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%

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%

Live Median Home Prices in El Segundo

By Keith Kyle

See the median home prices in El Segundo. This chart is updated monthly for the most up to date information.

Big Day for Single Family Home Listings in El Segundo

By Keith Kyle

While usually the single family homes for sale in El Segundo are limited at best, today was a big day by El Segundo standards.  Four new home listings hit the market today and the other big news is that all four were listed over $1,000,000.  Most months the median home prices in El Segundo are below $1,000,000 so it’s impressive to see everything hit the market at this price point.

Click to see the full list of homes for sale in El Segundo.

El_Segundo_Homes_for_Sale_May_2016

February 2016 Median Home Prices in El Segundo and the South Bay

By Keith Kyle116-Pine-El-Segundo

El Segundo, CA and the South Bay saw another strong month for home prices although a few cities saw big percentage drops in average home prices.  Those numbers, especially in smaller cities, or in a month with fewer home sales, don’t really mean much, but taken over times gives a good indication as to what is happening in the local El Segundo real estate market.

El Segundo had a fairly typical month with 11 home sales, but prices topped $1.1M which is pretty rare in this coastal community.

City Homes
Sold
February
2016 Median
February
2015 Median
Year
over Year % Change%
Carson 38 $420,000 $395,000 6.2%
El Segundo 11 $1,109,000 $815,000 36%
Gardena 38 $410,750 $334,000 23%
Harbor City 10 $527,500 $393,000 34.2%
Hawthorne 30 $483,000 $450,000 7.4%
Hermosa Beach 17 $1,225,000 $1,512,500 -19%
Lawndale 8 $431,000 $415,000 3.9%
Lomita 11 %505,000 $326,000 55%
Long Beach 238 $461,000 $409,000 12.7%
Manhattan Beach 22 $1,795,000 $2,361,000 -24%
Marina Del Rey 25 $864,000 $1,335,000 -35%
Palos Verdes Estates 33 $1,403,000 $1,300,000 7.9%
Playa Del Rey 10 $626,000 $710,750 6.9%
Rancho Palos Verdes 26 $1,110,000 $1,039,000 6.9%
Redondo Beach 45 $869,750 $812,000 7.1%
San Pedro 33 $505,000 $416,000 21.4%
Torrance 85 $565,000 $544,000 4%
Westchester 21 $917,000 $820,000 11.8%

Median Home Price in El Segundo Tops $1,000,000

By Keith Kyle840_Center_Street

The January home sales numbers are in and the median home prices for El Segundo in January was a whopping $1,074,000.  Although the market is certainly continuing to rise the jump of almost 35% was due mainly to the types of homes that closed in January.  Unlike previous months the bulk of the homes that sold were larger single family homes on large lots, and multi unit properties. The highest sales price was for 802 Center Street which closed at $2,150, 000 which is a very large number for this coastal community.  It wasn’t long ago that home sales in El Segundo approaching $2.0M was fairly unheard of.  Click here to view the home sales in El Segundo and South Bay for January 2016.

City Homes
Sold
January
2016 Median
January
2015 Median
Year
over Year % Change%
Carson 27 $415,000 $385,000 7.8%
El Segundo 8 $1,074,500 $799,000 34.5%
Gardena 28 $471,000 $399,000 18%
Harbor City 13 $500,000 $454,000 10.1%
Hawthorne 33 $457,000 $500,000 -8.5%
Hermosa Beach 10 $1,783,500 $1,680,000 6.2%
Lawndale 9 $450,000 $430,000 4.7%
Lomita 12 $420,000 $365,000 15.1%
Long Beach 241 $425,000 $406,000 4.7%
Manhattan Beach 22 $1,760,000 $1,675,000 5.1%
Marina Del Rey 16 $1497,000 $855,000 75.1%
Palos Verdes Estates 19 $1,272,000 $1,251,000 1.7%
Playa Del Rey 10 $574,000 $527,000 9.0%
Rancho Palos Verdes 38 $900,000 $1,015,000 -11.3%
Redondo Beach 66 $885,000 $802,000 10.3%
San Pedro 47 $465,000 $450,000 3.4%
Torrance 83 $632,000 $617,000 2.3%
Westchester 22 $880,000 $900,000 -2.2%

Prices and Values Continue to Rise in El Segundo

By Keith Kyle

To anyone keeping up with the El Segundo real estate market, it should come as no surprise that home values just keep going up.  The median home prices and list prices have continued to rise although the average home sales prices has been somewhat stagnant.  Click to view all of the latest market trends in El Segundo.  To see the recent home sales in El Segundo click here.

