,000

S Redondo Beach S of Torrance Blvd 895,000 641,850 868,750

S Redondo Beach N of Torrance Blvd 839,000 1,045,000 1,225,000

N Redondo Beach/Golden Hills 945,000 850,000 877,500

N Redondo Beach/El Nido 720,000 645,000 670,000

Market Median Sales Price 878,250 947,450 915,000

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

Jan Feb Mar

2016 Median Sales Price Month-to-Month by Map Area

N Redondo Beach/Villas North

S Redondo Beach W of PCH

N Redondo Beach/Villas South

S Redondo Beach S of Torrance Blvd

S Redondo Beach N of Torrance Blvd

N Redondo Beach/Golden Hills

N Redondo Beach/El Nido

Market Median Sales Price

Page 7: March 2016 Redondo Beach Real Estate Market Trends Update

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Median Sales Price Year-to-Year by Map Area 2014 2015 2016

N Redondo Beach/Villas North 710,000 861,300 1,077,500

S Redondo Beach W of PCH 1,009,000 870,000 1,050,000

N Redondo Beach/Villas South 735,400 755,750 829,000

S Redondo Beach S of Torrance Blvd 830,000 910,000 868,750

S Redondo Beach N of Torrance Blvd 830,000 1,008,200 1,225,000

N Redondo Beach/Golden Hills 862,000 952,500 877,500

N Redondo Beach/El Nido 742,500 899,900 670,000

Market Median Sales Price 760,000 870,000 915,000

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

2014 2015 2016

Median Sales Price Year-to-Year by Map Area: March

N Redondo Beach/Villas North

S Redondo Beach W of PCH

N Redondo Beach/Villas South

S Redondo Beach S of Torrance Blvd

S Redondo Beach N of Torrance Blvd

N Redondo Beach/Golden Hills

N Redondo Beach/El Nido

Market Median Sales Price

Page 8: March 2016 Redondo Beach Real Estate Market Trends Update

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Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

N Redondo Beach/Villas North 9 18 18

S Redondo Beach W of PCH 25 31 22

N Redondo Beach/Villas South 20 23 28

S Redondo Beach S of Torrance Blvd 16 17 24

S Redondo Beach N of Torrance Blvd 16 12 13

N Redondo Beach/Golden Hills 10 15 14

N Redondo Beach/El Nido 2 - 4

Total Active Listings 98 116 123

-

5

10

15

20

25

30

35

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2016 Active Listings by Map Area

N Redondo Beach/Villas North

S Redondo Beach W of PCH

N Redondo Beach/Villas South

S Redondo Beach S of Torrance Blvd

S Redondo Beach N of Torrance Blvd

N Redondo Beach/Golden Hills

N Redondo Beach/El Nido

Page 9: March 2016 Redondo Beach Real Estate Market Trends Update

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Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

N Redondo Beach/Villas North 9 18 18

S Redondo Beach W of PCH 25 31 22

N Redondo Beach/Villas South 20 23 28

S Redondo Beach S of Torrance Blvd 16 17 24

S Redondo Beach N of Torrance Blvd 16 12 13

N Redondo Beach/Golden Hills 10 15 14

N Redondo Beach/El Nido 2 - 4

Total Active Listings 98 116 123

Total Sales 54 34 73

Sales/Listings Ratio 55.1% 29.3% 59.3%

-

20

40

60

80

100

120

140

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2016 Total Active Listings vs. Total Sales

Total Active Listings Total Sales

Page 10: March 2016 Redondo Beach Real Estate Market Trends Update

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Active Listings Year-to-Year by Map Area 2014 2015 2016

