San Pedro Real Estate Market Update

Market Report for the Month of September 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 October.

 

Total Area Data (SFR):

Let’s get to it; San Pedro this month recorded 36 new listings. These homes had an average listing price of $763,256 when they hit the market. The median listing price for San Pedro was $752,500. Generally, these listings stayed on the market for 40 days on average, with a median of 23 days. 

Continuing on, the average sale price for these properties was $749,033 with a median sale price of $696,000. To end the month, there were a total of 29 Single Family Residences sold which totaled $21,721,976 in Real Estate sold. 

To compare to the month of September:

• New Listings +28.57%
• Average Listing Price ↓ 6.98%
• Average Days on Market +66.67%
• Average Sale Price ↓15.72%
• Total Sales +7.41%
• Total Sales Volume ↓ 1.95%

Area Breakdown

For further quantification of the data, all areas included in this Market Update have been broken down into groups of three based on various factors:

• Eastview, Vista Del Oro, and Miraleste Pines
• South Shores, Palisades, and Point Fermin 
• Plaza, Holy Trinity, and San Pedro – North

Area One: Eastview, Vista Del Oro, and Miraleste Pines (SFR)

To start, Area One had gathered 15 new listings during the month of October. These listings had an average listing price of $817,387 with a median of $849,000.

These properties would stay on the market for an average of 34 days with a median of 23. On average, there was a sales price of $742,917 in these three neighborhoods with a median of $743,250. Lastly, Area One, tallied 12 sales with a total sales volume of $8,915,000. 

Area Two: South Shores, Palisades, and Point Fermin

Next up to bat is South Shores, Palisades, and Point Fermin; in this area we saw a total of 12 new listings for the month of October. With that, the properties had an average listing price of $777,283 and a median listing price of $752,000. 

After hitting the market, they would remain active for an average of 52 days with a median of 12. When these properties sold, there was an average sales price of $853,107 and a median sales price of $752,667. 

Lastly, in Area Two, there was a total of 9 completed transactions totaling $7,677,967 in Real Estate sold. 

Area Three: Plaza, Holy, Trinity, and San Pedro (North)

Rounding out the groups, Area Three, had totaled 9 new listings during the course of the month. Properties in these areas had an average listing price of $654,333 with a median listing price of $705,000. 

These properties had an average days on market count of 36 with a median count of 31. Once they sold, the average sales price was $641,125 with a median sales price of $672,000. 

To end the summary, Area Three, had 8 transactions through the course of October which totaled $5,129,000 in Real Estate sold. 

Total Area Data (Condominium / Townhome): 

Now let’s take a look and see how Condominiums and Townhomes faired during the month of October. During the month there were 20 new listings that came on the market. Generally, the average listing price for these properties was $480,590 with a median listing price of $489,000. 

Once these properties were on the market, they stayed there for an average of 39 days with a median of 14. After being sold, there was an average sales price of $486,662 and a median sales price of $467,000. 

Last but not least, throughout October there were 21 completed transactions which had a total sales volume of $10,219,200.

In order to keep this blog from running too long, below is a condensed version of the Area Breakdown for Condominiums and Townhomes. 

Area One: Eastview, Vista Del Oro, and Miraleste Pines CND/TWNHM

• 10 New Listings
• Average Listing Price of $488,690 
• Average Days on Market of 56
• Average Sale Price of $468,500
• 10 Total Sales
• Total Sales Volume of $4,685,000

Area Two: South Shores, Palisades, and Point Fermin

• 2 New Listings 
• Average Listing Price of $544,950
• Average Days on Market of 12 
• Average Sale Price of $518,333
• 3 Total Sales 
• Total Sales Volume of $1,555,000

Area Three: Plaza, Holy, Trinity, and San Pedro (North)

• 8 New Listings 
• Average Listing Price of $454,375
• Average Days on Market of 28
• Average Sale Price of $497,488
• 8 Total Sales
• Total Sales Volume of $3,979,900