San Pedro Real Estate Market Update

Market Report for the Month of February 2020

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 February.

Total Area Data (SFR):

To begin, there was a total of 32 new listings for the month of February. In comparison to the month prior, that was a 23.08% increase. 

From there, the average listing price of a home during this month was $862,162. The median listing price was slightly lower at $839,450. Both of these categories showed increases compared to the month of January. Average listing prices rose by 11.16% and the median rose by 8.46%. 

While a property was listed it would, on average, spend 45 days on the market before it sold. In comparison, the median was 24 days. Once again, February performed better than the month prior with decreases of time on market of 16.67% and 45.45%.

The average sale price for a single family home during the month of February was $823,000 and the median sale price was $845,000. Both showing increases as compared to January’s numbers: 12.21% and 13.96%. 

Last but not least, throughout this month there were a total of 27 single family homes sold, which was an increase of 3.85% compared to the month of January. Secondly, the total sales volume for February was $22,221,001. This also showed an increase of sales volume by 37.71%.

Total Area Data (Condominium & Townhouse):

Taking a different view, let’s now focus on the market for condominiums and townhouses. This month, there were 27 new listings, which was a decrease as compared to January’s numbers by 3.57%. 

Moving on, the average listing price for a condominium or a townhouse was $520,265 which was a slight increase of 2.018%. The median listing price for the month of February was $529,000. This has a small decrease of 0.189%. 

A condominium or townhouse would, on average, spend 33 days on market with a median count of 12. The have had a increase in time on the market of 22.22% while the median showed a decrease of 40%.

When sold, there was an average sale price of $454,932 and a median sale price of $444,500. Both of these categories showed increases compared to January of 0.935% and 10.71%. 

Lastly, for the month of February, there were 10 total sales which combined for a total sales volume of $10,008,500. Respectively, total sales decreased by 44.44% while the total sales volume increased by 23.36%. 

Data per Area Group (Combined) 

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

Single Family Homes

• 15 New Listings 
• Average Listing Price – $878,653
• Average Days on Market – 27 
• Average Sale Price – $840,636
• Total Sales – 11 
• Total Sales Volume – $9,247,000

Condominiums & Townhouses 

• 10 New Listings 
• Average Listing Price – $494,039
• Average Days on Market – 31
• Average Sale Price – $401,429
• Total Sales – 7 
• Total Sales Volume – $2,810,000

Area Two: South Shores, Palisades, & Point Fermin 

Single Family Homes

• 10 New Listings 
• Average Listing Price – $970,049 
• Average Days on Market – 91
• Average Sale Price – $906,286
• Total Sales – 7 
• Total Sales Volume – $6,344,000

Condominiums & Townhouses

• 4 New Listings 
• Average Listing Price – $507,000
• Average Days on Market – 82 
• Average Sale Price – $507,500
• Total Sales – 1 
• Total Sales Volume – $507,500

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

Single Family Homes

• 7 New Listings 
• Average Listing Price – $672,700
• Average Days on Market – 32 
• Average Sale Price – $736,667 
• Total Sales – 9 
• Total Sales Volume – $6,630,001

Condominiums & Townhouses

• 13 New Listings 
• Average Listing Price – $544,521 
• Average Days on Market – 30 
• Average Sale Price – $477,929
• Total Sales – 14 
• Total Sales Volume – $6,691,000