March 2020 – Monthly Market Update

San Pedro Real Estate Market Update

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 March.

Total Area Data (SFR):

Looking back at the month of March, there were 34 new Single Family Homes that came on to the market. This was a 6.25% increase compared to the month of February.

The average listing price for a single family home during the past month was $852,715, a decrease of 1.10%. In contrast, the median listing price was $847,000 showing an increase of 0.9%.

Once on the market, a single family home spent an average of 35 days there. The median days on market was 15. Both showed decreases of time on the market by 22.22% and 37.50%. 

Once a property sold, it had an average price of $820,882 with a median of $877,738. Once again, both categories showed increases. The average rose by 3.87% and the median by 3.7%.

Lastly, there was a total of 28 sales through the month of March, a increase of 3.7%. These sales totaled to $22,984,710 in real estate sold. 

Total Area Data (COND / TWNH)

Switching gears; for townhouses and condominiums there were 23 new listings through the month of March. This was a decreased compared to the month of February by 14.41%. 

The average listing price for March was $484,252, also a decrease, by 6.99%. The median listing price for a townhouse or condominium was $445,000. The median decreased this month by 15.88%. 

Properties of this type spent an average of 35 days on the market, which was a decrease in time by 6.06%. The median days on market was 12, which showed no change compared to last month. 

Once sold, a townhouse or condominum had an average sale price of $528,429, showing an increase of 16.16%. The median sale price of properties of these types was $550,00 also showing an increase, by 23.72%. 

Lastly, the number of sales for the month of March was 21, a 110% increase and a total sales volume of $11,097,000 showing an increase of 1.09%. 

Data per Area Group (Combined Types)

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

Single Family Homes

• 18 New Listings
• Average Listing Price: $938,933
• Average Days on Market: 29
• Average Sale Price: 876,833
• Total Sales: 10
• Total Sales Volume: $8,768,334

Condominiums & Townhouses

• 6 New Listings
• Average Listing Price: $492,389
• Average Days on Market: 63
• Average Sale Price: $492,389
• Total Sales: 9
• Total Sales Volume: $4,431,500

Area Two: South Shores, Palisades, & Point Fermin 

Single Family Homes 

• 7 New Listings 
• Average Listing Price: $774,214
• Average Days on Market: 51
• Average Sale Price: $928,056
• Total Sales: 9
• Total Sales Volume: $8,352,500

Condominiums & Townhouses

• 4 New Listings 
• Average Listing Price: $490,750
• Average Days on Market: 21
• Average Sale Price: $569,750
• Total Sales: 2
• Total Sales Volume: $1,139,500

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

Single Family Homes

• 9 New Listings 
• Average Listing Price: $733,111
• Average Days on Market: 25
• Average Sale Price: $651,542
• Total Sales: 9
• Total Sales Volume: $5,863,876

Condominiums & Townhouses

• 13 New Listings
• Average Listing Price: $500,215
• Average Days on Market: 13
• Average Sale Price: $552,600
• Total Sales: 10
• Total Sales Volume: $5,526,000

For other months, click the link below:

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