El Segundo Median Home Prices Top $880,000 for May 2017

May 2017 saw another solid month in the El Segundo real estate market with 8 homes selling at a median price of $880,000 which was almost 10% higher than the same month a year earlier. View the sold homes for May 2017 in El Segundo or visit our El Segundo real estate market statistics.

City Homes
Sold
May 2017 Median May 2016 Median Year over Year % Change%
Carson 41 $458,000 $453,000 1.2%
El Segundo 8 $880,000 $803,000 9.7%
Gardena 65 $523,000 $425,000 23.1%
Harbor City 14 $503,000 $439,000 14.5%
Hawthorne 46 $610,000 $485,000 25.8%
Hermosa Beach 26 $1,738,000 $1,285,000 35.3%
Lawndale 16 $485,000 $455,000 6.5%
Lomita 18 $653,000 $488,000 33.7%
Long Beach 356 $472,000 $485,000 -2.6%
Manhattan Beach 46 $2,175,000 $1,875,000 16%
Marina Del Rey 32 $933,000 $925,000 0.8%
Palos Verdes Estates 47 $1,650,000 $1,499,000 10.1%
Playa Del Rey 31 $720,000 $560,000 28.6%
Rancho Palos Verdes 51 $1,275,000 $1,060,000 20.3%
Redondo Beach 87 $1,054,000 $950,000 10.9%
San Pedro 63 $620,000 $489,000 26.8%
Torrance 140 $690,000 $593,000 16.4%
Westchester 44 $965,000 $1,130,000 -14.6%

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%

2016 Homes were Slightly More Affordable than in the Third Quarter of 2015

In somewhat a surprise, the CAR has come out with a housing affordabilty study and found that in 2016 homes were slightly more affordable than in 2015 in the third quarter.  Unfortunately that doesn’t impact El Segundo real estate or the South Bay much as we’re located in one of the least affordable areas in the state.

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%

El Segundo Home Sales Show HUGE increases in June of 2016

By Keith Kyle750 30th

The numbers are in and June 2016 was a big month in terms of both the number of homes sold and the prices.  Home prices were up year over year in every South Bay city other than Manhattan Beach and El Segundo was, perhaps, the most impressive.  17 homes sold in June at a stunning $1,121,000 which is way higher than normal.  It’s rare to see median prices in the million dollar price range in this small coastal community.  To see the homes sold in Manhattan Beach for June 2016 view our recent sales information.

City Homes
Sold
June
2016 Median
June
2015 Median
Year
over Year % Change%
Carson 63 $450,000 $425,000 5.8%
El Segundo 17 $1,121,000 $888,000 26.2%
Gardena 47 $430,000 $399,000 7.8%
Harbor City 18 $547,000 $360,000 51.9%
Hawthorne 37 $624,000 $539,000 15.7%
Hermosa Beach 24 $1,248,000 $1,230,000 3.6%
Lawndale 13 $519,000 $450,000 15.2%
Lomita 16 $555,000 $530,000 4.7%
Long Beach 408 $470,000 $450,000 4.4%
Manhattan Beach 40 $1,962,000 $2,400,000 -18.25%
Marina Del Rey 32 $900,000 $810,000 11.1%
Palos Verdes Estates 39 $1,533,000 $1,500,000 2.2%
Playa Del Rey 22 $603,000 $610,000 -1.2%
Rancho Palos Verdes 75 $1,200,000 $1,110,000 8.2%
Redondo Beach 106 $950,000 $870,000 9.2%
San Pedro 79 $500,000 $472,000 6%
Torrance 163 $635,000 $597,000 6.3%
Westchester 44 $1,050,000 $923,000 13.8%

8 of 11 Homes in El Segundo Ever Sold Over $2.0M Have Been in 2016*

By Keith Kyle340_Via_Colusa_front6 copy

If you need any evidence that prices are sky high in El Segundo just look towards the luxury market.  It wasn’t long ago that we wrote a post on whether El Segundo was ready for $2,000,000 homes and it seems that it’s relatively commonplace just 12 months later.  As of July 17th there are 3 single family homes in El Segundo priced over $2,000,000.  In the nearby luxury real estate markets of Manhattan Beach and Hermosa Beach this wouldn’t be unusual but in El Segundo it’s fairly unbelievabe. It’s certainly due, in part, to many buyers being priced out of the South Bay and their money goes much further in El Segundo.  In addition there is a pending sale and 4 closed sales in 2016 priced over the formerly unheard of $2.0M mark.
El_Segundo_2_Million_Dollar_Homes_1

In 2016 we’ve seen 4 $2.0M+ homes plus the one home in currently in escrow (as of 7/16/16)

El_Segundo_2_Million_Dollar_Homes_2

*Statistics based on MLS sales of single family homes.

