San Pedro Real Estate Market Update

Market Report for the Month of December 2019

The below will provide market data, obtained from the California Regional Multiple Listings Service, in order to further understand the trends of our current Real Estate Market in San Pedro and the South Bay Community.  Data obtained and detailed in this blog is intended to be reliable, but is not guaranteed to be so.

There are 3 ways the data is compiled; first as an area as a whole, which includes the following criteria: Eastview, South Shores, Palisades, Point Fermin, Vista Del Oro, Plaza, Miraleste Pines, Holy Trinity, and San Pedro – North.

Following the total grouping of areas, they are then broken down into groups of three, in order to provide workable averages and medians that maintain some significance. Lastly, the areas will have averages and medians individually, in certain situations and areas we must be aware of outliers due to small number of individual sales and statistical data.

At the end of this post will be a visual breakdown of all statistics and data compiled for the month of December.

Total Area Data (SFR):

To start, through the month of December there was a total of 18 which was a decrease of 18%. 

Once on the market, the average listing price was $784,425. The median listing price for a single family home in December was $695,000. Both of these categories showed decreases of 1.09% and 7.82%.

Once listed, a single family home, on average, would stay on the market for 47 days. The median days on market count was 29. The average went down by 2.08% and the median rose by 26.09%. 

After spending it’s time on the market, the average sale price for these properties was $736,259 with a median sale price of $745,000.

Throughout the month of December there was a total of 39 homes sold. These 39 transactions added up to $28,714,105. The number of sales rose by 77.72% compared to the month prior while the total sales volume also increased, by 59.85%.

Total Area Data (Condominiums & Townhouses)

During the month of December, there were 16 new listings of these properties. This was an increase from the month prior of 6.67%. 

These new listings had an average listing price of $459,993 while their median listing price was $404,500. The average rose this month by 21.26% while the median rose by 7.01%. 

Once on the market, condominiums and townhouses generally took 37 days to sell with a median of 34. Both of these categories had negative increases of 42.31% and 183.33% compared to last month. 

When these properties sold, they had an average sale price of $451,541. The average for December was up by 4.24%. The median sale price was $429,2450, which also had an increase by 5.47%. 

Finally, throughout the month of December there were 22 sales. This was an increase of 175% compared to the month of November. The total sales volume for December was $9,993,889 in real estate sold. This was an increase of 186.65% compared to Novembers numbers. 

Area Group Data (Property Types Combined):

Area One: Eastview, Vista Del Oro, & Miraleste Pines

Single Family Homes

• 8 New Listings 
• Average Listing Price – $799,599
• Average Days on Market – 47
• Average Sale Price – $772,530
• Total Sales – 20
• Total Volume – $15,450,605

Condominiums & Townhouses

• 7 New Listings 
• Average Listing Price – $462,554
• Average Days on Market – 34
• Average Sale Price – $423,231
• Total Sales – 13 
• Total Volume – $5,501,999

Area Two: South Shores, Palisades, & Point Fermin

Single Family Homes 

• 5 New Listings 
• Average Listing Price – $873,800
• Average Days on Market – 40
• Average Sale Price – $890,400
• Total Sales – 5
• Total Volume – $4,452,000

Condominiums & Townhomes

• No New Listings 
• Average Listing Price – No New Listings 
• Average Days on Market – 45 
• Average Sale Price – $471,483
• Total Sales – 6
• Total Volume – $2,828,900

Area Three: Plaza, Holy Trinity, San Pedro – North 

Single Family Homes 

• 4 New Listings 
• Average Listing Price – $642,475 
• Average Days on Market – 50 
• Average Sale Price – $629,393
• Total Sales – 14 
• Total Volume – $8,811,500f

Condominium & Townhouses 

• 9 New Listings 
• Average Listing Price – $458,000
• Average Days on Market – 39 
• Average Sale Price – $471,483
• Total Sales – 6
• Total Volume – $2,828,900