Super Charming Beach Bungalow Near Downtown

By Keith Kyle116-Pine-El-Segundo

We thought that this recent listing was definitely worth a look as it’s full of charm and nicely remodeled. Located at 116 E. Pine the home was updated throughout and the only real challenge is it’s proximity to Main Street.  It’s a very cute 3 bedroom 1 1/2 bath home with just under 1300 square feet.

See all property details of 116 E. Pine in El Segundo

ML#:   SB15057944 
APN:   4135004026 
Orig. List Price:   $869,000 
Price Per Sqft:   $675.74 
County:   Los Angeles 
Property Type:   Single Family Residence (D) 
Bedrooms:   3 
Bath(F,T,H,Q):  1,0,1,0 
Sqft (Src):   1,286 (Assessor’s Data) 
Ac/LotSqft (Src):   0.08/3,500 (A)  
A/C: Yes

February 2015 Home Sales in El Segundo CA

El Segundo once again saw a limited number of sales but a very positive month in terms of sale prices.  While monthly sales prices were down a bit compared with the previous two months, much of that was due to the past few months being impacted by the sales of recently completed townhomes.  To view the current homes for sale visit our MLS listings page.

MLS# Type   Address  Price  Bed/Bath Year Sq Feet
IN14262856 CONDO/A 770 W Imperial AV #38  $319,999 2/2,0,0,0 1966/ASR 999/A
SB14201445 CONDO/A 900 Cedar ST #205  $460,000 2/2,0,0,0 1978/ASR 1177/A
SB14218385 CONDO/A 818 Main ST #202  $525,000 2/2,0,0,0 1979/ASR 1406/A
PW14257062 SFR/D 317 E Mariposa AV  $645,000 2/1,0,0,0 1947/ASR 801/A
14799167 SFR/D 936 Eucalyptus DR  $814,200 3/2,0,0,0 1961 1444/A
SB15015265 SFR/D 711 W Acacia AV  $822,000 4/2,0,0,0 1966/ASR 1705/A
SB14224624 SFR/D 715 W Acacia  $835,000 4/1,1,0,0 1966/APP 2152/A
14792109 SFR 702 Hillcrest ST  $895,000 3/2,0,0,0 1955 1669
IG15012102 SFR/D 436 California ST  $915,000 3/1,0,1,0 1954/ASR 1131/A
SB14255826 SFR/D 808 California ST  $ 1,180,000 3/1,1,0,0 1958/ASR 1640/A

To see the homes sold in El Segundo in other months, or to see neighboring cities home sales visit our recent sales page.

Problems and Challenges Caused By Termite Inspection Uncertainty

The termite inspection process during an El Segundo offer and escrow is not always easy to understand, especially for a first time home buyer. Termite Fumigation in El Segundo There is uncertainty and confusion as to how it all works and the challenges it can present.  Here a few tips to understand options:

  • For home sellers – I always recommend getting a termite inspection prior to listing the home unless it is clear that the sale will be as is and no repairs will be done of any kind.   Whether there is a lot of damage and recommended work, or nothing at all….it’s better to know up front.
  • The challenge for home sellers is that when an offer comes in it often has a clause that contractually obligates the home seller to have an inspection and pay for any work that the termite company recommends.  It becomes a real challenge for sellers as to whether to accept this clause due to the fact that without previously having in inspection done, sellers don’t know what they are agreeing to.  They can try to negotiate this inspection or work out but it may not only be unnecessary (perhaps there isn’t much work needed) but may mean the difference in going into escrow or having the buyer walk away.
  • The loan process and how it is impacted by the WPA (wood destroying pest addendum) – If a loan is part of the offer, as it usually is, and termite work is agreed upon, the lender will not loan until all of the work is completed and termite company issues a certificate of completion.  This can get particularly challenging when fumigation is involved.
  • Fumigation – If fumigation is needed, and originally agreed upon between buyer and seller, fumigation (tenting) would need to take place prior to close of escrow.  This can be a real challenge as it takes a few days and home owners much be out of the house….all prior to closing escrow.
  • Condos and townhomes – Any situation in which homes are attached to one another presents another problem.  If the termite company recommends fumigation it is often impossible as it would involve displacing your neighbors…as well as the costs involved.  This poses an additional challenge the buyers lender will want to see completion when fumigation isn’t possible.  In addition condo complexes often have contracts with pest companies that handle exterior.

Whether you are a buyer or seller, make sure your realtor explains what is involved in the termite negotiation, agreement, and escrow process as it often has a number of challenges.