May 2016 Home Sales in El Segundo

El Segundo saw a very slight year over year price decrease in May with 12 homes sold this month at a median price of around $803,000  This was a fairly typical month in El Segundo both in terms of the number of homes sold and the median home prices.  Click here to see the homes sold in El Segundo for May of 2016.

City Homes
Sold
May
2016 Median
May
2015 Median
Year
over Year % Change%
Carson 57 $453,000 $410,000 10.4%
El Segundo 12 $803,000 $804,000 -.1%
Gardena 47 $425,000 $405,000 4.9%
Harbor City 26 $439,000 $415,000 5.8%
Hawthorne 39 $485,000 $525,000 -7.7%
Hermosa Beach 21 $1,285,000 $1,450,000 -11.4%
Lawndale 14 $455,000 $431,000 5.6%
Lomita 15 $488,000 $509,000 -4.1%
Long Beach 349 $485,000 $433,000 11.9%
Manhattan Beach 48 $1,875,000 $2,239,000 -16.2%
Marina Del Rey 31 $925,000 $918,000 .8%
Palos Verdes Estates 55 $1,499,000 $1,515,000 -1.1%
Playa Del Rey 24 $560,000 $615,000 -8.9%
Rancho Palos Verdes 58 $1,060,000 $1,100,000 -3.6%
Redondo Beach 96 $950,000 $845,000 12.5%
San Pedro 66 $489,000 $449,000 8.8%
Torrance 138 $593,000 $579,000 2.4%
Westchester 30 $1,130,000 $900,000 25.6%

April Home Sales in El Segundo and the South Bay

By Keith Kyle340_Via_Colusa_secondbed1 copy

The April home sales numbers and median prices were once again impressive in El Segundo and throughout most South Bay cities. Some cities saw a drop in median prices from the previous year but all are still trending upwards from 2015.  El Segundo saw 13 home sales in April with a median home price of $900,000 compared with just under $790,000 in April of the prior year.

Visit our South Bay real estate site to see the recent home sales in El Segundo and the South Bay.

City Homes Sold April 2016 Median April 2015 Median Year over Year % Change%
Carson 59 $426,000 $414,000 2.9%
El Segundo 13 $900,000 $787,000 14.3%
Gardena 39 $445,000 $395,000 12.7%
Harbor City 14 $517,000 $412,000 25.6%
Hawthorne 43 $552,000 $484,000 14%
Hermosa Beach 22 $1,333,000 $1,450,000 -8%
Lawndale 17 $400,000 $410,000 -2.4%
Lomita 19 $475,000 $485,000 -2.1%
Long Beach 331 $440,000 $425,000 3.5%
Manhattan Beach 35 $2,200,000 $1,880,000 17%
Marina Del Rey 29 $874,000 $940,000 -7%
Palos Verdes Estates 41 $1,365,000 $1,537,000 -11.2%
Playa Del Rey 19 $705,000 $427,500 64.9%
Rancho Palos Verdes 46 $941,000 $1,040,000 -9.5%
Redondo Beach 102 $904,000 $844,000 7.1%
San Pedro 49 $490,000 $448,000 9.4%
Torrance 147 $590,000 $590,000 0%
Westchester 32 $915,000 $873,000 4.8%

March 2016 Median Home Prices for El Segundo CA and the South Bay.

By Keith Kyle

The numbers for March are in and it was a big month for the number of homes sold in Torrance.  Torrance has been hovering a bit over 100 for the past few months but March saw 133 homes sell throughout this South Bay city.

City Homes
Sold
March
2016 Median
March
2015 Median
Year
over Year % Change%
Carson 54 $447,500 $426,500 4.9%
El Segundo 10 $1,006,000 $849,000 18.5%
Gardena 58 $475,000 $403,500 17.7%
Harbor City 14 $450,000 $455,000 -1.1%
Hawthorne 36 $513,000 $642,000 -20.2%
Hermosa Beach 16 $1,183,000 $1,310,000 -9.7%
Lawndale 10 $385,000 $447,000 -13.9%
Lomita 11 $530,000 $481,000 10.1%
Long Beach 327 $478,000 $414,000 15.3%
Manhattan Beach 41 $2,275,000 $1,940,000 17.3%
Marina Del Rey 18 $1,025,000 $860,000 19.2%
Palos Verdes Estates 28 $1,355,000 $1,400,000 -3.2%
Playa Del Rey 18 $560,000 $546,000 2.6%
Rancho Palos Verdes 56 $1,156,250 $1,044,500 10.7%
Redondo Beach 89 $893,000 $862,000 3.7%
San Pedro  80 $554,000 $481,000 15.1%
Torrance 133 $615,000 $530,000 16%
Westchester 25 $910,000 $854,000 6.6%