Happy Holidays from El Segundo Real Estate

From our family to yours we wish you a very Merry Christmas and Happy Holiday season. El Segundo, with it’s small town charm, is a fantastic place to enjoy the holidays. There are numerous events in downtown El Segundo as well as the neighboring South Bay cities of Hermosa, Manhattan, Redondo and Torrance.

Happy Thanksgiving from El Segundo MLS

From our family to yours….we wish you a very happy Thanksgiving

El Segundo and South Bay Open Houses

Take a look at the list below to see this weeks open houses in El Segundo and the South Bay

Big Ups and Big Downs in the South Bay Real Estate Market

What a crazy month July was in the South Bay.  The year over year % changes in median home prices were drastic in many cases with some cities seeing huge increases while others saw major drops.  Unfortunately real estate in El Segundo CA was on the losing end with median home prices being almost 20% lower than they had been in July of 2016.  One of the reasons was the rash of newer, and more expensive, construction a year ago somewhat artificially inflating prices.  El Segundo saw a high number of homes close escrow with 20 sold homes in July at a median home price of just under $1,055,000.  While that’s considerably lower than the previous July, that is still a very big number in El Segundo.  Click here to see the recent home sales in El Segundo and the South Bay.

City Homes Sold July 2017 Median July 2016 Median Year over Year % Change%
Carson 60 $480,000 $445,000 8%
El Segundo 20 $1,055,000 $1,310,000 -19.5%
Gardena 65 $549,000 $454,000 21%
Harbor City 15 $439,000 $550,000 -20.2%
Hawthorne 35 $730,000 $562,000 30%
Hermosa Beach 19 $2,025,000 $1,410,000 43.6%
Lawndale 15 $515,000 $430,000 19.8%
Lomita 21 $598,000 $585,000 2.1%
Long Beach 331 $520,000 $471,500 10.3%
Manhattan Beach 48 $2,449,000 $2,200,000 11.3%
Marina Del Rey 36 $921,000 $974,000 -5.4%
Palos Verdes Estates 28 $1558,000 $1,800,000 -13.4%
Playa Del Rey 20 $613,000 $629,000 -2.5%
Rancho Palos Verdes 63 $1,345,000 $1,160,000 15.9%
Redondo Beach 95 $975,000 $920,000 6%
San Pedro 63 $542,000 $542,000 0%
Torrance 113 $687,000 $617,000 11.4%
Westchester 33 $1,185,000 $1,116,000 6.2%

Why Days on Market Can Be Misleading on El Segundo Homes

By Keith Kyle

I’m sure most MLS systems are different but here in the South Bay the days on market on the CRMLS can be a bit misleading.  Many buyer and agents use days on market as a negotiating tool….the longer the home has been on the market, the more leverage the buyer has to come in low or negotiate other favorable terms.

The problem is that days on market doesn’t always indicate just how long the home has been available and is not necessarily indicative of “active” status.  As realtors when our clients accept an offer we have the option of changing the status to “pending” or “active under contract”.  Pending stops the days on market from accruing, but active under contract does not.  A home can go into escrow on day one, change the status to active under contract (again meaning it’s in escrow) and if it falls out of escrow 20 days later the days on market for the home will show 20.  It’s very misleading as the home has not been available for those 20 days and now puts the seller and listing agent at a disadvantage…..even though it sold the first day.

The other aspect that leads to misinformation is that with this days on market accruing on many home, it does not allow for an accurate picture of the market.  For instance a certain area of town or city itself may show an average days on market for a certain month to be one thing….when many of those homes were not actually available.  It may show days on market at 45 when the reality is that the homes in the community actually go into escrow after 30.

It’s a problem that needs to be addressed as it can change perceptions….both on an individual home and the market in general.

El Segundo CA Home Sales and Prices for November 2016

By Keith Kyle

El Segundo posted some solid home sales numbers in November 2016 with 14 homes selling at a median price of just over $816,000.  Although this was a dramatic 30% drop from November 2015 it was representative of a solid month.  The prior November was an extreme exception as median prices of over $1,000,000 are very rare in this costal community.  To see the home sales in El Segundo click here.