N Redondo Beach/Villas North 37 28 18

S Redondo Beach W of PCH 41 20 22

N Redondo Beach/Villas South 29 33 28

S Redondo Beach S of Torrance Blvd 23 23 24

S Redondo Beach N of Torrance Blvd 17 14 13

N Redondo Beach/Golden Hills 10 9 14

N Redondo Beach/El Nido 15 15 4

Total Active Listings 172 142 123

-

20

40

60

80

100

120

140

160

180

2014 2015 2016

Active Listings Year-to-Year by Map Area: March

N Redondo Beach/Villas North

S Redondo Beach W of PCH

N Redondo Beach/Villas South

S Redondo Beach S of Torrance Blvd

S Redondo Beach N of Torrance Blvd

N Redondo Beach/Golden Hills

N Redondo Beach/El Nido

Total Active Listings

Page 11: March 2016 Redondo Beach Real Estate Market Trends Update

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Months of Inventory by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

N Redondo Beach/Villas North 1.0 4.0 2.0

S Redondo Beach W of PCH 4.0 16.0 2.0

N Redondo Beach/Villas South 1.0 2.0 2.0

S Redondo Beach S of Torrance Blvd 2.0 2.0 2.0

S Redondo Beach N of Torrance Blvd 2.0 2.0 2.0

N Redondo Beach/Golden Hills 3.0 15.0 1.0

N Redondo Beach/El Nido 1.0 - 1.0

-

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2016 Months of Inventory by Map Area

N Redondo Beach/Villas North

S Redondo Beach W of PCH

N Redondo Beach/Villas South

S Redondo Beach S of Torrance Blvd

S Redondo Beach N of Torrance Blvd

N Redondo Beach/Golden Hills

N Redondo Beach/El Nido

Page 12: March 2016 Redondo Beach Real Estate Market Trends Update

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Months of Inventory Year-to-Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2014 3.0 4.0 2.0 2.0 3.0 3.0 2.0 3.0 3.0 2.0 2.0 1.0

2015 2.0 3.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 3.0 1.0

2016 2.0 3.0 2.0

-

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2016 Months of Inventory Year-to-Year

2014

2015

2016

Page 13: March 2016 Redondo Beach Real Estate Market Trends Update

Summary Redondo Beach real estate activity improved in March as total sales increased 114.7% compared to February. Other metrics of notable concern include medians days to sell (19.4%), net listings (+6.0%), and sales-listing ratio (+102.4%). The median sales price, however, dropped marginally by 3.4%.

In the news… According to C.A.R., “March’s statewide median home price was $483,280, up 8.9 percent from February and up 4 percent from March 2015.” (http://www.car.org/newsstand/newsreleases/2016releases/march2016sales?view=Standard)

For listing or buying questions or representation, or additional statistics on market trending behavior, please do not hesitate to contact me to schedule a time to discuss how I can be of service to you.

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Monthly Comparison Year-to-Year Mar 2015 Mar 2016 Delta Delta Increase Decrease

Total Sales 82 73 -9 -11.0%

Median Sales Price 870,000 915,000 45,000 5.2%

Median Days to Sell 28 29 1 3.6%

Listings 142 123 -19 -13.4%

Months of Inventory 2.0 2.0 0 0.0%

Month-to-Month Comparison Feb 2016 Mar 2016 Delta (qty) Delta (%) Increase Decrease

Total Sales 34 73 39 114.7%

Median Sales Price 947,450 915,000 (32,450) -3.4%

Median Days to Sell 36 29 -7 -19.4%

Listings 116 123 7 6.0%

Sales/Listing Ratio 29.3% 59.3% 30.0% 102.4%

Months of Inventory 3.0 2.0 -1.0 -33.3%

Page 14: March 2016 Redondo Beach Real Estate Market Trends Update

Serving South Bay Home Buyers and Sellers Since 2001

RE/MAX Top 4 Team in California – 2012

RE/MAX 100% Club - 2011

Shorewood Realtors Top 5% in Overall Sales 2001-2006, 2008-2010

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About

Hady Chahine…

Page 15: March 2016 Redondo Beach Real Estate Market Trends Update

The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor’s personal, non-commercial use and may not be used for

any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet

Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy

of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal

inspection by and/or with the appropriate professionals.

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Listings MLS BLOG Website

Hady Chahine

[email protected]

• 310-404-5361