April 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 April.

Total Area Data (SFR):

Let’s begin by taking a look back at San Pedro as a whole the market for single family homes.

To start, there were 17 new listings through the month of April. To compare to last month, that was a decrease of 50%. 

These single family homes, on average, had a listing price of $700,858. This price was a decrease compared to the average price in March by 17.81%.

The median listing price was $729,000 which also was a decrease of 13.39% as compared to the March numbers. 

These properties would stay on the market for an average of 16 days. This was a positive decrease of 54.29%. The median also had a positive decrease, the median was 8 days with a 46.67% 

Once sold, there was an average sale price of $795,417. This was a decrease by 3.10%.  The median sale price for the month of April was $799,000. This also decreased by 8.97% as compared to March. 

Lastly, there was a total of 21 sales through the month of April, which was a drop of 25%. The total sales volume for April was $16,703,750. This was a decrease of 27.33%. 

Total Sales Volume (Condominiums & Townhouses) 

Moving forward, let’s talk about condominiums and townhouses. Beginning with the new listings, there were 16 for the month of April. This was a decrease in new listings by 30.43%. 

The average listing price for Condominiums and Townhouses through the month of April was $517,550. This was an increase of  6.88% compared to last month. 

The median listing price was $531,950, this showed an increase of 19.54%. 

Next, the average days on market for the month of April was 18. This was a positive decrease by 48.57%. The median, was 11 which also had a positive decrease of 8.33%. 

Once these properties sold, they had an average sale price of $481,600. The median sale price was $525,000. Both showed decreases of 8.86% and 4.55% respectively. 

Lastly, there was a total of 15 sales through month of April, these sales amounted to $7,224,000. Both of these categories showed decreases. Total sales decreased by 28.57% while total sales volume decreased by 34.90%. 

Data per Area Group (Combined Types)

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

Single Family Homes

• 8 New Listings 
• Average Listing Price – $822,361
• Average Days on Market – 11 
• Average Sale Price – $888,275
• Total Sales – 10 
• Total Sales Volume – $8,882,750

Condominiums & Townhouses

• 2 New Listings 
• Average Listing Price – $669,450
• Average Days on Market – 8
• Average Sale Price – $406,600
• Total Sales – 5
• Total Sales Volume – $2,033,000

Area Two: South Shores, Palisades, & Point Fermin 

Single Family Homes 

• 6 New Listings 
• Average Listing Price – $822,361 
• Average Days on Market – 28
• Average Sale Price – $751,000
• Total Sales – 7
• Total Sales Volume – $5,257,000

Condominium & Townhouses

• 4 New Listings 
• Average Listing Price – $513,475
• Average Days on Market – None 
• Average Sale Price – No Sales in April
• Total Sales – 0
• Total Sales Volume – $0

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

Single Family Homes

• 3 New Listings 
• Average Listing Price – $619,333
• Average Days on Market – 10
• Average Sale Price – $641,000
• Total Sales – 4
• Total Sales Volume – $2,564, 000

Condominiums & Townhouses 

• 10 New Listings 
• Average Listing Price – $488,800
• Average Days on Market – 23
• Average Sale Price – $519,100
• Total Sales – 10 
• Total Sales Volume – $5,191,000

Single Family Data

Condominium & Towhnhouse Data