City Homes
Sold
November
2016 Median
November
2015 Median
Year
over Year % Change%
Carson 54 $450,000 $420,000 7%
El Segundo 14 $816,000 $1,171,000 -30.3%
Gardena 44 $504,000 $413,000 22%
Harbor City 9 $523,000 $404,000 29.5%
Hawthorne 37 $575,000 $520,000 10.6%
Hermosa Beach 17 $1,380,000 $1,625,000 -15%
Lawndale 8 $393,000 $521,000 -24.6%
Lomita 6 $473,000 $535,000 -11.6%
Long Beach 298 $490,000 $435,000 12.6%
Manhattan Beach 38 $1,863,000 $1,831,000 1.7%
Marina Del Rey 21 $955,000 $945,000 1.1%
Palos Verdes Estates 25 $1,550,000 $1,675,000 -7.5%
Playa Del Rey 20 $658,000 $612,000 7.5%
Rancho Palos Verdes 47 $1,088,000 $945,000 15.1%
Redondo Beach 75 $900,000 $855,000 5.3%
San Pedro 58 $515,000 $485,000 6.3%
Torrance 112 $656,000 $585,000 12.1%
Westchester 32 $943,000 $892,000 5.7%

El Segundo – Get Out and Vote!

Whatever your political beliefs and who you are voting for, it’s critical that we all exercise our right to vote.  Put your i-votedaddress below to view your nearest polling station.

August 2016 Home Sales and Median Prices in El Segundo CA

By Keith Kyle340_via_colusa_living2-copy

August 2016 was a solid month for homes throughout the South Bay with El Segundo seeing a whopping increase in median home price over August of 2015.  El Segundo saw 15 closed home and property sales in the month of August with a median home price of $1,075,000.  With typical median prices hovering around $800,000 for most of 2016 this was a fairly incredible number.  As of October 23rd 2016 there are 31 active homes and income properties for sale in El Segundo and 17 homes currently in escrow.    View the current homes for sale in El Segundo, CA or view a list of the homes sold in El Segundo and the South Bay in August.

City Homes
Sold
August
2016 Median
August
2015 Median
Year
over Year % Change%
Carson 56 $450,000 $430,000 4.7%
El Segundo 15 $1,075,000 $780,000 37.8%
Gardena 43 $470,000 $399,000 17.8%
Harbor City 24 $523,000 $450,000 16.1%
Hawthorne 47 $575,000 $493,000 16.8%
Hermosa Beach 22 $1,723,000 $1,389,000 24.%
Lawndale 16 $498,000 $437,000 13.8%
Lomita 23 $619,000 $510,000 21.4%
Long Beach 348 $463,000 $459,000 .8%
Manhattan Beach 36 $1,800,000 $1,923,000 -6.4%
Marina Del Rey 24 $1,059,000 $928,000 14.1%
Palos Verdes Estates 42 $1,412,000 $1,815,000 -22.2%
Playa Del Rey 16 $623,000 $560,000 11.2%
Rancho Palos Verdes 57 $1,065,000 $1,155,000 -7.8%
Redondo Beach 100 $968,000 $842,000 15%
San Pedro 70 $481,000 $475,000 1.3%
Torrance 179 $645,000 $585,000 10.3%
Westchester 44 $1,093,000 $890,000 22.7%

The Luxury Home Market of El Segundo

El Segundo is a charming coastal town just South of LAX known for it’s small town charm and community feel. 340_Via_Colusa_front7 copy Although it hasn’t been known as a luxury real estate market for long, that’s certainly changing with the number of high end homes continually increasing.  We asked only a year ago whether El Segundo was ready for homes priced over $2,000,000 and it hasn’t taken long for that answer to clearly be that it is ready to be competive with some high end neighbors including Manhattan Beach and Hermosa Beach.  While $2.0M+ homes are still somewhat rare there have been a record high number of homes approaching that rarified price point.

Since the beginning of the year there have been 36 homes that have come on the market priced over $1,500,000.  That’s a fairly unbelievable number considering that there were only 14 $1.5M+ homes on the market in 2014 and 2015 combined.  To view the current homes for sale visit our El Segundo home sales page or contact us to received a targeted email update for homes in this, or any price range.

El Camino Village – The Community You may Never Have Heard of

While we specialize in El Segundo real estate and the cities of the Beach Cities, we are often asked what “up and coming” neighborhood might be a good place to consider in the South Bay.

One neighborhood we think offers a great combination of affordable prices and a great community feel is El Camino Village.  While not actually a city, the neighborhood of El Camino consist of parts of Lawndale and parts of Gardena.  Generally the real estate in El Camino Village is worth quite a bit more than the other adjacent neighborhoods of Gardena and Lawndale.  Click on the El Camino Village Real Estate picture below to see updates, new listings, and information on this great area.

el_camino_village_lawndale_real_estate_website
Contact area realtor Keith Kyle with Vista Sotheby’s International Realty more information.